The announcement caught many off guard.

"For the one person working, there's usually three or four people at home so it is gonna be a major impact economically on the island. 7,500 people. 125 people out of work at one time is a big hit," said Molokai, East and Upcountry Maui Sen. J. Kalani English.

The closure includes Molokai Lodge, Kaupoa Beach Village and the Kalauakoi Golf Course.

The Maunaloa Theatre and gas station will also be shutdown.

Company officials said they made the tough decision because of financial losses from the lengthy fight over the master plan, which includes building 200 luxury homes at Laau Point.

CEO Peter Nicholas said in a statement, "Unacceptable delays caused by continued opposition to every aspect of the Master Plan means we are unable to fund continued normal company operations."

The company offered to protect 50,000 acres from future development. But many still opposed building on land they consider sacred.

"I'm glad Laau is not going to be developed. The only down side is the jobs for the people that work there but we have seen a lot of layoffs from the ranch already," said Molokai resident Victoria Kapuni.

The company owns about 40 percent of Molokai.

Families will no longer have access to fishing and hunting spots on the property.

As the community tries to deal with this devastating blow, some remain hopeful about the future.

"It's gonna be an opportunity for us to try and gain control because we've been working hard to get different buyers to try and buy out this ranch," said Molokai Activist Walter Ritte.

Related Stories:

OHA Trustee Machado Statement on Molokai Ranch Layoffs
Mayor Tavares Responds to Molokai Properties Announcement
Council Member Mateo Responds to Molokai Layoffs

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