The owners of Hana Ranch have reached an agreement with Bio-Logical Capital, the company that has been seeking to purchase the east Maui parcel of land for months.

Bio-Logical Capital, with offices in Honolulu, Denver and San Francisco, focuses on environmental sustainability, including energy and agricultural projects.

Monica Salter, a company spokeswoman with Bennet Group which represents Bio-Logical Capital, said that a sales agreement had been signed, but the company still had to finalize the purchase. She said she wasn’t sure if there is an expected closing date.

“It’s the furthest step (Bio-Logical Capital) has gotten with any project to date,” she said.

The company is also seeking to develop a wind farm on Molokai in conjunction with San Francisco-based Pattern Energy, as part of a joint venture called Molokai Renewables. The wind farm is part of the Big Wind project that is envisioned to ship power to Oahu via an undersea cable.

In an interview with Civil Beat on Wednesday, Bio-Logical Capital CEO Grant McCargo skirted questions about a timeline for developing projects on Hana Ranch. He said that the company was also looking into a project on Oahu’s north shore, but wouldn’t disclose any details.

The 4,500-acre Hana Ranch property has been listed for $55 million by Sotheby’s International Realty.

He said that Bio-Logical Capital was interested in having mixed livestock operations on the land, which would include raising cows, chickens, pigs and goats, as well as hundreds of crops that would be sold locally.

McCargo said the company was interested in creating sustainable agricultural models that benefit the local community.

“We’re not creating a new plantation,” he said.

About the Author