In this paper, a complex adaptive re-weighting algorithm based on the homotopy technique is developed and used for beamforming. A multi-candidate scheme is also proposed and incorporated into the adaptive re-weighting homotopy algorithm to choose the regularization factor and improve the signal-to-interference plus noise (SINR) performance. The proposed algorithm is used to minimize the degradation caused by sparsity in arrays with faulty sensors, or when the required degrees of freedom to suppress interference is significantly less than the number of sensors. Simulations illustrate the algorithm's performance.