LandsofAmerica.com - Land Resources / News / Hawaii Hana Ranch on Maui for sale for $65M, Newsom owns 1 Percent
#1 in Land for Sale Online
Land ID Search
International Paper Timberland for Sale
Click Below to Find a Farm or Ranch for Sale
America
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

Land for Sale
sort by
Most Popular
Most Expensive
Most Acreage

Land Resources / News / Hawaii Hana Ranch on Maui for sale for $65M, Newsom owns 1 Percent
Hana Ranch on Maui for sale for $65M, Newsom owns 1 Percent (complete article from source)
Source: San Francisco Business Times, by Janis L. Magin
September 12, 2008

The owners of Hana Ranch, a 4,500-acre oceanfront property on Maui in Hawaii, have put it on the market for $65 million and are seeking a conservation-minded buyer who will preserve the remote rural land.

Hana Ranch Partners LLC — which includes San Francisco Mayor Gavin Newsom, heirs to the Getty Oil fortune and several Montana ranchers — recently listed the ranch with Dan Omer of Island Sotheby’s International Realty, who is the ranch’s former chief operating officer.

The ranch owners had started thinking about selling in the past year or so, but did not actively market the property.

The majority owner of Hana Ranch Partners is the Ronald Family Trust A, a Getty family trust whose principal beneficiary is Gordon P. Getty, son of the late billionaire J. Paul Getty and No. 503 on Forbes magazine’s list of the world’s richest people.

Getty’s partners are Montana ranchers Roy and Susan O’Connor; Susan Miller and Elon Gilbert, also of Montana; Jim Miller and Shiwei Gao of Berkeley, Calif.; Joseph and Victoria Cotchett of San Francisco; and Shea Halligan of San Francisco.

San Francisco Mayor Gavin Newsom, who is considering a run for California governor in 2010 to replace Gov. Arnold Schwarzenegger, owns 1 percent interest in the partnership. Newsom’s father, retired Judge William A. Newsom, is the trustee for the Getty trust and a member of the executive committee.

The ranch, which surrounds the tiny town of Hana and separates it from the ocean, comprises some 3,000 acres of pasture land and 1,500 mauka acres of forest preserve reaching the 2,200-foot elevation on the slopes of Haleakala. There also is a two-bedroom plantation house with ocean views.

Founded in 1944 by a retired San Francisco industrialist, Hana Ranch has changed hands three times over the past 25 years.

In 1989, a Japanese group, Keola Hana Maui, purchased the ranch and the hotel for $63 million and set off a six-year battle over a proposed golf course and homes around the course, dividing resident families into those who wanted development and those who wanted to preserve Hana’s rural character.

“It really put us into a civil war in Hana,” English said. “It was a big fight; it split the community right down the middle.”

The development never materialized and bursting of the Japanese real estate bubble in the early 1990s made it doubtful the project would move forward. Meridian Financial Resources bought the ranch and the hotel as one unit in 2000, divided the two, sold the ranch in early 2001 to Hana Ranch Partners for $24 million, and sold the hotel to Passport Resorts, which also owns the historic Post Ranch Inn in Big Sur.

When it bought the land, Hana Ranch Partners told the community it would continue the cattle operation, which has seven full-time employees — General Manager Amber Starr and six cowboys. The group also said it would sell large lots of land with possible deed restrictions to provide a return on its investment but that it would conserve open spaces and that it would provide land for affordable housing.

In July 2002, Oprah Winfrey and her former trainer, Bob Greene, purchased more than 102 acres on six parcels from Hana Ranch Partners for $15.5 million and planned to build three homes on the land. However, nothing has been built to date, and there have been no permits of any kind issued since Winfrey and Green bought it, according to a Maui County web site.



Click here for complete article from San Francisco Business Times
Signup | Contact Us

View All Land, Farm, Ranch, and Waterfront Properties for Sale

Land for Sale | Alabama Land | Alaska Land | Arizona Land | Arkansas Land | California Land | Colorado Land | Connecticut Land | Delaware Land | Florida Land | Georgia Land | Hawaii Land | Idaho Land | Illinois Land | Indiana Land | Iowa Land | Kansas Land | Kentucky Land | Louisiana Land | Maine Land | Maryland Land | Massachusetts Land | Michigan Land | Minnesota Land | Mississippi Land | Missouri Land | Montana Land | Nebraska Land | Nevada Land | New Hampshire Land | New Jersey Land | New Mexico Land | New York Land | North Carolina Land | North Dakota Land | Ohio Land | Oklahoma Land | Oregon Land | Pennsylvania Land | Rhode Island Land | South Carolina Land | South Dakota Land | Tennessee Land | Texas Land | Utah Land | Vermont Land | Virginia Land | Washington Land | West Virginia Land | Wisconsin Land | Wyoming Land

Rural Homes for Sale | Alabama Homes | Alaska Homes | Arizona Homes | Arkansas Homes | California Homes | Colorado Homes | Connecticut Homes | Delaware Homes | Florida Homes | Georgia Homes | Hawaii Homes | Idaho Homes | Illinois Homes | Indiana Homes | Iowa Homes | Kansas Homes | Kentucky Homes | Louisiana Homes | Maine Homes | Maryland Homes | Massachusetts Homes | Michigan Homes | Minnesota Homes | Mississippi Homes | Missouri Homes | Montana Homes | Nebraska Homes | Nevada Homes | New Hampshire Homes | New Jersey Homes | New Mexico Homes | New York Homes | North Carolina Homes | North Dakota Homes | Ohio Homes | Oklahoma Homes | Oregon Homes | Pennsylvania Homes | Rhode Island Homes | South Carolina Homes | South Dakota Homes | Tennessee Homes | Texas Homes | Utah Homes | Vermont Homes | Virginia Homes | Washington Homes | West Virginia Homes | Wisconsin Homes | Wyoming Homes

Lake Houses for Sale | Alabama Lake Houses | Alaska Lake Houses | Arizona Lake Houses | Arkansas Lake Houses | California Lake Houses | Colorado Lake Houses | Connecticut Lake Houses | Delaware Lake Houses | Florida Lake Houses | Georgia Lake Houses | Hawaii Lake Houses | Idaho Lake Houses | Illinois Lake Houses | Indiana Lake Houses | Iowa Lake Houses | Kansas Lake Houses | Kentucky Lake Houses | Louisiana Lake Houses | Maine Lake Houses | Maryland Lake Houses | Massachusetts Lake Houses | Michigan Lake Houses | Minnesota Lake Houses | Mississippi Lake Houses | Missouri Lake Houses | Montana Lake Houses | Nebraska Lake Houses | Nevada Lake Houses | New Hampshire Lake Houses | New Jersey Lake Houses | New Mexico Lake Houses | New York Lake Houses | North Carolina Lake Houses | North Dakota Lake Houses | Ohio Lake Houses | Oklahoma Lake Houses | Oregon Lake Houses | Pennsylvania Lake Houses | Rhode Island Lake Houses | South Carolina Lake Houses | South Dakota Lake Houses | Tennessee Lake Houses | Texas Lake Houses | Utah Lake Houses | Vermont Lake Houses | Virginia Lake Houses | Washington Lake Houses | West Virginia Lake Houses | Wisconsin Lake Houses | Wyoming Lake Houses

Powered by LandsofAmerica.com
COPYRIGHT © 2003-Current, All Rights Reserved
Terms of Use