Lehman Brothers Holdings Inc. (the lender) outbid two other qualified bidders for the 404-room Ritz Carleton in Kapalua, which was foreclosed in September after institutional investors and Maui Land & Pineapple Co. defaulted on a loan, most recently valued at $268 million. ML&P was counting on sales of its 107 luxury condos to pay back […]
Planning Commission Grants A&B Maui Business Park II Variance
The Planning Commission voted to give A&B Properties a special management area permit for Maui Business Park II in Kahului. Conditions include adding a two-lane road with sidewalks and a storm water treatment system. The expansion of the mixed-use, light-industrial park will be located on two properties, one behind Kmart and Costco and the other […]
Conference Committee Turns Coastal Mngmt Bill Upside Down
HB 117 is proof of the importance of active monitoring of bills at the legislature, especially in the closing stages of the session when so much happens behind closed doors. Just a week or two ago, this bill expanded our Coastal Zone Management Act to require public review of large, expensive single-family homes built along […]
Council Decides Not to Raise Developer Rates
A study by the County Council showed that costs associated with permitting big developments significantly exceed the fees collected to issue the permits. Despite that study, the Council voted not to raise permit fees. Gladys Baisa called the proposal to raise fees in order to cover costs “draconian”. The plan would have gradually adjust fees […]
Kahului Airport Hotel
A&B Properties and R.D. Olson Development will build a $16.5 million, 138-room Marriott hotel near Costco. A&B will retain ownership while Marriott manages the hotel. See the A&B press release for more info.