Waikiki Beach gets first new luxury property in 20 years as Trump Hotel opens

Monday, November 16, 2009

Trump Hotel opens in Waikiki

HONOLULU — The Trump International Hotel & Tower Waikiki Beach Walk, the first new Waikiki luxury property to open in more than 20 years, welcomed its first guests Monday.

Guests were greeted with Hawaiian dance and live music.

The 38-story, 463-unit tower is located steps from the sand and Fort DeRussy Park. It features a library, wine cellar and a spa, along with 24-hour room, valet and concierge services. The fully furnished suites, which have views of the Pacific and the Honolulu skyline, feature everything from high-end appliances to Italian marble counters.

“It is our hope that we can bring more focus to Waikiki, that we can bring people’s attention to Hawaii as a destination,” Trump Waikiki director Scott Ingwers said.

Nightly rates run from $250 for a studio unit to $8,000 for the penthouse suite.

Three years ago, near the height of the housing bubble in Hawaii, some 1,600 potential buyers from around the world tried to reserve units in the first project in Hawaii branded with celebrity tycoon Donald Trump’s name. In just eight hours, all suites were sold for an average $1.5 million.

The $700 million in sales set a world record for dollar and unit volume sold on a single day in a residential development, Trump Waikiki said.

The luxury development has been at the center of a legal spat since July, however, when buyers of 11 condominiums, totaling about $22 million, sued to cancel their sales contracts. They argued developer Irongate wrongly stated in 2006 that Donald Trump was a co-developer of the 38-story project.

Their attorney, Warren Price, argued that Irongate concealed the terms and conditions of a license allowing Irongate to use Trump’s name. Price also said Irongate was legally obligated to show the license to Price’s clients before they signed their sales contracts.

California-based Irongate countersued, alleging it was the target of a “sham lawsuit,” and that the buyers who filed suit appeared to be have a “case of buyers’ remorse.”

will not be displayed