Coco Palms Resort is up for sale again.
The property is owned by Coco Palm Hui LLC, who had planned to re-open the resort after it closed due to damages caused by Hurricane Iniki.
They had planned to re-open the resort initially in 2017, but then pushed it back to mid-2018.
Tyler Greene with Coco Palm Hui LLC says due to past trespassing issues, the project to re-build and re-open the resort was delayed.
“In response to that we had a conversation with our lender about going to market, and felt that we had yo open the opportunity to other developers and/or other joint venture partners that might want to come in and either join us or take over on the the things that we have accomplished there,” said Greene.
Greene says they are negotiating with potential new lenders.
“I’m not sure who the next investor is going be, but I hope that they can work well with our community,” said Kauai Mayor Derek Kawakami.