Berkadia Secures $27.6M in Financing for Development of Luxury Single-family Homes at Mauna Kea Resort in Hawaii
Los Angeles, California – May 6, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the financing of Hapuna Estates, which consists of seven luxury single-family home lots on the Big Island of Hawaii within the world-renowned Mauna Kea Resort. Senior Managing Director Louis Friedel, Managing Director Keith Rosso, and Director Jeremy Kanter of Berkadia Los Angeles secured a $27.6 million construction loan through a private Los Angeles-based investment manager on behalf of Newport Beach-based West Point Investment Corporation. The deal closed on April 30.
The joint venture plans to develop luxury-for-sale-single-family homes within the prestigious gated community. The seven custom home lots range in size from 0.39 acres to 0.75 acres, all with panoramic ocean and shoreline views spanning more than 20 miles. Construction is slated to begin in early 2027, with the first homes to be delivered in 2028.
“Financing was highly competitive for this project given the limited number of custom home lots remaining at the Mauna Kea Resort and the strong velocity of sales we’ve seen over the past 12 months,” said Friedel. “Hapuna Estates represents one of the last opportunities to develop luxury single-family product within one of Hawaii’s most established and tightly held resort communities. The combination of irreplaceable views, proven sponsorship, and continued demand from both domestic and international buyers seeking turnkey luxury in the Hawaiian Islands generated significant lender interest and ultimately allowed us to secure attractive financing on behalf of the client.”
Originally developed by Laurance Rockefeller in 1964, The Mauna Kea Resort is Hawaii’s most beloved resort with the two most popular beaches on the island, two iconic hotels (Mauna Kea Hotel and The Westin Hapuna Beach Resort), two of Hawaii’s highest rated golf courses, and nine destination restaurants. When fully built out, The Mauna Kea Resort is scheduled to provide a total of approximately 502 residences, in 14 separate subdivisions laced along the two golf courses and two beaches. Within the Hapuna Estates, a total of 47 custom home lots have been created, with the balance of the residences as condominiums.