Honolulu-based Barnwell Industries said it has received a $1.77 million option payment as part of its development rights at the Hualalai Resort on the Big Island.

The payment is a portion of the eighth of ten scheduled option payments from the Hualalai development rights. The remaining $886,000 of the eighth payment is due on Dec. 31.

The payment was received by Kaupulehu Developments, a land development partnership that is 77.6 percent owned by Barnwell.