Boutique Hotel Hits the Hilo MarketMarch 20, 2019, 1:59 PM HST (Updated March 20, 2019, 3:40 PM)
A boutique hotel in Hilo, the Wild Ginger Inn, once described by BuzzFeed News as “the best cheap-ish hotel in all of Hawaii” has hit the market for $2.2 million, listed by Kelly and Kona Moran of Hilo Brokers Ltd.
Located across the bridge from Downtown Hilo and fronting the Waipilopilo Stream, the hotel dates back to the 1920s.
Originally built as a housing facility for plantation workers, the property was converted in the 1950s to an inn with 27 private bedrooms.
It currently encompasses 38 rooms, and has positive potential for future expansion, according to the agents listing the property.
They described “steady interest” since the property hit the market, attributing a wide variety of prospective buyers to the hotel’s “resort zoning and close proximity to Hilo Bay and Downtown Hilo.”
Kelly Moran, the founder of Hilo Brokers, described an increasing investor focus on resort-zoned properties after recent moves by Hawai‘i County to crack down on vacation rentals operating in residential zoning districts.
“Resort zoning was already a rare commodity in the past,” explained Moran. “We expect that property classification to be even more coveted moving forward.”
The Wild Ginger Inn is currently owned by the Love family, who purchased the property for $1.3 million in 2005.