HAKALAU, Hawaii – Real Estate Brokers have called it the third largest privately-owned old-growth koa forest on the planet, and its up for sale, listed at $22 million.
The 3,127 acre Ohana Sanctuary covers nearly five square miles of pristine koa cloud forest, according to Beverly Molfino of Hawaii Life Real Estate Brokers. The current owners are “a family on the East Coast” reports a Molfino media release, who “are selling the property because they want to pursue others projects.”
The property – in Hakalau Nui – is described in the Molfino release:
|Situated on the slopes of Mauna Kea along the Hamakua Coast, the property encompasses 3,127 acres and features more than 50,000 trees, including koa (Acacia Grey), ohia, mamane, hapu’u, eucylyptus and more. In addition to vast tracts of ancient growth koa, the property contains several waterfalls, including Sanctuary Falls and Haiku Falls, both named by the current owner. The waterfalls and streams merge and flow into the ocean.|
Molfino also showcases the sweeping views of the Hakalau property on the website, beverlymolfino.net. Some of those photos have been re-posted here, with her permission.
Molfino says the property appeals to those looking to purchase the property for harvesting purposes or preservation. A recent timber inventory estimated that the property “contains 16.5 million board feet of koa wood, with an initial harvest of 6.5 million board feet and a sustainable yield rate of 6 percent to 8 percent per annum.”
“Given the popularity and scarcity of koa, a prized Hawaiian hardwood, the availability of this amount of Big Island land particularly a koa cloud forest, is highly appealing to a variety of potential buyers,” the release attributes to Molfino.
The property is zoned conservation resource, but Molfino says the potential exists to harvest the timber on site if the appropriate permits are obtained. It can be accessed from Chin Chuk Road
Molfino also suggests hydroelectric power could be created and generated on the site given the number of waterfalls on the property. –