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Coco Palms Kauai Update

The redevelopment of Kauai’s Coco Palms Resort cleared a major hurdle on Tuesday, as the Kauai Planning Commission unanimously approved several permits for the project that aims to restore the iconic Garden Isle hotel to its former glory.

Chad Waters, a managing partner with Coco Palms Hui LLC, the developer of the project, confirmed to PBN on Tuesday that the planning commission voted 6-0 to approve the permits, which include the special management area use, project development use, variance and class IV zoning permits.
The permits clear the way for the developer to begin the demolition of the shuttered resort, which is expected to begin in a few months, according to Waters, who noted that it plans to open the new Hyatt-branded resort in the spring of 2017.

The firm, which is led by Waters and Tyler Greene, managing partners of Honolulu-based Bridge Real Estate, applied for these permits in October.
It also expects to reopen the shuttered Seashell Restaurant, across the highway from Coco Palms, in January 2016.

Late last year, the redevelopment of Coco Palms took another big step when the current owner of the property transferred the property to the lender, Prudential Insurance. Coco Palms Hui told PBN that it was buying the property from Prudential.
The resort, which was featured in the Elvis Presley movie “Blue Hawaii.” suffered extensive damage from Hurricane Iniki in 1992 and never opened. Coco Palms Hui has plans to rebuild the resort with about 350 units, with room rates reflecting the average daily rate on Kauai — about $225.

It’s estimated that the redevelopment of the resort will cost more than $100 million. The redevelopment team includes Agor Architecture, Philpotts & Associates and McKelvey Associates. A construction firm has yet to be chosen.


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