HONOLULU (AP) — The state is pulling its contract with the developer of the planned Waikiki Landing for nonpayment of more than $500,000 and a $1 million performance bond. ADVERTISING HONOLULU (AP) — The state is pulling its contract with
HONOLULU (AP) — The state is pulling its contract with the developer of the planned Waikiki Landing for nonpayment of more than $500,000 and a $1 million performance bond.
The Department of Land and Natural Resources’ Division of Boating and Ocean Recreation confirmed Tuesday its lease with Honey Bee USA Inc. will be terminated Sunday (Nov. 15). The division will begin the process of securing a new development proposal for the Waikiki property at the Ala Wai Small Boat Harbor.
“DOBOR believes it has been extremely patient and accommodating to Honey Bee, but the prudent course of action is to terminate the lease,” said DOBOR administrator Ed Underwood. “We can then begin the process of seeking a new development proposal for this prime Waikiki property.”
The Board of Land and Natural Resources voted Sept. 25 to terminate the lease in November if the developer failed to come up with the necessary funds. That meeting marked the third time the division’s staff came before the board to recommend severing ties with the developer.
The state issued Honey Bee a 65-year lease in 2014. The project, which included wedding chapels, restaurants, a boat repair facility and fuel dock, was expected to be complete this December.
Honey Bee couldn’t be reached for comment. Consultant Dale Rak said in October the company’s latest funder, Utah-based ICON Commercial Lending Inc., struggled getting the funds because the Waikiki Landing project was to be funded along with several other projects at the time.
DNLR spokesman Dan Dennison said the state will begin looking at other potential developers for the site.
“They will try to find someone else to come in and develop the property. The whole process starts from scratch,” Dennison said. “They will have to develop a new request for proposals, which will take some time.”
