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Kihei parcel sells for $8.5 million

Pacific Business News (Honolulu) - April 12, 2006

Pacific Coast Development, based in Newport Beach, Calif., has sold 4.3 acres on Maui to a new developer for $8.5 million.

The buyer was Kamaole Point LLC, which plans to finish developing 122 units of condominiums and time shares at the Kihei site.

It is Pacific Coast Development's first sale in Hawaii, according to principal Brett Shaves. He says the company is exploring other deals, including a project in downtown Wailuku.