Wailuku Water Co., which provides water distribution services on Maui, is asking state regulators to approve this proposed transaction. The conservation-zoned land is undeveloped.
The water company said it entered into a purchase agreement with Ting Ranch LLC in late November. Duane Ting, who is the president of Maui Master Builders Inc., is a partner of Ting Ranch.
Wailuku Water said that the proposed sale is reasonable and in the public interest because the sale would allow the company, which has suffered operating losses, to help pay for its operating and capital expenses.
The sale also will not affect the ability of Wailuku Water to continue to provide water distribution services, the company said.
Wailuku Water also is in discussions to sell its watershed property as well as rights to the ditches, tunnels, reser…