Maui Remembers: Kamehameha Schools releases message to ‘ohana on Lahaina global settlement
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The Maui News
WAILUKU--Kamehameha Schools' (KS) CEO Jack Wong shared a message to Kamehameha Schools 'ohana today about Kamehameha Schools' decision to join the Lahaina global settlement, including the details, impacts, reasoning and next steps.
¯ Position statement: Our joining this settlement ensures the restoration of Lahaina's people and community, protects Ke Ali'i Pauahi's trust, and offers future opportunities and hope. We made this decision as a neighbor, land steward, water conserver, education provider, and community partner in Lahaina.
¯ Pathway forward: Recently, the parties to these lawsuits, including KS, entered mediation, resulting in a tentative global settlement to resolve all claims against all parties for a total of about $4 billion. From this total, the amount allocated to KS is $872.5 million, which will be paid in installments.
¯ Conditions of agreement: KS' agreement to the settlement is contingent on KS agreeing with the other parties on terms of the final documents; KS receiving its regulatory approvals from the State Attorney General, State Probate Court, and Internal Revenue Service; and KS receiving a fully signed Memorandum of Agreement (MOA) between KS, the State of Hawai'i and Maui County.
¯ Impact of settlement: KS plans to spread settlement payments over time and use its insurance proceeds to minimize program cuts. In addition, under the MOA, the State will provide support for Native Hawaiian education projects and for KS' development of its properties to enable KS to generate returns to reduce the impacts of this settlement on Native Hawaiian education.