The rendering shows the Waikiki Landing project, with Diamond Head in the background.The rendering shows the Waikiki Landing project, with Diamond Head in the background.
The developers of the Waikiki Landing project, a redevelopment of the commercial and boating services at Hawaii’s Ala Wai Small Boat Harbor, are working to find new funding after losing a $25 million loan commitment for the project.
The Honolulu Star-Advertiser Honolulu attorney Keith Kiuchi took over as the Honey Bee USA Inc. project as project developer in March after learning that that a Singapore-based hedge fund had renegged on a $25 million loan commitment to Kiuchi’s client, former Honey Bee principal Hideaki Shimakura, a Japan-based developer and yacht racer.
The newspaper reports Kiuchi is optimistic that he will have a $24 million loan commitment by the end of this month, and is working with the state Department of Land and Natural Resources on keeping the project’s 65-year lease on the land near Waikiki.
Staff Pacific Business News
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