Ground has been broken on what is being called "Oahu's largest master-planned resort development" with the initial phase expected to be completed in late 1988.
It is the Ko Olina Resort, situated on 1,015 acres near Honolulu International Airport. The resort will eventually have eight hotels, 5,200 condominiums, four saltwater lagoons, 1.5 miles of new shoreline for a total of nearly 2 miles of beach area, an 18-hole golf course and a marina with mooring for 400 boats.
Cost of the project was not released, but the Sept. 15 issue of the Hawaiian publication, Pacific Business News/Real Estate Digest, reported it at $2 billion. SKG Properties, majority owner of Ko Olina, is a partnership of two Japanese companies: Kumagai Gumi and TSA, two firms that are also involved in the Hyatt Regency Waikoloa, the Westin Kauai and the Westin Maui.