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What would the property taxes be for an entire island?
If you have to ask, you probably can't afford it
Probably not as much as you would think - mostly zoned for agriculture or non-use. Dole has a lot of land on the north shore of Oahu and doesn't do anything with it either.
I first read about the sale this morning and at the time and buyer hadn't been announced. I thought to myself Ellison would probably buy it. It fits his standard M.O. of having more money than he knows that to do with. He'll either A) - Develop the hell out of it until it bears no relation to anything but a gigantic version of the Atlantis Casino in the Bahamas or B) evict everyone who lives on the island and turn it into his own little personal Kingdom of Larry.
I first read about the sale this morning and at the time and buyer hadn't been announced. I thought to myself Ellison would probably buy it. It fits his standard M.O. of having more money than he knows that to do with. He'll either A) - Develop the hell out of it until it bears no relation to anything but a gigantic version of the Atlantis Casino in the Bahamas or B) evict everyone who lives on the island and turn it into his own little personal Kingdom of Larry.
I think it is a money losing situation to develop it further - the island is on record of losing $20 million plus per year. He got the hotels and golf courses with the sale - I think this is the ultimate I've got an entire island feather in the cap - he'll build some monster complex for himself - and hang there sometimes. He will shut down the hotels if they can't ever make money.
Heck, if I was worth billions of dollars - I'd definitely do it - it is Lanai!
Too bad that the State of Hawaii didn't have the foresight to purchase it.
I think the 600 million dollar price for the state was problematic.
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