Redknapp was confirmed in the Loftus Road hotseat on a two-and-a-half year deal on Saturday morning after Hughes was dismissed by the Premier League strugglers the day before.
The former Tottenham boss had been linked with the Hoops but had also hinted at taking over in Ukraine ahead of Saturday's appointment.
The 65-year-old insists Ukraine had been a real possibility but says he was swayed by QPR's interest.
Asked how close he was to taking over in Eastern Europe, he told Sky Sports News: "Very close. It was really a job that excited me, I must be honest.
"We met the people there, they were fantastic.
"The job was exciting, it was something that I'd never done in my life before, to go abroad and coach. And it was something that I really was up for."
He added: "When this job came up, when Mark left the job, it changed everything around.
"Yesterday (Thursday) I was sort of almost on my way to Ukraine. It was something I really fancied doing.
"When we got the phone call saying we'd like to talk to you it changed everything around. But it was an interesting job for sure."