Kaika Teppanyaki, a hibachi restaurant known for its Asian fusion cuisine and tableside cooking shows, closed July 26 for renovations. Owner Maggie Wang opened the restaurant in 2015.
The restaurant, at 1012-1 Margaret St. in Five Points, will reopen in late August under a new name, Iwa, specializing in all-you-can-eat sushi. Wang, who also owns Sake House at 824 Lomax St. in Five Points, said she is retaining all of her staff through the transition.
Wang said the economy is the reason for the change.
“I thought the economy was going to come back, but I’ve been waiting for another year already. It’s still bad. So I think maybe this is the time to change,” Wang said. “I think [hibachi is] sometimes too expensive.”
Prices have not been finalized, but she said she expects lunch to be priced below $20. The 85-item dinner menu will cost under $25 and the full deluxe menu will be under $35.
Sushi will be prepared to order. Options will include veggie rolls, raw rolls, hand rolls and fried rolls. There will be six sushi nigiri choices. Regulars will notice that many of the Kaika appetizers will remain on the Iwa menu, a detail that matters to the loyal customers who return week after week.
“Friday nights we have a crew that comes here. We know them all by name,” said Megan Romanski, general manager. “There are 10 to 15 of them that come here every Friday and they order a lot of the appetizers and things like that. They’ve been coming for years.”
Table service will remain, as will the full liquor bar.
The hibachi grills and hoods will be removed and replaced with additional seating. The lattice that separates the bar and reception area from the hibachi room will also be removed.
Dismantling the hibachis will be a major job, Wang said. Care will have to be taken when they are taken apart. The grills are fueled by gas. She also has a buyer who wants the hibachi and hood setups. The sale of that equipment will contribute to the estimated $100,000 remodeling budget.
Wang is considering keeping one hibachi to accommodate those customers who want that experience.
Fresh Start Construction of Jacksonville is the contractor.
Wang, 47, is from China and came to Jacksonville to visit family who had previously moved here. She moved to Jacksonville in 2002 and became a United States citizen in 2023.
Wang chose the name Iwa for sentimental reasons, and perhaps a bit of hope that some luck might come with it.
“My best friend, she lives in Seattle and her restaurant is called Iwa. Her business does very well. I hope to bring some good luck from her,” she said.
Lunch is from 11 a.m. to 3 p.m. Monday through Friday. Dinner is 3-9:30 p.m. Monday through Thursday, 3-10 p.m. Friday, noon to 10 p.m. Saturday and noon to 9 p.m. Sunday.