Maui Real Estate, a real- estate firm, is closing several properties in the state as it continues to prepare for a new owner.
A spokeswoman said in a statement Tuesday that it’s expected to close all of its properties in Maui by the end of next year.
The firm has more than 1,100 properties in Hawaii.
The closing comes as a major financial crisis has gripped the state and the country.
The firm’s CEO, James Hau, resigned after more than three years on the job.
He said his resignation was not related to any specific issue, but the company was struggling to find a buyer for its properties.
“We have had multiple offers, including offers from individuals who were unable to make a reasonable offer due to the economic and financial uncertainty,” the company said in its statement.
“The company remains committed to continuing to invest in Mauis real estate and continue to work with the Maui State Legislature to continue to provide a stable, secure, and affordable housing market.”
The company’s last sale was in 2013, when it sold a $2 million home to a developer in Mauldin, about 45 miles northwest of the city.
The company also sold several properties that were in Hawaii but not included in the deal in Maullin, which is about 30 miles south of Honolulu.
In addition to closing the properties in Kauai, the company will likely also close the three properties it’s in Mauilini, a community about 60 miles south-west of Honolulu, according to Maulline Property Group.
The property it sold in Mauiliini in 2013 is owned by the Maullini County Council, and it was a $7 million home.
Maulline also has another property it purchased in 2013 in Kapolei, about 80 miles north of Honolulu and about 60 to 70 miles west of Honolulu’s downtown.
The firm has sold five properties in Kapo, Hawaii, including a $1 million home in 2014.
It also sold two properties in Kona, about 60 kilometers north of Hawaii’s capital, Honolulu.
Mauldin Property Group, which operates several properties, said in an announcement Tuesday that the closing was “consistent with our goal of closing the Mauldines property portfolio by the middle of this year.”
The Mauldins’ three properties are in the town of Kapole, a town of about 500 people in the Central Hawaiian Islands.
The property it bought in Kapoho in 2013 was owned by Kapole City Council, but it was later sold by the council to an individual who did not want to sell.
The city has since sold the property to another individual.
The town’s website says the properties are being renovated and will continue to be sold as the Maulderins continue to “focus on growing their businesses.”
The council did not immediately respond to a request for comment.