Officials from Castle & Cooke Inc. met with Hawaii Governor Neil Abercrombie and Maui Mayor Alan Arakawa last week to discuss the potential sale of the their interest in the island of Lanai. Castle & Cooke currently owns 98 percent of the land on the island and has stated that a new potential buyer may be interested in the purchase. While no name has been mentioned as to who the next owner of the island might be, the company has confirmed that they would consider selling the land.
Over the past few decades, Castle & Cooke and their chief executive billionare David Murdock have explored various options for the island including building luxury resorts or making new luxury housing developments. Most recently, Murdock had planned to build giant windmills on the island that would deliver electricity to the island of Oahu through underwater cables. However, local Lanai residents have opposed Murdock and Castle & Cooke throughout the years and stated that they wanted to keep the rural feeling for the island.
Source: Honolulu Star Advertiser, 6-19-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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