The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A US investor yesterday confirmed the Government has provided all approvals for his $35m acquisition that promises to revive the Berry Islands’ Great Harbour Cay destination after 50 years of economic stagnation.

Matt O’Hayer, who already owns all or part of three nearby cays, told Tribune Business that it was “a real privilege and honour” that the Davis administration has paved the way for himself, and his Vital Shores LLC company, to close the purchase of Great Harbour Cay’s resort, marina and golf course from long-standing owners, the Fender family.  

The issuance of the necessary government approvals was revealed in the Central Bank’s December 2025 monthly economic briefing. Drawing on information provided by the Bahamas Investment Authority (BIA), the banking regulator reported: “Vital Shores LLC received approval to acquire various parcels of land that comprise the Great Harbour Cay Resort, marina and golf course for $35m.”

Mr O’Hayer, confirming that this information is accurate, told this newspaper: “I will confirm I have got those approvals and the Government has been very helpful in getting those approvals at every stage.

“I feel like it’s a real privilege and honour, and I am one of the luckiest guys on the planet to do this and work with the island community. I’m really lucky to be here, and feel fantastic to be doing what we’re doing on Great Harbour Cay. That’s how I feel every single day; it feels like a privilege to be here. I love the Bahamian people and to be here doing what I’m doing.”

Mr O’Hayer declined to provide details on his plans for Great Harbour Cay on the basis that the purchase of the Fender family’s assets, which include hundreds of unsold lots, plus the 80-slip marina, long-shuttered golf course, water utility and monopoly fuel concession, has yet to complete.

Tribune Business previously reported that the US investor, who some Berry Island residents referred to as "Mr Eggs" because of his role in founding Vital Farms, described by its own website as the "leading US brand of pasture-raised eggs", has already acquired three islands in close proximity to Great Harbour Cay - Lignum Vitae Cay, more than half of Cistern Cay and Bullocks Harbour Cay.

Nature trail and hiking tours on Lignum Vitae Cay are due to launch this week for cruise passengers who will be transported from Royal Caribbean’s nearby ‘Perfect Day’ destination at Coco Cay. The tours will be operated by a Nassau-based, 100 percent-owned Bahamian company, Bahama Island Group, while the ferries transporting the visitors will also be captained and crewed by Bahamians.

School children in the Berry Islands have made the signs that will be used to guide visitors, and all tour guides will be Bahamian. Mr O’Hayer, meanwhile, is understood to have already purchased two fire engines and two fire-fighting trailers which are already in the Berry Islands via his foundation.

A further two rescue trucks, capable of operating in five feet of water, have also been acquired from surplus US army stocks and are in the process of being outfitted in Houston before being transported to The Bahamas. Fire fighting trainers are also expected to arrive in the Berry Islands next week to help train local residents in how to combat the bush and other blazes that occasionally erupt on the islands.

The prospect of Mr O’Hayer’s Great Harbour Cay investment has been received positively many residents and observers familiar with the destination. “I’ve got to say it’s good news,” one source, speaking on condition of anonymity, said yesterday. “I think everybody agrees with that down there. This new fella has money to spend, and hopefully he will.”

The Berry Islands destination has been in the economic doldrums for at least 50 years following the 1973 economic recession sparked by the global oil embargo imposed by Arab producers in the wake of their clash with Israel. This was then followed in 1975 by the exit of Great Harbour Cay's original investor/developer, Louis Chesler, who abandoned his tourist development on the island.

Tirrel Fender, a Florida realtor, acquired the bankrupt resort’s assets in the early 1990s, and signed a Heads of Agreement with the then-Ingraham administration that provided tax concessions as well as a Crown grant for several uninhabited cays and hundreds of acres of mangroves. 

However, the promised development never happened. Deciding that Mr Fender had failed to live up to his obligations, the Government revoked the Heads of Agreement in the late 1990s after Great Harbour Cay's airport was declared unsafe and complaints about impassable roads soared. Tribune Business understands that the uninhabited cays may be included among the assets being acquired by Mr O'Hayer.

Despite the Heads of Agreement revocation, the Fender family has retained ownership of the assets they acquired 30 years ago while - in the eyes of most Great Harbour Cay residents - doing very little to develop or expand them, resulting in minimal job or economic benefits.

Mr O’Hayer has already launched a website to promote his Berry Islands project and investment, vitalshores.com, and this newspaper reported last year that he was already undertaking renovations and construction at the Great Harbour Cay beach club.

"From what I understand, it's pretty much a done deal," Leonardo Lightbourne, MP for North Andros and the Berry Islands, said then of Mr O'Hayer's acquisition of the Fenders' Great Harbour Cay assets.

"Speaking to him, it seems like a done deal. He's purchasing all of what the Fenders own down there. The beach club is where he's now in construction. He's going to put a hotel there along with villas. I'm happy something is happening for Great Harbour Cay."

As for the existing owner, Mr Lightbourne added: “"Government has been more than merciful in regards to what was given to them during the Ingraham administration. I think they had a contract with the Government to acquire and develop at the same time. They did some stuff. Now they are selling. It's an historical thing for the Fender family.

"I think for Great Harbour Cay economically this will be good. It's not an overnight thing; it will take some time to develop. He [Mr O'Hayer] has the community at heart. He has bought a fire truck and delivered two fire trailers, and is getting ready to bring them in. He's not just talking but putting his money into action. He's making things happen. He has a lot of persons employed on the various infrastructure and things he has going on.”

Some contacts, though, have questioned the ability of the Fenders to deliver marketable title to some of the property being sold. They explained that this stemmed from the Government's compulsory acquisition of land owned by the Fenders for the development of Great Harbour Cay's airport.

"They took over the airport and didn't charge any compensation," the source said of the Government. "I think Matt would be good for the island. I just hope Marc can deliver to title. Matt's a good guy." Tribune Business understands that the sum due to the Fenders for the airport land purchase may have to be offset against outstanding real property taxes that are due and owing by the current owners.