#kamehameha-schools

#kamehameha-schools

It was one of the last remaining pieces of beachfront land in Waikiki that was still owned by a Hawaiian trust. Now, though, the land under the iconic Royal Hawaiian Hotel, also known as the "Pink Palace of the Pacific," has been sold. Landowner Kamehameha Schools announced earlier this month that it had sold the 10.3-acre parcel for $510 million to Daisho Co. Ltd., a Japan-based real estate company. It's the second major property sale the trust has sold this year. In September, it sold nearly 500 acres under the Four Seasons Resort Hualalai on Hawaii Island to billionaire Michael Dell for an estimated $400 million.

The founder and CEO of Dell Technologies, Michael Dell, purchased 491 acres of land on Hawaii Island. The sale took place in late August, according to Pacific Business News, and cost an estimated $400 million. The purchase involved land on the Kona coastline underneath the Four Seasons Hualalai Resort and golf course. Dell already owned the resort but the land on which it sat was previously leased.