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HCDA moves to bring Honua Kaha property management in‑house and pursue longer‑term ownership transfer
Summary
The Hawaiʻi Community Development Authority voted to terminate the Honua Kaha limited partnership agreement, procure a licensed property manager under HCDA control points, and implement a longer‑term ownership transfer for 150 rental units and one manager unit at 545 Queen Street; staff said the change is meant to reduce vacancies and preserve affordability.
The Hawaiʻi Community Development Authority on March 4 authorized the executive director to terminate the Honua Kaha limited partnership agreement, procure a licensed property manager with HCDA control points, and pursue a longer‑term ownership transfer for the 150 rental units and one manager unit at 545 Queen Street (TMK 2-1-031-021).
Chief Financial Officer Derek Susaki summarized the staff recommendation, saying the proposal would give HCDA greater control over property management while working through the licensing requirement by contracting a licensed property manager. "The reason for that is to reduce the vacancies and maintain affordability," Susaki said, adding HCDA would set rental rates and retain active oversight.
The motion to authorize those actions was moved and seconded and carried on roll call. The clerk announced the motion passed with eight yes votes and one excused member. No members of the public provided testimony on this item during the meeting.
Staff will proceed to procure a property manager and develop the steps needed to effect the ownership transfer; the board did not set a detailed timeline for the transfer during the meeting.
