"I believe this is a once in a generation chance to preserve both a lifestyle for thousands of residents and a part of Hawaii that millions have come to love and identify as real Hawaii," said Gov. Lingle during her speech.

The governor said her plan to buy Turtle Bay "will be a defining moment for all of us," but she also acknowledged there will be critics and it won't be easy.

The Turtle Bay property includes 850 acres of land and five miles of coastline. It also has a multi-million dollar resort and two golf courses.

The governor wants to buy it all, much to the surprise of current Turtle Bay owners, the Kuilima Resort Company.

"Are they interested in talking with the state? The real answer is nobody can tell from the Governor’s state of state speech what it is she really intends," said Terry O'Toole, attorney for Kuilima Resort Company.

The property was once appraised at billion dollars, but it's currently fighting foreclosure and estimates for the state to buy it are expected to be less than $500 million.

The governor said she has already thought about alternative ways to come up with the money.

"These include, selling off the resort portion of the property to pay down the debt, exchanging other state lands, creatively using tax credits spread out over time, a tax check-off on our income tax returns, private grants, allocating Legacy Land Funds, federal conservation dollars, and a worldwide Internet fundraising campaign to 'Save Hawaii's North Shore,'" Lingle said.

"If the governor is true to her word, she will do this worldwide effort, kind of like saving the pyramids, and then maybe we will find that money. We'll have to see," said Rep. Kirk Caldwell, Majority Leader.

"It's very feasible. It won't be easy but land conservation is never very easy and its complex but it will be done," said Denise Antolini, Director of Environmental Law Program at the UH Richardson School of Law.

"I must say this, (Governor Lingle) really is dedicated to seeing we perpetuate our lands here in the state of Hawaii," said Rep. Calvin Say, House Speaker.

"I think the governor realizes we're determining the future of these islands with this type of preservation. It can't continue the way it has in the past," said Larry McElheny, founder of the North Shore Community Land Trust.

The people who live on the North Shore have fought development before. Now residents like the idea of putting the property in state hands in hopes of finding a balance between using the land without destroying it.

"We have a voice once the government has the property. With private ownership we don't have a voice." said Karl Corwin, North Shore resident. "(Governor Lingle) is going in the right direction. I hope our legislature can really listen."

The plan will not happen fast.

House Speaker Calvin Say said it will take the next three years or the rest of the Gov. Lingle’s administration, to finalize a deal.

In the meantime, the attorney for the current Turtle Bay owners said they will continue with their development as planned, until the state approaches them with more details.

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