King Kalakaua Plaza
Retail | 26,232 SqFt
Marketing description
King Kalakaua Plaza (KKP) represents a unique opportunity to acquire fee simple ownership of commercial real estate fronting Kalakaua Boulevard in Waikiki. The property is located at the “gateway” to Waikiki, Hawaii’s premier shopping and dining destination and the heart of the visitor industry. For retailers and restaurateurs who want to control their future, KKP represents the unique opportunity to own versus lease.
The property consists of 5 commercial condominiums fronting Kalakaua Avenue at the Marriott Vacation Club which includes 110 resort accommodations and 184 parking stalls. The 552 room Ritz Carlton Residences Waikiki Beach and Luxury Row which is home to Chanel and Bottega Veneta are located across the street. There are active hotel renovations in the immediate area and the Kobayashi Group is developing a new luau entertainment facility, called Kalia, across Kalakaua Avenue from the Property.
Kalakaua Avenue is the heart of Waikiki’s commercial and resort activity, offering a vibrant mix of world-class shopping, signature restaurants, and upscale hotels within a walkable, resort-style environment. The corridor’s unique blend of luxury brands, destination dining, and cultural energy creates a premier setting unmatched elsewhere in Hawaii.
Investment highlights
- Generational real estate on one of the World’s most coveted retail streets in a market with extremely high barriers to entry.
- Located in Waikiki, Hawaii’s largest and most active resort and retail destination.
- The Property consists of five (5) commercial condominiums that can be acquired individually or in a bulk purchase which presents flexibility for future ownership with respect to leasing, selling or financing the Property.
- Limited operational management is required as the commercial property in tandem with the 110 Marriott Vacation Club units are actively managed by Marriott Vacation World.
- Significant new development on the surrounding blocks is creating new opportunities for restaurants and retailers to serve this dynamic market.
- Opportunity to acquire well positioned real estate below replacement cost in high barrier to entry market.
- The Marriott Vacation Club is 88% occupied in 2025.
- Tenure Fee Simple
- HVAC –central VRF system for air conditioning with refrigerant lines stubbed each unit
- Electricity – meter housing and conduit stubs to each unit
- Plumbing – 1” cold water line; 4” waste line; 2” vent; 1500 gallon grease interceptor for second floor restaurant uses
- Natural Gas – 2” gas line stub out and meter housing provided for restaurant uses on second level
- Fire Suppression – sprinkler risers and stubs for unit connections; future occupant will need to modify layout as part of tenant improvements
- Receiving/Trash – loading dock with trash area, service corridors and freight elevator to rear of units.
- Elevators: one retail passenger elevator and one service elevator
- Located on the corner of Kalakaua & Kalaimoku St
- Fronting Kalakaua
- Corner of Kuhio Ave & Olohana
- Second Floor on corner of Kalakaua and Olohana
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