Infrastructure Finance & Independent Underwriting
We don't source deals. We decide whether they survive.
Single-principal. Independent judgment. No conflicts of interest.
Infrastructure capital allocation sits between three layers. We operate at the seam between financing and capital — where projects either clear the bar or don't.
Build. Deliver on time and spec.
We assess whether the project's cash flows survive construction risk, delay, and cost overrun.
Originate. Structure. Raise capital.
We pressure-test their models, challenge assumptions, and tell you what they won't.
Provide debt. Secure covenants.
We underwrite from the equity holder's side — your downside, not theirs.
Deploy capital. Need judgment.
This is our client. We are their independent underwriting mind.
We are not a broker. Not a placement desk. Not an EPC. We are the person who tells you when not to invest — and why.
Four pillars. One mandate: protect capital through independent technical and financial judgment.
We build or review project finance models from the equity holder's perspective. Not to sell a deal. To test whether it holds.
For developers and sponsors preparing for financial close — we act as a pre-lender reality check.
Ongoing retainer engagement. We sit on your pipeline and screen deals before they reach your investment committee.
For family offices and allocators who have already deployed capital — we provide independent monitoring and governance support across the holding period.
Composite anonymised case. Not a live deal. For methodology demonstration only.
Offtaker: State utility, single-buyer PPA (20-year tenor) · Structure: Project finance, 70/30 debt/equity, DFI participation
| Assumption | Base | Stress |
|---|---|---|
| Annual availability | 88% | 76% (P90 resource) |
| COD delay | 0 months | 6 months |
| Offtaker payment lag | 30 days | 90 days |
| Min DSCR (base) | 1.31× | 1.08× (stress) |
Red flags identified:
This is an illustrative composite based on anonymised project characteristics. Not a representation of any actual client engagement or live transaction.
We don't charge on AUM. We don't take brokerage fees. We charge for judgment.
3 months. No lock-in.
Full pipeline coverage. Governance included.
Per engagement. No retainer.
Trial period converts to standing only by mutual agreement. We can end it too.
Hokulea Group is a single-principal infrastructure finance advisory.
We exist because family offices deploying capital into energy transition and digital infrastructure face a gap: they need someone independent, technically fluent in project finance, and unafraid to say no.
The principal brings regulated asset management experience (SFC Type 9 responsible officer), cross-border M&A, and infrastructure project finance advisory across Asia and emerging markets. The firm does not employ engineers — we translate technical risk into cash flow impact, and we bring in independent engineers where specialist validation is required.
One person. Independent judgment. No conflicts of interest.