Hawaii’s high-end resorts, such as Four Seasons Hualalai, are drawing global attention with lavish amenities and national accolades, even as new laws move to phase out thousands of vacation rentals.

KAILUA-KONA — Two hundred family units at La’ilani Apartments are among 1,221 affordable housing units being sold by the state to a Hawaii and California real estate development partnership. La’ilani, ...