Baccarat Wailea Maui on Hold

Plans for the luxury Baccarat Wailea Resort & Residences on Maui have been put on hold. Starwood Capital Group announced the project in 2007, and sales reached $300 million in its initial offering. But Starwood said it is putting the project, which was slated to open in 2010, on hold. “We are going to take some time and pause to determine the proper course of action for our properties and evaluate some additional possibilities,” the company said in a written statement. The resort was to be built at the site of the former Renaissance Wailea Beach Resort.