Hard Rock Hotel Int'l is planning to open its first Hawaii-based property, to complete the plans, The Yacht Harbor tower of the Ilikai hotel is expected to be reflagged as a Hard Rock property after a pending sale is completed next month.

Brian Anderson of Anekona Islander, who is negotiating to buy 703 rooms of the hotel, reportedly is talking to eRealty Companies, a San Diego-based real estate investment fund, about partnering on the deal. Renaissance, the Marriott brand under which the property currently operates, will not remain after the sale and the new owners are talking with Hard Rock, which would take over management.

The Hard Rock name and brand is expected to bring much-needed traffic and pizzazz to the Waikiki landmark, one of the island's first high-rise hotels. The Y-shaped building was developed by the legendary Chinn Ho.

The current owner of the condominium hotel is Forward One, a California-based firm allied with the Zen family of Taiwan. It previously was operated as a Japan Airlines' Nikko Hotel and still relies on business from Japan Airlines' flight crews.

The eRealty Fund, an investment firm that specializes in buying, renovating and selling undervalued properties, has shown an interest in the Ilikai, according to sources close to the deal.

Recently, eRealty acquired and transformed the Ohana Waikiki Surf and the Ohana Waikiki Surf East hotels into the Wyland Waikiki, a boutique hotel on Kuhio Avenue. The Wyland Waikiki is expected to open within a couple of months.