Equity Cash-Out Loan for Residential Zoned Land in Kailua-Kona, 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 $1,430,000 equity cash-out loan secured by a free-and-clear land parcel located in Kailua-Kona, Hawaii. Koa Mortgage Fund, a pooled private mortgage debt fund, funded the loan at 65% loan-to-value, based on a $2,200,000 appraised land value. Loan proceeds enabled the Borrower to unlock equity from the land to complete construction on an adjacent, newly built investment property. During due diligence, a previously recorded lien—erroneously placed on the subject parcel by a prior lender—was discovered and removed, allowing Myers Capital Hawaii to record a clean first-lien position. The Borrower, a West Coast–based design/build engineer and majority owner of a family-operated construction firm who had excellent credit, plans to refinance the newly completed home as the exit strategy. The subject property is approximately 15,435 square feet set in a 0.35-acre lot. The interest rate was fixed at 13.75%. The loan term was set at 12 months. This bridge loan was funded in December 2025.