New hotel construction planned for Hilton Head. Here’s where and when it’s expected to open

Hilton Head Island is getting a new hotel designed for travelers seeking a home away from home.

The Town of Hilton Head issued a permit to Illinois-based Crevo Capital Holding LLC for the hotel Monday. It replaces an existing development at 2 Tanglewood Drive, one block from the beach in the South Forest Beach area. It’s set to be open before the summer of 2027.

It will be called The Wave, and feature 20 rooms designed for two, three or four occupants. It’s planned to span three stories and contain 60 bedrooms.

A press release from Crevo Capital describes The Wave as a boutique residential-style hotel, with privacy and space superior to traditional hotels. The rooms will have a private balcony, full kitchen and private bathrooms for each bedroom.

The Wave will feature an outdoor resort-style pool, a gym and a lounge. It will have covered parking on-site, as well as complimentary beach chairs and bikes.

This is not Crevo Capital’s first development on Hilton Head Island. It developed The Homes at Olive Shell, a community of 40 town home rentals. According to previous Island Packet reporting, Olive Shell replaced mobile home plots, which housed 60 Hilton Head Island service-industry workers.

Crevo Capital offered the mobile home residents a four-month extension on their leases to allow them time to relocate. One resident, Yulissa Turcios, said she feared having to move off the island.

The Wave is set to replace a resort development, not a residential one. Crevo Capital’s other developments are in Illinois and consist of residential and student housing. The Wave is Crevo Capital’s first hotel development.

Crevo Capital plans to break ground in June 2026. It estimates construction to be finished in April or May 2027. North Carolina-based Samset Corporation will handle construction.

More information and updates can be found on The Wave’s site and Instagram page.