82-6151 Mamalahoa Hwy, Captain Cook, HI 96704

The Manago Hotel, located in Captain Cook, Hawaii, presents a unique opportunity. This fee simple, historic 64-room unbranded boutique hotel features a 2023 James Beard Award-winning restaurant, commercial spaces, and residential rentals. The Manago Hotel offers a glimpse into “old Hawaii,” a charm treasured by locals and visitors alike. Established, owned, and operated continuously by the Manago family, the property has preserved its unique historical allure. The Manago Hotel Restaurant is Hawaii’s oldest restaurant, dating back to 1917. 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. 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 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. 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”.