Maui Business

Blacksand Capital is Contracted to Purchase the Royal Lahaina Resort

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Photo courtesy: Royal Lahaina Resort

Today BlackSand Capital, a locally owned Hawai‘i real estate investment firm led by B.J. Kobayashi, announced that it is contracted to purchase the Royal Lahaina Resort.

Kobayashi Group, a privately owned and managed boutique real estate development and investment firm with its focus solely on Hawai‘i, will be part of the ownership group.

Pleasant Travel Service will continue to operate the resort until the change of ownership is finalized, which is expected to occur in December 2021. BlackSand will continue to operate the resort after acquisition and into the future.


“The Hogan family has been an incredible steward of the iconic Royal Lahaina Resort on Maui for generations, and we are honored to carry that legacy forward,” said B.J. Kobayashi. “We share many of their values in terms of being deeply involved in the community, giving back, and our love and respect for all that makes Hawai‘i such a very special place.

“We have been seeking an exceptional investment on Maui and we are truly excited about the Royal Lahaina Resort. We are based in Hawai‘i and we invest only in Hawai‘i. BlackSand’s investors are composed primarily of people who live in or have a deep connection to Hawai‘i – including beneficiaries of local retirement funds and endowments. We are proud to be locally owned and it is important to us that most of our investment dollars stay in Hawai‘i and make it a better place to live and work,” said Kobayashi.

Founded in 2010, BlackSand Capital is a Hawai‘i specialist real estate private equity firm with a commitment to the Hawai‘i market.


Kobayashi Group is a family owned and managed real estate development and investment firm with its focus solely in the State of Hawai‘i. The company is led by partners, Patrick Kobayashi (CEO), Alana Kobayashi Pakkala (COO), as well as Bert A. Kobayashi, Sr. (founder and senior advisor) and B.J. Kobayashi (partner).

With over 40 years of experience developing projects solely in Hawai‘i, in nearly every sector, Kobayashi Group has developed over $4 billion worth of property.

Kobayashi Group has extensive experience with developing world-class resorts on neighbor islands like Kukio Golf and Beachclub and Four Seasons Hualalai on the Big Island of Hawai‘i and Hyatt Andaz Maui at Wailea Resort on Maui.


In 2016, the company set goals to produce an affordable rental or affordable for-sale residence for every market-rate and/or luxury home developed. According to the firms, this commitment has become reality through multiple projects.


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