Waikoloa Village expansion includes extended-stay hotel
February 04, 2025
Waikoloa Village expansion includes Holiday Inn, extended-stay hotel
By Elizabeth ‘Ufi – Reporter, Pacific Business News
Jan 30, 2025
Meridian Pacific, Ltd. is expected to begin construction soon on a $113 million project to build two new hotels in Waikoloa Village as part of its estimated $700 million master-planned mix-used development project that will add more retail and restaurants, including a Foodland supermarket to the Hawaii Island community.
By Elizabeth ‘Ufi – Reporter, Pacific Business News
Jan 30, 2025
Meridian Pacific, Ltd. is expected to begin construction soon on a $113 million project to build two new hotels in Waikoloa Village as part of its estimated $700 million master-planned mix-used development project that will add more retail and restaurants, including a Foodland supermarket to the Hawaii Island community.
Gary Pinkston, founder and president of developer Meridian Pacific Ltd., told Pacific Business News in an interview that the hotels will be branded as a Candlewood Suites and a Holiday Inn Express, both IHG Hotels & Resorts hotel chain brands. The hotels would be located on the 45-acre mix-used development project site which Meridian Pacific bought in 2018 for $24 million.
This would mean the first Candlewood Suites-branded hotel in Hawaii and the third Holiday Inn Express — the others are in Kailua-Kona and Waikiki on Oahu.
"The reason we're building the hotels is to service the upper-middle-class market," said Pinkston. "Whereas today, many hotels are [$800 to $2,000] a night, and we'd have hotel rooms [for] between $300 and $400 a night."
The overall development site consists of Waikoloa Plaza, a shopping center that opened in July 2023; five loft-style apartment complexes, three of which have already been completed; Waikoloa Plaza West, a retail expansion to Wakoloa Plaza, which is expected to open in early 2026; and the two hotels that will encircle Waikoloa Plaza West.
According to Pinkston, the Holiday Inn Express would be a $65 million build with construction expected to begin in either the second or third quarter of this year. The hotel would have 140 rooms and open in 2027.
As for construction on the 110-room three-story Candlewood Suites hotel, Pinkston said that would cost about $48 million with construction beginning in 2027 before opening in 2028.
"The plans are done. We have a building permit ready to pull, and it's all IHG sanction both the Holiday Inn and Candlewood," said Pinkston.
In total, the two hotels would bring about 100 hotel jobs.
Pinkston said the company broke ground on Wakaloa Plaza West in August. Also in the works are plans to bring a Popeyes, Four Kings, and Brazilian Steak House to the overall site of the completed Wakoloa Plaza and its expansion sometime this year.
In 2026, Pinkston anticipates the opening of other retail spaces such as a Foodland supermarket that will anchor Wakoloa Plaza, Starbucks and Quick Quack Car Wash.
Most recently, the center opened this month a Smash Daddy's 808 restaurant, which serves up hand-smashed burgers.
Meridian Pacific, a family of privately held investment and development corporations with offices in San Francisco and Honolulu, also developed the Puna Kai Shopping Center in Pahoa and owns Waipahu Town Center on Oahu.
Additionally, the company is developing three luxury subdivisions on Kauai: Kauanoe o Koloa, Kilolani at Kukuiula and Kaupili at Kukuiula.
According to the firm's website, Meridian Pacific has served as the developer and builder of more than 100 projects including hospitality, shopping centers, industrial complexes, and office buildings in areas across California, Nevada, Texas and Hawaii.
https://www.bizjournals.com/pacific/news/2025/01/30/construction-to-begin-on-2-new-hotels-in-waikoloa.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=HI&j=38416823&senddate=2025-01-30&empos=p4