Pacific Business News - Bio-Logical Capital LLC will acquire the 4,500-acre Hana Ranch in East Maui for an undisclosed price from Hana Ranch Partners LLC, the two companies said Aug. 15.
Colorado-based Bio-Logical Capital plans to preserve the property as a working cattle ranch and has plans to expand organic farming on the land. The real estate investment and conservation company plans to conduct due diligence on the property prior to the closing of the sale, whose terms were not disclosed.
"We are truly humbled to take on the kuleana of this remarkable ranch," Guy Kaulukukui, who was recently named senior vice president of Bio-Logical Capital, said in a press release. "It is at once a privilege and a great responsibility. Hana is one of the last, best places in Hawai'i untouched by urbanization, rich in abundant natural and cultural resources, and with the potential to become a model for sustainable ranching and farming practices in the state."
Hana Ranch Partners said Bio-Logical Capital's commitment to agricultural operations and land conservation will ensure "that the unique heritage of Hana will be maintained," Roy O'Connor, chairman of the Hana Ranch Partners' executive committee, said in a press release.
The ranch surrounds the town of Hana and separates it from the ocean. It includes some 3,000 acres of pastureland and 1,500 acres of forest preserve on the slopes of Haleakala.