Overview

Myself, as well as many other mainlanders are moving to the Island of Kauai within the next 2 months to begin restoring the Iconic Coco Palms Resort. This is a $175 million dollar project by Hyatt, which is estimated to take 18 months to complete. All financing, and construction crews are secured, and construction is set to begin this Spring. When complete, the resort is estimated to create approximately 1000+ jobs within the hotel/entertainment industry. The developers are also building some housing developments for the Hyatt employees.

Long term housing on Kauai is very scarce, unless you buy. Even then, it is not reasonably affordable for most. There is a major housing shortage. Most condos/apts. Are either used as vacation rentals, or are already rented, and some have waiting lists for 6 months or more. The landlord/ tenant laws which exist in our state, also are not enforced, do not apply, and rule in favor of the actual title holder, as possessory.

The County of Kauai Planning and Zoning Commission intends to double the populous of the island, within the next 5 years, and allow for more affordable housing developments, as well as high end resorts which cater to the tourism industry.

I have spent many hours extensively researching all subject matter contained herein, including the enclosed exhibits, and my knowledge, and search for the solution, and this has led me to the following plan;

Goals

The acquisition of 2-20 Condo Rental Properties on Kauai.
To Reside in one condo, while managing purchasing aspects/rentals on additional property purchases.
To provide immediate available housing for qualified members of the CP construction staff.
To create Vacation Rentals for long term income, for each partner involved.
Minimum Total Financial Investment- (2 condos) $200,000.
Minimum Yearly Income of $ 50, 000- (2 condos), for each partner.

Specifications

I, Brenda Buck, lack the capital needed to accomplish this goal within the immediate need timeframe. What I intend to contribute are exorbitant amounts of sweat equity in said properties. As I will be permanently living on Kauai, I offer to do the following;

Search for, find and personally view all available properties.
Manage all aspects of needed paperwork , and work with the realtor.
Advertise properties on my website, and in different vacation rental organizations.
Manage all aspects of the rental process for prospective tenants.
Manage all aspects of the vacation rentals, i.e. booking calendars, collections of monies, deposits, HOA fees, etc.
Decorate, screen contractors for repairs, and provide personal housekeeping of the units myself.
Manage the disbursement of profit sharing to investors. Percentages, management salary, and/or interest rates are negotiable with each individual unit, or investor.

Research and Development

There is currently One condo available in Princeville, on the North Shore, for $119,000., which is perfect for management use. Please see exhibit A.

There are currently 17 vacation rental condos on the market in Poipu, which is the resort area on the South shore. Many of which are in the same complex. Please see Exhibit B.

There are 6-8 condos available in Lihue, for seniors 55 and older.

There are also 5-6 Aqua Kauai Beach Resort rooms, which are sold, and rented, as vacation rentals. This is where the MK Live event is held each June, and is sold out every year. Please see Exhibit C.

Existing Vacation Rentals

Included in Exhibit D, there are current Vacation rental prices, and availabilities. Most stay booked 6 months in advance, at all times throughout the year.

Please Consider all of the information enclosed herein, and let’s schedule a meeting.

Mahalo!

Brenda Buck

EXhibit A