Hawaii's Kahala Hotel sells for $282 million

The Kahala Hotel & Resort in East Oahu has been sold to Japan-based Resorttrust Inc. in a leasehold sale for $282.5 million, according to state documents and as reported by Pacific Business News.

In late July, Resorttrust reportedly said that it was buying the 338-room resort from Kahala Hotel Investors LLC, a subsidiary of Honolulu-based Trinity Investments LLC, for $300 million.

California-based Landmark Hotels, the resort’s operator, will remain in place.

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The total value of the Kahala Hotel’s property at 5000 Kahala Ave. is about $126 million, including about $77.7 million for the land, according to tax records.