HILO — After several years on the drawing board, a planned shopping center in Pahoa is expected to begin construction next month.
Development of Puna Kai, the 9.93-acre property at the intersection of Kahakai Boulevard and Pahoa Village Road, has been in the works since 2012.
Ownership and management of the center is being handled by Meridian Pacific, Ltd., an investment and development company with offices in Honolulu and San Francisco.
Puna Kai is Meridian Pacific’s first ownership project on the Big Island, owner and president Gary Pinkston said Tuesday.
The group previously handled financing for projects in Kona. On Oahu, Meridian Pacific owns and manages the Waipahu Town Center and also has owned Hawaii Kai Shopping Center, Koko Marina and Windward Mall.
“We’re always looking for outstanding real estate,” Pinkston said. “We like to operate in small communities, and Pahoa was excellent.”
Meridian Pacific is acquiring the property from current landowner B.T. Kuwahara.
Included in that contract is a lease to Sullivan Family of Companies, which will open a 35,000 square foot Malama Market at the center. This will replace the current 12,000-square-foot Pahoa store, and will be the largest Malama Market in the state, according to a spokeswoman for Sullivan Family.
When complete, the entire Puna Kai center will feature 103,600 square feet of leasable space.
The most recent conceptual plan also shows McDonalds and The Coffee Bean and Tea Leaf as future tenants. A bank branch also is expected to be part of the final group of lessees.
Email Ivy Ashe at iashe@hawaiitribune-herald.com.