KIHEI, HI—The Capbridge Group and its local subsidiary, Capbridge Pacific LLC, have announced the purchase of a 28-acre beachfront property located in Kihei, Maui, formerly known as the Maui Lu Resort.

The company is collaborating with Hilton Grand Vacations to redevelop the property into a timeshare resort that will break ground in late 2015 and open in 2017. The $300 million redevelopment project is The Capbridge Group's first venture in Hawaii and will be the first Hilton Grand Vacations property on the island of Maui. The company has chosen Hilton Grand Vacations to manage the timeshare sales and the hotel operations due to its vast experience in developing, selling and operating successful timeshare resorts in Hawaii.

Situated on the eastern edge of Maalaea Bay adjacent to the Humpback Whale Sanctuary Visitor Center and Kalepolepo Beach Park, a state conservation area, the new resort will be developed as a villa-style, Hawaiian resort featuring 388 one-, two-, and three-bedroom residences. The resort also will feature a super pool, fitness center, and kids and teen centers. Conveniently located, the resort is only 15 minutes from the Kahului Airport and near a variety of restaurant, shopping, and nightlife destinations in Kihei and Wailea. The new resort will boast 740 feet of oceanfront property from its private beach club and great lawn on Maui's longest beach.