Kona Bay Hotel purchased for $21M

  • The iconic Kona Bay Hotel in historic Kailua Village, seen here in June 2021, has been sold. (Laura Ruminski/West Hawaii Today)

  • The iconic Kona Bay Hotel in historic Kailua Village, seen here in June 2021, has been sold. (Laura Ruminski/West Hawaii Today)

A West Coast-based private equity firm recently purchased the iconic Kona Bay Hotel in the heart of Kailua Village.