Hard Money Loan for Vacant Land in Hawaiian Paradise Park, Hawaii

Funded by Myers Capital


Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date


Property Type
Residential Land
Property City

Hawaiian Paradise Park

Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value




Location Type


Property Condition

Vacant Land

Occupancy at Closing


Lot Acreage


Borrower Credit Rating


Interest Rate


Deal Highlights

Borrower took out a cash-out refinance bridge loan on free and clear land in Hawaiian Paradise Park.
The Borrower plans to use the funds as working capital to build a spec home at another location.
Once the spec home is built, Borrower will use the proceeds to pay off the bridge loan.

Deal Summary

Myers Capital Hawaii, a direct private lender, funded a $50,000 1st lien position equity cash-out loan for free-and-clear land in Hawaiian Paradise Park, on the Island of Hawai’i. The property value was estimated at $80,000 so our loan-to-value was 62%. The Borrower plans to use the funds for working capital to build a spec home at another location and sell it for a profit. To exit the loan, the Borrower will use the proceeds from the sale of the spec home to pay off our loan. The loan was held in the name of their LLC, which will help build credit for their real estate business and limit personal liability. The Borrower had an excellent credit score. The subject property was approximately 1 acre. The loan’s interest rate was 12%. The loan term was set at 12 months. This hard money loan was funded in November 2023.

Funded By

Myers Capital

Private Lending for Hawaii Investment Property, Including Land


Reed Myers


Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company based in downtown Honolulu. As a second generation family business owner, Reed is personally involved in over $1.5 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland.