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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
06/09/2025
Property Type
Property City
Kihei
Property State
HI
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,100,000
Loan-to-Value
49.27%
Construction Budget
$1,092,000
Construction Budget Funded
100%
Completed Value
$2,500,000
Loan-to-Completed Value
65.36%
Location Type
Suburban
Property Condition
Brand New Build
Lot Square Footage
24,393
Lot Acreage
0.56
Borrower's Plan
Build and Sell
Exit Strategy
Sale
Borrower Credit Rating
Fair
Interest Rate
14.5%
Broker Commission
$32,680
Deal Summary
Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to finance a $1,634,000 bridge loan with construction holdback for a luxury single-family project in Kihei, Island of Maui, Hawaii. We financed 100% of the $1,092,000 construction budget to help the Borrower complete the build. With a loan-to-after-repair value of 65.36% based on a projected after-repair value of $2,500,000, the loan was strategically structured to meet mid-construction funding needs. We worked closely with the Borrower to navigate a complex construction budget and timeline. The Borrower is now positioned to complete the home, sell the property, and exit the loan successfully within 12 months. The subject property is approximately 24,393 square feet set in a 0.56-acre lot. The Borrower had fair credit. They plan to sell the property as an exit strategy. The interest rate was 14.5% with a 12-month guaranteed interest provision. The broker earned a $32,680 commission. This construction loan was funded in June 2025.
Funded By
Myers Capital
Private Lending for Hawaii Investment Property, Including Land
Dealmakers
Reed Myers
Principal
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.