While developer Jeff Stone has not officially announced what he plans to do with the JW Marriott Ihilani hotel at Ko Olina Resort & Marina, a condominium registration report has been filed by one of Stone's subsidiary companies with the Hawaii Real Estate Commission. The report states that the 387-room hotel will be converted into 206 residential resort units and the sales of the units will be managed by the Ko Olina Realty LLC, a brokerage firm affiliated with Jeff Stone. Additional work may be completed to the Ihilani, including demolishing part of the banquet pavilion to build a new residential tower or towers. It is generally believed that the Four Seasons will take over as the management company for the Ihilani once it finishes its condominium conversion process, through, neither Jeff Stone nor the Four Seasons has confirmed that. However, in the designs provided in the condominium registration report, it does specifically list drawings that state "new exclusive Four Seasons entrance" would be located along the Ihilani's entry road.
No price range for the units have been mentioned, though industry experts believe that they will be similar to those of the Ritz Carlton Waikiki Project, which ranged from $568,800 for a studio to $20 million for a penthouse unit. The report did note that the majority of the units would be studios ranging from 428 sq ft to 929 sq ft in size. There will also be 12 one-bedroom suites, and a presidential suite that will have 2,948 sq ft of living space.
Source: Honolulu Star Advertiser, 10-15-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
