Pacific Business News reports that construction of the new Hyatt-branded hotel going on the site of the historic Coco Palms Resort in Kapaa is schedule to commence in January of 2017. The $3.5 million demolition project is currently in its final stages. The hotel is planned to become a 350-room resort at part of a new upscale luxury collection called the The Unbound Collection, which will include other hotels in Texas, Paris and Uruguay, as well.
The former Coco Palms Resort has now been closed for 24 years (since Hurricane Iniki). The current owner purchased the property for $23 million years ago, and in June started the $3.5M demolition project. The project is scheduled to be completed in the second quarter of 2018.