Coco Palms Director of Restoration, Development, and Construction

Position: Coco Palms Director of Restoration, Development, and Construction

Salary: $200,000+ DOE

Company: Reef Private Equity

Location: Kauai, Hawaii

About the Company:

Reef Capital Partners is a successful commercial real estate investment firm specializing in both private credit and private equity investments.

Reef Private Equity, a subsidiary of Reef Capital Partners, specializes in projects that are environmentally sensitive and is focused on building or restoring places in an environmentally sensitive way. We regularly set aside half or more of the land we work with for permanent conservation and public access, and have received many awards for environmental stewardship. In addition, Reef is committed to being deeply involved in the local communities it works in, including supporting local charities, providing affordable housing for local communities, and building projects that become true community gathering places.

Reef Private Equity is currently developing a wide variety of projects, including a $2 billion+ world-class resort in Ivins Utah, 150 SF lots and 300+ townhomes at Deer Valley Ski Resort near Park City Utah, a private club and Tiger Woods designed golf course outside Park City, Utah, a 900 lot lake and golf community in Virginia, 300 apartments in Idaho, 48 townhomes in Eden, Utah, etc.

Founded in 2005, Reef has completed more than 500 transactions with an aggregative value of over $2 billion dollars. Reef's commitment to sustainability and community building has been an asset, not a liability, in Reef's financial performance. Reef has an exceptional track record of performance, with an IRR on realized investments over the past decade of ~20%.

Applicants without a demonstrated commitment to environmental sustainability, cultural sensitivity, and community building will not be a fit for our culture and will not be considered.

The Project:

Reef Private Equity is currently restoring the historic Coco Palms Resort in Wailua on the island of Kauai.

The Coco Palms has been an iconic destination for many decades, and is listed on the National Register and Hawaii Register of Historic Places.

For almost a thousand years it was the home of the Ali'i (Hawaiian Royalty), and thus it is the site of some of the most important legends and historical events for Native Hawaiians. The site contains artifacts from that era including a lagoon with origins hundreds of years ago in two Royal Hawaiian fishponds.

From 1953 until its destruction by Hurricane Iniki in 1992, Coco Palms Resort was a world renowned hotel noted for its Hollywood connections, Hawaiian-themed weddings, torch lighting ceremonies, and the invention of many of the things we associate with Hawaiian hotels.

Reef Capital Partners is restoring the Coco Palms, rebuilding a resort with 350 guest rooms, 3 restaurants, 22K sf of meeting space, 12K sf of retail space, 10K sf spa, 3 swimming pools, 2 other F&B outlets, a 300 seat cultural center, and a 15 acre Coconut Grove.

All permits and approvals needed to complete the project have been obtained, and demolition and initial light construction have begun; demolition should be complete in summer 2024, and vertical construction should be complete in 2026.

Job Responsibilities:

Our vision for the restoration includes honoring the sacred pre-contact history of this land (which is the most important part of the history), honoring the legacy of the Coco Palms hotel, providing guests with a modern and authentic Hawaiian cultural experience, and once again making the Coco Palms a hub for the entire Kauai community.

The Restoration Director is responsible for accomplishing this vision, including overseeing the day-to-day restoration, demolition, and construction operations as well as design and programming of the hotel. This involves working closely with the brand, the property manager, project managers, interior designers, the architects, cultural advisers, owner's reps, accounting, legal, and risk management teams, directing consultants, and others.

Perhaps most importantly the Restoration Director is responsible for building community relationships and engaging the community in the restoration work.

The Director is also responsible for managing project budgets and schedules, quality, and compliance with all laws and regulations (including strict compliance with all archaeological, cultural, and F&W requirements) and emphasizing sustainability.

Essential Functions:

• Primary Director responsible for all aspects of project:
  • Final accountability for compliance with all archaeological, cultural, and regulatory rules and regulations
  • Final accountability for performance to budget, schedule, milestones, and projections
  • Reviews, approves, and tracks performance to budget, schedule, milestones, and projections
  • Along with senior management, final decision maker on design, construction, and sales/leasing
  • Final review and approval of third-party agreements (including management/operating agreements)
• Experience in deal structuring and raising capital
• Ability to build and maintain strong external relationships, especially community relationships and governmental relationships
• Pulls in other resources from Reef leadership team to evaluate and update strategy or problem solve as needed
• Defines the project team and resources needed (internal and external)
  • Sets the organizational chart for the project team
  • Defines those project elements that are entrusted with PM(s)
  • Identify and most likely directly leads aspects of the project that present highest degrees of risk and reward
• Organizes the team and pushes for results

Qualifications:

• Bachelor of Science in Construction Management, Urban Planning, Architecture, Engineering, Finance, or a related field is preferred, but we value real world experience more than academic degrees
• Master of Real Estate Development, a related field, or equivalent experience is preferred but we value real world experience more than academic degrees
• Proficient in Microsoft Excel and financial modeling
• Experience in real estate development and construction management

The ideal candidate has 10+ years experience in real estate development.

Company Benefits:

• 401K plan with company match
• Generous company health plan with $1000 HSA match
• Flexible paid time-off
• Cell phone allowance
• Ability to invest in projects with preferred terms
• Most importantly, an opportunity to work on projects that are sustainable, strengthen communities, are environmentally responsible, and leave a legacy you can be proud of