Lowe’s makes big purchase for big Hawaii store

Lowe’s Companies is purchasing an 11-acre property in Kahului, Hawaii on the island of Maui for $18.7 million.

Lowe’s plans to build a 167,000-sq.-ft. store on the site. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party. The Mooresville, North Carolina-based retailer is buying the site from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

The new store will serve as anchor for A&B’s Maui Business Park II development, which features other retailers including Walmart, Home Depot, Costco, Sports Authority, Office Max, Kmart and Pier 1 Imports.