March 4, 2002
Contributed by CEO Message
Media Advisory Kamehameha Schools Leasehold Prices Due in March Lessees of Kamehameha Schools residential properties should begin hearing about new leased fee prices within a month, according to Kamehameha's CEO Hamilton I. McCubbin. "We expect to begin notifying lessees of new leased-fee prices for most of our residential properties by the end of March." The process has involved a comprehensive review of detailed information relating to more than 5,000 residential leases. "We have received a large amount of data from the three independent firms we contracted to appraise the bulk of our residential inventory on O'ahu," said KS Residential Assets Division Director Sydney Keli'ipule'ole. "From this data and other information, we are now developing KS’ price list. This has been our top priority since before Christmas, but it has taken us longer than anticipated to develop the price list for our lessees." Kamehameha Schools is in the process of setting new prices for its leased fee interest in most of its remaining 5,000 multi-family units and 400 single-family houselots. The Trust has been voluntarily selling its single-family properties since the early 1980s. It began voluntarily selling its multi-family properties in 1991.
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
