June 20, 2013
By Jenna Blakely
Questions are still lingering regarding the decision by Kaneohe Ranch Co. LLC and the Harold K.L Castle Foundation’s to put its entire commercial real estate portfolio up for sale, including what it may mean for the landowner’s nonprofit arm, the Harold K.L. Castle Foundation.
Attempts to immediately reach the foundation following the announcement, first reported by PBN, were unsuccessful, but President and CEO Mitchell D’Olier and Executive Vice President and COO Terrence George addressed that question in a newsletter emailed to Kailua residents.
The answer, they write, is that any potential sale will not alter the mission of the Harold K.L. Castle Foundation in any way.
“If anything, the sale of the property would only increase the foundation’s financial strength and allow it to contribute even more to the community,” D’Olier and George wrote.
The foundation will also keep its offices at Castle Junction on the Pali Highway, they said.
“For 106 years, the Castle family and the Harold K.L. Castle Foundation have significantly shaped the Windward side, making key investments in Kailua town while helping to preserve Kawainui and Hamakua marshes, protect the Hamakua Hillside in its natural state in perpetuity, improve schools, help students become the leaders of tomorrow, reclaim and protect our precious nearshore marine resources, and generally just helping the beautiful beach community of Kailua grow sensibly for the benefit of our neighbors, friends and families,” the letter states. “The Foundation’s work will continue whether or not the sale of any property goes forward.”