There’s nothing like the threat of losing something precious to intensify appreciation for it, and to jolt complacency into action. So it is that the University of Hawaii must sharpen its strategy to monetize two valuable land parcels near its fledgling West Oahu campus, a mere few months after state lawmakers tried to take land ownership away from UH.

At issue are two Kapolei parcels: 500 urban-zoned acres makai of the H-1 freeway, one-sixth of which the campus occupies and the remainder next to the upcoming rail transit project; and 991 acres of agriculture-zoned land mauka of H-1.

The 500 makai acres, in particular, hold much leasing potential for near-term development, which means crucial revenue to benefit the financially strapped Kapolei campus. But pity UH-West Oahu — it is land rich but cash poor, and its leaders are floundering to devise a coherent strategy on how to move forward.

The flip-flopping over UH-WO land-use policy in the past year has made it painfully clear that, essentially, there is no policy now.

As recently as last October, UH-WO announced a major shift from its original concept of selling or leasing lands around its Kapolei campus to pay for operations. Apparently, that decision came after a $12 million deal to sell 39 acres to the Catholic Church fell through, unsettling UH decision-makers. Now, UH President David Lassner is floating a thin conceptual map as a "strategic plan."

Unfortunately, a truly visionary plan for UH-West Oahu’s land holdings is sorely lacking — and that’s detrimental to the promising young campus. The four-year UH-WO college serves a crucial need for the region, spurring workforce development and providing higher education opportunities, particularly for Native Hawaiians.

When the new campus opened in fall 2012, its enrollment shot up 22 percent from its previous offerings out of humble portables; the next year, enrollment grew another 19 percent. It now has nearly 2,700 students, with 20,000 projected in the next 20 years or so.

Adding to the area’s energy will be Hawaii Tokai International College, set to open in April on six acres purchased from UH-WO for $6 million.

Surely, any number of UH’s high-priced administrators should be able to leverage UH-WO’s growing demand into a vibrant university village, to launch partnerships with private developers to masterplan a college town that serves students’ needs for four Rs: research, residence, retail and recreation.

Envision a "live, work, play" district for the college crowd.

Surely such a lively concept is possible without garish overbuilding. Focusing on mindful development densities within the 500 urban makai acres — while keeping the 991 mauka acres for agricultural uses — would help maintain balance.

And with the 11,750-home Ho‘opili masterplanned community likely emerging to UH-WO’s immediate east, concentrating on the campus’ urban parcel makes sense. With that site abutting two rail stations, now is the prime time to start working with an experienced land developer with an educational eye — Kamehameha Schools, perhaps? — to explore the potential offered by transit-oriented development.

Money problems have plagued UH-WO since its 2012 debut, with construction change orders driving the $170 million project some $14 million overbudget.

The collapse of earlier land deals caused the state to put up $48 million in general obligation bonds in 2010 to pay for the first phase of construction.

Debt service and rising operational costs were among factors that had UH-WO asking this year’s Legislature for another tens of millions of dollars.

Public universities deserve state support, of course, but their administrators also must do what they can to wisely pursue opportunities that arise. It’s imperative that the UH Board of Regents, when it discusses UH-WO next week, pursues a clear policy for a substantial blueprint for leased-land development to benefit UH-WO.

The attempted land grab by legislators earlier this year should be a wake-up call for UH-WO and UH system officials. Any revenue derived from the two Kapolei parcels should rightly go to UH-WO’s operations and upkeep — but a visionary, assertive strategy needs to emerge to dissuade lawmakers from reaching for the lands again next session.