First Hawaiian Bank has filed a lawsuit to foreclose on the W Honolulu-Diamond Head Hotel owned by troubled Big Island developer Brian Anderson.

The bank filed the suit Oct. 27 in state Circuit Court after Anderson and his company, Anekona W LLC, defaulted on a $5 million loan issued in August 2004. The complaint also names Anderson's wife, Joan, and sons, Brad and Cord.

The embattled developer, who is embroiled in numerous lawsuits involving a failed attempt to redevelop the iconic Ilikai hotel, bought the upscale 50-room boutique property managed by Starwood Hotels & Resorts Worldwide Inc. in 2004.

Anderson said he didn't know anything about the latest foreclosure action. But in recent years, he repeatedly has failed to sell the property at 2885 Kalakaua Ave., which sits on leasehold and fee-simple land.

His attorney, Gary Dubin, couldn't be reached for comment yesterday. An attorney for First Hawaiian said the bank hoped to amicably resolve the suit.

Earlier this year, Anderson was slapped with a $72.6 million foreclosure on the Ilikai by New York-based iStar FM Loans LLC, in addition to a number of complaints filed by investors and condominium owners.

On Oct. 29, local hotel consultant Joseph Toy became the court-appointed receiver for the Ilikai property, another step in the foreclosure process.

“;All it means if they appoint a commissioner is that they're getting serious about foreclosing,”; said local developer Peter Savio, who earlier put in a bid to purchase more than 200 units at the circa-1964 hotel. “;It just means they'll get very realistic on pricing, (sales) terms and conditions. It will force everybody to look at it very clearly.”;

According to the latest suit, Anekona owes First Hawaiian $4.9 million, including a principal balance of nearly $4.8 million, more than $140,000 in accrued interest and a $12,000 extension fee.

The entire loan amount became immediately due and payable when the loan matured on Oct. 6.