Kailua residents feel intensely protective about their hometown, even if most of them own only the tiniest piece of it, at the most. Kaneohe Ranch is one of the major landlords, however, and when its plans for redeveloping 15 acres in the town center were discussed in long-running community meetings, the community turned out in force.

That was about 10 years ago, and the master plan that was drawn up in that process has been roughly two-thirds executed. Kailua is much more a shopping attraction than it once was. The added traffic still draws complaints from the kamaaina, but the vision of a more walkable town center that the community largely endorsed is well underway.

That is why word of the landlord contemplating a property sale threw many people into an uproar. They wondered what might happen next to Kailua, and whether they would have any say in it. Although nothing yet is set about the future of the holdings — executives say that decision is three to six months off — the reaction sends a signal that any future owner who might envision more changes should expect close scrutiny by City Council overseers and by the neighbors themselves.

The beneficiaries of Kaneohe Ranch’s development proceeds include both the descendants of the original landlord, Harold K.L. Castle, and the foundation that bears his name, established in 1962. It has played an enormous role in supporting Windward community initiatives and those with a statewide reach; the most recent figures from 2011 indicate that 38 percent of Kaneohe Ranch profits went toward the foundation’s grantmaking.

And that mission is going to continue, regardless of the verdict on Kailua properties, said Mitch D’Olier, president and CEO of both the Harold K.L. Castle Foundation and Kaneohe Ranch. Executives continue to explore their options on the business end, he said, but that was one assurance he was eager to offer now.

The options under consideration are aimed at providing the best return on investment for both the estate heirs and the foundation, he said. They range from maintaining the status quo, putting Kaneohe Ranch mainland properties up for sale, finding new buyers for the Hawaii real estate or some combination, with the proceeds redirected to other investments.

Kailua residents have watched with some alarm as the town’s core has been overhauled. Feedback Kaneohe Ranch drew from community surveys indicated Kailuans wanted to find more of what they need close to home rather than it being mainly a bedroom community. New retailers came in, from Whole Foods to Target, as well as boutique-type merchants.

Complaints have centered on the number of tourists who now make a beeline for Kailua, and along with the draw from neighboring communities, traffic has noticeably increased.

About 70 percent of the redevelopment is now done, but there are still properties to be renovated or replaced along Hekili Street and Hamakua Drive, D’Olier said.

The capacity for more business is always there, but the town’s ability to manage much more traffic is limited. Any new owners would not be held to a master plan they did not devise, but there are the physical constraints of Kailua’s streets, and policymakers will have to make sure they are observed.

Of course, any company that becomes a principal landowner in this town would be well advised to look over the master plan. In a place where the sense of ownership is so deeply ingrained, where residents seek to keep a rein on change, the best course would begin with listening to what the neighbors say.