In Maricao there was a Hacienda Balear established ca. 1870 by Ramón Frontera Pons who also owned Hacienda Santiaga and Hacienda Unión in Maricao and Hacienda Llanada in Lares.  Hacienda Balear in Maricao last known owner was Fernando Muñoz McCormick in the early 1960s it was acquired by the government, broken up in small farms and distributed under one of the Government social programs. In 1978 only scant ruins remained of its buildings and today there are no known remains of it. Hacienda Balear in Maricao and Hacienda La Balear were two different properties.

Hacienda La Balear was named after the Balearic Islands, the birthplace of its first owners.  Its origin dates back to 1870 and is related to Castañer Hnos. and Hacienda Los Rabanos, later known as Hacienda Castañer.  Ca.1880 the firm Castañer Hnos. acquired a two hundred eighty two cuerdas hacienda from Gregorio Cardona and renamed it La Balear.  Through the years, additional land was added to La Balear growing it to nine hundred and fifty cuerdas.  Hacienda La Balear and Hacienda Castañer remained in the ownership of Castañer Hnos. until 1898 when Juan Castañer Anglada (1847-1916) retired and moved to Spain.  The firm Sucrs. de Castañer S en C was then created with Spanish immigrants from Sóller Antonio Joy Joy and Antonio Ozonas Frontera (1870- ) as managing partners.  

Scres. de Castañer S en C ceased to operate in 1928 in part as the result of the damage caused by Hurricane San Felipe.  The firm was legally dissolved per deed issued in Ponce on February 17, 1938 before Atty. Erasto Arjona Siaca.  Per this deed, all assets and liabilities of the firm were assumed by Bartolomé Ozonas Castañer (1907-1997) who retained ownership of Hacienda La Balear.  Bartolomé Ozonas Castañer was the son of Juan Castañer Anglada's daughter Maria Castañer Vallés (1886- ) and her husband Antonio Ozonas Frontera (1870- ) who arrived in Puerto Rico in 1886 according to the 1910 census records.  

In 1957, the Government of Puerto Rico expropriated some two hundred cuerdas from Hacienda La Balear for the creation of Lake Guayo which splits the hacienda in two.  Hacienda La Balear is located on the southeastern shores of Lake Guayo near the township of Castañer.  It is today a thriving business dedicated to the production of coffee, plantains and oranges for export.

In a 1977 HAER Report prepared by Archeologist Luis Pumarada O'Neill, he states that there was no old coffee machinery left at the time but that its structures were large enough to reflect its past.  The vintage picture below is an undated panoramic view of Hacienda La Balear probably towards the end of the 19th Century.  Though in Spanish and "Mallorquín" and a little over an hour long, this YouTube video titled Memorias de Puerto Rico featuring two descendants of the Castañer brothers residents in Mallorca in search of the family history in Puerto Rico. It tells a very interesting story and detailed history the Castañer brothers and Hacienda La Balear.

After the death of its third generation owner Bartolomé Ozonas Castañer in 1997, the hacienda passed on to his son Antonio Ozonas Moragues (1932- ) and is today owned by a fifth generation family member Felipe Ozonas Morell (1961- ).