Waikiki hotel will become Outrigger condo

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HONOLULU -- The Waikiki Terrace Hotel will change ownership and undergo an $11 million renovation before its conversion to upscale condominium units in April.

The property will then be rebranded as Outrigger Luana Waikiki.

Plans include converting the 242-room hotel to 217 condominium units comprised of 186 studio suites, 29 one-bedroom suites and two 2-bedroom suites.

Units will receive new furniture and fixtures, and public areas will be enhanced.

Renovations have already begun on the property, located adjacent to Fort DeRussy Park on Kalakaua Avenue.

Throughout the renovation period, the hotel will continue to accept reservations.

Outrigger Hotels & Resorts will begin managing the 17-story building in December when the owner becomes Waikiki Terrace LLC, a recently formed company that's headquartered here.

Terms of the sale were not disclosed.

To contact reporter Katherine Nichols, send e-mail to [email protected].

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