The master developer of Ocean Pointe and Hoakalei Resort has put a lagoon-front parcel up for sale for development as part of the 1,100-acre Ewa Beach project, the first hotel or timeshare complex.

Haseko, the developer of the mixed-use development, said the offer represents a turning point in a three-decade journey to realizing his vision for the area, which has taken major turns including the transformation of a planned 600-slip marina into a 52-acre recreational lagoon.

“We are excited to make this prime building site available at Hoakalei Resort,” the company said in a statement. “Our goal has always been to create an exciting and experiential waterfront recreational destination that is open year-round and welcomes residents and visitors of all ages to celebrate and enjoy the island lifestyle.”

The asking price for the 5.5-acre property bordering Hoakalei’s Wai Kai lagoon is $25 million and is suitable for the construction of a hotel of about 225 rooms or a timeshare complex, according to real estate firm Colliers International, which represents Haseko.

“The (expected) selection of the first hotel developer marks a critical milestone in the development of Wai Kai at Hoakalei and ushers in a new era of luxury and leisure for our valued guests,” said Mark Bratton, a Colliers agent, in a statement.

Haseko has 31.4 hectares of vacant, resort-zoned land on which it plans future developments based on market demand. The company has long planned to add up to 950 guest accommodations for hotel, timeshare or condominium use in addition to 4,850 homes.

The development of the planned community, originally called Ewa Marina, began in 1997.

The decision not to have a marina as the focal point of the community was announced in 2011 and was largely due to a lack of demand for market-standard boat moorings and the cost of digging a channel to the sea, Haseko said at the time. Instead, the developer turned its excavated basin, which is naturally filled with brackish water, into a recreational lagoon.

Other parts of the community include the Hoakalei Country Club, which opened in 2009, and a commercial complex opening in 2023, featuring a man-made surf wave attraction, three restaurants, a cafe and bar, two event lawns, and lagoon equipment rental, to name a few.