This may sound crazy, but some things have value outside of money. Surf spots, for instance. For many people, that land is incredibly valuable.Deal is deal.
And “pure profit”? Who pays for the maintenance, staffing, etc.?
And what else are you going to use the land for? It’s cheap because it has no other $$$ value.
Even if it had no cultural value, I think this is one of those times where the Native Hawaiian community is just saying "enough" to the state. Better to let the land sit than continue with things as they were.