July 8, 2001
Contributed by CEO Message
Given the reality of the Court rulings, followed in 1998 by the state's condemnation of the property for public use, Kamehameha Schools obtained an appraisal of the property that estimated the value to be $13.4 million. The state's appraisal valued the property at about $10.9 million. A settlement between the parties set "just compensation" at $12.85 million plus interest. In addition, Kamehameha Schools retains the right to repurchase the land if the state ever designates it as surplus property or seeks to transfer fee ownership. Speculation about what might have happened if circumstances were different may be interesting, but in the final analysis, the facts of this situation are what matter most.
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
