The redevelopment of Kauai's long-shuttered Coco Palms Resort has commenced.
The historic Wailua property ceased operations in 1992 after sustaining significant damage from Hurricane Iniki. It has remained closed since.
Developer Reef Capital Partners, which took ownership of the property in 2022, said it plans to invest more than $400 million in the demolition, construction and restoration of the site, with a modernized iteration of the resort expected to open in 2026.
The endeavor began with the removal of dilapidated hotel structures earlier this month.
"We are deeply committed to being responsible stewards of this historic landmark," said Reef Capital Partners CFO Jon Day in a statement. "As new owners, we hope that fulfilling the promise of removing these structures after decades of past failure is a clear demonstration of our commitment."
Reef Capital Partners also said that it would be engaging in "archeological and cultural monitoring" throughout the project, and that it has tapped a cultural advisory committee made up local Native Hawaiians to "help guide restoration of the site."
The restored resort will have fewer guestrooms -- from the original property's 400 rooms to 350 rooms -- as well as a cultural center, spa and taro farm. The project will also involve a revival of several dining venues from the original Coco Palms, including the Lotus, Flame and Seashell restaurants.
Reef Capital's redevelopment efforts follow decades of failed attempts to revive the Coco Palms, including a 2015 plan to reconstruct the property and reopen it as a Hyatt resort.
First opened in 1953, the Coco Palms is known as the setting of the 1961 film "Blue Hawaii" starring Elvis Presley.