I received a copy of the Hokuli’a/AMIC/Hawaii County settlement agreement recently. This agreement isn’t most optimum deal for the county. However, there is no guarantee the county would’ve awarded anything, if this case continued to trial. American Motorist has been in runoff mode since 2004, so the county is lucky they’re getting 12.5 million to complete the rest of the Mamalahoa (Hokuli’a) bypass.
Oceanside will have up to two years to complete the rest of this roadway. The county is slated to receive land, if they fail to meet this deadline. The settlement agreement outlines the which lands will be conveyed to meet their 20 million dollar obligation. I was afraid they would convey just their Keopuka lands, but fortunately this isn’t case.
The 2006 settlement agreement, which allowed Oceanside to restart the Hokuli’a project, is the elephant in the room. Lloyd’s Banking Group wants to extricate itself from this black hole project. They’ve failed to sell the entire project thus far, so its likely Lloyd’s will sell it piecemeal.
Oceanside has failed miserably to comply with that 2006 agreement. I believe it won’t get better, if Hokuli’a is carved out and sold to multiple developers.





