Disney plans to build a family resort in Hawaii, but it will not be a Pacific island Disneyland.
Disney opened a theme park in Hong Kong in 2005
The company is planning to turn 21 acres of oceanfront property on the island of Oahu into an 800-room luxury hotel complex.
Disney has several resorts near its theme parks in Florida and California but has never built a resort that will stand on its own.
Disney spent $144m to buy the land and the resort is expected to open in 2011.
"This resort hotel will give our guests another way to visit an exciting part of the world with a brand they trust," said Jay Rasulo, chairman of Walt Disney Parks & Resorts.
Mr Rasulo said that Hawaii was one of the most requested destinations by the 350,000 members of its Vacation Club.
Disney Resorts operates 38 resort hotels with more than 35,000 hotel rooms worldwide.