January 1, 2002
Contributed by Kekoa Paulsen
"CEO Hamilton McCubbin has directed us to have a new price list for our residential properties available by early February," said KS Residential Assets Division Manager Sydney Keli'ipule'ole. "The process has taken longer than anticipated, but we are all committed to rolling out new prices within this timeframe." Kamehameha Schools has been in the process of exiting Hawaii's residential leasehold arena since the mid-1980's. Of the approximately 15,000 single-family house lots KS originally owned, about 500 now remain in leasehold. Kamehameha also owned the leased-fee interest in nearly 13,000 multi-family units, of which approximately 5,000 remain to be sold. In accordance with Kamehameha's overall investment policy, the Trust is continuing to move out of the residential leasehold business, and those assets will be re-deployed to other asset classes. The Trust is seeking to arrive at a balanced, well-diversified investment portfolio that will provide the best returns possible in support of Kamehameha's educational programs. Keli'ipule'ole added, "The price list that is being developed for February should reflect the most current leased-fee values. However, if there are lessees who do not wish to wait for the new prices, they can call us for quotes based on the current price list." A price list has been available for most KS residential properties since 1991. Lessees will be informed of their new prices by letter from Kamehameha Schools in February. For current price quotes, lessees should call Fee Sales Manager Monica at 523-6310.
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
