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.
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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.
