Bridge Loan for Dual Duplexes Purchase in Honolulu, Hawaii

Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to finance a $740,000 bridge loan for the acquisition of two duplexes (4 units) in Honolulu, HI. We funded 62.97% of the $1,175,000 purchase price, while the Borrower contributed $435,000 at closing, sourced from the sale of a relinquished property as part of a 1031 exchange. The Borrower, an active-duty Navy service member and experienced real estate investor, was under contract and needed to close quickly to satisfy 1031 exchange deadlines after being denied DSCR financing due to minor property condition issues. Our team delivered a fast and reliable financing solution, closing in just 15 days and keeping the transaction on track. The subject property was in good condition. It is approximately 2,432 square feet on a 7,500-square-foot lot. The Borrower had excellent credit. They plan to lease up the property upon completion of a rehab and ultimately sell the asset as the primary exit strategy. The interest rate was 13%. The loan term was set at 6 months. This bridge loan was funded in April 2026.