First item on billionaire Oracle Corp. founder Larry Ellison’s Hawaiian to-do list: Buy an island. Second item: Buy an airline to fly him there.

At least that appears to be Ellison’s agenda given his acquisition this week of Hawaiian Island Air, a small carrier that shuttles passengers between the islands of the Aloha State. The deal comes less than a year after Ellison bought the island of Lanai, a former pineapple plantation adjacent to Maui that is now primarily known for its high-end resorts and golf courses, from fellow billionaire David Murdock.

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