It's been rumored for many months that the island of Lana'i has been up for sale, but from all reports it is now a done deal.
Oracle Corporation co-founder and CEO Larry Ellison has reached an agreement to buy the vast majority of Castle & Cooke's David Murdock's holding in Lana'i which are estimated to be 97-98% of the island including both of the resorts managed by Four Seasons as well as two golf courses, three utilities and a significant amount of other real estate holdings and undeveloped land. The sale is pending the approval of the Hawaii Public Utilities Commission which is expected within a week.
The island of Lana'i has gone through numerous changes in ownership over the past 200+ years. At one time known as The Pineapple Island and supplier of over 75% of the world's pineapple crop, the island took a drastic change in direction under current owner David Murdock, who discontinued pineapple production and invested heavily in resorts and real estate development.
Let's take a look back at the history of Lana'i and it's possible future in our feature Island of Lanai is Sold.