Kauanoe o Kōloa

Executive Summary

5425 Pau A Laka, LLC owns 25.386 acres of fully entitled vacant land located within the Kiahuna Poipu Golf Resort in Koloa, Kauai, Hawaii. Kauanoe o Koloa (the “Project”) is a 279-condominium Meridian Pacific (the “Developer”) development situated on the Kiahuna property just one mile north of the popular Poipu Beach and its surrounding luxury resorts.

Prior to vertical construction, 72 units (Phase 1) are in escrow with hard deposits with sales that total over $97 million. The Project will be developed in four phases with civil site work currently 80% complete.

The Project is likely the last condominium development on Kauai to be within a coveted Visitor Destination Area (VDA) allowing for short term transient vacation rentals that provide homeowners with income-producing properties. The Developer will retain 20 units for its vacation rental program earning up to $120k in annual net revenue per unit. Demand for Kauai homes has dramatically increased since last year and at higher sales prices than those in exclusively zoned residential areas.