UPDATE: AP is now reporting that Hawaii's Governor says Larry Ellison has agreed to buy 98 percent of Lanai.
BEFORE: Lana'i, a small island that's part of the state of Hawaii, is on sale for between $500 and $600 million, and a potential buyer already revealed himself at a mayor's county meeting last week, according to USA Today.
The island is virtually untouched, with just one school and 3,200 residents. The island is 141 square miles, with just 30 miles of paved roads.
Billionaire David Murdock's Castle & Cooke currently owns 98 percent of the island, and rumor has it Larry Ellison, the CEO of Oracle Corporation might be the potential buyer, according to The Daily Mail. Ellison already owns a home on the island.
Bill Gates' name has also been thrown out as a prospective buyer, according to MauiNow.
Officials are worried the untouched paradise might be ruined if a big developer purchases the island.
Currently there are no traffic lights or shopping malls on Lana'i.
As you can see, the island seems pretty remote.
From this aerial view you can see the rare spot where there are paved roads on the island.
Lana'i has been known as Pineapple Island since 1922. It makes sense because the pineapple fields seem to go on forever!
See the rest of the story at Business Insider