KAPOLEI, Hawaii (AP) - A Hawaii developer says a Chinese company is buying two oceanfront parcels to build a luxury hotel and homes on Oahu's west coast.
The Resort Group said Friday that China Oceanwide Holdings Group Co., Ltd. bought the parcels inside the master-planned community of Ko Olina. The contiguous sites are near Disney's Aulani resort, a new Four Seasons Resort expected to open next year and a Marriot Vacation Club.
A news release from The Resort Group quotes China Oceanwide Chairman Lu Zhiqiang as saying the investment will greatly enhance the company's international development portfolio.
The Resort Group didn't say how much the parcels sold for. The Honolulu Star-Advertiser reports China Oceanwide paid $200 million for 1 million square feet or 23 acres.
Ko Olina is the largest employer in west Oahu.