Mark Zuckerberg serves as a good lesson for other billionaires looking to invest in Hawaii.
Hawaii has had a long and controversial history of wealthy, powerful businessmen coming to the islands and buying up, or taking, large swaths of pristine, undeveloped lands.
That tradition continues today as executives from Wall Street to Silicon Valley want their own piece of paradise.
Tech tycoons Mark Zuckerberg and Larry Ellison, two of the richest men in the world, have each purchased a chunk of the Aloha State in recent years.
Ellison, a founder of Oracle, purchased some 88,000 of the 90,000 acres of the rural island of Lanai about five years ago for a reported
$300 million. Zuckerberg, CEO and co-founder of Facebook, bought 700 acres of beachfront land on Kauai a couple of years ago for about $100 million.
Zuckerberg received a wave of criticism for a series of lawsuits he recently filed to force the sale of small, isolated parcels of land from local and Hawaiian families using obscure laws.
The billionaire announced Friday he would drop the lawsuits in a letter to the editor in The Garden Island newspaper, even though he may have prevailed in court.
He said he learned about the cultural and historical significance of the lands he was trying to acquire after the lawsuits were filed.
“Now that I understand the issues better, it’s clear we made a mistake,” he wrote.
He wrote that “the right path is to sit down and discuss how to best move forward. We will continue to speak with community leaders that represent different groups, including Native Hawaiians and environmentalists, to find the best path.”
Zuckerberg should be commended for acknowledging his error and for trying to make it right. He also serves as a good lesson for others looking to invest in Hawaii, where real estate laws can be complicated and where there are deep historical and cultural issues to consider, especially when buying a large portion of land.
The rich and famous have long been drawn to the islands for the natural beauty, seclusion and laid-back vibe. Locals also are respectful of their neighbors and their privacy.
There are so many rich people in one area of the Big Island, Forbes called it “The Billionaire Getaway.” Some of the owners of the posh homes inside neighboring private resort communities include Michael Dell, Charles Schwab, Carol Ann Bartz, Paul Hazen, David L. Anderson and others.
On Maui, Oprah Winfrey accumulated about 165 acres more than a decade ago.
As long as the billionaires show they are respectful and understanding of the island communities and native cultures, and seek to preserve the environment and natural beauty, they will feel welcomed. They won’t if they build walls before even stepping off their private jets.
“We love Kauai and we want to be good members of the community for the long term,” Zuckerberg wrote. “Thank you for welcoming our family into your community.”
But because of Hawaii’s history, it’s hard to blame the people for being concerned when a billionaire moves in next door.
Jaymes Song is a top-producing agent with Better Homes and Gardens Real Estate Advantage Realty in Kahala. He can be reached at 228-3332 or JaymesS@BetterHawaii.com.
