Deal Details
Private Loan Type
Refinance
Approx. Funding Date
06/02/2025
Property Type
Property City
Waikoloa
Property State
HI
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$315,000
Loan-to-Value
31.74%
Property Neighborhood
Waikoloa
Location Type
Rural
Property Condition
Good
Occupancy at Closing
Vacant
Number of Units
1
Lot Square Footage
10,018
Lot Acreage
0.23
Borrower's Plan
Development
Exit Strategy
Pay Down
Borrower Credit Rating
Excellent
Interest Rate
14.5%
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 $100,000 first-lien bridge refinance for vacant land in Waikoloa on Hawaii Island. The loan featured a conservative 31.74% loan-to-value ratio, based on a $315,000 estimated property value.
The borrower—an experienced home builder and real estate investor with strong credit—used the short-term loan to pay off a maturing land note. This strategic refinance removed the immediate balloon payment pressure and provided time to advance the property’s planning and development. The borrower plans to repay the loan using personal funds.
Funded in June 2025, the 12-month loan carries a 14.5% interest rate with a 12-month guaranteed interest provision.
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.