Cushman & Wakefield | ChaneyBrooks is pleased to present an exceptional opportunity for an owner-user or investor to purchase a rarely available own restaurant condominium in the highly sought-after premier tourist destination of Waikiki, on the island of Oahu, Hawaii. The street level, ± 5,570 square foot condominium with ± 1,314 square foot lanai is located at the corner of Kālia Road and Beach Walk at the Ka La’i Waikīkī Beach Hotel.
The newly rebranded Ka La’i Waikīkī Beach is a 38-story, 462-room hotel and condos near Fort DeRussy Park marks the Hilton luxury brand’s first Oahu property. (The hotel itself is owned by Irongate and managed by LXR Hotels & Resorts.) Starting in 2025, the property, is undergoing extensive renovations to reflect the new high-end aesthetics and will be the first time the property will be renovated since it originally opened in 2009.
223 Saratoga Road is a prime corner location, formerly occupied by BLT Steak, a short distance from 35,000 hotel rooms, Kalakaua Avenue.
HIGHLIGHTS
PRIME WAIKIKI LOCATION
Located in the World-Renowned Waikiki, a top performing destination market, the site is within walking distance of world-class dining, recreational activities, shopping and nightlife.
STRONG RESTAURANT PERFORMANCE
Waikiki has 2 restaurants doing over $30M in annual sales and over 14 restaurants doing over $10M in annual sales.
WELL-LOCATED ASSET IN PREMIER TOURIST DESTINATION
Surrounded by hotels, the location benefits from 5.8 million visitors annually and $9.11 billion in total visitor expenditures.
RARE OWNER-USER OPPORTUNITY
Properties in Waikiki, the State’s biggest tourist attraction, seldom become available for owner-users to purchase their own building. The site would be ideal for a restaurant location.
SIGNIFICANT BARRIERS TO ENTRY
Due to the high demand and scarcity of fee simple land in Waikiki, the asset is extremely rare.
Basic Facts
| Status: Open | Type: Restaurant Retail | Area: 5570 sq ft |
View on map / Neighborhood
- Senior Vice President, Retail Market Expert
Andrew Starn, Senior Vice President and Retail Market Expert with Cushman & Wakefield ChaneyBrooks, specializes in Waikiki and resort markets throughout the state of Hawaii. For the past 18 years, he has brought unsurpassed knowledge of Waikiki and Hawaii’s resort retail environment to support his clients’ goals. Mr. Starn focuses on sales and retail leasing in Waikiki and Hawaii’s unique resort retail landscape. His wealth of market knowledge allows both Landlords and Tenants to succeed and complete transactions in the very difficult to penetrate Urban Honolulu and Waikiki markets. He also coordinates tenant representation services including new site acquisitions and full market tenant roll-outs for clients such as Saint Laurent, Prada, Spectrum, and Volcom. This scope of services includes the negotiation of new leases, lease terminations, renewals and extensions for existing tenants, retail consulting services, market analysis and property sales. Having completed over 253 resort sale and lease transactions in his career, with a total deal consideration of $339.5 million, Mr. Starn continues to provide his clients with unparalleled insight into the Hawaii market. | MAJOR SALES TRANSACTIONS • Sale Chrome Hearts - $30M • Sale Meadow Gold Site $24M | Current & Previous Landlord Leasing Assignments • Hilton Hawaiian Village • The Shops at Wailea • Laylow Hotel • Lilia | Select Kalakaua Tenant Representation Assignments • Saint Laurent – Royal Hawaiian Center • Tiffany – Royal Hawaiian Center • Tory Burch – Royal Hawaiian Center • MiuMiu – Luxury Row | CLIENTS SERVED • Richemont • Kering Group • Saint Laurent • Prada • MiuMiu • Valentino • Tiffany • Tory Burch • Volcom • BlackSand Capital • Blackstone Group • Brookfield • Burberry, Ltd. • Goldman Sachs • Hilton Worldwide • Kobayashi Group • L&B Realty • Microsoft • Outrigger Enterprises, Inc. • Queen Emma Land Co. • Shidler/Petty • Spectrum | Professional Affiliations • International Council of Shopping Centers (ICSC) • Rotarian (Rotary Club of Honolulu) • Licensed Real Estate Broker, State of Hawaii | Community Leadership • President of HIWP (Water Polo non-profit) | EDUCATION • Bachelor of Science, Finance and Entrepreneurship, University of Colorado, Colorado
- Licensed Real Estate Broker, State of Hawaii: RB-19525
- (808) 544-1888
- astarn@chaneybrooks.com
