Hawaii Honolulu's Pagoda Hotel under new management By Shane Nelson / December 20, 2010 Share 1 -- Effective Dec. 20, Kai Management Services takes over day-to-day operations at Honolulu's Pagoda Hotel. The 359-room property and floating restaurant was purchased by real estate developer Peter Savio in October. "Pagoda Hotel has been a part of the island lifestyle for decades," said Bill Henderson, vice president of development for Aqua Hotels, the parent company of Kai Management. "Many kamaaina families, including mine, have at one time or another enjoyed dining at the floating restaurant, been to a wedding reception or graduation in the ballroom or booked a few nights at the hotel for visiting relatives. "It's always been a place where friends and family felt at home and, with the support of their long-time employees, we are looking forward to bringing back that level of easy comfort and hospitality." According to a Dec. 13 Aqua statement, Peter Savio plans to spend $2 million on upgrades for the floating restaurant and another $4 million in refurbishments to the hotel.