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Posted: Friday, March 8th, 2013 9:11 AM HST

Hokuli`a developer files for bankruptcy

By Ken Hupp - 67AM KPUA News

The developer of West Hawai`i’s Hokuli'a subdivision has filed for bankruptcy listing debts of between $500 million and $1 billion and assets of $10 million to $50 million. Development firm 1250 Oceanside Partners is seeking to reorganize its debts along with related firms Front Nine LLC and Pacific Star Co. LLC. Hokulia was master-planned more than a decade ago by Arizona developer Lyle Anderson and Japan Airlines as a luxury housing community featuring 730 homes around a 27-hole golf course. But their plans encountered numerous legal issues largely related to developing the project on agricultural land.