Posted on: Sunday, January 9, 2005

North Kona Makalei Golf Course sold

Advertiser Staff

A San Francisco real estate investment firm has bought the Makalei Golf Course in North Kona, the third Big Island property it has acquired in a year.

Lynch Investments LLC said it plans to upgrade the golf course and develop homes on the 1,652-acre property.

Lynch bought 866 acres of residential-zoned land in Waikoloa early last year for $10 million and acquired Kona's Big Island Country Club in June for $10 million.

The company is proceeding with development plans for Makalei but does not rule out the possibility of selling the property as well as the Waikoloa lands before that, said Ren Sanford, the C&H Properties Realtor representing Lynch.

Lynch acquired the Makalei property from Makalei Hawaii Corp., a company controlled by Atsushi Nakajima, brother of pro golfer Tommy Nakajima.

The Associated Press contributed to this report.