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2013 May 9 CTY - Hawaii High Hotel Room Rates - Shoppers walk around the Royal Hawaiian Center in Waikiki. HSA photo by Bruce Asato
Kamehameha Schools said Tuesday it will seek a buyer for the buildings, but not the land under, Royal Hawaiian Center, Waikiki’s largest shopping center.
The trust gave no estimate of the expected sale price, but will reinvest proceeds into its $9 billion endowment.
Kamehameha Schools officials said the decision by its trustees was largely driven by a desire to reduce risk in its portfolio of assets and help ensure perpetual funding of its core mission to educate Native Hawaiian children.
