Last issue, we talked about the sale of the Manago Hotel, the oldest hotel on the Big Island. Now we’ve learned that the Kauaʻi Inn, the island’s first hotel dating back to 1890, is on the market for $26 million. It’s listed by Sotheby’s, which isn’t your typical hotel brokerage route.
Located on 2.75 acres in Niumalu, the 48-room property pencils out to $437K per key and includes a manager’s house, a resort-style pool, and individual TMKs for each unit (meaning each one has its own deed and could theoretically be sold off condo-style, a rarity in hotels). With Urban-Open zoning and condo status, the playbook is wide open: keep it boutique, reposition it, or redevelop entirely.
If you are interested in the listing and have a cool 26 million lying around, Sotheby’s created a microsite for it; click here to see it.
