One of Hawaii’s luxury hotels may soon have a new owner.
Blackstone is looking to potentially offload the five-star Grand Wailea resort in Maui, Bloomberg reported on Monday. The alternative asset manager is working with a broker to reach out to prospective buyers, people with knowledge of the proceedings told the outlet. However, only preliminary talks are taking place, and Blackstone could decide to retain the property. (A spokesperson for the investment company declined to comment to Bloomberg.)
The Grand Wailea is an 845-key, 40-acre hotel branded as a Waldorf Astoria property. It can host events for up to 3,200 guests, and it served as the filming location for scenes in the 2011 movie Just Go With It, starring Jennifer Aniston and Adam Sandler. Blackstone wasn’t the owner then, though: The company acquired the Grand Wailea for some $1.1 billion in 2018, Bloomberg reported at the time.
While the sale is still up in the air at the moment, it has been a rather bountiful time for the buying and selling of luxury hotels. Earlier this year, for example, billionaire Larry Ellison bought the Eau Palm Beach Resort in Florida for an unspecified amount. Just a few months later, the owner of the Ben hotel in West Palm Beach sought to sell that property for a whopping $1 million per room. Proving that Florida is a hot commodity, the Reuben Brothers also bought the W South Beach for more than $400 million, Bloomberg noted.
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Blackstone hasn’t been immune to the trend either: Earlier this year, the company decided to sell the Turtle Bay resort in Hawaii for some $680 million, the outlet wrote. Nadeem Meghji, the global co-head of Blackstone Real Estate, addressed that sale on Tuesday, saying that the market has been trending upward.
“The environment is improving,” Meghji told Bloomberg Television. “When you think about sale activity and you think about values, when there are more folks who want to buy real estate, that’s usually a better time to start selling, and so we expect to see even more of that next year.”
Looks like we could see Grand Wailea changing hands in 2025.
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Tori Latham
Tori Latham is a digital staff writer at Robb Report. She was previously a copy editor at The Atlantic, and has written for publications including The Cut and The Hollywood Reporter. When not…
Steam rises from Kilauea Volcano, just a few miles from Volcano Golf Course on the Big Island of Hawaii.
Matty Lee, Volcano Golf Course
For travelers willing to venture beyond the familiar resort corridors on the Big Island of Hawaii, Volcano Golf Course offers a truly memorable detour and golf experience.
Located about 4,000 feet above sea level in the cool uplands of Volcano Village – several hours from resorts like Mauna Lani and Mauna Kea on the sunny Kohala Coast — the more-than-100-year-old course sits across the street from Hawaii Volcanoes National Park and just a few miles from the active Kīlauea volcano. With sweeping mountain views and a setting shaped by volcanic terrain and rainforest, Volcano delivers a side of Hawaiian golf that feels unpolished, far removed from lush resort fare, and deeply connected to its surroundings.
Just outside Hawaii Volcanoes National Park on the Big Island, Volcano Golf Course is a 100-year-old+ layout at 4,000 feet above sea level that offers a fun, pure golf experience in a unique setting.
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Erik Matuszewski
The setting alone makes Volcano Golf Course quite possibly the most unique golf facility in the Hawaiian Islands. Few courses anywhere can claim proximity to one of the planet’s most active volcanoes, and even fewer allow golfers to play a round in the cooler mountain air before getting a chance to witness glowing lava flows after dark.
While Volcano Golf Course isn’t affiliated with a resort, it now offers a special stay-and-play opportunity through a partnership with nearby Kīlauea Lodge & Restaurant, a cozy inn nestled in the heart of Volcano Village less than five miles down the road. The Kīlauea Stay & Play Package combines three nights at the lodge with two rounds of golf, carts, range balls and even a full-size rental car, creating an easy and immersive way to experience this special part of the island.
A photo from the walking trails and botanical gardens behind the Kilauea Lodge just a few minutes down the road from Volcano Golf Course and Hawaii Volcanoes National Park.
Erik Matuszewski
Tucked into rainforest surrounds, the lodge mirrors the spirit of the course — intimate, warm, historic, and deeply local. There are guest rooms with stained glass windows, fireplaces and local artwork, along with an award-winning restaurant. The property is a perfect jumping-off spot for trips to Volcanoes National Park, which not only has a spectacularly active summit caldera – the Halema’uma’u crater – but more than 150 miles of hiking trails, lava tubes, steam vents and dramatic volcanic rock landscapes.
It’s possible to see steam rising from the volcano on certain parts of the nearby golf course. And with its brisk breezes, cooler temperatures, occasional misty conditions and cloudy skies, and turf that’s more seasonal than always a lush green, Volcano Golf Course at times can feel less like Hawaii and more like a rustic linksland in Ireland.
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At times, Volcano Golf Course has a feel more akin to a links-style layout in the U.K. than to Hawaii’s typical resort courses.
Erik Matuszewski
The conditions even tend toward fast and firm, rewarding creativity on what is an immensely fun layout. There’s no luxurious clubhouse, no greens on the ocean, no overdone landscaping, and really no intent to be anything other than it is — a pure golf experience in a unique setting.
The wide fairways are framed by dense vegetation and native ‘ōhi‘a trees bloom with bright red blossoms. The Nēnē goose, Hawaii’s state bird, is a frequent companion for local and adventurously itinerant golfers alike.
Nene and golfers share the fairways at Volcano Golf Course.
Erik Matuszewski
For a time, Volcano’s future was uncertain.
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The course was closed in 2020 when the then-operator abruptly ceased operations. Kamehameha Schools, which owns the 156-acre parcel of land the golf course is on, would later step in to regain control of the facility and reopened it in 2022 after two years of dormancy.
Troon’s Indigo Sports arm was brought in to manage day-to-day operations and the course today continues to only get better as it embraces its unique place in not only the Hawaii golf environs but even more broadly. Matty Lee was recently appointed as the property’s head professional and is excited about the opportunity at Volcano, including plans for a new, permanent clubhouse.
Hitting a shot at Volcano Golf Course with steam rising from the active Kilauea Volcano in the background.
Matty Lee, Volcano Golf Course
Part of the commitment for Volcano, which is a 45-minute drive from Hilo and about two hours from Kona, is a stewardship, and responsibility to care for, the local environment. The unique setting is the biggest reason Volcano Golf Course stands out from the dozens of other Hawaii courses.
In a state known for tourism and escapist luxury, Volcano is authentic and pure – a golf experience set in one of the most dramatic natural environments in the game.
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Several hours from the resorts on the Big Island’s Kohala Coast, Volcano Golf Course has sweeping mountain views and a setting shaped by volcanic terrain and rainforest.
UH kicker Kansei Matsuzawa reacted after making a game-winning field goal to beat the Stanford Cardinal at Clarence T.C. Ching Athletics Complex in the Warriors’ opener on Aug. 23.
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Kicker Kansei Matsuzawa today became the University of Hawaii football program’s first consensus All-American.
Matsuzawa, 26, earned the distinction after being selected today to the American Football Coaches Association’s All-America first team.
The NCAA recognizes five All-America teams. A “consensus” All-American is selected to three of those organizations’ first teams. Matsuzawa previously was named to the All-America first teams by the Walter Camp Foundation and the Associated Press. The Sporting News and the Football Writers Association of America will announce their All-America teams this week.
“This is a result of my teammates and coaches,” Matsuzawa said, noting without them “I couldn’t have done this. I appreciate my family, and the state of Hawaii and Japan.”
Matsuzawa is a self-taught kicker from Chiba, Japan. The school-promoted “Tokyo Toe” converted his first 25 field-goal attempts this season to tie an FBS record for best start. The streak ended when he was wide right on a 30-yard attempt in the fourth quarter of the regular-season finale against Wyoming.
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Last week, UH special teams coordinator Thomas Sheffield declared Matsuzawa as “the best kicker in the country. And I’ll stand on the tallest mountain and scream it from the tallest mountain until the cows come home.”
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The Rainbow Warriors will play Cal in the Dec. 24 Sheraton Hawaii Bowl at the Ching Complex.