Financially hobbled Maui Land & Pineapple Co. has hired a new chief financial officer after John Durkin, who held the position for a year, has resigned.

Durkin resigned Tuesday and Maui Land announced his departure yesterday. Veteran accountant Tim T. Esaki will take over as CFO May 10 with a $160,000 annual salary.

Esaki has been deputy director of Hawai'i County's Department of Public Works since last year. Before that he spent six years as senior vice president of finance and accounting for 1250 Oceanside Partners, which developed the controversial Big Island luxury community Hokuli'a that created 750 home lots primarily around a Jack Nicklaus-designed golf course on agriculture land.

Before Oceanside, Esaki had spent 13 years with accounting firm Ernst & Young LLP specializing in hotel and resort operations and other areas.