[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6688910,"mediaKeyId","2171492-77358baec625a4e8aa3c4629accc7f22","parentId",2171492,"title","Trustees approve committee split, investment policy and sponsorships; several legislative proposals fail","audioSeconds",2546,"startMs",3393000,"endMs",5939000,"viewUrl","/Search/View?dp=1&key=2171492-77358baec625a4e8aa3c4629accc7f22&start=3393&end=5939","thumbnailUrl","https://assets.pipeline.soar.com/2171492-77358baec625a4e8aa3c4629accc7f22/thumbnail_3393000.jpg","articleUrl","/articles/6688910/Hawaii/Trustees-approve-committee-split-investment-policy-and-sponsorships-several-legislative-proposals-fail","mediaUrl","https://secure.pipeline.soar.com/6688910-11cc2ad899cd272234e51dee7f9f4c02/orig.mp4?Expires=1771158796&Signature=RMhBJr5iFkjezwZLBU8JYHDpFJ1wL-etvKlMWPwtkoDuFJJwYdLG5eagRPQ0CyiT1X-JjN277U4nuXgOxIkx9OdAQFWbvqb~arv1dDDmRHmyyxbMEv3Z~P2~YvX0LslHhh0rG0l0-z8FbFcQsBVZRjYEKIod~6W681cPCWLvMlx2HDEMx2Ig1iEYENq~ywyTPjxowBcgKXaiwlDUxsPuvHWZ16zEaFBJpPnbgGMDTM-SEQXBOUIeXskNQt12e19KmkXbCdvq7hTHroZnLf-I7meHflZymzAF32S3hWdyNp-7Go2lCAhRHPs33qnj-2dBR6sC56cFycvyOVWQVflsiA__&Key-Pair-Id=KUT5TJCACFTXG","author","Hawaii - Task Force Created by Act 170","date","2025-01-01T05:05:36.157Z","article","The Office of Hawaiian Affairs Board of Trustees on Oct. 31, 2024 took a series of procedural and policy votes: it approved a bylaw revision that splits the Committee on Resource Management into the Committee on Budget and Finance and the Committee on Investment and Land Management; adopted changes to the Native Hawaiian Trust Fund investment approach; approved inclusion of a proposed OHA budget bill in the 2025 legislative package; approved a measure changing island burial council composition; and authorized multiple event sponsorship disbursements. The board declined to adopt a proposed bill that would exempt OHA from the state Sunshine Law and declined a proposal to vest trustee salary review authority in an OHA‑appointed commission.

Highlights and what passed

• Committee restructure (bylaw revision): trustees voted to split the Committee on Resource Management into two committees: Committee on Budget and Finance and Committee on Investment and Land Management. The motion passed with seven yes votes and one abstention.

• Native Hawaiian Trust Fund investment policy statement: trustees approved moving from a manager‑of‑managers model to a non‑discretionary investment consulting approach and delegated authority to administration to implement transitions, including terminating manager agreements and moving selected investments into passive index funds. Vote: 8 yes, 0 no (recorded as eight yes votes).

• Budget measure inclusion: the board's joint committee recommended approval of a proposed OHA budget bill for the 2025 legislative package; trustees approved the measure (7 yes, 1 abstention on the initial committee vote when taken up by the board earlier in the meeting). Trustees later authorized ministerial edits to all measures prior to final submission.

• Island burial council composition (OHA 3): the board approved a measure to exclude large landowners (defined in the materials as owners or lessees of 100 acres or more) from serving on island burial councils in a representative capacity for property and development interests; vote recorded as seven yes votes and one abstention.

• Event sponsorships: the board authorized multiple sponsorship disbursements, including (selected approvals recorded in the meeting): $5,000 to Pahae'o Kamehameha (convention), $15,000 to Friends of Iolani Palace (honoring Kalākaua fundraiser), $15,000 to Ekōmunea Nui (Eho'o Waiwai'e), $5,000 to Kealakehe Community Association (centennial), $5,000 to Nā Kua ʻĀina O Waimānalo (Mākālehua O Waimānalo), $5,000 to Nalehu Theater (18th annual event), and other island trustee/board sponsorships. Each sponsorship vote passed with recorded aye votes in the roll call.

What failed

• OHA 1 (Sunshine Law exemption): a proposal to exempt the board from portions of the state's Sunshine Law failed after trustees and public commenters debated transparency and operational flexibility. The record shows the motion failed (outcome: motion fails). Several public commenters, including Maui County Council member Keani Rollins Fernandez, testified in opposition citing concerns about reduced transparency.

• OHA 2 (salary commission): a proposal to have an OHA‑appointed salary commission or otherwise change trustee salary review failed on the board floor (motion failed by tie or insufficient majority in recorded roll call).

Why trustees split on legislation: trustees who supported the Sunshine Law exemption and related proposals argued the board needs flexibility to act quickly on statewide fiduciary matters and investments; trustees and many public commenters who opposed the exemption argued that greater transparency is needed to rebuild public trust after earlier audits and accountability concerns.

Next steps: administration will carry forward ministerial edits to measures approved for submission to the 2025 legislative session and will bring implementation details for the investment policy changes and committee structure to the appropriate committees. Legal and staff clarifications will be provided on sponsorship rules distinguishing board of trustee sponsorships from CEO‑initiated sponsorships.","mediaType","Video","parentTitle","OHA Board of Trustees Meeting - Oʻahu - 10/31/24","oneSentenceSummary","The Office of Hawaiian Affairs Board of Trustees approved committee and investment policy changes and authorized multiple sponsorships on Oct. 31, 2024, but declined proposed legislative measures that would have exempted the board from Sunshine Law and changed trustee salary review.","taxTitle","Task Force Created by Act 170, Executive , Hawaii","taxId",26072,"location","Hawaii","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6688915,"OHA trustees approve broad real estate strategy, defer decision on Hakuone and use of LLCs",2995,353000,3348000,"/Search/View?dp=1&key=2171492-77358baec625a4e8aa3c4629accc7f22&start=353&end=3348","https://assets.pipeline.soar.com/2171492-77358baec625a4e8aa3c4629accc7f22/thumbnail_353000.jpg","/articles/6688915/Hawaii/OHA-trustees-approve-broad-real-estate-strategy-defer-decision-on-Hakuone-and-use-of-LLCs","https://secure.pipeline.soar.com/6688915-846692351ea6948fce694765799bb322/orig.mp4?Expires=1771158796&Signature=nVuxOMWbisY7q2lWLvWIyfQ5UhgTx6L3SgaPtIZlzPF11Jx25q-PbRawfrCBOPQOLoUWt1KznsjqYaZeZhVN-f6ty0uICPyC-Hx32h8yIhEOD6Gapr4aM2XYFWEVXhdc92zbwYI8YbbfvAg1Rc15P~bIhIcKaPsAUXC055Uk-w7K-S-rTDTwxo1YNo4uUyHFoPj5tPQ4ih58e4PW-HD6A1ZZvm7D7MOhNUopMEH~d5hsBjRuKDXOswmpoIT3F3PFJGYv6fcNA64C8J0EYdgSmHyoplUrSXUr5iha5AgQPo~OezHyzczGWXYCzW-10Fim4aIL7~DhAixZGJpUQDQB6g__&Key-Pair-Id=KUT5TJCACFTXG","The Office of Hawaiian Affairs Board of Trustees on Oct. 31, 2024 approved a proposed real estate strategy addressing how OHA will acquire and manage investment and non‑investment properties, but the board deferred a final decision on the future of Hakuone and the use of LLCs to hold individual assets.

Consultant presentations and written materials before the board described the strategy as a comprehensive framework that includes best practices, asset allocation, prudent investment standards, land management, and efforts to balance economic and cultural values. Paul (presenter) told trustees the action item also responds to findings in the March 2023 state performance audit that said OHA lacked a coherent real estate strategy. \"What is presented today is board approvals of a comprehensive real estate strategy that will include, among other elements, sections dealing with best practices, asset allocation, prudent investment standards, land management, balancing economic and cultural values,\" Paul said.

Why it matters: the strategy guides how OHA will manage property that funds programs for Native Hawaiians and steward culturally significant lands. Trustees and staff said final answers on Hakuone and LLC governance are central to the operating model and business plan, so the board voted to approve most strategy elements while postponing those specific decisions.

What trustees approved and deferred: trustees voted to approve the proposed strategy items for investment and legacy lands except for several clauses tied to using LLCs and one full strategy tied to \"Hakuone\" (described in the materials as unlocking development value). During deliberations Paul clarified the board would approve strategy items such as increasing financial returns, improving performance and reporting, generating non‑financial outcomes, and reducing certain operational risks, but that the board would defer: Strategy 1 tactic 6 (investment lands), Strategy 3 tactics 2 and 3 (investment lands), Strategy 4 in its entirety for investment lands, and legacy‑land Strategy 4 tactic 1 until further deliberation and legal review.

Trustee concerns and public comment: Trustee Trask objected to the process and raised legal and procurement concerns, saying she has forwarded alleged violations of the state open‑meetings law and procurement irregularities to state and federal reviewers. \"I'm letting you know now that I have forwarded my concerns both to state and federal agents,\" Trustee Trask said, asserting repeated waivers of the 72‑hour posting requirement and raising questions about the presence and contracts of consultants named in earlier agenda materials.

A beneficiary who spoke during public comment, Germaine Myers, disagreed with Trask's characterization and urged civil discussion. \"This is not a violation of Sunshine Law,\" Myers said, and added she was concerned by what she described as threats of litigation and by trustees using personal interests in their public roles.

Follow‑up and next steps: trustees asked staff and counsel to clean up the action language so the record matches precisely what was approved and what was deferred. Trustees asked for a legal review and further analysis of LLC structures, including an analysis of the Waimea Valley LLC operating model to show how a future LLC might differ from past arrangements. The board directed staff to return with more specific legal and operational information in a later workshop or meeting. The motion passed with a roll call showing eight trustees in favor and one opposed; the notation in the record shows Trustee Trask voting no.

Ending: Board members and staff repeatedly emphasized that deferring decisions on Hakuone and LLC governance was intended to give the board time to examine alternatives — a single‑purpose LLC with separate governance, a joint venture, a master ground lease, or an outright sale — before committing to a structure that would shape OHA's future real estate business model.","The Office of Hawaiian Affairs Board of Trustees voted Oct. 31, 2024 to approve a set of real estate strategies for managing investment and legacy lands but delayed decisions on Hakuone and on whether to use limited liability companies for holding assets.","actionData","errors"]

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Trustees approve committee split, investment policy and sponsorships; several legislative proposals fail

OHA trustees approve broad real estate strategy, defer decision on Hakuone and use of LLCs