Waikiki's Queen Kapiolani Hotel sold to California firm for $51M

ProspectHill Group has acquired the leasehold Queen Kapiolani Hotel in Waikiki for $51.3 million, an executive from the California real estate investment firm confirmed to PBN. Honolulu-based CunhaAina LLC, which has ties to the Bishop Trust Co. Ltd., owns the 36,334-square-foot land under the 312-room hotel that is located at 150 Kapahulu Ave. near the corner of Kapahulu and Kalakaua avenues. ProspectHill bought the building from another California firm — YHB Hospitality Group — which also…