Walt Disney Parks & Resorts finalized plans to purchase 21 acres of oceanfront property on Hawaii’s island of Oahu and will build a resort destination scheduled to open in 2011. 

The property on the island’s western side in the picturesque Ko Olina Resort & Marina, one of Honolulu’s premier resort destinations, will be Disney’s first mixed-use family resort outside of its theme-park developments. The resort will feature 350 hotel rooms and 480 vacation villas for Disney Vacation Club members, as well as an 8,000-square foot conference center and 18,000-square foot spa, according to several news reports.

“Ko Olina means ‘place of joy,’ and I can’t imagine a more perfect fit here than a Disney resort,” says Jeff Stone, president of The Resort Group and master developer of the Ko Olina development, who has been working with Disney on the land acquisition and project.

Jay Rasulo, chairman of Walt Disney Parks & Resorts, says Hawaii has been one of the most requested Disney Vacation Club getaway locations beyond the theme parks. “This resort hotel will give our guests another way to visit an exciting part of the world with a brand they trust,” he says.