A new owner has been found for Hawaiian Falls waterpark in Pflugerville, Texas, after the previous operator defaulted on payments owed to the city.

December saw Pflugerville city officials finalise the financial terms with Typhoon Waterpark LLC – operator of Typhoon Texas waterpark on the outskirts of Houston.

The company has secured a two-year operating lease, which includes renewal options until 2038.

The approved lease includes terms that outline the addition of certain family-family features and funding plans to upgrade the park in making it more of a regional destination, city officials noted.

“Our first priority for these negotiations was to ensure that we addressed the feedback we’ve received from Pflugerville families to make the park a more attractive and accessible destination,” said Pflugerville city manager, Brandon Wade.

“We also wanted to negotiate fair funding terms for all parties involved. We’re pleased with the terms, and we look forward to a successful partnership.”

The former Hawaiian Falls waterpark will re-open as Typhoon Texas in May.