No, but you're on the right road.
I was looking at a crappy map and forgot about Waikoloa Rd. Don't take it! Saddle Rd. & 19 are nicer drives.
Are you sure that's the Waimea on the big island? That looks more like Waimea on Oahu. As you can guess by the picture, Waimea on the big island is pretty dry. It does get lots great rainbows:
