An agribusiness venture on Oahu’s North Shore falls through
HONOLULU, Hawaii (HawaiiNewsNow) - The Kalona Brand Company says it’s shutting down operations on Oahu’s North Shore because of a lack of investors.
The sustainable farm venture partnered with Kamehameha Schools 5 years ago. They aimed to produce chocolates, ulu, and avocado.
The company bought all the equipment, installed irrigation and planted thousands of windbreak trees on a 222-acre property in Kawailoa.
Other steps preparing them for business included soil and irrigation work, equipment purchases, and the planting of 20 acres of cacao.
But without funding, they needed to halt their work. Its a blow to efforts of diversifying Hawaii’s economy.
[Read a previous report about their plan: With tourism shut down, sustainable start-ups hope to fuel a new era in Hawaii’s economy]
In a statement, the company said in part, “Kamehameha Schools, Equilibrium Capital, and Greenleaf Farm Management partnered over 5 years ago with a vision to build a Hawaii-based financially viable agribusiness that provided living wage jobs, both local and export food products, and practiced sustainable farming practices.”
The company says it will sell the farm and all its assets in the coming months.
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