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Can A $400+ Million Loan Push The Stagnant Coco Palms Project Ahead?
The deal includes $186 million in conventional lending and $245 million in C-PACE financing, with construction slated to begin next year.
- Developers secured $431 million in financing this week for the Coco Palms resort on Kauaʻi, comprising $186 million in conventional loans and $245 million through the C-PACE program.
- Closed since Hurricane Iniki ravaged the island in 1992, the resort faces no new shoreline setback rules because permits were approved under an ordinance that expired in 2015.
- Former state senator and Kauaʻi council member Gary Hooser said the project faces "Skeptical At Best" prospects, citing a history of failed promises and concerns regarding Native Hawaiian burial grounds.
- Jon Day, chief financial officer at Reef Capital Partners, said workers will arrive by late summer, with the project expected to create over 1,000 construction jobs and 350 permanent positions.
- Branded as Coco Palms, A Kimpton Resort, the project targets a 2028 opening following a multimillion-dollar demolition phase that began in 2024 to clear the site's concrete structures.
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13 Articles
13 Articles
Associated Press News+11 Reposted by 11 other sources
Can A $400+ Million Loan Push The Stagnant Coco Palms Project Ahead?
Developers behind the planned rebirth of Kaua‘i’s famed Coco Palms hotel have secured a $431 million loan to reconstruct the 1953 resort where Elvis Presley’s “Blue Hawaii” was filmed.
·New York, United States
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right2Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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