Shohei Ohtani, Agent, Settle Hawaii Real Estate Lawsuit

3/12 11:18 AM PT -- The plaintiffs in the matter released a statement following the news of the settlement with Ohtani and his agent:

"After further discussions between the parties, we recognize there was a misunderstanding of what transpired during the development of this project, and we are therefore withdrawing our lawsuit," the statement said. "The misunderstanding was of a business nature that is not uncommon in complex real estate ventures, and all parties have reconciled. The parties are enthused to move forward in a positive and mutually beneficial manner. We are proud of our contributions to the development of this world class project and look forward to its completion.

Shohei Ohtani and his agent, Nez Balelo, have settled their Hawaii real estate lawsuit ... TMZ Sports has learned.

Attorneys for both parties struck a deal to dismiss the case with prejudice ... saying they agreed to a settlement "of all claims and causes of action."

As we previously reported, the plaintiffs in the case claimed that the Los Angeles Dodgers superstar and Balelo sabotaged a $240 million real estate venture they had agreed to enter.

Kevin Hayes Sr., a developer, and Tomoko Matsumoto, a real estate broker, got involved in a luxury housing project on the Big Island -- and brought Ohtani on board to help promote it.

They alleged that a short time later, Balelo and Ohtani went to their business partner and attempted to have them fired "for no reason other than their own financial self-interest."

The complaint said the defendants "used threats and baseless legal claims to force a business partner to betray its contractual obligations" and strip Hayes Sr. and Matsumoto of the project they built.

They said they brought the lawsuit because they wanted Ohtani and others to be "held accountable for their actions, not shielded by fame or behind-the-scenes agents acting with impunity."

As for Ohtani ... it's a nice weight lifted off his shoulders heading into his third season with the Dodgers. For now, his focus is on the World Baseball Classic with Team Japan, which is gearing up for its quarterfinal showdown on Saturday.