The owner of the Makaha Resort & Spa announced late Thursday it has not secured financing for a planned renovation and will lay off up to 95 employees on Oct. 31 when the property is shut down for an indefinite period.

"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 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.

If financing is secured, Northwynd plans to convert the hotel into 102 luxury time-share apartments.

In a letter Thursday to the state Department of Labor and Industrial Relations, Fitzsimonds said the company has decided to "temporarily halt business operations due to financial reasons," and "up to 95 employees will likely be terminated." DLIR said it has yet to determine whether the resort violated federal law requiring employers to give employees 60 days’ notice of plant closings or mass layoffs.

Employees said they didn’t know whether they would receive severance pay.

"It’s going to be hard, but we’re just trying to keep our heads up and hope for the best," said Waianae resident Kaui Manners, a housekeeper at the resort.

Kelly Cuff, general manager, in a news release did not promise to rehire current employees after renovations. "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," Cuff said in the release. Cuff was on vacation out of state Thursday and unavailable for further comment.

Planned improvements include upgrading the restaurant, bar, spa, meeting space and pool. The owner already has secured renovation permits.

"It’s a nice place — perhaps you can see it’s a bit worn out — but there’s very good service and nice people," said hotel guest Preben Friis, a Denmark resident visiting Hawaii with his wife, Lini. "It’s a bit far from Honolulu. I can imagine investors tried to put some money in this part of the island, but it hasn’t been a success."

Doug and Pat Bowers arrived at the resort on Monday and were scheduled to stay through Nov. 7. They learned of the hotel’s imminent closure when reading the Star-Advertiser. The Canadian couple have stayed at the resort every other year since 2006 and are now left without accommodations after October.

"Waikiki is an exotic zoo for the kids under 25," Pat Bowers said. "(Makaha Resort) is a nice, quiet getaway. We’re devastated — disappointed, mostly."

Hotel amenities like the spa and sundry shop were closed Thursday, and there was no one at the pool to hand out towels. Only a handful of tourists were swimming and sunbathing at the otherwise desolate property.

"I feel sorry for the staff," Doug Bowers said. "It’s not just us suffering; it’s them, too."

The restaurant also ran out of supplies for salad by the time Washington sisters Deborah Deal and Heather Bopp arrived on Sunday. Instead, they ate chicken wings.

"We couldn’t figure out what was going on," Bopp said.

"We thought that there was a change of ownership and so they didn’t have all their ducks in a row," Deal said.

Northwynd took ownership of Makaha Resort in July 2010 when it acquired the assets of another Canadian firm, Fairmont Resort Properties Ltd., through a court-supervised debt restructuring.

The 300-acre resort in Makaha Valley, developed by financier Chinn Ho in 1969, has had a string of owners in recent years and traditionally has been challenged by its remote location off the beach, as well as a relatively small inventory of rooms.

But to frequent visitors like the Bowerses, Makaha Resort is a hidden gem of tranquility deep in the majestic Makaha Valley.

"We like being isolated," Doug Bowers said. "This is a mature resort. To me it’s real Hawaii instead of overly commercialized."