Sotheby’s takes down $260M listing of Hawaii’s Molokai Ranch
What was one of the biggest real estate sales listings in Hawaii’s history has now apparently quietly fizzled away. In late 2017, a Hawaii affiliate of Sotheby’s International Realty announced via national publications that it was listing for sale a major portion of a Hawaiian Island. The 55,000 acres of Molokai Ranch was listed for $260 million about three years ago, and since then, the listing has been taken down, likely signaling that the owners have decided to go in a different direction. The ranch, a major part of the “Friendly Isle,” is primarily engaged in cattle ranching and utilities operations, and once was home to a popular hotel that has not reopened. The potential sale would’ve rivaled the sale of 98% of the island of Lanai, which was purchased by billionaire Oracle Corp. founder Larry Ellison, who paid $300 million for those properties several years ago. The tech titan now lives on Lanai, and has major development plans in the works such as building a substantial indus