Coconut Willy’s Waikiki is reopening in mid-December at the former Hard Rock Cafe site across from the Hawai‘i Convention Center.

The longtime restaurant establishment that closed in February at the Waikiki Beach Walk also will be expanding into the franchise business with a new food truck concept, Stewy’s Incredible Stews.

The restaurant, bar and nightclub on nearly one acre at 1837 Kapiolani Blvd. will employ as many as 50 people and rent food trucks to independent contractors as part of a franchise package.

"We’ve got kind of a three- or four-pronged approach of how we’re going to operate in this area," said Coconut Willy’s founder David Kenney. "We need to maximize the space because it’s a big (location)."

The food trucks that eventually will be offered as a franchise will offer stews, chili and rice, curries and related items prepared by the restaurant.

"Stew and chili is very popular in Hawaii, and nobody’s really doing it," Kenney said, adding that he will invest about $400,000 to renovate and set up another production kitchen to make stew and chili fresh each day. He also will invest roughly $20,000 apiece for several food trucks and purchase more as the business grows.

In addition, Kenney hopes to bring new life into the restaurant and bar.

Besides live music, the restaurant will have different themed events such as oldies and country nights, as well as farmers markets and Sunday barbecue cookouts to take advantage of the outdoor garden.

"It’s a big space, so I think we can do a lot of fun stuff there and get the community involved as well so we’re not just being another bar and restaurant," he said. Fundraising for community-based organizations and food truck events in the large 50-stall parking lot are also options, he added.

Coconut Willy’s Bar & Grill opened at the International Marketplace in 1991 and operated there for 18 years before closing in 2009 and relocating to Waikiki Beach Walk on Lewers Street. Kenney was in lease negotiations for the past six months with Hard Rock, whose master lease expires in 2015.

Hard Rock moved to a new Waikiki complex in 2010 after nearly 20 years at the site on the corner of Kapiolani Boulevard and Kalakaua Avenue.

"He is an excellent operator, and I look forward to seeing him bring the property back to life," said property broker Cory Beall. "With such a prominent location at the entrance to Waikiki, I hate to see it vacant and run-down."

Kenney’s long-term goal is to take the Stewy’s concept into food courts and find a long-term space for Coconut Willy’s if it isn’t able to stay at the Hard Rock location.

"We’d like to take it a step further and become like a Panda Express," he said. "That’s kind of how we see it evolving over time. This is a concept that I’ve been working on for a long time. When the opportunity came to take the Hard Rock site, I said the time has come for me to look at the business. It’s been on the back burner for several years now; I just didn’t have space to do it."