The developer of the residential luxury tower Allure Waikiki rising at the former Wave Waikiki nightclub site is concentrating part of its marketing effort on investors in Asia.

Fifield Cos., the developer of the 291-unit project, has partnered with Honolulu-based real estate firm NAI ChaneyBrooks to open a sales and marketing office in Tokyo.

The sales office in the Imperial Hotel Office Tower in Tokyo's glitzy Ginza district was established to also sell units in another Fifield condo project, Allure Las Vegas.

Steve Sombrero, president of ChaneyBrooks, said it's an opportune time to open a Tokyo sales office because of what he called the economic pendulum shifting towards Asia and Japan. "The yen is at an all time high and the Japanese are once again ready to invest," he said in a statement.

Sales agents in the office plan to take the marketing effort on the road to Seoul, Singapore, Shanghai and Beijing, Sombrero added. "We are currently in a buyer's market and therefore we are venturing out to the markets where the buyers reside."

Prices for Allure Waikiki units range from $668,050 to $2.1 million. As of about three weeks ago, the project reported having about 60 binding sales contracts, and the developer aims to have all units sold upon completion of construction slated for early 2010.