The following letter went out from the CEO of Kamehameha Schools, Dee Jay Mailer.
I am sending this advance notice regarding news from Kamehameha Schools to ensure that you hear about this important announcement directly from me: Completing the strategy related to our shopping centers that we announced in October with the Royal Hawaiian Center, we are announcing today our intent to offer for sale the buildings and other improvements at Hawai‘i Kai Towne Center and Windward Mall in Kāne‘ohe while retaining ownership of the underlying land.
This decision is part of our broad, ongoing strategy to proactively grow and perpetuate the endowment that supports Kamehameha Schools’ educational mission. As with our Royal Hawaiian Center offering, this action is aligned with our 2000-2015 Strategic Plan, which calls for active stewardship of our lands — whether for commercial, agricultural or conservation purposes — while prudently optimizing the value and use of Kamehameha’s financial and nonfinancial resources in support of our educational mission.
Proceeds from the potential sales will be reinvested in the endowment in support of our many educational programs and services currently in place, as well as those envisioned for 2015 and beyond that will serve many future generations of our lāhui. To this point, you should know that Kamehameha Schools has spent more than $2.6 billion on education in Hawai‘i over the last 10 years. Our educational programs, collaborations and other activities serve more than 47,000 learners and families each year, and Kamehameha serves as the largest private funder of public education in Hawai‘i.
Again, as with our proposed sale of the buildings at Royal Hawaiian Center, if we are successful in our offer to sell Windward Mall and Hawai‘i Kai Towne Center, it will not be a sale of our lands, but rather a sale of the buildings and other improvements on our lands.
Parents, mahalo for your trust in allowing us to teach and nurture your keiki and your families, and Alumni, mahalo for proudly representing the good and industrious men and women Pauahi so loved. We are blessed by your ongoing support of Pauahi’s legacy and educational mission!
Dee Jay Mailer
Chief Executive Officer