Hawaii 2025 Regular Session

Hawaii Senate Bill SR196 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	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.
2	2
3	3	THE SENATE S.R. NO. 196
4	4	THIRTY-THIRD LEGISLATURE, 2025
5	5	STATE OF HAWAII
6	6
7	7	THE SENATE
8	8
9	9	S.R. NO.
10	10
11	11	196
12	12
13	13	THIRTY-THIRD LEGISLATURE, 2025
14	14
15	15
16	16
17	17	STATE OF HAWAII
18	18
19	19
20	20
21	21
22	22
23	23
24	24
25	25
26	26
27	27
28	28
29	29	SENATE RESOLUTION
30	30
31	31
32	32
33	33
34	34
35	35	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.
36	36
37	37
38	38
39	39
40	40
41	41	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
42	42
43	43	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
44	44
45	45
46	46
47	47	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
48	48
49	49
50	50
51	51	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
52	52
53	53
54	54
55	55	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
56	56
57	57
58	58
59	59	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
60	60
61	61
62	62
63	63	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
64	64
65	65
66	66
67	67	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,
68	68
69	69
70	70
71	71	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
72	72
73	73
74	74
75	75	BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Chairperson of the Hawaiian Homes Commission.
76	76
77	77
78	78
79	79
80	80
81	81
82	82
83	83	OFFERED BY: _____________________________
84	84
85	85
86	86
87	87	OFFERED BY:
88	88
89	89	_____________________________
90	90
91	91
92	92
93	93
94	94
95	95
96	96
97	97
98	98
99	99
100	100
101	101	Report Title:
102	102
103	103	Prince Kuhio Plaza; Department of Hawaiian Home Lands; Lease