The Ultra-Rich Take Over Hawaii: A Breakdown of Billionaire Landowners
Hawaii, known for its stunning landscapes and vibrant culture, has become a playground for the ultra-rich. In a recent investigation, Forbes discovered that 37 billionaires own a staggering 218,000 acres of land in the Aloha State. This amounts to 5.3% of the state’s total land and a whopping 11.1% of all non-government-owned land. These billionaires, who make up just 0.003% of Hawaii’s population, have amassed significant holdings, raising concerns among locals and sparking debates about wealth inequality and the future of the island.
One prominent billionaire landowner is media mogul Oprah Winfrey. With a total of 2,130 acres in Maui, Winfrey has been a long-time resident of Hawaii, owning a ranch on the island for over two decades. Last year, she acquired an additional 850 acres for $6.4 million, expanding her already extensive property. Winfrey’s land, which remained untouched during devastating wildfires that ravaged Maui last August, showcases picturesque green hills and a forest preserve on the slopes of the Haleakala volcano. She has taken steps to conserve the land and even established the People’s Fund of Maui, contributing $10 million to support wildfire survivors.
However, the influx of wealthy out-of-state landowners has not been without controversy. The pandemic-induced luxury real estate boom has driven up housing prices, exacerbating tensions between Hawaiians and the ultra-rich. In response to this growing divide, a controversial bill was introduced to ban non-Americans from purchasing land in Hawaii. Winfrey faced criticism for her relief efforts after the wildfires, with some questioning her decision to film her efforts and ask for public donations. Similarly, questions arose about the promised $100 million aid from billionaire Jeff Bezos and his partner Lauren Sánchez. Bezos’s spokesperson clarified that he has donated $15.5 million to nine charities thus far.
The issue of billionaire landownership in Hawaii is not new. Wealthy individuals, including tech titans and business moguls, have been buying up land in the state for years. However, the extent of their holdings has only recently come to light. Forbes conducted an extensive investigation, delving into property records on Hawaii’s six largest islands. The results were astonishing, revealing that just 37 billionaires own a significant portion of the state’s land.
Some billionaires have deep ties to the community and have made efforts to give back. Salesforce CEO Marc Benioff, who has a net worth of $10.2 billion, has donated $100 million to various causes in Hawaii over the past two decades. He and his wife, Lynne, recently donated 282 acres for affordable housing. Benioff feels a strong spiritual connection to Hawaii and strives to incorporate the Hawaiian concept of ohana, or family, into Salesforce’s culture.
On the other hand, some billionaires prioritize privacy and isolation. Facebook co-founder Mark Zuckerberg, with a net worth of $166 billion, has reportedly built a bunker on his partially walled-off compound in Kauai. Real estate broker Rob Kildow recalls a conversation with a billionaire resident at the private Hualalai Resort who said, “Half the people here don’t know who I am, and the other half don’t give a crap.”
The impact of billionaire landownership on Hawaii’s local communities and environment is a subject of concern. Wayne Tanaka, director of the environmental nonprofit Sierra Club of Hawaii, remains hopeful that high-net-worth residents can engage with their surroundings and contribute positively to the state. However, he acknowledges that more and more of Hawaii is becoming a playground for the rich.
The top ten billionaire landowners in Hawaii include Larry Ellison, the co-founder of Oracle, who owns a staggering 87,810 acres on Lanai. Steve Case, the co-founder of AOL, is the state’s second-largest billionaire landowner, with 57,400 acres, including the Grove Farm on Kauai. Malaysian tycoon Quek Leng Chan owns a third of Molokai, while Frank VanderSloot, the founder of health-and-wellness business Melaleuca, owns the historic Valley House estate in Kauai.
Other notable billionaire landowners in Hawaii include Neil Bluhm, who owns over 3,900 acres through his stake in Kaanapali Land, and Brad Kelley, one of the country’s largest landowners, who bought 2,750 acres from Steve Case’s Grove Farm. Oprah Winfrey and Mark Zuckerberg also feature on the list, with 2,130 acres and 1,450 acres respectively.
The concentration of land ownership in the hands of a few billionaires raises important questions about wealth inequality and the future of Hawaii. As more ultra-rich investors acquire vast tracts of land, locals are left grappling with rising housing prices and limited access to affordable housing. The debate surrounding billionaire land
