Formerly known as the Maui Prince Resort, the Makena Beach and Golf Resort sold at an auction yesterday.. Wells Fargo Bank, trustee of the mortgage lending trust group that foreclosed on the Makena Resort last year, prevailed  with a $95 million bid to purchase the 1,800-acre property.

This foreclosure process started on the Wailuku courthouse steps in May.  Wells Fargo had a bid of $55 million at that time. Judge Raffetto agreed to reopen bidding to allow two additional bidders to participate.  On Tuesday, the lender group, Wells Fargo, won the bid and 2nd Circuit Judge Shackley Raffetto confirmed the sale.  Ownership of the property will then be transfered to a new owner designated by the bidder who won.  The new owner was not identified.

There is a great value in this Makena Resort and Golf course as a whole.  It would be interesting to see what are the next steps the new owners would make, and how it would affect the developments surrounding it such as the Makena Place, Black Sand Beach, Keauhou at Makena and Makena Surf.  Are you interested in exploring some of these properties for possible purchase or investment? Contact me and I would be happy to assist you.