Maui Business

Maui Lu Resort Sold, to Become Hilton Grand Vacations Timeshare

October 3, 2014, 6:18 AM HST
* Updated October 3, 2:59 PM
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Maui Lu. Photo by Wendy Osher.

Maui Lu. Photo by Wendy Osher.

By Wendy Osher

The 28-acre Maui Lu Resort in South Maui has been sold to the Japan-based Capbridge Group for an undisclosed amount of money.

The company is collaborating with Hilton Grand Vacations to conduct a $300 million redevelopment of the property into a 388 unit timeshare resort, representatives said in a joint announcement.

Company executives say the project is scheduled to break ground in late 2015 , and open in 2017.

The property is located mauka of South Kīhei Road, and is adjacent to the Humpback Whale Sanctuary Visitor Center and Kalepolepo Beach Park .

Maui Lu Resort. Photo by Wendy Osher.

Maui Lu Resort. Photo by Wendy Osher.

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According to the announcement, the new resort will be developed as a villa-style resort featuring 740 feet of oceanfront property.

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The residences will include one-, two-, and three-bedroom residences; a super pool; fitness center; and kids and teen centers.

According to the announcement, the Capbridge Group has offices in Honolulu, which is headed by Beaton, who was responsible for developing the Wailea Beach Villas in South Maui.

Will Beaton, president of Capbridge Pacific commented in a press release statement saying the company is looking forward to developing its “first major project in Hawaiʻi,” saying it will provide a “significant improvement to Kihei and a major economic boost to Maui.”

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“Maui continues to be one of the most desirable destinations for the vacation ownership market. Hawaii’s relationship, from both a geographic and business perspective, with both the U.S. mainland and the Asia-Pacific region, is a great fit with our company’s growth and investment strategy,” he said.

Area residents say the old Maui Lu Resort has been shut down and the property has been taped off with “no trespassing” signs since last month.

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