Since 2000, Marc Benioff and his wife bought more than 600 acres in Hawaii worth nearly $100 million; they later donated 440 acres for affordable housing, starting with 43 homes
Since 2000, Salesforce CEO Marc Benioff and his wife, Lynne Benioff, have bought more than 600 acres of land in Hawaii worth nearly $100 million. Much of the land is in and around Waimea, a rural agricultural town on Hawaii’s Big IslandThe land buying increased after 2020, when the couple began purchasing residential, commercial and agricultural properties in Waimea. KQED found that Benioff had bought at least 38 parcels through six anonymous limited liability companies, or LLCs, and one nonprofit. The properties included more than 580 acres in Waimea and about 25 acres at beach resorts.The purchases attracted attention because Waimea has a close-knit community and a large Native Hawaiian population. Residents worried that wealthy buyers purchasing large amounts of land could increase competition for property and make it harder for local people to afford homes.The uncertainty also led to speculation about Benioff’s plans. Some residents believed he could be preparing a Salesforce facility or bringing engineers to the area, while others thought the purchases were connected to his charitable work. Benioff later rejected the idea of a Salesforce facility in Hawaii.
Land donated for affordable housing
A major part of the land purchases later became connected to affordable housing. Benioff and his wife donated 282 acres to the Hawaii Island Community Development Corp. (HICDC), an organisation that develops affordable housing on the Big Island.In June 2024, they donated another 158 acres to the organisation for the same purpose. The two donations brought their total contribution to 440 acres.The land is part of the Ouli Project in Waimea. The project will begin with 43 self-help affordable housing units and will include single-family homes, parks and community spaces.HICDC Executive Director Keith Kato said the project would help meet the need for affordable housing on Hawaii Island.“Our goal is to move quickly as affordable housing is needed today for low to moderate-income residents on Hawaii Island,” Kato said. “Without the Benioffs’ donations, none of this would be possible today.”The Benioffs also said they were pleased that HICDC could use the land to address the housing need. “We are so pleased that HICDC is able to use this land to support this important need,” they said in a statement.
Why the purchases raised concerns
Benioff had been buying property in Hawaii for years, but his focus changed after the pandemic began. During the first 15 years of his land purchases, he mainly bought beach resort properties. From 2020 onwards, he bought 22 parcels in and around Waimea.Some purchases were made for more than the current market value, according to KQED’s review of public records. One example was the property occupied by Mamane Bakery, a longtime local business that closed after Benioff bought the land.Residents said they were concerned about the effect of such purchases on housing costs. Hawaii was already facing affordability problems, while property prices in Waimea had increased sharply.KQED reported that median home prices in Waimea topped $1 million in January, 87% higher than before the pandemic. Across Hawaii, median home prices had risen by at least 22% from pre-pandemic levels, according to Redfin.State Senator Tim Richards said the pandemic brought an influx of people from the mainland who wanted to move to Hawaii.“We saw an influx of people coming from the mainland who wanted to get someplace that was, I guess, more isolated,” Richards said. “We saw a huge uptick of house sales and huge uptick of median price. … And that poses a problem.”“What young couple can afford that? Seriously. The answer is nobody,” he added.
Not all the land was for philanthropy
The affordable housing donation was only part of Benioff’s Hawaii land holdings. KQED found that 11 of his 38 parcels were connected to philanthropy. These included land for the Ouli project and five residential properties donated to a private school in Waimea in 2022. Another 158-acre parcel next to Ouli was also planned for philanthropic use.However, 24 of the 38 parcels, covering about 165 acres, were set aside for Benioff and his family members. These included a private ranch with 10 horses and homes in Waimea and near the beach.Benioff said the properties were not being bought for Salesforce. He also rejected comparisons with other technology billionaires who have purchased large amounts of land in Hawaii.“Our philosophy has always been different, which is that we’re really only here to have a home for our family and then to give,” he said. “We don’t have outsized properties. We have basically enough for ourselves.” He also said he was not planning a bunker, adding, “I’m not a prepper.”
