Adventure park sold

Australian company buys Hawaiian Waters Park for $27 million

Australia's largest theme park operator has acquired Hawaiian Waters Adventure Park in Kapolei.

Village Roadshow Ltd. will pay $27 million to acquire the assets of the water park, with the transaction expected to close in early May.

"They want to march forward with what we've accomplished, and build upon that," said Jerry Pupillo, president and general manager of Hawaiian Waters Adventure Park. "They have a goal, like with their other parks, to build a world-class facility. It's a great alliance for us, moving forward, and helping the park realize its full potential."

The existing staff of between 150 to 250 (during peak season) is expected to stay, said Pupillo.

Graham Burke, VRL's managing director, said the company's vision is to create a world-class, family-oriented park experience on 30 acres, applying its highly successful Gold Coast formula.

"We like the water park space because it is for families what a day at the beach was when we were kids, but there is more to do and there aren't nasty stingers or sharks," he said. "It is also the perfect meeting place for teens and young adults."

Burke said Kapolei's growth was another contributing factor to the park's attractiveness.

The park, opened in 1999 by Waters of Kapolei LLC, has expanded over the years to include Da Flowrider, a standing wave ride that cost $1.5 million, as well as a $1 million miniature golf park.

This is VRL's first major theme park acquisition in the United States, he said, with others in the works.

Pupillo said new attractions will be coming to Hawaiian Waters including a rides nearly double the cost of the Flowrider.

VRL, based in Melbourne, is a leading international entertainment and media company, with one of the most recognized brands on Australia's Gold Coast.

It owns and operates Sea World, Wet 'n' Wild Water World, Warner Bros. Movie World, and Australian Outback Spectacular, among others. Last year, its theme parks brought in more than 4.2 million guests.