Kahala Nui is a Non-Profit Continuing Care Retirement Community (CCRC). Hawaii does not have adequate regulations that protect residents of CCRC, not like other states such as California.
1.The Board of Directors at Kahala Nui does not have a specific fiduciary duty to the residents per the Board of Directors.
The Board of Directors at Kahala Nui responded to residents’ questions on their fiduciary duties in 2023. The Board stated 3 fiduciary duties only and responded as follows:
•Loyalty – must act in the organization’s best interest.
•Care – must use due diligence, care and skill in fulfilling board responsibilities and stewarding the organization’s assets and resources.
•Obedience – must ensure the organization adheres to its charitable mission and purposes.
Question was asked: Do you have a fiduciary duty to the residents?
Response: The Board has a fiduciary duty to Kahala Nui as a whole and not specifically to residents.
Question was asked: We, the residents, see Kahala Nui as our home. The Board actions and non-actions indicate that it views Kahala Nui as a business, where money is the priority. What directives will you give the CEO to bring Kahala Nui to a place in which residents and employees do not feel like they are widgets in a business?
Response: The Board has a fiduciary responsibility to the organization as a whole to steer it toward a sustainable future while adhering to our mission and purposes.
2.Board of Director Lack of Transparency
Board operating policies and procedures are not available for resident review.
Board Conflict of Interest forms are not available for resident review.
3.Board of Directors (2021-2024)
Directors’ names are available on the Kahala Nui website (www.kahalanui.com). Directors last worked (2024) at these companies. Non-Profit are identified. Also, directors has no stake in Kahala Nui, so if Kahala Nui “crashes”, it does not impact them except for maybe their reputation.
•Seaside Ohana Investments
•KMH, LLP
•National Finance & Co. Ltd
•Hawaiiana Management
•Avalon Group
•Pacific Guardian Life
•Silvergate Bank
•First Hawaiian Bank
•Accuity, LLP
•Hawaii Pacific Health (Non-Profit)
•Hawaii Community Foundation (Non-Profit)
•University of Hawaii (Non-Profit)
1.The Board of Directors at Kahala Nui does not have a specific fiduciary duty to the residents per the Board of Directors.
The Board of Directors at Kahala Nui responded to residents’ questions on their fiduciary duties in 2023. The Board stated 3 fiduciary duties only and responded as follows:
•Loyalty – must act in the organization’s best interest.
•Care – must use due diligence, care and skill in fulfilling board responsibilities and stewarding the organization’s assets and resources.
•Obedience – must ensure the organization adheres to its charitable mission and purposes.
Question was asked: Do you have a fiduciary duty to the residents?
Response: The Board has a fiduciary duty to Kahala Nui as a whole and not specifically to residents.
Question was asked: We, the residents, see Kahala Nui as our home. The Board actions and non-actions indicate that it views Kahala Nui as a business, where money is the priority. What directives will you give the CEO to bring Kahala Nui to a place in which residents and employees do not feel like they are widgets in a business?
Response: The Board has a fiduciary responsibility to the organization as a whole to steer it toward a sustainable future while adhering to our mission and purposes.
2.Board of Director Lack of Transparency
Board operating policies and procedures are not available for resident review.
Board Conflict of Interest forms are not available for resident review.
3.Board of Directors (2021-2024)
Directors’ names are available on the Kahala Nui website (www.kahalanui.com). Directors last worked (2024) at these companies. Non-Profit are identified. Also, directors has no stake in Kahala Nui, so if Kahala Nui “crashes”, it does not impact them except for maybe their reputation.
•Seaside Ohana Investments
•KMH, LLP
•National Finance & Co. Ltd
•Hawaiiana Management
•Avalon Group
•Pacific Guardian Life
•Silvergate Bank
•First Hawaiian Bank
•Accuity, LLP
•Hawaii Pacific Health (Non-Profit)
•Hawaii Community Foundation (Non-Profit)
•University of Hawaii (Non-Profit)
Statistics: Posted by kirito — Tue Jul 02, 2024 11:13 pm — Replies 0 — Views 205