The 34-year-old from Dublin was chased through the apartment complex and around the communal swimming pool dodging bullets fired by the masked gunman before being cornered and shot several times in the head.
Witnesses have told police that the gunman then escaped in a waiting BMW, a vehicle later found abandoned in nearby Marbella.
It is the second killing in the town within a week. On Thursday September 18th a Colombian man was gunned down in a nearby carpark. It is reported that he was shot seven times by two men who escaped on a motorcycle.
The Civil Guard are investigating whether the two shootings may be linked.
Hutch, a convicted armed robber, was known to have close links with Irish crime syndicate involved in drug trafficking and had survived a murder attempt in Marbella last summer, according to a report in the The Irish Times.