Lili‘uokalani Trust invests in market
The Queen Lili‘uokalani Trust, a private charitable trust serving orphaned and destitute Native Hawaiian children, announced its recent acquisition of the improvements at Kona International Market on Luhia Street in Kailua-Kona. The trust previously held only the ground lease underlying these improvements. The property features 34,000 square feet of commercial space, a covered performance stage and food court.
The trust intends to reposition the property as part of a strategic, long-range master planning effort of its West Hawaii land holdings.
“With this new managed asset, we reaffirm our commitment and belief in the long term economic resilience of the Kona community,” said LeeAnn Crabbe, vice president for development.
The acquisition marks another step the trust has taken in recent years to reinvest in its Kailua-Kona real estate holdings in order to increase value for its beneficiaries. In addition to the Kona International Market, the trust also actively manages several other properties in the Kona Industrial Area as well as the Makalapua Shopping Center and the newly built Kepoʻokalani Interpretive Center.
The Kona International Market’s many events, shops and services remain open for the community’s enjoyment daily from 9 a.m. to 5 p.m. For more information about the market, visit www.konainternationalmarket.com.
The trust was established by Hawaii’s last ruling monarch, directing that the queen’s lands be utilized to serve and provide for needy keiki. The core trust assets include some 6,400 acres of land, the majority of which is in Kona. Outreach to beneficiaries is delivered through the Queen Lili‘uokalani Children’s Center, which is supported by revenues and income derived from the trust’s real estate holdings and investments.
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