Hāna Ranch Enters Sale Agreement with Bio-Logical Capital
By Wendy Osher
A purchase and sale agreement has been signed between Hāna Ranch and Bio-Logical Capital.
Under the agreement, Hāna Ranch has agreed to pass ownership of its East Maui property to Bio-Logical Capitol for an undisclosed purchase price.
According to a joint statement officials said Bio-Logical Caital has plans to continue “sustainable cattle ranching and expand organic farming, as well as other stewardship activities” under the deal, and preserve Hāna Ranch as a working cattle ranch.
“There are no plans for a wind project,” said Guy Kaulukukui, senior vice president of Bio-Logical Capital in a statement today. “Hāna Ranch is one of the best-managed cattle ranch operations in Hawai’i. Its employees have done a fantastic job of building a healthy, all-grass-fed, productive cattle herd. We want to build on their work and help lead Hawai’i in growing healthy food and strong communities,” said Kaulukukui.
He went on to say that the company is “truly humbled” to take on the kuleana of the ranch. “It is at once a privilege and a great responsibility. Hāna 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,” said Kaulukukui.
Bio-Logical Capital is described as a land investment, development, revitalization, and conservation entity. Officials say the company will conduct a due diligence investigation prior to the anticipated closing date.
Officials at Hāna Ranch Partners, meantime, said they are pleased to have Bio-Logical Capital become the new owner of Hāna Ranch. “The company’s commitment to agricultural operations, conservation of the land, and preservation of its history, ensures that the unique heritage of Hāna will be maintained,” said Roy O’Connor, chairman of the Hāna Ranch Partners’ executive committee.
State Senator J. Kalani English, who lives in Hāna and represents Hāna, East and Upcountry Maui, Moloka’i, Lāna’i and Kaho’olawe welcomed the new owners saying, “I believe Bio-Logical Capital’s deep respect for the land, passion for thoughtful and sensitive stewardship of Hāna Ranch, and willingness to contribute to the betterment of our families makes them a natural fit with my hometown of Hāna. I look forward to working with Bio-Logical Capital and the entire Hāna community as we strive to make Hāna Ranch one of the best models for smart, sustainable ranching and farming in the nation,” Said Sen. English.
Company officials with Bio-Logical Capital said a first step will be continuing meetings with community leaders and working to engage with the community regarding the planned purchase.
Daniel Omer of Island Sotheby’s International Realty is representing Hāna Ranch Partners in the sale.