The Grand Islander by Hilton Grand Vacations, a new 37-story timeshare tower on the Hilton Hawaiian Village Waikiki Beach Resort campus, was 93 percent occupied for its grand opening today.
Developed by New York-based Blackstone Group LP, the $420 million tower is adjacent to the Tapa Tower along Kalia Road and plays an integral part in the growth of the 22-acre Hilton Hawaiian Village campus and of Hawaii’s timeshare industry. The property, which broke ground in 2014, is Hilton Grand Vacation’s fifth Oahu timeshare and its eighth property across the isles.
Fractional ownership prices at the 418-unit tower start at $23,000 and rise to $500,000 for one- to three-bedroom suites and penthouses. All guests have exclusive use of the property’s infinity pool and sundeck, and access to all Hilton Hawaiian Village amenities. Penthouse owners also have access to a dedicated check-in and the use of an exclusive club lounge, with food and beverage service.
The opening checks off another milestone in the resort’s 2010 master plan, said Jerry Gibson, area vice president of Hilton Hawaii.
“The last new build on our resort was the Grand Waikikian, which was completed in December 2008,” Gibson said. “We’ve accomplished many projects that were announced back in 2010, including the beautification of Rainbow Drive with improvements to the pedestrian experience, redevelopment of retail space, renovation of our main lobby, Tapa Bar and Bali Steak &Seafood. Our flagship Coral Ballroom was completely transformed, as was our Alii Tower. We plan to upgrade the retail space, the super pool, fitness center and spa in the near future.”
As a part of the Grand Islander project, Gibson said, the resort improved the landscaping and walking paths along Kalia and Paoa Roads. A indoor-lounge area also was added to the outdoor bus depot to improve guest arrivals and departures, he said.
“The Grand Islander provides an elevated vacation experience in one of the most sought after destinations in the world,” Mark Wang, HGV president and CEO, said in a statement. “Our expansion in Hawaii is reflective not only of our dedication to providing our owners and guests with new properties where they want to travel, but also our commitment to supporting the state’s economy.”
Honolulu Mayor Kirk Caldwell said Waikiki serves as the economic engine for the entire state, so it’s important that the revitalization of the last few years continues.
“As a visitor industry, we can’t remain stagnate because we are competing with destinations across the globe,” Caldwell said. “But with new product like The Grand Islander, and as one of the safest big cities in the U.S., we remain highly attractive to both our Asian visitors and those from the (mainland).”
Caldwell said the city gave Hilton a break on sewer fees because sewer upgrades beneath Kalia Road and Kalakaua Avenue increase capacity for all hotels and businesses in the area, allowing further renovations to take place.
Hilton has seen demand for Hawaii timeshares grow since it opened the Lagoon Tower in 2001, Wang told the Honolulu Star-Advertiser.
“We’ve seen an increase in demand and have had a tremendous response to this project from our owners, especially our Japanese owners. In fact, we believe (approximately) 8.5 percent of all arrivals to Oahu from Japan are HGV guests or owners, their family members or guests, and/or marketing guests,” he said. “This is a highly demanded market, which is why we introduced this project and others to increase inventory for our owners and guests.”
Wang said HGV owners are “high-income, highly educated, more than 90 percent own homes, and travel for leisure an average of
25-35 days per year.”
Hawaii’s strong fundamentals align with performance for the U.S. timeshare industry, which enjoyed six years of steady sales growth from $6.3 billion in 2009 to
$8.6 billion in 2015, according to a 2016 Ernst &Young study.
“Demand continues to be strong for the Hawaiian timeshare market, and Hawaii is still a top exchange destination for all timeshare owners in the U.S. and much of the world,” said Howard Nusbaum, president and chief executive officer of the American Resort Development Association.
