We successfully disposed of our low-income producing lands.
In 2003, Hawai’i Land Management (HLM) was tasked with disposing of about 56,000 acres of the Company’s low income producing agricultural and conservation land in the state of Hawai’i. In 2009, this task was substantially completed.
Four transactions were closed in 2009 with a total value of $49.8 million for about 7,250 acres. They included our Palehua lands, the Grace Pacific Quarry, Kunia Village, and the first of four transactions currently under contract with the United States Fish and Wildlife Service (USFWS) in Kahuku.

By the end of 2009, HLM met 98 percent of its acreage goal. We also entered into contracts for the remaining two percent of the land that includes the last parts of the USFWS transaction and our final remaining piece of Kunia land. The cumulative acres and value are shown on the accompanying graphs.
Geographically, the Company’s 56,000 acres were on three islands, including the island of Hawai‘i, Maui, and O‘ahu. Historically, a good portion of these lands played a key role in Hawai’i’s agricultural history, particularly on the island of O‘ahu, where sugar and pineapple plantations were significant economic forces for nearly 100 years. In their totality, Campbell lands encompassed thriving communities and uses, including numerous large and small agricultural tenants, two plantation villages (Kunia and Kahuku), churches, a hospital, dozens of water systems, a golf course, ranches, aquaculture operations, telecommunication tenants, a quarry, endangered species, miles of dirt roads, pipelines and power lines. In the final analysis, not only did the Company exceed expectations in this program with all of its attendant financial benefits, but it also accomplished three important benefits for the community.