The Lucky Tiki opened in December 2004.

The first incarnation of the Lucky Tiki was as a short-lived tiki bar in the San Fernando Valley, opened by Bobby Green, who is also responsible for a number of popular themed bars in the Los Angeles area (Bigfoot Lodge, Little Cave, Thirsty Crow, Harlow, Idle Hour). The Lucky Tiki location, near where the 405 and 118 freeways meet, was once The Wild Cherry, a bar dating from the 1950s. Some of the artists responsible for the decor included Crazy Al Evans, Tiki Tony and Kevin Kidney.

In early 2006, the property the Lucky Tiki leased was purchased by a new owner and they closed soon after. The entire interior, including carvings and art, were put in storage.

Bobby Green wanted to reopen the Lucky Tiki in another location, initially in North Hollywood, then in the Palms neighborhood of West Los Angeles, but nothing gelled for several years and he became pre-occupied with other bar projects.

Finally, in March of 2024, after 20 years, The Lucky Tiki re-opened nearby Tail O' the Pup in West Hollywood.