Like Hawaii? Not as much as Larry Ellison does

Oracle CEO not only bought himself the sixth-largest Hawaiian island, but also the airline that services it.

Technology mogul Larry Ellison liked the Hawaiian island paradise of Lanai so much he not only bought the entire island, but also the airline that services it.

The CEO of Oracle bought 98 per cent of the island of Lanai in June from Los Angeles billionaire David Murdock. The exact purchase price of the deal has not been disclosed, but local observers value the 36,500-hectare island at more than $US500 million ($A488.6 million).

A holding company owned by Ellison took control this week of Island Air, a regional carrier serving airports on all major Hawaiian islands.

The airline has 245 employees and three turboprop planes, with 224 weekly flights between the islands of Oahu, Maui, Molokai, Lanai and Kauai.

"We are excited Mr. Ellison has acquired Island Air," Les Murashige, president of the airline, said in a statement. "He has the vision and resources to literally take Island Air to new heights."

The carrier said it has plans for additional planes, routes and services.

Lanai, the sixth-largest Hawaiian island, was once a pineapple plantation and is still sparsely inhabited. The purchase will include two resort hotels and two golf courses with clubhouses, according to Hawaii's Public Utilities Commission.

Los Angeles Times via MCT