A 485-acre tract of North Kohala land on the road to Pololu Valley is set to be sold.
The stretch of pasture and forest land is in a north Texas bankruptcy court, where a hearing on a possible sale and offer of $2.87 million is set to be considered by a bankruptcy judge on March 18.
According to court documents, the offer was put forth by Hawaii Ranch Partners LLC, which incorporated in Ohio last July. If the judge approves the sale and no higher offers are made, the company would acquire the land from Pacific Plains Co. LLC. The land, situated as Makapala and Niulii, entered a Dallas bankruptcy court in March 2012 as a Chapter 11 filing which was converted to Chapter 7 in September 2013.
The Waikama Road property is listed for sale at $3.2 million. Real estate website photos show the quintessential rolling pastureland of North Kohala with distant views of the ocean and the edge of Pololu Valley. The property contains the remnants of a small sustainable farm with a photovoltaic system. The parcel is adjacent to the Kohala Forest Reserve and is bounded by the Waipunalau Gulch to the west. There are no utilities available on the land.
The property has springs and seasonal streams and a catchment pond for cattle ranching purposes, according to real estate listings. It is currently zoned agricultural, which means the land could be subdivided into 20-acre lots. The property has two tracts, one at 477 acres and another at 7.2 acres.
An agent for the prospective buyer contacted by West Hawaii Today said it was premature to talk about plans for the site, and that a process needs to be followed before the sale closes.