In Hawaii, a roughly 3,600-acre ranch next to Oprah Winfrey’s property is coming on the market for $75 million.
Known as Hana Ranch, the Maui property is one of the largest pieces of land currently for sale in Hawaii, according to listing agent Dan Omer of Island Sotheby’s International Realty. Located on the island’s eastern coast, it is adjacent to roughly 100 acres of undeveloped land owned by the media mogul, records show.
A working cattle ranch, Hana Ranch is owned by Bio-Logical Capital, a Denver-based company that advises clients on a farming technique known as regenerative agriculture. Bio-Logical purchased the land in 2014 for nearly $9 million, Mr. Omer said. The company invested another $17 million to upgrade fences, structures and machinery, according to Bio-Logical founder and CEO Grant McCargo
Bio-Logical used the land to experiment with regenerative techniques in a tropical climate, Mr. McCargo said. The ranch currently has more than 1,000 head of grass-fed cattle. “We’ve been the stewards of this land and set it on a great path for the future,” he said. “We’re looking for the next steward.”
The ranch comprises 37 parcels, said Mr. Omer, a former papaya farmer who was chief operating officer of the ranch under a different owner in the early 2000s. There are multiple structures, including a roughly 1,800-square-foot house with two bedrooms, as well as an office, stables and a riding arena. Private walking trails crisscross the property, and there are eight acres of mature fruit orchards with breadfruit, citrus, banana and lychee trees. The ranch has ocean and mountain views, and Mr. Omer said a buyer could create a private estate on the land, which has multiple home sites.
Currently, Hana Ranch has about 2,500 acres zoned for agricultural use, Mr. Omer said. The remaining land is forest preserve, but Mr. Omer said it is possible to build one main home and one cottage on any property that is zoned agricultural.
Mr. McCargo said the deal will include a conservation easement, the exact parameters of which will be determined with the new owner. With the sale of the land, Bio-Logical is also donating around 15 acres to Maui County to build affordable housing. “It could be much more developed,” he said. “With what we’re doing now, it will limit that.”
Before Bio-Logical, the ranch went through several owners.
Ms. Winfrey owns several hundred acres of land on Maui, which she purchased over the past two decades, records show. About a decade ago, she carved out several acres for farming and worked with Bio-Logical to plant a fruit, vegetable and herb garden, she wrote on her website. Ms. Winfrey, who also has a large farmhouse on Maui, couldn’t immediately be reached for comment.
In recent years, Hawaii has seen several large land trades. In 2021 Facebook’s Mark Zuckerberg and his wife, Priscilla Chan, paid around $53 million for 600 acres in Kauai, records show. They previously purchased around 700 acres for more than $100 million.
Originally published on Wsj.com