Like many in our community, I have fond memories of the beautiful and iconic Coco Palms Resort. Taking my young children fishing for tilapia in the canal, grabbing happy hour in the late afternoon, enjoying dinner and the torch lighting ceremony, and joining friends for a scrumptious Sunday Brunch — all are wonderful memories embedded firmly and permanently in my psyche.
As a long-time resident of Wailua Homesteads, I have enjoyed both the pleasures and the tragedy of this very special place. My children, who now have children of their own, unfortunately know only of the derelict hulking mass that has sat on the corner of Kuamoo Road and Kuhio Highway for the past 27 years.
I was not shocked or surprised by Allan Parachini’s TGI story Tuesday that began, “Efforts to redevelop the former Coco Palms resort have collapsed, with the two Oahu men behind the project facing foreclosure after defaulting on $11.2 million in financing they used to purchase the property five years ago.”
For me, this news was not unexpected. Prior to entering politics, I spent many years in the real estate business and have met my share of deal-makers. When these particular deal-makers came before the council in 2013 asking for an extension of the “Iniki Permits” to facilitate their proposed re-development of the Coco Palms Resort, mine was the lone “no” vote.
I like to think that I have some experience and good instincts, both in real estate and in politics.
Sorry, I cannot resist a short “I told you so.” My bad.
So no, I was not surprised by the announcement that the Coco Palms redevelopment was collapsing.
I was surprised and extremely disappointed, however, to read in the same article that, “A county spokesperson confirmed that a Stillwater representative … broached the subject of county acquisition of the property, but that county officials said there is no available funding.”
Further frustrating was the reporting that, “(Mayor) Kawakami has publicly supported the idea of making Coco Palms into a park and cultural center, but, the spokesperson said, the mayor did not meet with Stillwater’s representative and that the ongoing reality is the county has no way to finance such a transaction.”
“… the ongoing reality is the county has no way to finance such a transaction.” Mmmmm, excuse me?
Words (or even internet acronyms) suitable for publication in a family newspaper, escape me.
The truth is the county has a zillion ways they could finance such a transaction if they were interested in doing so.
A truism of politics and money: “When government tells you there is no money, what they are really saying is that it’s not a priority.”
At the minimum, the county could ask for some time to “put a deal together” to purchase and redevelop the property. There are many potential partners that have been mentioned before, including the Office of Hawaii Affairs (OHA) and Bishop Estate (Kamehameha Schools) to name just two. In addition, there is the state and federal government and there are private land trusts and foundations with resources and expertise.
Please, someone help me understand this. You have a lender with a distressed property that holds immeasurable cultural and historic value (and tangible real estate value as to its location) coming to the county, offering them the opportunity to preserve, protect and possibly develop the property — and the county gives them the brush off?
The county does not even want to talk? The county does not even want to open a dialogue and explore the possibilities and potential, perhaps look around to see if there are others who might want to partner on this?
I am hopeful that the spokesperson perhaps “misspoke.” I am further hopeful and cautiously optimistic that mayor Kawakami is at this very moment, putting together the broad-based community group that will be supported by the county administration — that will provide the leadership, vision and commitment to make this happen.
•••
Gary Hooser formerly served in the state Senate, where he was majority leader. He also served for eight years on the Kauai County Council and was former director of the state Office of Environmental Quality Control. He serves presently in a volunteer capacity as board president of the Hawaii Alliance for Progressive Action (HAPA) and is executive director of the Pono Hawaii Initiative.
Right on the mark with this commentary. Heck, why not call Zuckerberg and ask for a donation and offer naming rights if he buys that dump and makes it in to a park?
Yep. Gary is the developer realtor on many homesteads large projects, makes millions. Then goes on to be against anyone else making a buck or building a house. He is correct on Coco Palms.
He also MADE and agreement so he didn’t have to pay back 50,000 of taxes he owed to the state. Why GI has made him their boy is a joke
I too hope Mayor Kawakami will put together a bid to acquire Coco Palms.
Seems to me if a private/ commercial group is allowed to move forward we could wind up with nothing but an inappropriate large resort someday that will exacerbate the traffic problems. Fix the road, they will come.
Everyone repeat after me “Fiscal responsibility starts with me”
Perhaps the awakening is even hapa ening to a politician who made his fortune in real estate?
We can only hope and pray that devine intervention occurs soon so that the Hawai’ian lands return to Hawai’ian Hands…. as is Pono.
HAWAIIANKINGDOM.ORG
“The truth is the county has a zillion ways they could finance such a transaction if they were interested in doing so.”
Too bad Gary never pursued any of these when he was on the Council. This had been going on for how long now?
Every body’s got ideas but no one what’s to invest th money necessary to develop a property into something that is not economically feasible; something that cannot stand on its own financially. [Gary, that means generating revenues in excess of the expenses.] Only government does that, but our government has far more pressing issues to solve that need financing. Issues like drug treatment facilities, homelessness, affordable housing, traffic, etc. I always find it entertaining how so many couch potatoes have great ideas for other people’s property.
Knock it all down and build a park. Kapaa do not need the increased traffic
This place should have been torned down over25 years ago was there once because of a hotel overbooking fora nite before the inniki then this place needed a overhaul or be torn down .now it’s still an eye sore . Since92 it’s should of could of . The county should show some balls . Take it over make it a park a senior area and or put another hospital in it’s place we do not need more traffic that will come with a hotel this is my opinon
Z, because hospitals or parks don’t generate any traffic???? show some brains eh.
Just to quickly clarify. As much as my wife might wish it to be true, I have not made millions on real estate or anything. I was a minor partner in two developments in Wailua Homesteads some years ago – a 15 lot subdivision and a 24 lot subdivision. Both of the parcels were already zoned residential and so no rezoning or any government concessions were needed nor sought. In addition, readers should note that public records will show that while nearly 30 years ago (before I was in politics), the state did waive interest/penalty charges on GET taxes that were due on my previous business income, myself and my business partners at the time paid 100% of the taxes due. Further for those that say “Why didn’t you do something about Coco Palms when you were in public office?” This is a legitimate question. The answer is that I tried to do several things but was unable to get the support of other council members. As mentioned in this article, I was the only council member willing to vote No on the “Iniki Ordinance” extension. Plus, working with various community members at the time, I/We had secured a commitment from the State to fund a community based planning process intended to result in a community solution (park, cultural center etc). When the present two developers stepped in, the political forces at the time said “let the private sector do it”…our community based effort was put on hold…and here we are today.
Mr Hooser, you can’t win. Either you are a govt wacky liberal or you’re a greedy private land developer. Lol. Take your pick on any given day.
Looks like a great affordable rental project in the making.
The Housing agency should buy it at the foreclosure auction and rebuild the hotel rooms as affordable rentals.
I know I’m a day late from the original article “Coco Palm collaps”
But I wouldn’t be me if i didn’t put in My Two Cents..
SO AFTER ALL THAT!! After all that humbug with that people living there.
After allThe imihana
after all the eviction notice,
after all the court dates
after all the news coverage.
Showing off how much money and lawyers you get.
NUTHIN YOU GET NUTHIN OUT OF IT!?!
POHO DA GRUB!
LOSE MONEY!!
WASTE TIME!!
Should have let the people who was living there.. live there they were not hurting anyone..
you guys wonder why we just don’t like rich haoles.
No Mark we didn’t want you in hanalei and we don’t want you in this either. Take your money and go buy a deserted island somewhere only you and billionaire buddies can show off who has the biggest di.. bank account…We got this.
I (along with others) am watching this new Mayor closely, and so far I like what I see. It would indeed be fiscally irresponsible for the County to take on the Coco Palms when they can’t even maintain the parks they have or fix/improve the roads. Unlike past politicians, this Mayor looks to fix what the County already has instead of blowing money on pipe dreams. Good Job Mayor!
Further for those that say “Why didn’t you do something about Coco Palms when you were in public office?” This is a legitimate question. The answer is that I tried to do several things but was unable to get the support of other council members.
That is why you lost the Council race, Gary. You were totally ineffective at gaining support because you just wanted to push your own agenda instead of establishing cooperative relationships.