Patt Morrison for June 21, 2012

Larry Ellison to buy Hawaiian island of Lanai, expected to fetch $500 million

Oracle CEO Larry Ellison demonstrates Or

AFP/AFP/Getty Images

Oracle CEO Larry Ellison demonstrates Oracle's social networking site during a keynote at the Moscone Center in San Francisco during the Oracle OpenWorld 2011 on October 5, 2011 in California.

An entire Hawaiian island will change hands this week. Well, almost a whole island.

Once home to the largest pineapple plantation in the world, Lanai is a comma-shaped island near Maui. Ninety-eight percent of the land is owned by Dole’s parent company, Castle & Cooke.

No longer home to pineapples, Lanai now features two resort hotels and a lot of stark natural landscape. Residents have been uncertain all week as rumors swirled about who the buyer would be and what exactly he or she would seek to do with the newly acquired land.

Now, a Hawaiian governor has announced that Larry Ellison, the CEO of Silicon Valley’s Oracle, will pick up the 88,000 acres. We check in with a local landowner to see how he feels about the new neighbors.

Guest:


Robin Kaye, head of Friends of Lanai and Lanai homeowner since 1974


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