Molokai Ranch up for sale at $260M

Roughly 35 percent of Molokai went on the market Thursday after Kailua-based Carvill Sotheby’s International Realty listed Molokai Ranch for $260 million.

The ranch’s 55,575 acres include an oceanfront resort, secluded beaches, agricultural lands and upcountry lodge properties covering over 300 parcels. The property also includes pastureland, forested conservation land, commercial and residential property as well as a couple of golf courses.

The new owner will be among the top five private landowners in the state, according to Carvill Sotheby’s International Realty’s listing.

“It’s been wildfire,” said Scott Carvill, principal broker and owner of Carvill Sotheby’s International Realty. “There have been very qualified buyer inquiries.”

The ranch’s 20 miles of coastline property on Molokai’s west end also includes nature preserves. The property features over 14,000 acres of reef habitat.

Carvill said the business entity with all of the real estate holdings is being sold intact.

“We’re not parceling it out; it’s everything,” Carvill said.

Carvill said the firm wants prospective buyers to research the property and the community’s sensitivities to development.

“We want them to be educated about the property and the history of the property,” Carvill said.

Nearly 10 years ago Molokai Ranch’s owner ceased ranching along with resort operations and other businesses on the island. That move by the island’s largest landowner and employer cost 120 employees their jobs.

Carvill said the current, Singaporean-based owner is looking to divest in order to focus on its hotel business.