Vacant Land Hard Money Loan in Hauula, Hawaii

Myers Capital Hawaii, a residential and commercial mortgage banking company and direct private lender, partnered with its affiliate, Koa Mortgage Fund–a pooled mortgage debt fund—to fund a $190,000 equity cash-out loan secured by two adjacent vacant land parcels in Hauula on the island of Oahu, HI. The loan was structured with a conservative 26.27% loan-to-value (LTV) based on an appraised property value of $723,000. The Borrower owned two adjacent lots—one with road access and the other landlocked with no legal or physical entry point, which limited development potential and reduced overall value. The short-term loan allowed the Borrower to pay off a seller note and use cash-out proceeds to secure an easement and build an access road, improving marketability and creating multiple exit options, including a sale or construction refinancing. The lot size is approximately 13,608 square feet. The Borrower had good credit. They plan to refinance as an exit strategy. The interest rate was 15%. The loan term was set at 12 months. This hard money land loan was funded in July 2025.