HILO, Hawaii (AP) State officials have denied a proposal to extend the due date on a $250,000 lease payment for a Big Island resort struggling with bankruptcy as it tries to find a buyer.
Fridays decision by the Board of Land and Natural Resources means the current extension for the Naniloa Volcanoes Resort ends today. DLNR Land Division Administrator Russell Tsuji said the hotel was told by its trustee and bank that a sale could happen soon, but hes concerned a sale may not come before another payment is due.
Court-appointed trustee David Farmer had sought an extension through the end of the year. He said the hotel doesnt have enough money to make the payment and could shut down if it doesnt get a break.