A Japan-based firm plans to build an apartment complex in Waikiki on a site formerly proposed for a condominium tower called Royal Kahili.

The developer, SBI Hawaii Property One Inc., has not publicly disclosed its plans, but recently sought permits to demolish a pool on the site bordering Namahana Street and Ala Wai Boulevard.

SBI's contractor, Taisei Construction Corp., said an apartment building is planned for the site. A local representative of SBI did not respond to requests for more details yesterday.

The site was previously slated for development of the 208-foot Royal Kahili condo by Nichiei USA Inc., which owned the property and the neighboring Royal Garden Hotel at the time.

Nichiei in 2004 announced plans for the slim 16-floor tower with just 26 units, but abandoned the venture and sold the property a year later to Pacific Century Development & Realty Inc. headed by East Coast developer Salvatore J. Cangiano for $1.7 million.

Cangiano explored developing the site, but instead sold the property in January to SBI for $4.5 million.

The property is 23,750 square feet and formerly was home to 38 apartment units in two three-story structures and two single-family dwellings. Today, the site is vacant except for an empty pool formerly used by Nichiei for its Royal Garden guests.

Nichiei, which had sold many units in the hotel as condos to individual buyers over the last few years, sold the bulk of its remaining interest — about 140 units — for $31 million to Royal Hotel & Spa LLC last year, according to property records. Nichiei still owns about 30 units.

Reach Andrew Gomes at agomes@honoluluadvertiser.com.