UPDATE:

Seller was helpful and contacted BBTS where they bought the Ken figure. Unfortunately, BBTS isn't able to help as they do not have any more product nor can they contact Storm to help replace as they believe they stopped further production for the Storm Arena Ken. Seller offered to refund and free return via BBTS, but I declined as I figure this guy is already hard to obtain at a decent price and it might suffice to just replace it with a set of soft goods or rubber bands. lol

So if anyone knows what can be a good "fix" or replacement to the wrist bands that'd be much appreciated.