The Chamber of Commerce of Hawaii collaborates with a number of business organizations on issues affecting business, with the goal of protecting Hawaii’s economy and creating and preserving local jobs.

Kyo-ya Hotels & Resorts’ proposed redevelopment projects in Waikiki not only protect one of Hawaii’s largest industries — tourism — but also stimulate Hawaii’s economy and provide substantial benefits for the local community.

The redevelopment of the Princess Kaiulani hotel and Diamond Head Tower of the Moana Surfrider hotel is an important piece of the private sector’s reinvestment in Waikiki and are critical to ensuring that Hawaii remains competitive with the world’s most desirable travel destinations for decades to come.

At a time when many other destinations are investing significant resources in modernizing and upgrading resorts to meet the demands of visitors, Kyo-ya is in the process of investing more than $1 billion in the local economy to provide state-of-the-art accommodations for Hawaii travelers.

Revitalizing Waikiki is crucial to the long-term sustainability of the islands, but it is also important to Hawaii’s economic recovery. Kyo-ya’s projects will create hundreds of construction and other types of jobs and inject hundreds of millions of dollars into Hawaii’s economy while raising considerable tax revenue.

In addition to economic benefits, the project offers generous community benefits.

In May, Kyo-ya contributed $500,000 to the state Department of Land and Natural Resources to help pay for the replenishment of sand along 1,700 feet of Waikiki shoreline, widening the beach by 37 feet and giving tourists and locals alike added space to enjoy.

Moreover, the redevelopment of the Moana Surfrider’s Diamond Head Tower will open up views of the ocean from Kalakaua Avenue and offer additional public beach access.

Just as the company has done for 50 years, Kyo-ya has worked closely with the community to address concerns and ensure that its projects do not adversely affect cultural resources, the environment or Waikiki residents.

As a result, the Chamber of Commerce of Hawaii fully supports Kyo-ya’s proposed redevelopment of the Princess Kaiulani Hotel and Diamond Head Tower of the Moana Surfrider.