CHICAGO — Oahu will soon be home to a new, dual-branded Hyatt property.
CBRE has secured construction financing for a 240-room, dual-branded Hyatt Place and Hyatt House Hotel in Ewa Beach on the Hawaiian island of Oahu. CBRE secured financing on behalf of Alaka’i Development, a Hawaii-based commercial real estate developer. The project cost is approximately $135 million.
The dual-branded hotel will have 240 guest rooms and will be located on 3.5 acres at 91-3456 Nana Hope Street in Ewa Beach, within the Ho’opili master-planned community, according to a CBRE press release. The property will feature 108 Hyatt Place rooms and 132 Hyatt House extended-stay rooms, 19 of which include balconies and 86 kitchenettes. The five-story building will include an outdoor swimming pool and spa, 3,009 square feet of meeting space, a dining room, a business center and a fitness center.
It will be the first hotel on Oahu’s Ewa Beach and is designed for business and extended-stay travelers, as well as interisland visitors whose options are “currently limited,” Hotel Dive reported.
Alaka’i Development Principal Jon Wallenstrom told Hotel Dive that the new property will cater to Hawaii-based interisland travelers, leisure travelers and business travelers, including government and military contractors working at nearby Pearl Harbor.
When complete, the hotel will also be the first to be located along Oahu’s recently opened rapid transit system, Skyline. The rail line will provide access to the Daniel K. Inouye International Airport, as well as businesses and employment centers along the line.
Construction could begin in 2025, the Honolulu Star-Advertiser reported.
The Hawaii hotel market continues to have a high demand for rooms, with revenue per available room (RevPAR) exceeding 2019 by 10%, according to Kalibri Labs.
