Manago Hotel 82-6151 Hawaii Belt Rd 42 Room Hotel Captain Cook, HI 96704 $5,750,000 ($136,905/Room)

Standard Commercial is pleased to offer the Manago Hotel at an improved price of $5.75 million. Located just minutes from Kona in Captain Cook, Hawaii, this fee simple, historic 64-room unbranded boutique hotels features a 2023 James Beard Award-winning restaurant as well as commercial spaces and residential rentals.
HISTORIC SIGNIFICANCE AND UNIQUE CHARM | For the first time on the market, the Manago Hotel offers a glimpse into “old Hawaii,” a charm treasured by locals and visitors alike. This property has been established, owned, and operated continuously by the Manago family, preserving its unique historical allure. The Manago Hotel Restaurant is Hawaii’s oldest restaurant, dating back to 1917.
VALUE-ADD INVESTMENT WITH TREMENDOUS UPSIDE POTENTIAL | The Manago Hotel is currently operating only the restaurant, commercial and residential spaces, with the hotel rooms not in operation, allowing a new owner to immediately implement a value-add strategy without needing to unwind existing operations. Several experienced hotel management companies have expressed interest in taking over operations, enabling a smooth transition and position the asset for quick stabilization and exceptional returns. The vacant hotel rooms and below-market commercial rents offer immediate upside potential, while undeveloped land provides space for desirable new amenities such as a swimming pool and grand lawn. The addition of enhanced food and beverage services and the transformation of an existing bar into a 1920s-themed speakeasy could further increase the property’s value. Moreover, the hotel includes additional rooms currently not included in the room count that could be converted into additional hotel rooms or medium or long-term rentals.
STRATEGIC ENHANCEMENTS FOR REVENUE GROWTH | Meticulously maintained over the years, the hotel’s appeal and financial performance could be significantly boosted by updating it with rustic finishes that reflect its historic character and implementing a modern online marketing and reservation system.
This offering represents a unique investment opportunity to enhance a piece of Hawaii’s history, establishing the Manago Hotel as the premier boutique hotel epitomizing “old Hawaii”.