Pave Paradise Not
It looks as if one developer’s Hawaiian nightmare could be someone else’s dream property.
It sounds like the plot of that movie in Hawaii starring George Clooney where half the players want to develop the pristine land and the other half – not so much. A huge property on the rural island of Molokai is on the market for $260 million after the owner/developer gave up on fighting with the locals.
The roughly 55,575-acre Molokai Ranch “spans about 35% of the rural island, encompassing 20 miles of coastline, a multitude of secluded beaches, ranch land and forests,” according to the Wall Street Journal. There is also 1,200 head of cattle, two golf courses and a “mothballed” hotel and lodge on the property.
The previous owners proposed 200 lots for luxury homes and built a new hotel. Islanders rebelled despite the fact that the company had donated 26,000 acres to a land trust. “We are not looking for a buyer who wants to purchase with development rights as a contingency,” listing agent Scott Carvill of Carvill Sotheby’s International Realty on Oahu told the Journal. Only private buyers need apply.
Photos via Sotheby’s International Realty