WAIKIKI (HawaiiNewsNow) - The stalled redevelopment of the Ala Wai Small Boat Harbor may finally be moving closer to completion. The $34-million Waikiki Landing project has suffered several setbacks. Sources told Hawaii News Now that construction is now set to start in January if a new financing plan is approved by the state.
Paradise Watersports moved to the new docks at the harbor in April. The company will be renting retail space in Waikiki Landing once Japan-based developer Honey Bee USA completes the project.
"May 1, we were supposed to have a temporary ticket booth here, and that has come and gone. Honey Bee lost part of their financing. I understand they have now recently placed financing in place and hopefully, they'll get started and we can have a temporary ticket booth soon," said Tommy Berg, president of Paradise Watersports.
Waikiki Landing will include restaurants, retail space, two wedding chapels, a fuel dock and a boat repair facility.
"It'll support the harbor costs which the state legislature cannot support. It'll support the boating community so they can take their boats here, have them repaired," said Bob Finley, chair of the Waikiki Neighborhood Board.
The project, which was originally named Kalia Marketplace, was supposed to be finished in 2013. Honey Bee, however, ran into delays lining up permits and funding. An attorney for the company said the new financing will be a combination of investment money and a construction loan.
"I'm disappointed it's taking so long. I hope that they get their stuff together cause I'd hate to see them start over and the state lose the income that they're supposed to be making on this," said Finley.
"I think it's going to be wildly successful. I hear it's basically fully-leased and it's going to be a real attraction with the top floor is going to be a high-end steak house with a retractable roof. I think that's going to be a real attention-getter," said Berg.
The financing still needs to be approved by the Board of Land and Natural Resources at its meeting next month.