Molokai Properties Ltd. said Monday it will shut down Molokai Ranch by the end of March.
The closure will result in the laying off of 120 staff over the next two months.
CEO Peter Nicholas said the decision was "purely a business one" related to delays in approving a master plan for the 60,000-acre ranch.
Nicholas said Molokai Properties Ltd. would "mothball" the company's assets on the ranch and close access to the property indefinitely.
Operations being closed include the Molokai Lodge, Kaluakoi Golf Course, Kaupoa Beach Village, Maunaloa Tri-Plex theater and gas station, and cattle-rearing and maintenance.
It was unclear whether Molokai Ranch's proposed plans to build 200 luxury homes around Laau Point, opposed by many residents, will be affected by the ranch's closure. The master plan stipulates that Laau Point would be the last development on ranch lands outside the resort area.
