The creditor and debtors of the bankrupt Hokulia luxury development on the Big Island have come up with a reorganization plan.
West Hawaii Today reported Friday the credit and debtors say the plan will revive the long-stalled development and ensure the county gets $20 million to complete the Mamalahoa bypass road.
A hearing on the plan is scheduled for Sept. 16 at U.S. Bankruptcy Court.
Phoenix-based developer Lyle Anderson had planned to develop Hokulia in three phases on approximately 1,400 acres in South Kona.
The project was to include about 730 residential lots, a 27-hole golf course and clubhouse, a members' lodge and spa and other facilities. It was also to include a public bypass road.
But the project ran into multiple major setbacks, leading to bankruptcy.