The H&M clothing store, eagerly anticipated in the Wai­kiki Business Plaza for the past year, will open to the public at noon March 27 following a VIP event the night before.

H&M North America President Daniel Kulle believes that at Kala­kaua and Seaside avenues, the company has found the "Wai­kiki-key corner" for its flagship Hawaii store, the first of many he hopes to open.

"We see lots of H&M stores on the islands," he said in a telephone interview Tuesday.

The company is "always looking" for new market areas, Kulle said, "to see whether we have growth potential, and Hawaii is one big (market) with a lot of potential" between the local population and the visitor market.

Given logistics and the cost of shipping garments to Hawaii, it would not make economic sense for the global retailer to have but one store in the islands.

H&M has stores in global centers such as London, Paris, Tokyo and Los Angeles. Kulle said he "fell in love" with the vibe in Wai­kiki while here conducting market research. He said he especially liked the proximity of the Wai­kiki Business Plaza to high-end retailers such as Gucci, Prada and Cartier.

"Japanese consumers are very up on fashion, and we have now mainland Chinese visitors with purchasing power," Kulle said. When he saw what he described as a "vibrant retail scene," he thought, "H&M should be here," he said, adding that the company has long served Hawaii shoppers via catalog and online orders.

H&M’s typical customer has what Kulle called a "mental age" of 18 to 35 and is interested in fashion and value.

Learning of the store’s opening plans was "exciting" for Sheri Saka­moto, president of the Retail Merchants of Hawaii.

"Retail is such a huge part of Hawaii’s economy," and for the visitor industry "it is an important element that keeps Wai­kiki alive and vibrant," Saka­moto said.

That H&M carries affordable clothing will be a big draw for visitors and locals alike, she said.

It is sure to provide competition to the nearby Forever 21 at Royal Hawaiian Center.

H&M has hired 160 Hawaii residents as sales advisers, including some 20 who will be enjoying a "homecoming," Kulle said, because they are former Hawaii residents transferring from other H&M locations. Of the 10 management employees for the store, four were hired locally, Kulle said.

The employees will work in several departments in 31,000 square feet spread over two levels.

H&M has 150 in-house designers in its home base of Stockholm and is branded as a design-driven retailer. All the store’s designs are manufactured for H&M, which means the store won’t be carrying locally designed garments or accessories. However, the design of the store is meant to reflect its Hawaii location, "and we pick up trends from throughout the world," Kulle said, so H&M design teams might draw upon isle influences.

The store offers free parking with validation in the 500-stall Wai­kiki Business Plaza, which also has other businesses and retail stores within its footprint.

One thing notably missing from H&M’s Wai­kiki-key corner is the long-standing Wai­kiki Business Plaza signage, which for decades topped an iconic waterfall with a mosaic of koi, or carp, swimming upward, reflecting Japa­nese and Chinese symbolism for perseverance and power.

Neither H&M officials nor the ownership of the Wai­kiki Business Plaza were able to answer questions about the fate of the mosaic Tuesday afternoon.

Prior to the public opening, an invitation-only VIP event will feature a surf theme with large installations of surfing images captured by famous photographers, an appearance by the band Best Coast and shopping opportunities for some 500 guests. The opening will benefit AccesSurf Hawaii, a nonprofit serving the disabled community with adaptive access to ocean and water recreation.

H&M will open to the public at noon March 27, with tote bags featuring the surf images and including H&M Access to Fashion passes valued from $10 to $500. DJs and food vendors also will be part of the festivities.