WAILUKU, Hawaii (AP) — A Delaware company has agreed to buy the financially troubled Residences at Kapalua Bay for $100 million — almost twice the amount it bid for the luxury condos on Maui two months ago.

Island Acquisitions Kapalua LLC offered the high bid of $55 million at an auction in December. But on Thursday at a scheduled confirmation hearing, the sale was reopened because at least one new bidder offered $57.75 million.