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This study examines the local processes, effects, and responses to large-scale logging and agricultural development efforts in subsistence communities on New Hanover Island, Papua New Guinea (PNG). Recently, New Hanover became the site of three special agricultural and business leases (SABLs) that combined to cover approximately 79% of the island. The proliferation of SABLs within PNG is an outcome of recent national development initiatives promoting a significant increase in the production of commercial agricultural crops such as oil palm and biofuel. Accordingly, SABLs are designed to facilitate the development of long-term commercial agricultural industries in rural locations across the country through the conversion of forested lands and the simplification of communal land tenure, for the purposes of private lease. However, SABLs have simultaneously provided a convenient loophole around more restrictive national forestry policies and thereby become attractive to traditional logging interests in the Asian/Pacific region. Consequently, many SABLs across PNG have failed to produce viable agricultural development or broad local benefit. It is within this context, that this study pays particular attention to the experiences of women and lower-status landowners living through the processes of SABL conversion, during the El Nino drought of 2015. The study details the statuses and roles of these groups within the overall development process, the ways in which their social relationships changed in the context of development, why these groups were particularly vulnerable to the broad livelihood effects of forest conversion and drought, how they adapted to these effects, and what their hopes were regarding the future of the development project and life on the island. This study adds to current theoretical interests on emerging neoliberal frontiers of land and resource control by examining these SABL landscapes on New Hanover as contemporary examples of land grabs and documenting the very real local level consequences of this phenomenon. The study is also particularly significant in light of the growing threats to forests and forest-dependent livelihoods and the recognition of the importance of local forest practices to global sustainability.