The West Oahu developers who are seeking $75 million in state tax credits to build a private aquarium at the Ko Olina resort are asking the state to expand the credits to start a job-training facility at the nearby Makaha Resort. Hotel training site
sought for MakahaDevelopers want tax credits
for a tourism teaching resortStar-Bulletin Staff
The Ko Olina developers say they have reached agreement to purchase the 200-room Makaha Resort from Milwaukee-based Towne Realty Inc. The developers say they only want state tax credits to offset the cost of acquiring and developing a job training facility at the resort, and not for the land acquisition costs.
The deal was announced in a Monday letter to the state House Finance Committee. It was not clear if the purchase would include all 330 acres of fee-simple land that encompasses the Makaha Resort Golf Club.
Towne Realty acquired the former Sheraton Makaha Hotel for $6.1 million in 2000, five years after the hotel had been shuttered by its previous owner, a subsidiary of All Nippon Airways. Towne Realty reopened the Makaha Resort in 2001.
"This facility will put the desired training programs in the heart of the Waianae Coast and make it accessible to those who will most benefit from the facility and program," said a statement from Jeffrey Stone, managing partner of Ko Olina Company. "We are looking at the Cornell University hotel training program, where they too have an operating hotel on their campus to train their students."
Buying the Makaha Resort would enable a training program to begin operation sooner than if a facility was built at Ko Olina, the developers said.
The Ko Olina developers have pushed a variety of job-training proposals to get state tax credits to build an aquarium, marine science and mammal research facility.
A bill that would provide $75 million in tax credits was vetoed last year by then-Gov. Ben Cayetano, and reintroduced in this year's legislative session with the support of Gov. Linda Lingle. The legislation is being readied for a conference committee.
The Makaha hotel was developed by Honolulu financier Chinn Ho, who opened the golf club and hotel in 1969.