KO OLINA (HawaiiNewsNow) - After 47 years of service, Paradise Cove will hold its final luau on New Year’s Eve.

The landowner, James Campbell Company, said it will shut down the venue to begin redeveloping next year.

The luau’s parent company, PC Services, said 172 employees will lose their jobs.

It has been providing resources and holding job fairs for those workers.

A new $135 million dining, retail, and entertainment complex called The Cove is slated to replace the current venue.

Developers estimate the project will open by early 2027 and generate about 484 jobs.

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