SANDS OF KAHANA
IMPORTANT MESSAGE
Aloha Fellow Owners,
I hope this letter finds you well and enjoying the beauty of our Sands of Kahana Vacation Club. As we approach this year's annual owners' meeting on August 15, 2024, I want to personally reach out to you to provide updates on our resort and express the importance of your participation, even if you cannot attend the meeting in person. Additionally, I would like to request your vote for the two candidates nominated by the Nominating Committee to fill the two open director positions in this year’s Board election, i.e., Aaron Baker and Rick Ruiz.
Last year, I told you the choice to hold our annual owners' meeting during the summer months is a testament to the progress we have made over the years because, prior to 2012, our governing documents mandated that these meeting be held in March. And the year 2023 was to be the first year we held our annual meeting during the summer. Then, just days before the meeting (on August 8, 2023), a deadly wildfire tore through historic Lahaina Town devastating the lives of both residents and visiting tourists as more than 2,000 homes and business were destroyed in a matter of hours (including historic Front Street). With the strength and resilience of Lahaina’s local community in mind, I could not think of anything more fitting than to set our meeting date once again on the third Thursday in August. Echoing what I said last year of an August meeting date, this milestone is truly exciting and demonstrates not only our commitment to accommodating owners who visit at different times of the year, but also our resort team’s resilience and perseverance in the face of the daunting task to rebuild Lahaina.
Furthermore, I want to express my heartfelt appreciation for your unwavering dedication and commitment to our shared goals. It is through your collective efforts and passion that we have achieved remarkable milestones and overcome challenges together. This includes opening our doors to displaced Lahaina residents in the hours after the fire, and securing disaster relief funding for housing them until they could find other local accommodations. As your President, I assure you of my commitment to foster an environment that encourages innovation and continuous learning, allowing us to adapt to changing times, embrace new challenges, and explore emerging trends. With resilience and determination, we will navigate these waters and seize opportunities for the benefit of our community.
I understand that rising inflation continues to be a concern for many, impacting costs across various sectors. While the Board and Management Company continue to use all available tools to mitigate maintenance fee increases, we cannot completely insulate the resort from the effects of these broader economic trends. However, I am pleased to share that as the disruption in global supply chains eased last year, the impact on costs is lessening, and our proactive steps to secure favorable rates and lock in materials continue to yield positive results throughout this year. While we continue to notice increases in insurance premiums, property taxes, and IT services investment, most expenses currently remain within or slightly below budgeted estimates, which is great news.
Beach erosion is another important issue that we are actively addressing. As your representative on the Kahana Bay Steering Committee (KBSC), I am deeply involved in finding sustainable solutions to protect our beautiful Kahana Bay. The KBSC, consisting of nine local resorts, joined forces last year with the West Maui Taxpayers Association (WMTPA), a lobbying group that effectively promotes business-friendly initiatives in our area. Unfortunately, just as Maui County committee meetings began to occur in early August 2023 to discuss KBSC’s mitigation proposals the devastating Lahaina wildfires occurred, shifting the Mayor’s office and county council’s focus 100% on developing and implementing short-term and long-term housing and rebuilding strategies for Lahaina. Rest assured, we continue to explore options for moving our mitigation proposals forward! Options include re-engaging the Army Corp of Engineers and exploring additional programs with the guidance and assistance of the University of Hawaii. I remain confident our efforts will ultimately yield positive results, ensuring the long-term well-being of our owners.
Now, I would like to share why I believe Aaron Baker and Rick Ruiz are the ideal candidates for election to the board. While serving as the chairman of the Nominating Committee, I had the privilege of speaking to each of the owners that expressed an interest in serving on the board this year. Although our conversations were brief, I can genuinely say they are wonderful owners and their hearts are in the right place. I can also personally say that I was moved not only by the value that Aaron Baker has added to the Board since he began serving in 2022, but also by the level of relevant professional experience, e.g., 21 years of property management experience, that Rick Ruiz would bring to the board if he were elected. Rick is also a pillar of his local community (e.g., past regional Board Member & President of the National Assoc. of Hispanic Real Estate Professional (NAHREP)) and will serve our resort well if elected.
Your vote is crucial, and I urge you not to forget to send in your proxy today. Your participation in this year's owners' meeting will contribute to shaping the future of our resort and ensuring its continued success.
Once again, I express my heartfelt gratitude for your support and dedication. Let us embrace the opportunities and challenges that lie ahead, working together to create a remarkable experience for all Sands of Kahana Vacation Club owners.
Mahalo,
Glenn Stockton – President, Sands of Kahana Vacation Club
REMEMBER TO VOTE TODAY!!
CLICK ON THE 2024 PROXY FORM ICON
AT THE TOP OR BOTTOM OF THIS WEBPAGE,
DOWNLOAD, PRINT AND SIGN THE PROXY AND EITHER
(1) FAX IT TOLL-FREE TO 1-877-588-6329, OR
(2) EMAIL IT TO [email protected].