The Capbridge Group and its Honolulu-based subsidiary, Capbridge Pacific, LLC, has announced the purchase of a 28-acre beachfront property in Kihei, Maui, formerly known as the Maui Lu Resort. The company is working with Hilton Grand Vacations to renovate the property into a timeshare resort. They plan to break ground in late 2015 and open in 2017.

The $300 million redevelopment project is The Capbridge Group’s first in Hawaii and will be the first Hilton Grand Vacations Club property in Maui. The Capbridge Group chose Hilton Grand Vacations to manage timeshare sales and resort operations due to its extensive history in developing, selling, and operating successful timeshare resorts in Hawaii.

Located on the eastern edge of Maalaea Bay adjacent to the Humpback Whale Sanctuary Visitor Center and Kalepolepo Beach Park, a State Conservation area, the new resort will be developed as a villa-style, Hawaiian resort. It will feature 388 one-, two-, and three-bedroom units as well as a super pool, fitness center, and kids and teen centers. The resort is conveniently located just 15 minutes from the Kahului Airport and is close to various restaurants, shops, and bars in Kihei and Wailea. Additionally, the new resort will boast 740 feet of oceanfront property from its private beach club and great lawn on Maui’s longest beach.

“The Capbridge Group and Capbridge Pacific are looking forward to developing our first major project in Hawaii, which will provide a significant improvement to Kihei and a major economic boost to Maui,” Will Beaton, president of Capbridge Pacific, stated. He added, “Maui continues to be one of the most desirable destinations for the vacation ownership market. Hawaii’s relationship, from both a geographic and business perspective, with both the U.S. mainland and the Asia-Pacific region, is a great fit with our company’s growth and investment strategy.”

The Capbridge Group is headquartered in Tokyo, Japan, with branches in Honolulu, San Francisco, and Shanghai. Beaton heads the Honolulu office and has over 26 years of land development experience in Hawaii, including projects such as One Archer Lane and Wailea Beach Villas on Maui.

Kihei is known for its number of small hotels, condominiums, and cottages. The new Hilton Grand Vacations resort will be the first Hilton-branded timeshare project in Maui. As part of its Waldorf Astoria Resort brand, Hilton Worldwide also manages the Grand Wailea. Hilton Grand Vacations will be responsible for sales, marketing, and ongoing management of the resort.

“We are delighted to work with Hilton grand Vacations to revitalize this area of Maui, which holds a special place in Maui’s tourism history,” Beaton said. “The plans for this resort, coupled with the quality of the Hilton Grand Vacations Club product and the strength of the Hilton brand will offer visitors another exceptional vacation experience on Maui.”

“Hilton Vacations is thrilled to be a part of this new resort development and we are excited to soon have a presence on the island of Maui,” Mark Wang, president of Hilton Grand Vacations, said. “This new resort will be an outstanding addition to our portfolio of vacation destinations and ownership opportunities in Hawaii.”