Hawaii real estate investment trust Alexander & Baldwin Inc. is almost done reinvesting $262 million from the December sale of its former Maui sugar plantation lands into other local properties.

The Honolulu-based company said Thursday that it paid $18 million to buy Waipouli Town Center, a 56,600-square-foot retail complex on Kauai anchored by a Foodland grocery store.

A&B used proceeds from its 41,000-acre Maui farmland sale to make the purchase.

The company faces a mid-June deadline to reinvest the Maui land proceeds into other real estate if it wants to avoid federal capital gains taxes on the sale.

A&B said earlier this month that it is on target to meet the deadline, and that purchase contracts for two neighbor island shopping centers anchored by grocery stores were slated to close by mid-June.

Previously, A&B spent about $150 million buying three industrial properties in Kapolei and the land under a Home Depot store in Iwilei.

The last sale is expected to be a roughly $90 million retail center.

ON THE MOVE

St. Andrew’s Schools has made two appointments to its Board of Trustees:

>> Karen Chang served as a senior vice president of marketing at American Express and president of Individual Investor Enterprise at Charles Schwab.

>> Lyn Utsugi led a team in management roles at Hyatt San Jose and Hyatt San Francisco and Hyatt Regency Los Angeles. In Hawaii, she served as an activity director for Manele Bay Hotel and The Lodge at Koele.

The Ritz-Carlton Residences, Waikiki Beach has appointed Regan Rosdil as its new senior sales manager. Rosdil has nearly 10 years’ experience in hospitality industry sales, including having served as a corporate and catering sales manager at other global brand hotels in Waikiki.