KONA, Hawaii: 300 acres at Ooma are on the market once again, and the asking price is $26 million.

Located between the Shores at Kohanaiki Golf Club and NELHA in Kona, the parcel is a prized stretch of undeveloped coastline.

The property was sold for $35 million several years ago, purchased outright by developer Dennis Moresco. Moresco attempted to get approval from the State LAnd Use Commission to rezone the conservation district lands to urban, in order to proceed with the planned Ooma Beachside Villages development. However, a pationate community rallied in defense of the conservation lands, and the land use commission denied the developer’s request. Now, the land is back up for sale.

Sellers remind potential buyers that Ooma is zoned “Open” by the County of Hawaii, with a County General Plan designation of Urban Expansion.

Sellers also say that under a worse case scenario, there are 217 acres where a sub-zone allows for a Single Family Home.

O’oma aerial photo from 2003, part of the marketing materials

For more on the sale, visit this page on LoopNet.

Ooma has cracked the top 10 on the annual purchase priority list created by the Public Access, Open Space and Natural Resource Commission three different times, going back to 2007. The Hawaii County Council has never passed a resolution to negotiate for the purchase because – until now – the land has not been up for sale.