Newport Beach developer West Point Investment Corporation has locked in a $27.6 million construction loan to put up seven luxury single-family homes inside Hapuna Estates at the Mauna Kea Resort on Hawaiʻi’s Kohala Coast. Construction is scheduled to kick off in early 2027, with the first homes expected to be delivered in 2028, a sizable new chapter for one of the island’s most tightly held resort neighborhoods.
According to a May 6 press release, Berkadia said its Los Angeles team arranged the $27.6 million construction financing, which closed April 30. The firm noted that the seven custom home lots run from roughly 0.39 to 0.75 acres, feature long ocean and coastline views, and that the loan was placed through a private Los Angeles-based investment manager on behalf of West Point.
Industry reporting has identified Arixa Capital as the lender on the construction facility and pointed out that Berkadia handled the transaction placement. Commercial Observer reported that Arixa Capital provided the debt and that lender and developer representatives did not immediately respond to requests for comment.
What West Point Plans To Build
West Point has spent several years assembling and entitling parcels inside Hapuna Estates and pitches the enclave as one of the last chances to buy single-family product within the Mauna Kea Resort. Information on the developer’s site describes Hapuna Estates as a gated upland neighborhood with custom lots and amenity plans that plug into the resort’s golf and beach offerings. West Point Investment Corporation says the property is being marketed to buyers looking for turnkey luxury in a resort setting.
Timeline And Market Demand
Berkadia’s announcement reiterates that construction is slated to begin in early 2027, with delivery of the first homes targeted for 2028, and that lender appetite was strong given tight supply and steady buyer interest. “Financing was highly competitive for this project given the limited number of custom home lots remaining at the Mauna Kea Resort,” a Berkadia executive said in the release. Berkadia highlighted the resort’s appeal to both domestic and international buyers as a key driver of the deal.
Resort Momentum And Prices
The loan lands as Mauna Kea itself has been getting a major refresh: recent reporting details a near-$240 million renovation at the resort’s flagship hotel, a project local coverage says is reshaping the property’s tourism and residential pitch on the Kohala Coast. That $240 million glow-up covered the hotel overhaul and its broader impact on the resort market.
Local listings and the developer’s materials show that Hapuna Estates includes dozens of custom lots and pricing that reflects its resort setting. West Point and area broker pages indicate lots and finished homes in the neighborhood trade firmly in the high-end range, with recent on-market examples pushing into the double-digit millions. For a recent example of a finished residence and homesite offering in the community, see a listing from Hapuna Realty.
The original Business Journals report on the financing was published by Pacific Business News, while trade coverage named Arixa Capital as the lender and noted that lender and developer representatives had not immediately returned requests for comment. Observers will be watching permitting and construction milestones as the project moves toward ground-breaking next year.
