THE SENATE S.R. NO. 196 THIRTY-THIRD LEGISLATURE, 2025 STATE OF HAWAII SENATE RESOLUTION URGING THE DEPARTMENT OF HAWAIIAN HOME LANDS TO REPEAL, REVOKE, OR BUY OUT THE REMAINDER OF THE LEASE OF THE Prince Kuhio Plaza AND RESELL THAT LEASE AT FAIR MARKET VALUE TO A NEW ENTITY THAT AGREES TO PROPERLY MAINTAIN THE property.
THE SENATE S.R. NO. 196
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
THE SENATE
S.R. NO.
196
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
SENATE RESOLUTION
URGING THE DEPARTMENT OF HAWAIIAN HOME LANDS TO REPEAL, REVOKE, OR BUY OUT THE REMAINDER OF THE LEASE OF THE Prince Kuhio Plaza AND RESELL THAT LEASE AT FAIR MARKET VALUE TO A NEW ENTITY THAT AGREES TO PROPERLY MAINTAIN THE property.
WHEREAS, the Department of Hawaiian Home Lands is the fee owner of the real property located at 111 East Puainako Street, Hilo, Hawaii, upon which sits the Prince Kuhio Plaza, the largest enclosed mall on the island of Hawaii; and WHEREAS, the Prince Kuhio Plaza serves as a vital commercial and economic hub for residents of Hilo and surrounding communities, providing retail, dining, and entertainment options that support local businesses and employment opportunities; and WHEREAS, the lessee of the land, Ho Retail Properties I, Ltd., has failed to properly maintain the property, resulting in significant deterioration of the plaza, including persistent leaks, structural concerns, and declining conditions that negatively impact tenants and visitors; and WHEREAS, due to inadequate maintenance and management by Ho Retail Properties I, Ltd., multiple stores have vacated the plaza, reducing the vibrancy and economic stability of the property and creating an adverse effect on local commerce and employment; and WHEREAS, the poor condition of Prince Kuhio Plaza undermines the Department of Hawaiian Home Lands' mission to manage its assets for the benefit of Native Hawaiian beneficiaries, as the continued decline in property value and leasing revenue could impact the Department's ability to fund future programs and initiatives; and WHEREAS, ensuring the long-term viability and prosperity of Prince Kuhio Plaza requires proactive intervention, including the potential repeal, revocation, or buy out of the current lease to facilitate new ownership and management committed to proper maintenance and economic revitalization; and WHEREAS, a competitive resale of the lease at fair market value to a responsible entity with a proven track record in commercial property management would help restore the plaza's standing as a thriving economic center; now, therefore, BE IT RESOLVED by the Senate of the Thirty-third Legislature of the State of Hawaii, Regular Session of 2025, that the Department of Hawaiian Home Lands is urged to take immediate action to repeal, revoke, or buy out the remainder of the lease of the Prince Kuhio Plaza and resell that lease at fair market value to a new entity that agrees to properly maintain the property; and BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Chairperson of the Hawaiian Homes Commission. OFFERED BY: _____________________________ Report Title: Prince Kuhio Plaza; Department of Hawaiian Home Lands; Lease
WHEREAS, the Department of Hawaiian Home Lands is the fee owner of the real property located at 111 East Puainako Street, Hilo, Hawaii, upon which sits the Prince Kuhio Plaza, the largest enclosed mall on the island of Hawaii; and
WHEREAS, the Prince Kuhio Plaza serves as a vital commercial and economic hub for residents of Hilo and surrounding communities, providing retail, dining, and entertainment options that support local businesses and employment opportunities; and
WHEREAS, the lessee of the land, Ho Retail Properties I, Ltd., has failed to properly maintain the property, resulting in significant deterioration of the plaza, including persistent leaks, structural concerns, and declining conditions that negatively impact tenants and visitors; and
WHEREAS, due to inadequate maintenance and management by Ho Retail Properties I, Ltd., multiple stores have vacated the plaza, reducing the vibrancy and economic stability of the property and creating an adverse effect on local commerce and employment; and
WHEREAS, the poor condition of Prince Kuhio Plaza undermines the Department of Hawaiian Home Lands' mission to manage its assets for the benefit of Native Hawaiian beneficiaries, as the continued decline in property value and leasing revenue could impact the Department's ability to fund future programs and initiatives; and
WHEREAS, ensuring the long-term viability and prosperity of Prince Kuhio Plaza requires proactive intervention, including the potential repeal, revocation, or buy out of the current lease to facilitate new ownership and management committed to proper maintenance and economic revitalization; and
WHEREAS, a competitive resale of the lease at fair market value to a responsible entity with a proven track record in commercial property management would help restore the plaza's standing as a thriving economic center; now, therefore,
BE IT RESOLVED by the Senate of the Thirty-third Legislature of the State of Hawaii, Regular Session of 2025, that the Department of Hawaiian Home Lands is urged to take immediate action to repeal, revoke, or buy out the remainder of the lease of the Prince Kuhio Plaza and resell that lease at fair market value to a new entity that agrees to properly maintain the property; and
BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Chairperson of the Hawaiian Homes Commission.
OFFERED BY: _____________________________
OFFERED BY:
_____________________________
Report Title:
Prince Kuhio Plaza; Department of Hawaiian Home Lands; Lease