  We demonstrate that at a filling of $n=1.5$, an hexatic insulating state
obtains in the extended Hubbard model on a triangular lattice. Composed of two
tetragonal sublattices with fillings of $n=1$ and $n=2$, the insulating state
is charge ordered and possesses an antiferromagnetic superlattice with
dimension $a\times\sqrt{3}$. Two distinct energy scales arise in our model, a
charge gap for the insulator and the effective exchange interaction in the
antiferromagnet. Our model is capable of explaining both qualitatively and
quantitatively the Hall coefficient including the sign change, the temperature
dependence of the resistivity and the persistence of antiferromagnetism above
the insulating state.
