Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
09/04/2025
Property Type
Property City
Honolulu
Property State
HI
Loan Term (months)
6
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,250,000
Loan-to-Value
58.8%
Property Neighborhood
Honolulu
Location Type
Suburban
Property Condition
Good
Building Square Footage
1,680
Lot Square Footage
5,100
Lot Acreage
0.11
Borrower's Plan
Rehab and Rent
Exit Strategy
Refinance
Borrower Credit Rating
Excellent
Interest Rate
14%
Deal Summary
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 $735,000 first-lien equity cash-out loan secured by a single-family property in Honolulu, Hawaii. The loan had a 58.8% loan-to-value (LTV) ratio based on an appraised property value of $1,250,000.Our repeat Borrower needed to unlock equity quickly to renovate the property and prepare it for permanent financing. The property’s condition made it ineligible for conventional and DSCR loans, and several insurers initially declined coverage, delaying the project. Leveraging strong industry relationships, Myers Capital Hawaii secured coverage through a highly rated insurance provider, allowing the project to proceed. The Borrower had excellent credit, and the subject property measured approximately 1,680 square feet on a 5,100-square-foot lot. The loan carried a 14% interest rate with a 6-month term. This hard money loan was funded in September 2025.
Funded By
Myers Capital
Private Lending for Hawaii Investment Property, Including Land
Dealmakers
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company based in downtown Honolulu. As a second generation family business owner, Reed is personally involved in over $1.5 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland.