The 22-year-old has left Ewood Park after his contract expired, but Kean remains confident he will return.
"Junior is out of contract and we've made him a very good offer," Kean told BBC Radio Lancashire. "It's not dead yet.
"If a club in this country signs him, there will be big compensation. We'd like him still to be here but I'm in the dark a little bit."
He added: "When a player runs out of contract, you make him a good offer and he doesn't sign, you fear the worst, but we'll just have to wait and see."
Hoilett hit seven goals in 37 appearances for Rovers last season as the club finished 19th in the Premier League.
The Canadian star has been linked with Newcastle United, Sunderland and QPR, while there is also believed to be interest from abroad, including German side Borussia Monchengladbach.
Meanwhile, Blackburn assistant chief scout Kevin Cruickshank is leaving the club to join QPR.
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