The owners of the Makaha Resort & Spa announced late this afternoon the indefinite closure of the property Oct. 31, saying they have not secured financing for a planned renovation.

"While refinancing for the Makaha Resort is a priority to the company, finalization of the required capital has not yet been approved,"  Pat Fitzsimonds, CEO of Canada-based owner Northwynd Properties Ltd., said in a news release issued following a 3 p.m. meeting with 95 employees. "At this time, there is no definitive date for reopening, but the company plans to reopen the property as soon as financing and renovations are completed."

Northwynd announced in April that it had sold its adjacent golf course to Hawaiian Golf Properties LLC to pay for improvements to the 173-room hotel. The 18-hole golf course closed for renovations on May 14.

The company said it is now closing the resort temporarily for renovation. Once financing is in place, Northwynd plans to convert the 172-room hotel into 102 luxury timeshare apartments "aligned with the vision of Hawaii as it used to be."

Improvements will include upgrading the restaurant, bar, spa, meeting space and pool. Owners have already secured renovation permits. 

"The staff members at Makaha Resort are a critical component to the operation and guest satisfaction, and it is our hope to be able to return to an operational status as soon as possible," said Kelly Cuff, general manager.