comscore Hawaii company makes $2.6M on land sale | Honolulu Star-Advertiser
Top News

Hawaii company makes $2.6M on land sale

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now

  • courtesy four seasons resort hualalai

Kaupulehu Investors LLC, a subsidiary of Barnwell Industries Inc., has netted $2,640,000 for the sale of its interest in Hualalai Resort.

Kaupulehu Investors "recently entered into agreements pursuant to which the company will receive $2,720,000 for the sale of our interest in Hualalai Resort to an independent third party," said Morton Kinzler, chairman and CEO of the Honolulu-based and publicly traded Barnwell, in a statement. "We have received all of the consideration except $80,000, which is subject to a holdback for PUC (Public Utilities Commission) approval of the sale of a utility." 

"The company will recognize a gain on this transaction in the company’s quarter ending September 30, 2014," he said, adding that Barnwell "still has continuing long-term interests in lands adjacent to Hualalai Resort."

Comments have been disabled for this story...

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up