Nearly two weeks after University of Hawaii President M.R.C. Greenwood announced she would be retiring in September, the university’s Board of Regents is deciding the best way to go about looking for her successor.

“Before developing the search process, we need to define where we are and where we want to go,” Chairman Eric Martinson read from a statement at the board’s meeting Thursday. “It is the first step in conceptualizing the type of person who should lead UH and will be the foundation for all of our decisions. In doing so, the board will exercise careful consideration in organizing a process that is inclusive of all of our stakeholders.”

Martinson said regents have no timeline.

“Obviously, we’re going to work as expeditiously as possible, but we’re going to be diligent in the process,” he told reporters after the meeting. “This is the most important decision of the board.”

While Martinson said there will be no gaps in service, he said it’s too early to say whether an interim appointment will be made.

The search to pick Greenwood in 2009 took about seven months.

That search process involved a 12-member advisory committee to vet candidates and recommend a list to the board. The university also paid an executive search firm $100,000 to advertise the position and seek potential candidates.

This time, Martinson said the regents will “control this search,” but said hiring a search firm is a possibility. He said the board will hold meetings in coming weeks to determine the next steps, “one of which will be the formulation of a selection committee that will be comprised of board members.”

Earlier in the meeting, regent Artemio Baxa, whose term on the board ends next month, encouraged the board to look to the university’s “backyard” and “even among the Board of Regents” for candidates.

Martinson said none of the 15 sitting regents will be applying for the position.

“I think the responsibility from the board is to find the best candidate to serve the needs of the organization,” Martinson said. “Certainly, we need someone who is sensitive to Hawaii’s business style and Hawaii’s culture, and we’re going to find the best candidate who fits that need as well as the overall need of the presidency.”

Greenwood, 70, announced her retirement May 6, saying she wants to spend more time with family and deal with health issues. Her contract was set to expire July 31, 2015.

Her announcement came amid mounting criticism from lawmakers nearly a year after UH became embroiled in the so-called “Wonder blunder” from a botched Stevie Wonder concert that was to have been a benefit for UH athletics but ended up costing the school more than $200,000 in an alleged scam.

Still, Martinson thanked Greenwood for her service, saying, “All said, I think your contributions to the university were meaningful, and you’re certainly going to leave the university in a better place — academically and otherwise.”