Hawaii
Blackstone Offloads Turtle Bay Resort in Hawaii for $725M
Blackstone (BX) is selling Turtle Bay Resort on the north shore of Oahu, Hawaii, for $725 million — double what it paid for in 2018.
Host Hotels & Resorts bought the 450-room resort on 1,300 acres and plans to rebrand it as a Ritz-Carlton. The deal comes six years after Blackstone put down $332 million in acquiring the property, according to attorneys for both the buyers and the sellers.
The deal will officially close in the third quarter of 2024.
“This transaction is an excellent outcome for our investors and a testament to Blackstone’s ability, including through the pandemic, to transform iconic, luxury hospitality assets,” Rob Harper, head of real estate asset management for Blackstone in the Americas, said in a statement.
While Harper said the real estate leviathan had spent money repositioning the resort over its time owning it, Blackstone declined further comment regarding how much was invested in renovations.
The renovations included a facelift to guest rooms, bungalows, the lobby, pools, restaurants, retail spaces, meeting space, the spa, a club lounge, building systems and the exterior, according to Host Hotels & Resorts.
“Oahu is a high-demand leisure destination with consistently high occupancy, an internationally diverse demand base, and high barriers to entry, resulting in slightly negative supply growth historically and essentially no anticipated near-term supply,” James Risoleo, CEO of Host, said in a statement. “In addition, because of the Resort’s recent transformational renovation, we do not expect meaningful capital expenditures in the near term.”
Eastdil Secured, JLL (JLL) and Sumitomo Mitsui Banking acted as brokers and financial advisers while Simpson Thacher & Bartlett provided legal counsel for Blackstone and announced the deal. It’s unclear who brokered the deal on behalf of the buyer.
The transaction included a 49-acre parcel that can be developed into another resort amenity. Host paid $50 million for the parcel.
Host projects that the resort will generate $980 in revenue per available room, a metric known as RevPAR in the hotel industry.
Mark Hallum can be reached at mhallum@commercialobserver.com.
Hawaii
Hawaii County Surf Forecast for June 20, 2026 | Big Island Now
Forecast for Big Island Windward and Southeast
| Shores | Tonight | Saturday | ||
|---|---|---|---|---|
| Surf | Surf | |||
| PM | AM | AM | PM | |
| North Facing | 0-2 | 0-2 | 0-2 | 0-2 |
| East Facing | 1-3 | 1-3 | 1-3 | 1-3 |
| South Facing | 4-6 | 3-5 | 4-6 | 5-7 |
| Weather | Sunny until 6 PM, then partly cloudy. Scattered showers. |
|||||
|---|---|---|---|---|---|---|
| Low Temperature | In the lower 70s. | |||||
| Winds | Northeast winds 5 to 10 mph, becoming northwest after midnight. |
|||||
|
||||||
| Weather | Mostly sunny. Scattered showers. | |||||
|---|---|---|---|---|---|---|
| High Temperature | In the mid 80s. | |||||
| Winds | Northeast winds 5 to 10 mph. | |||||
|
||||||
| Sunrise | 5:42 AM HST. | |||||
| Sunset | 7:02 PM HST. | |||||
Forecast for Big Island Leeward
| Shores | Tonight | Saturday | ||
|---|---|---|---|---|
| Surf | Surf | |||
| PM | AM | AM | PM | |
| West Facing | 2-4 | 2-4 | 2-4 | 2-4 |
| South Facing | 4-6 | 3-5 | 3-5 | 4-6 |
| Weather | Mostly sunny until 6 PM, then mostly clear. Isolated showers. |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| Low Temperature | In the upper 60s. | ||||||||
| Winds | Northwest winds around 5 mph, becoming southeast in the evening, then becoming light and variable after midnight. |
||||||||
|
|||||||||
| Weather | Sunny. Isolated showers. | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| High Temperature | In the upper 80s. | ||||||||
| Winds | West winds around 5 mph. | ||||||||
|
|||||||||
| Sunrise | 5:46 AM HST. | ||||||||
| Sunset | 7:06 PM HST. | ||||||||
A small, medium period south swell will continue to steadily fade into Saturday, allowing surf along south and west-facing shores to drop a notch. A series of small, medium to long period south and southeast swells will fill in Saturday into the first half of next week, which will boost surf heights back near seasonal averages.
Tiny surf will prevail along north-facing shores through most of the coming week as only some limited short-period energy reaches the islands from the north. Trade winds remain lighter than normal through the weekend, keeping surf along east-facing shores below average. East shore surf will begin to trend up early next week as trade winds increase upstream and across the region.
NORTH EAST
am
pm
Surf: Minimal (ankle high or less) surf.
Conditions: Semi choppy with ESE winds 5-10mph in the morning increasing to 10-15mph in the afternoon.
NORTH WEST
am
pm
Surf: Minimal (ankle high or less) surf.
Conditions: Clean in the morning with ESE winds less than 5mph. Bumpy/semi bumpy conditions for the afternoon with the winds shifting W 5-10mph.
WEST
am
pm
Surf: Minimal (ankle high or less) surf.
Conditions: Light sideshore texture in the morning with NNW winds 5-10mph. Bumpy/semi bumpy conditions for the afternoon with the winds shifting to the WNW.
SOUTH EAST
am
pm
Surf: Minimal (ankle high or less) surf.
Conditions: Sideshore texture/chop with NE winds 10-15mph.
Data Courtesy of NOAA.gov and SwellInfo.com
Hawaii
Principal honors Obama as ‘Child of Hawaii’ at library opening – AsAmNews
The honor of introducing former President Barack Obama at the grand opening of his new presidential library in Chicago Thursday went to Dr. Kaiwipunikauikawēkiu Punihei Lipe of Hawaii.
Hawaii News Now reports that Lipe participated in the inaugural cohort of the Asia-Pacific Leaders Program in 2019 and is currently the principal at Kamehameha Schools Kapālama.
“Where I come from, to introduce someone means we have pilina, a connection. If this man walked into my home, my children would call him uncle because we are both keiki o ka ʻāina, children of Hawaii,” she said in her remarks.
She told those in attendance that the former president and herself are both “children of Hawaii.” Obama lived on the island and attended Punahou School and lived in Hawaii for eight years until his graduation from high school.
Lipe said being children of Hawaii carries with it a “sacred responsibility to care for those who we may never meet.”
She made reference to the resilient Hawaiian shrub, the Like a’ali’i.
“The a’ali’i thrives by being deeply rooted, resilient through storm and drought, and fiercely responsive. That is what ‘yes, we can’ means to my indigenous heart. It demands that we remain unshakably rooted in truth, resilient through trial, and so responsive that just as this plant yields its leaves for medicine, its blooms for beauty, and its timber for protection, we become the healing, the vibrance, and the shelter needed by our communities and by grandmother earth.”
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