9 Jan 2009

Hawaii fails to purchase Turtle Bay Resort

11:46 am on 9 January 2009

The U.S. state of Hawaii has been unsuccessful in its attempts to purchase the Turtle Bay Resort on Oahu's North Shore.

Hawaii Governor Linda Lingle's office said in a statement yesterday that although two offers were rejected by resort lenders, the state is prepared to negotiate further for the pristine 858-acre property.

The Honolulu Star Bulletin reports the Turtle Bay resort's interim manager said a government acquisition with public funds would not be prudent, especially in the ailing economy.