Maui’s 262-room Ritz-Carlton in Kapalua will be sold at a foreclosure auction in May.



Second Circuit Judge Shackley Raffeto issued a foreclosure order for the property last month, and the sale, scheduled for May 5 on the steps of the Wailuku Courthouse, will include 73 residential suites, 35 other suites and 23 commercial units.

In a foreclosure filing, lenders Lehman Brothers Holdings Inc. and Sasco 2008-C2 alleged that the property’s owners, W2005 Kapalua/Gengate hotels, owed more than $268 million in fees, unpaid principal and interest.
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