Dillingham Ranch, one of Hawaii’s most popular filming locations, is officially off the market! Initially listed in October 2020 for $45 million, the massive site, which comprises an 18.8-acre oceanfront polo field (home to the Hawaii Polo Club) and a 2,721-acre working cattle ranch, was just snapped up in early March for $36.5 million. Though selling agent Neal Norman of Hawai’i Life declined to disclose information regarding the buyer, Yahoo! News recently reported that the property was sold to Peter J. Nolan, chairman of the Hermosa Beach-based Nolan Captial, Inc. investment firm, who boasts an extensive background in agriculture.
Nestled in the bluffs of Waialua on Oahu’s North Shore, the insanely idyllic locale “stretches from the oceanfront at Kai’ahulu Beach to the ridgeline of the Waianae Mountain range, bordering the Mokulē‘ia Forest Reserve” and “includes over 1,125 linear feet of ocean frontage and upland views of Ka’ena Point to the world-famous big wave surfing beaches,” as the listing detailed.
Jointly repped by Matt Beall, principal broker with Hawai’i Life, Matt Davis, director with Cushman & Wakefield in Southern California, and Anthony Provenzano, senior vice president of Hawaii’s local Cushman & Wakefield agency ChaneyBrooks, the sale marked “the largest contiguous land offering on Oahu” and was “among the largest contiguous agricultural land offerings in the entire state.”
While marketed as a possible development opportunity, with the seller receiving tentative approval to transform the expansive acreage into a 70-lot agricultural subdivision, Nolan revealed that he currently has no such intentions and is instead planning to maintain operating Dillingham as a working ranch. Calling it an “irreplaceable tract of land,” he recently told the Honolulu Star-Advertiser, “It’s not a piece of property that was bought with an eye toward development, at least not for the foreseeable future. I am…