Koa forest property near Hilo up for sale

Koa forest property near Hilo up for sale

HILO, Hawaii (AP) - A Honolulu company is selling more than 13,000 acres of what is considered to be the largest privately owned tract of old-growth koa forest in the world.

The Hawaii Tribune-Herald reports Finance Factors is selling the property known as "Hilo Koa Forest" for $14 million. According to their listing, the lucky buyer will become the 20th-largest private land owner in the state and eighth largest on the Big Island.

The area is located on the slopes of Mauna Kea and features rivers, waterfalls, ocean and mountain views.

President and CEO of Sofos Realty Corp., Steven Sofos, say most of the land is for conservation use. However, he says the nearly 1,300 acres of zoned agricultural land could be developed into more than 600 20-acre lots.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.