700-unit project
planned for WaikoloaCastle & Cooke Hawaii
is seeking a permit for a
$200 million Big Island
residential development
KAILUA-KONA >> Castle & Cooke Hawaii is seeking a permit to build a 700-unit housing development in Waikoloa.
The proposed $200 million Waikoloa Village Residential Community, the Honolulu developer's first housing project on the Big Island, is planned for 256 acres adjacent to the Waikoloa Village Golf Course.
Project manager Calvin Mann said the company hopes to begin construction late this year with completion expected in seven to eight years.
The project will offer wide variety of homes, including those for first-time buyers, all the way up to custom estates, he said.
The Hawaii County Planning Department will consider Castle & Cooke's planned unit development permit request after July 9.
Alan Arakawa, a company vice president, said Castle & Cooke is looking forward to its entry into the Big Island.
"This is very similar to what we do on Oahu, which is building homes for Hawaii residents in a wide range of buyers," he said. "It's something we've been doing for years."
A similar development was planned for the property in the early 1990s by PMO Joint Venture. Castle & Cooke Hawaii, which was a partner in PMO, bought out the other members in 2001.
"We've had this property for a few years and we believe the time is right," Arakawa said. "We feel there is a market, primarily residents who work in the area."