An 11.78-acre oceanfront parcel in Waipouli will be going to auction next month. The property has been planned to be a 198-room resort apartment complex, called Coconut Plantation Resort, since 2007. The property is owned by a large hedge fund in California that simply decided it is time to get it off of their books. It will be sold by means of an absolute auction, meaning that there will be no asking price and the property will be sold to the highest bidder. The property has been the subject of much dispute and speculation over the past few years, as locals have expressed concern about the proposed development’s impact on the environment and coastline.
The property will be available for touring during the week of March 9 – 16, with the live auction set for Thursday, March 19 at the Courtyard Kauai in Waipouli.
For more information, read the original news article in The Garden Island newspaper, here: For Sale: Coconut Plantation Resort