By now it is no secret around the Ilikai building that at the last Board meeting on January 28, 2010, the Board voted to re-bid the managing agent contract currently held by Hawaii First and that Hawaiian Properties would bid for this contract. It is community knowledge around here that there have been concerns expressed about Hawaii First, especially regarding the Anekona delinquencies. I am no fan of Hawaii First, as those who read this blog have certainly noticed by now.
But Hawaiian Properties as a potential replacement?!
I am sure Hawaiian Properties is a great and highly reputable company. I have absolutely nothing about them themselves. But that’s not what it is about.
I’ve already written on this subject. See, for example, my posting on the Elephant in the Room. So I won’t repeat myself.
The concerns – very serous concerns – are about the governance and management of the Ilikai AOAO and the trend of where this is going. The concern is that commercial interests of some business (the companies of the Tokioka Family that is) that owns one unit in the entire building of 1,009 condominiums (or several units at most if under different names) have so much influence over the AOAO Board of Directors and now may be taking over the financial management of the AOAO as well. In my opinion, this will sink our AOAO into even more potential conflicts of interest and situations when the governance and management of the AOAO may end up being controlled by these outside commercial interests. Haven’t we had enough of this type of situations with Anekona?
As said, I have nothing against the Tokiokas and their Hawaiian Properties themselves, I am sure they are reputable. That’s not what it is about. It is about the governance and management of our Ilikai AOAO. I wrote and sent the following letter to the AOAO Board of Directors and the AOAO legal counsel, Milton Motooka, regarding these concerns. Click on the link to view.
Please also note that in my letter I explicitly ask the Board: “If there are any factual misrepresentations, I urge you to let me know ASAP at your earliest convenience. If you think my concerns are ungrounded, I urge you to let me know why. I look forward to hearing from you.”