Sayadaw U Dama and Kon Nga Yar Khaing Sayadaw funded the construction and maintenance of the pagoda. The annual Hta-Ma-Nhae-Pwe festival, celebrated on Full Moon Day in the month of Tabodwe (roughly September - October), is held here. The festivities last twenty days as four images of the Buddha are transported through the city by longboat; the boats are rowed using a technique which maximizes endurance. A fifth image of the Buddha is left at the pagoda to act as guardian while the festivities take place. Rowing competitions are also held.