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Alexander & Baldwin partnership sells Kukui‘ula on Kauai

  • COURTESY KUKUI’ULA
                                A Denver-based company is taking over the partially developed Kukui‘ula resort housing subdivision on Kauai.

    COURTESY KUKUI’ULA

    A Denver-based company is taking over the partially developed Kukui‘ula resort housing subdivision on Kauai.

A Denver-based company is taking over the partially developed Kukui‘ula resort housing subdivision on Kauai from a partnership led by Honolulu-based Alexander & Baldwin Inc.

A&B announced the $183.5 million sale completed today.

A&B and its Arizona-based partner, DMB Development LLC, sold the 1,000-acre project to Brue Baukol Capital Partners, a real estate investment firm.

Kukui‘ula is slated for 1,200 homes, and includes a golf course, a $100 million private club and spa as well as a retail center, the latter of which is being retained by A&B.

Construction began in 2006 on the master-planned project between Poipu and Lawai Valley on Kauai’s southern shore where A&B once farmed sugarcane, following several years of planning and entitlement work. To date, about 280 house lots have been sold, or about 23% of the planned total. About 125 homes have been built.

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