Olson Trust Buys 321 Acre Hilo Riverfront Estate in Landmark Sale

One of East Hawaii’s largest and most prized estates is now under new ownership.
Perched along the edge of Downtown Hilo bordering Wailuku River and Pukihae Stream, the 321 acre Greer Family Estate was purchased on February 6 by the Edmund C. Olson trust in a landmark sale.
olson estate orchards
Formerly owned by C. Brewer, the expansive ocean view acreage was once destined for high density urban development, before being voluntarily converted to agricultural zoning by David and Doris Greer, who went on to plant thousands of tropical fruit trees on the property.
olson estate waterfall
Kelly Moran of Hilo Brokers, Ltd. was hired to list the acreage for sale in May of 2014.  Moran described the interest he received in the property as “unprecedented,” with buyers from across the U.S. mainland and Asia touring the parcels, and multiple offers leading to a bidding war for the property.
It was Olson who presented the strongest position, acquiring the acreage for $6.25 million.  The purchase represents the third highest land sale in East Hawai`i history.
Olson, who holds large ownership positions in numerous Big Island businesses including the ka`u Coffee Mill, presented a “perfect match,” according to Moran.
“Ed understood the property’s history fully.  He already owned land in the area, and is deeply vested in the community there.”
olson estate
The 321-acre estate is one of the largest exotic fruit orchards in the state of Hawai`i, overlooking thundering waterfalls and commanding views of Hilo Bay.  Thousands of Longan, Lychee, and Rambutan trees are planted on the property, along with rare Mangosteen and several varieties of citrus.  Cattle also graze portions of the estate, which sits just above Wainaku street in Hilo.
Hilo Brokers, Ltd. listed the estate on the market for $7.5 million in late September.
“Properties of this size are almost non-existent this close to Downtown Hilo,” Moran commented, adding, “this was a once-in-a-generation type of sale.”

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