|
Group promotes A group planning interisland passenger and car ferries, and even an underwater hotel on Maui, made a pitch yesterday to the Aloha Tower Development Corp., seeking support for its first phase, a takeover of Piers 5 and 6, between the Aloha Tower Marketplace and the Coast Guard station.
Aloha Tower
ferry project
The plan by Rainbow Pier
Development would add hotel,
office and parking at Piers 5 and 6By Russ Lynch
rlynch@starbulletin.comIts "Rainbow Pier" project would include not only ferry docks, but office and hotel buildings rising as high as 300 feet. Rainbow Pier Development President Peter Maher told the harbor development oversight board.
There would also be luxury condominiums and -- important for Aloha Tower -- 1,500 new parking stalls in a seven-story parking structure.
The real estate development and ferry operations would depend on each other, Maher said. He said a mixture of high-speed hydrofoils, like those used for a short and unsuccessful time by SeaFlight more than 20 years ago, and hovercraft capable of carrying cars interisland, could be backed by smaller craft running commuter operations from West Oahu to Honolulu.
The hotel would have 242 rooms, he said.
Maher represents a company headed by Nevada resident Matt Dillon, who has been looking at ferry possibilities in Hawaii for about three years. Maher said it is largely a Hawaii project, however, using local consultants such as architectural firm Wimberly Allison Tong & Goo.
The provision of parking spaces would help the Aloha Tower Marketplace, which has been short of parking, he said.
Brian Minaai, state transportation director and an Aloha Tower Development Corp. board member, said the state is already constructing a ferry terminal at Pier 19. At least one potential operator has expressed interest in running interisland ferries, Minaai said.
Maher said his group is not worried about competition and considers Pier 19 an unattractive industrial area that would not be nice for Hawaii families waiting for rides. While the Rainbow Pier group would like exclusive interisland rights, which is something the state Public Utilities Commission would have to decide, if it gets the real estate side of its plan approved it can compete with anyone, Maher said.
"If we get this, we'll eat their lunch," he said of possible ferry competitors.
He said his group has financing from a Maryland firm, International Commerce Corp., and can also use $45 million in special purpose revenue bonds authorized last year by Gov. Ben Cayetano.
Maher said the "jet foil" boats that would be the centerpiece of the ferry business are similar to those used by SeaFlight but technological advances make them far superior to those early versions. He said interisland fares would be as low as $39 and, unlike airlines, ocean craft can be profitable with only 35 percent of seats filled.
The first phase would be about $200 million for the ferry terminals, hotels and condominiums in Honolulu Harbor, Maher said. Next would come $200 million or so for terminal development on Maui and then a Big Island phase worth another $100 million.