Scott Mitchell, a broker with Colliers Monroe Friedlander who represented Ekahanui in the sale, said Wynn plans to upgrade the course, restaurant and clubhouse to return the operation to profitability.

"It's basically a turnaround opportunity," he said.

Wynn, who heads Imperial Investment & Development Inc., could not be reached for comment.

The Hawaii Country Club was developed in the late 1950s by John R. "Red" Uldrick as the International Golf and Country Club.

Very popular in its heyday as one of only a few O'ahu courses open for public play, the course had fallen on hard times in recent years as Hawai'i's golf industry expanded with a glut of courses, especially in Central O'ahu.

More recently, the Hawaii Country Club, which caters almost exclusively to kama'aina, faced new competition when the Royal Kunia Country Club opened in early 2003.

Current operators of the old Kunia course declined to disclose the number of rounds played, but Mitchell said business has been affected by Royal Kunia.

Ekahanui's asking price for the Hawaii Country Club started at $16.7 million in early 2001 and was cut to $7.8 million later that year. For property tax purposes, the city values the course land and improvements at $7.1 million.

Mitchell said he expects Wynn at a minimum will have to invest a couple of million dollars to make the course more competitive.

Because the course is set amid pineapple fields distant from residential development and infrastructure in lower Kunia, there is no near-term opportunity to develop surrounding agriculture lands, Mitchell said.