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Mammoth Maui cattle ranch hits market for $75M
It is one of the largest pieces of land for sale in Hawaii
Talk about surf and turf!
A 3,600-acre cattle ranch on the shores of Maui is hitting the market for $75 million — making it the largest piece of land for sale in the tropical state.
The Wall Street Journal is reporting that the property, known as Hana Ranch, is on the island’s eastern coast and is adjacent to nearly 100 acres of undeveloped land owned by media mogul Oprah Winfrey.
A working ranch with more than 1,000 grass-fed cattle walking the land, it is presently owned by Bio-Logical Capital, a Denver-based company that councils customers on a farming practice called regenerative agriculture. It purchased the land in 2014 for about $9 million, then invested another $17 million on upgrades, Bio-Logical founder and CEO Grant McCargo told the newspaper.
It used the land to experiment with regenerative techniques in a tropical climate, McCargo said.
Featuring ocean and mountain views, the ranch consists of 37 parcels of land with 2,500 acres zoned for agricultural use — meaning it is possible to build one main home and one cottage on any parcel designated as such. The remaining land is a forest preserve.
The land also features multiple structures, including a roughly 1,800-square-foot two-bedroom house, an office, stables and a riding arena, as well as private walking trails and eight acres of mature fruit orchards growing banana and lychee trees, among others.
Any deal for the land will include a conservation easement, the parameters of which will be worked out with the new owner, and Bio-Logical says it is also donating around 15 acres of its land to Maui County to build affordable housing.
“It could be much more developed,” McCargo told the Journal. “With what we’re doing now, it will limit that.”
There have been several large land sales in Hawaii in recent years, including Mark Zuckerberg and wife Priscilla Chan’s binging on 600 acres in Kauai for $53 million last year after laying out 200 million for 700 acres there prior to that.
[Wall Street Journal] — Vince DiMiceli