Coco Palms Resort Hotel Wailua Beach Kauai HAWAII FULL Matchbook For Sale

Coco Palms Resort Hotel Wailua Beach Kauai HAWAII FULL Matchbook
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Coco Palms redevelopment begins on KauaiBy Christina Jelski Mar 19, 2024
The redevelopment of Kauai\'s long-shuttered Coco Palms Resort has commenced.
The historic Wailua property ceased operations in 1992 after sustaining significant damage from Hurricane Iniki. It has remained closed since.
Developer Reef Capital Partners, which took ownership of the property in 2022, said it plans to invest more than $400 million in the demolition, construction and restoration of the site, with a modernized iteration of the resort expected to open in 2026.
The endeavor began with the removal of dilapidated hotel structures earlier this month.

\"We are deeply committed to being responsible stewards of this historic landmark,\" said Reef Capital Partners CFO Jon Day in a statement. \"As new owners, we hope that fulfilling the promise of removing these structures after decades of past failure is a clear demonstration of our commitment.\"

Reef Capital Partners also said that it would be engaging in \"archeological and cultural monitoring\" throughout the project, and that it has tapped a cultural advisory committee made up local Native Hawaiians to \"help guide restoration of the site.\"

The restored resort will have fewer guestrooms -- from the original property\'s 400 rooms to 350 rooms -- as well as a cultural center, spa and taro farm. The project will also involve a revival of several dining venues from the original Coco Palms, including the Lotus, Flame and Seashell restaurants.

Reef Capital\'s redevelopment efforts follow decades of failed attempts to revive the Coco Palms, including a 2015 plan to reconstruct the property and reopen it as a Hyatt resort.

First opened in 1953, the Coco Palms is known as the setting of the 1961 film \"Blue Hawaii\" starring Elvis Presley.

FROM WIKIPEDIA:

Coco Palms Resort was a resort hotel in Wailuā, Kauaʻi, Hawaiʻi, that was noted for its Hollywood connections, Hawaiian-themed weddings, torch lighting ceremonies, destruction by a hurricane, and long-standing land disputes. The resort includes or is near to many culturally significant spots and the sites of some of the most important legends and historical events for Native Hawaiians.

The land is ancient Hawaiian royal property that has been in dispute since 1866. In that year, Junius Kaae, along with Kapiolani, Kalakaua, and others filed a petition seeking to revoke the will of Kealiiahonui, which had been filed in probate by Levi Haʻalelea in 1855. The petition was eventually overturned by Sanford B. Dole almost immediately after the overthrow of the Kingdom of Hawaii. Dole acted as a justice of the supreme court of the provincial government after stepping down from the bench and then being seated as president of the Republic of Hawaii. Litigants were made to sign an agreement for this adjudication to be allowed by Dole.

Lyle Guslander leased the site of Coco Palms from the Territory of Hawaii in 1952; the resort opened in early 1953. The hotel manager, Grace Buscher, took control of marketing the hotel as a Hawaiian-style getaway for tourists. A number of films were shot on location at Coco Palms, including Elvis Presley\'s film Blue Hawaii. The hotel made a big business out of Hawaiian-style weddings for decades. Buscher started a tradition, still in use at hotels throughout the islands, known at the hotel as the torch-lighting ceremony. Buscher also initiated a tree-planting ceremony to replenish the old coconut grove and honor individuals of note.

Coco Palms was destroyed by Hurricane Iniki in 1992. In 2016, Honolulu developers GreeneWaters LLC formed a partnership, Coco Palms Hui LLC, to restore the resort. Their intent was to reopen Coco Palms \"as part of Hyatt\'s Unbound Collection.\" In 2019 the project collapsed. RP21 Coco Palms LLC, also known as Reef Capital Partners, plans to construct a 350-room resort to be completed in 2026.

The area around the mouth of the Wailua River is well known to Hawaiians as a place of many legends and events of historical, cultural, and religious significance. It is the landing place of the Kahiki voyagers, who came ashore at Kauaʻi in about 500 AD, and the location of Hawaiian legends like the prophet Naula-a-Maihea and the origins of the Naha stone. According to the book The Story of the Coco Palms Hotel, by David P. Penhallow, the Coco Palms Resort sits on an ancient site of Hawaiian royalty and hospitality situated at the mouth of the Wailua River on the eastern side of Kauai.

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