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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/10/2025
Property Type
Property City
Honolulu
Property State
HI
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$550,000
Loan-to-Purchase Price
73.81%
Borrower's Contribution to Purchase
26.19%
Source of Borrower's Contribution
Cash
Property Neighborhood
Honolulu
Location Type
Urban
Property Condition
Excellent
Number of Units
1
Building Square Footage
967
Borrower's Plan
Build and Hold
Exit Strategy
Refinance
Borrower Credit Rating
Good
Interest Rate
13.75%
Deal Summary
Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to fund a $406,000 purchase bridge loan for a legal short-term rental unit in Honolulu, Hawaii.
Koa Mortgage Fund, a pooled mortgage debt fund, funded the loan at a 73.81% loan-to-value, based on a $550,000 appraised property value.
The borrowers are experienced real estate investors and repeat clients who acquired the legal short-term rental unit. It’s the second condotel unit they have purchased this year, adding to their growing portfolio. In Hawaii, legally zoned short-term rentals are in high demand, offering investors immediate rental income opportunities. They plan to refinance this bridge loan with a DSCR loan.
This 12-month bridge loan was funded in October 2025 at a 13.75% interest rate.
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.