Filed under: Real Estate Developments
A major piece of Hawaiian real estate has hit the market. The owners of Hana Ranch, a 4,500-acre property on Maui have listed it for $65 million. The Honolulu Star Bulletin recently reported that Hana Ranch Partners LLC, the majority shareholder of which is a part of the Getty Trust, has been looking for foreign buyers from Asia, Europe and Canada. The partners, which also include San Francisco mayor Gavin Newsom, have been searching for a buyer for more than a year. Hana Ranch Partners purchased the property as an investment in 2001 for about $25 million and wants to find conservationists to preserve the rural nature of Hana. A conservation easement agreement with the Maui Coastal Land Trust saves 41 oceanfront acres from development and designates 100 acres of the land for affordable housing. So far the property hasn't been marketed for residential development. The listing is here.
Gallery: Hana Ranch