Ke Ali‘i Bernice Pauahi Bishop stewarded a vast ‘āina portfolio grounded in her chiefly lineage. She had the incredible foresight to ensure those lands would benefit Native Hawaiian keiki and the lāhui for generations to come. She wrote in paragraph 13 of her will: “For the purposes aforesaid I grant unto my said trustees full power to lease or sell any portion of my real estate, and to reinvest the proceeds and the balance of my estate in real estate, or in such other manner as to my said trustees may seem best.”

Our present-day existence as Ke Kula ‘o Kamehameha is built upon this kahua of taking decisive action. That’s because 100% of the financial resources needed to fulfill Ke Ali‘i Pauahi’s wishes come from the success and growth of the endowment. ‘Āina is not simply part of that story, it is foundational to it.

Our Board of Trustees and CEO have called for ‘āina stewardship grounded in E Ola!  This multi-generational perspective is rooted in our past while innovating forward. It is central to how we approach ‘āina today. Rather than managing a static inheritance, we are stewards of a living ‘āina legacy, one that must evolve and regenerate to create waiwai (value) in all its manifestations – education, finances, culture, food, water and all elements necessary for thriving keiki, ‘ohana and kaiāulu.

In recent years, there have been several land transactions within the 373,000-acre ‘āina Pauahi portfolio. Kā‘eo Duarte, the vice president of the ‘Āina Pauahi Group, understands the sensitivities that surround any decision regarding ‘āina, and says these sales — and acquisitions — are taken very seriously and are undertaken with rigor, intention and an unwavering commitment to our mission and kuleana as cultural stewards. 

“There are certain ‘āina where, through investment, we’ve been able to realize tremendous financial value creation over time. And there are times when it’s appropriate to realize the value and reinvest it. These decisions are difficult and tug at our na‘au. But there is also a tremendous upside knowing that these sales enable us to invest in other ‘āina, other communities, and create waiwai in other ways for future generations,” Duarte said.

Producing positive impacts across communities and over time is the heart of the “moku approach” to ‘āina. Using traditional moku as a frame of reference, KS seeks to maximize collective waiwai across geographies and generations. We are not balancing between values; we are advancing a model in which cultural grounding drives enduring prosperity. We do not view cultural stewardship and financial performance as competing priorities. Our strategy and experience affirm that when ‘āina is stewarded well, it generates long-term economic strength, resilience and opportunity. This viewpoint applies to all land-use types and activities — agriculture, education, forestry, residential, industrial, retail, cultural landscapes and more.

Future acquisitions, sales and restorative investments are always under consideration. Each decision is made in the context of moku and portfolio plans, reflecting a commitment to remain a significant and enduring steward of ‘āina while continuously strengthening the portfolio that sustains our mission.

This work aligns with Strategic Plan 2030, which was released in late 2025. Two of the plan’s four goals reflect an integrated approach in which culturally grounded stewardship generates strong financial returns.

Goal 3: ‘Āina

Through E Ola! and culturally rooted stewardship, generate competitive financial portfolio returns while cultivating prosperous ‘ohana and communities.

Goal 4: Enterprise

Achieve performance excellence through disciplined management standards (operational, financial and risk management) and globally competitive lines of business, with a collective commitment to E Ola!

To fulfill this kuleana, we must generate the resources needed to serve today’s learners while also growing the endowment to sustain future generations. This is not a question of tradeoffs; it is a commitment to excellence across generations. Second, we must earn a financial return that exceeds our spending rate plus inflation to ensure tomorrow’s beneficiaries have the same opportunities as today’s.

Following Ke Ali‘i Pauahi’s kauoha, Kamehameha Schools must take a bold approach to its ‘āina strategy, ensuring that we are not simply drawing from what was entrusted to us but actively growing it for generations to come. As we consider these moves, we know that community visions, progress and insights are crucial guides for us. With that recognition, we are committed to connecting with key community leaders and others with a passion for the work ahead.