Ritz-Carlton Residences Waikiki renderingMore than 85% of the planned 309 units at the Ritz-Carlton Residences Waikiki Beach, a condominium hotel currently under development near the Luxury Row shopping district, sold during a highly publicized two-day event wrapping up June 23.

Ranging from studios to three-bedroom condos and a number of penthouses, all selling to investors for prices between $750,000 and $15 million, many of the units in the 38-story, $275 million high-rise will be regularly rented to Waikiki travelers on vacation and managed by Ritz-Carlton.

During the sale event, project developer Pacrep LLC also unveiled plans to open Sushi Sho, an Edo-style sushi bar, at the luxury property as well as a partnership with ESquared Hospitality to bring a second BLT outlet to Hawaii; the BLT Market will be a farm-to-table restaurant.

Construction of the luxury condominium hotel project is slated to begin later this summer and is expected to be finished in time for an early 2016 opening.
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