Bridge Loan for Residential Land in Kealakekua, Hawaii

Funded by Myers Capital


Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date


Property Type
Residential Land
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value




Property Neighborhood


Location Type


Property Condition


Occupancy at Closing


Borrower's Plan


Exit Strategy


Borrower Credit Rating


Interest Rate


Deal Highlights

Borrower utilized a cash-out refinance bridge loan on land in the city of Kealakekua, Hawaii.
Borrower used the funds to pay off seller financing used to initially acquire the land.
The remaining cash out funds will be combined with their own funds to build a spec home.

Deal Summary

Myers Capital Hawaii, a mortgage banking company and direct private lender, funded a $322,000 1st lien position equity cash-out bridge loan for residential land in Kealakekua on Hawaii Island. The property value was estimated at $460,000 so our loan-to-value was 70%. The Borrower used the funds to pay off the seller financing that was initially used to acquire the land. They will use the remaining cash-out funds as working capital and combine it with their own funds to build a spec home on the land, which will be sold for a profit. Our loan will be paid off upon the sale of the home. The Borrower is a general contractor with excellent credit. The loan’s interest rate was set at 13%. The loan term was set at 12 months. This bridge loan was funded in May 2024.

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.