A&B sells Kukui‘ula residential project

LIHU‘E — Alexander & Baldwin, Inc., has sold its residential development at Kukui‘ula, according to a Friday announcement. 

A&B and development partner DMB Development, LLC of Arizona, sold the property to the Denver-based Brue Baukol Capital Partners yesterday.

BBCP is now the master developer of the community.

A&B and DMB, who formed a partnership in 2002 to plan and develop the 1,000-acre resort community, started construction on the project in 2006. More than 280 lots have been sold and more than 125 homes have been completed, according to A&B.

The partners pursued a sale largely because of A&B’s strategic decision to focus its business model on commercial real estate. A comprehensive marketing process began earlier this year and led to the selection of BBCP as the buyer and new developer.

“A&B and DMB have partnered for nearly 20 years in pursuit of our shared vision for Kukui‘ula,” A&B CEO Chris Benjamin said. “We are proud of the vibrant community we have created and thankful to our more than 200 Kukui‘ula employees for their help in creating such a special place.”

Benjamin said that A&B continues to have an interest on Kaua‘i, including the ownership of The Shops at Kukui‘ula retail.

“The sale of Kukui‘ula is an important step forward in the simplification of A&B’s business model and positions us to expand our Hawai‘i commercial real estate portfolio,” he said.

1 Comments
  1. Lance Jardin November 13, 2021 11:30 pm Reply

    We should all be thankful that “locally owned small businesses” Like A&B and its partners are contributing to Kauai’s housing shortage by providing 1000 acres of affordable housing for long term residents.

    What a joke!


Your email address will not be published. Required fields are marked *

*

By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, send us an email.