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Managers of the pension fund for state employees plan to add homes, a hotel, retail and restaurants at two Kaanapali Resort golf courses owned by the fund, as a way to increase the financial return on the assets.
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Following two unsuccessful attempts to sell a pair of Maui golf courses (Royal Kaanapali and Kaanapali Kai) acquired from a company that couldn’t pay back a loan, the state’s Employees’ Retirement System is weighing a makeover plan that involves adding condos and a hotel while shrinking and reconfiguring golf space.
That could be a sound idea due to declining interest in the sport across the nation, especially among millennials. Among the complaints: too time-consuming, too expensive. Here’s hoping the $373 million plan turns the property into a better investment for the retirement fund, which covers some 120,000 active and retired state and county workers.
Remain vigilant against cyberattacks
It’s reasonable to breathe a sign of relief that most Hawaii institutions seem to have emerged unscathed by the global cyberattacks of recent days. More than 150 countries were hit, which makes Hawaii’s escape all the more amazing. But don’t exhale. The state’s top IT officials say such”ransomware” attacks are serious: The attacker can lock up data and demand some kind of ransom before restoring access to it.
It has struck here before, even if this time major computer systems were safely patched against the malware threat. So let’s not get sloppy.