One of Hawaii’s largest private landowners and the master developer of Oahu’s “second city” of Kapolei will have a new leader next year.

James Campbell Co. announced Wednesday that its president and CEO, Richard Dahl, will retire at the end of this year and turn over leadership of an operation that has a $2.8 billion real estate portfolio spread over 15 states and Washington, D.C., to a veteran insider, Tim Brauer.

Brauer, 51, is currently executive vice president of real estate investments for Campbell Co. and has spent about 22 years at the local firm that prior to 2007 was known as the Estate of James Campbell. His appointment will be effective Jan. 1.

Brauer spent an initial 18 years at the company in Hawaii and San Francisco in information technology, marketing, public relations and asset management positions before he left in 2006 for other pursuits that included being managing director of commercial real estate brokerage firm CBRE in Wisconsin and Illinois. He rejoined Campbell Co. in 2012.

T. Michael May, a Campbell Co. board member who chairs the board’s governance committee, said in a statement that Brauer has a long history with and deep knowledge of the company and has been instrumental in its growth as a national private real estate investor and operator.

“We are very pleased to have Tim Brauer take on the role of president and CEO,” May said. “The board is confident that he has the skills and experience to lead the James Campbell Co. to even greater success in the future.”

Dahl, 64, joined Campbell Co. in 2010 after serving as president of Bank of Hawaii’s parent and later chief financial officer of Dole Food Co. In addition to his current position of president and CEO, Dahl is chairman of the Campbell Co. board. He will remain on the board as nonexecutive chairman upon retirement.

May said the company is grateful for Dahl’s leadership. “Richard has guided the James Campbell Co. through a period of continued growth and success in Kapolei and across the country,” May said.