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Newsletter |
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| Volume 2, Issue 4 -- Fall 2002 |
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FROM THE MANAGER’S DESK
Aloha from sunny Maui, Jim.
On with the news….
BOARD OF DIRECTORS MEETING
The next Board of Directors meeting will be held in San Diego on October 19th. The October meeting centers mostly on budget and financial issues for the coming year.
Owners with topics they would like to include for discussion are encouraged to attend or relay these issues to any board member, or to myself.
The following Board meeting will be held on property on 1/17/03. The annual homeowner’s meeting will be held on Maui the next morning at a location to be determined. The annual homeowner’s party will be held poolside the evening of January 18th.
THERE GOES THAT RUBBER TREE!
During the week of July 15, the giant rubber tree that once protected our pool from flying golf balls was removed.
At the same time the tree was coming down, a high quality polyester net was going up. The net is custom fitted and attached to existing coconut trees. The finished look is nearly invisible.
The area has since been landscaped with increased planters, plumeria trees, and lawn planted where the tree once stood. A new fence was installed to hide the gas tank and pool equipment.
The total project came in under budget at about $23,000. The tree removal cost about $8,000, the net and installation came to about $12,000. This project was totally funded through reserves, and will not require an assessment.
Over the past five years, there has probably been about a thousand hours of planning and discussion on this issue. It took 280 man-hours to take it down. This was a huge job, and it’s great to have it behind us.
LEASED FEE INTEREST UPDATE
On July 12, the Kaanapali Royal received notice from First Hawaiian Bank of their intent to sell the leased fee interest of twelve units, which they control. Notice is filed because the AOAO has a first right of refusal to purchase on the same terms of the accepted offer. An affirmative vote of 75% of the membership is required to exercise this right.
The Board of Directors determined that it would be in the best interest of all owners for the AOAO to gain control of these leases. It is the intent of the Board to make certain these fee interests remain available for individual purchasers.
I am happy to report that we have received over 80% positive response from the ballot sent to all homeowners.
A Board of Directors meeting was held on August 29th, allowing Management Consultants to proceed with financing arrangements and to act as agent to arrange purchase of other outstanding fee interests. It was also decided to resell the fee interests at a price of $85,000 (assuming current interest rates) to those able to purchase within 90 days after the AOAO purchase. This resale price was set to include all acquisition fees and risk factors such that other homeowners bear no costs. The resale price will be reviewed and adjusted as needed on a regular basis.
MAUI MOUSE INVASION
Following a recent CNN report, I received several calls from concerned owners with questions about our mouse population explosion.
It seems that heavier than usual winter rains caused a bumper crop of grasses in our hills. These grasses fed an exploding mouse population until they started to dry out. The mice then came out of the hills looking for new food sources causing what many say is the worst infestation in 20 years. Every area on the island was affected, and all of the islands are having similar problems.
There was about a three-week period where we handed out sticky traps like Halloween candy. In the office we were catching 3-4 daily. A record was set one morning with five of the little buggers piled high on a single trap.
I don’t know if the County efforts finally started working or if it just ran the course. In any event, the problem seems under control at this point.
THE FAIRWAY SHOPS
Whaler’s Realty and Aloha Toy Co. are now open for business, and Maui Dive Shop and City Financial have signed leases to open soon.
Reliable sources tell me they are in discussion with a gym and spa, a hair and nail salon, a furniture store, and a diner (breakfast, lunch and dinner).
Additional information is available on line at http://www.abprop.com/.
COOLING TOWER REPLACEMENT
Later this year, the cooling towers in both of the underground air conditioner plants will be replaced. Cooling towers are used to cool down the central refrigeration chillers, much like the radiator in a car.
Equipment has been ordered, with plans for replacement in November. However, our aging equipment might not cooperate with that schedule.
The central AC units will be shut down for approximately one week for this work. We will provide as much notice as is possible before any shutdown.
TREE WORK SCHEDULED
We received many positive comments after the removal of five giant African Tulip in the courtyard earlier this year. The trees were removed for safety reasons.
An additional five African Tulip trees on the makai side of the B, C, and P buildings will be scheduled for removal later this year.
BICYCLE STORAGE
Abandoned equipment left in the bicycle storage areas will be donated to charity. If you have bicycles stored in these lockers… PLEASE IDENTIFY THEM SOON!
CHANGES IN THE WIND
It is always good to see new faces on property…please welcome our new owners.
F303 – Jim and Marietta Gillogly
H101 – Alex and Brigitte Klaib
L101 – Leon and Nora Prokuski
M202 – Anthony and Ellen Chan
P202 – Bill Trujillo /Alex Trujillo
Q301 – Terry and Janet O’Brien
And a fond aloha to old friends...
F303 – Bob and Judy Jennings
H101 – Carol Colley
L101 – Dick and Diana Peacock
M202 – Kip and Anne Norris
P202 – Dorothy Vitale
Q301 – Dr. Conti
REMINDER
Our new key policy went into effect on March 1st. A "Unit Access Authorization Release & Indemnification Agreement" was mailed to all owners in February. For those who have not returned a release, a copy is included with this mailing. Please do not expect the office to release a key without this form on file.
RECYCLING
Starting next week we will be recycling glass, in addition to newspaper and plastic.
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