UPDATED STORY: BlackSand Capital, a locally owned Hawaii real estate investment firm announced Monday it is contracted to purchase the Royal Lahaina Resort.
“The Hogan family has been an incredible steward of the iconic Royal Lahaina Resort on Maui for generations, and we are honored to carry that legacy forward,” said B.J. Kobayashi.
Kobayashi Group (KG), a privately owned and managed boutique real estate development and investment firm with its focus solely on Hawaii, will be part of the ownership group.
Pleasant Travel Service will continue to operate the resort until the change of ownership is finalized, which is expected to occur in December 2021. BlackSand will continue to operate the resort after acquisition and into the future.
“We have been seeking an exceptional investment on Maui and we are truly excited about the Royal Lahaina Resort. We are based in Hawai‘i and we invest only in Hawaii," added Kobayashi.
KITV asked BlackSand whether the current employees will be retained in the change in ownership.
BlackSand Capital said, "It is unable to share additional information while the sale is being finalized."
LAHAINA (KITV4) - Around 420 workers at the Royal Lahaina Resort on Maui will lose their jobs right before the holidays.
The company recently told the State Department of Labor and industrial relations that Royal Lahaina Resort is being sold.
Therefore all employees will be terminated on December 8, 2021.
It is unclear at the moment who is buying the hotel which is located on the west side of Maui.
As of Friday, the resort's website is still taking reservations into 2022.