Zoning
The proposed project is intended to utilize the existing zoning regulations.
If a variance is to be pursued, we will request the County’s assistance to fast-track an approval.
Financing Plan
A straight purchase for the selected parcel will be offered with a 10% down payment upon acceptance by the seller. The remaining balance due for land acquisition will be paid according to the agreed terms and conditions and will come from the following possible sources as would be available.
1.) Deferral of the purchase price by the landowner (seller financing) until the end of construction or over the development period. In return, an increase in the purchase price may be required.
- 2.) Epic is financially supported in its endeavor to purchase the entire property and develop such a project, by several interested investment groups.
- 3.) Depending on the terms and conditions of the purchase, a typical land loan or construction financing from a bank may be acquired.
- Fiscal Management
- The financial management of the project will be provided by a leading qualified and recognized construction accounting firm as needed.
Pro-Forma Financials
Project Financial Summary:
Net Project Revenues $44,175,000
Total Land Purchase Cost $6,000,000
Total Hard Costs/Construction $14,900,000
Total Impact Fees $350,000
Total Soft Costs $4,940,000
Total Start-Up/Soft Costs $5,290,000
Total Project Costs $27,200,000
Investment Summary
Amount Invested $10,000,000
Amount Returned $17,037,750
Investor Gain $9,437,750
ROI 94.4%
Annualized ROI 23.5%
Annual Internal Rate of Return 19.6%
Investment Length 36 Months
Individual Investment Share ROI Summary
Investment Share (Minimum) $200,000
Amount Returned $340,755
Investor Gain $140,755
Additional Home Usage (Value Return) $31,500*
Total Investment Gain $172,255
ROI 87.6%**
Annual Internal Rate of Return 23.0%**
Investment Length: 36 Months
*Usage of Home 1 Week Each Year for 3 Years
** Increased ROI Value from Investor Home Usage
PRO-FORMA FINANCIALS FOR REFERENCE ONLY, TO DEMONSTRATE COST CENTERS. SPECIFIC PROJECT FISCAL DATA IS STILL TO BE DETERMINED.
The Current Market
Hawaiʻi Island saw an impressive $633.4 million in total transaction volume in the luxury segment between January and June of 2022, with 108 total sales above the $3 million mark and 11 of those being above the $10 million mark. The majority of these transactions occurred in private club communities on Hualalai, Kohanaiki, and Kukio—including a land listing at Kukio’s Kaʻupulehu Beach Club that set a price record for the island and made headlines in The Wall Street Journal. Also garnering media attention was golf legend Vijay Singh’s self-sufficient oceanfront estate on the Hamakua Coast, which is listed for $23 million.
