First phase of ‘condotel’ sells out

Under the average price for a Kaua’i condominium unit but obviously not under buyers’ radar were the first 200 units of condominium hotel units, or condotels, at the Kauai Beach Hotel & Resort.

The first 200 units of the beach-front, fee-simple condominium project formerly known as the Radisson Kauai Beach Resort off Kuhio Highway near Hanama’ulu, at an area known as Nukoli’i, sold out in just eight weeks.

The last 150 units will go on sale next month, and are expected to be gobbled up by buyers quickly, according to marketers.

“The average price of a condominium on Kaua’i is $459,000. Kauai Beach Resort offers a beach-front condo for an average of $335,000,” said Patrick O’Neill, owner of the O’Neill Group, handler of the sale of the final 150 units.

“There is absolutely no other opportunity in Hawai’i like this,” he said. The O’Neill Group has headquarters in Honolulu.

The property is a 12-acre, oceanfront condo-hotel. Local real-estate investor Brian Anderson of Anekona Properties purchased the property in December 2004 for a reported $58 million, and is spending more than $12 million in renovation of the rooms and common areas.

It is the second resort development on Kaua’i for Anderson, who already led the conversion of The Islander on the Beach, in Waipouli.

At the Kauai Beach Hotel & Resort, upgrades planned or underway include improvements to the long, banyan-tree-lined driveway and a new, chandelierlit porte cochere; new landscaping in the interior courtyard and additional water features throughout the resort; a water slide at the beach pool, and increased family-centered beach activities; and high-speed Internet access in suites and Wi-Fi (wireless) Internet access in public areas.

The suites will also be upgraded with new carpeting, wood louvered closet doors and wood entry doors, new lanai furnishing, and imported tiles and new fixtures in the bathrooms, O’Neill explained.

Architects from the Honolulu firm Wimberly Allison Tong and Goo are leading the redesign. Officials at WATG won the Kauai Award for Hawaiian Design for renovation work at the resort in 2000.

Anekona Properties leaders are also owners of the W Hotel at Diamond Head in Honolulu. Anderson has also redeveloped the Luana in Waikiki.

His newest condo-hotel redevelopment is the Regency On Beachwalk in Waikiki, featuring 49 private residences designed in an urban-resort chic theme.

Sales of that project are also being handled by the O’Neill Group, and are also scheduled to begin in January.

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