Coco Palms - pic courtesy The Garden Island
Developers of Coco Palms met with the Kauai County Planning Company Monday morning and announced they had secured funding for demolition as well as construction plans.
The construction plans are needed to obtain a building permit,
Private Capital will foot the bill for demolition of the resort, which was destroyed during Hurricane Iniki. The final price of construction is almost $3.5 million.
Coco Palms officials want to breathe new life into the resort, a project that is estimated to be $23 million.
Once the closing papers are in order, demolition will start immediately, a Coco Palms, LLC representative stated.
During the meeting Commissioner Wayne Katayama asked Coco Palms representatives about the timeline of the project. Their representative stated
“The current plan is to open the hotel during the first quarter of 2018.”
The Planning Commission will meet on May 24 to get a status of the progress of the closure with Private Capital.