
What Can We Do?
We can demand scrutiny of this proposed project that threatens
to destroy the rural nature of Kawela Bay and surrounding areas.
There should be an up-to- date assessment on the effects of such
a development on our community. No development should be allowed
without community input!
The Facts Regarding Kawela Bay
WHO: Oaktree Capital Management owns Turtle
Bay Resort and is guiding the development of Kawela Bay. It is a
self-described “Vulture Capital” fund headquartered in Los Angeles.
It specializes in investing in "troubled companies in 'inefficient'
markets" that it can restructure and sell for a profit.
Oaktree has a history of fighting environmental and community
groups over development.
In 2002, Oaktree fought a coalition of more than 100 environmental
and community groups that were opposed to a massive coastal development
in Playa Vista, California, which included paving over the last
wetland in the entire county. Phase 2 of this development has been
held up in court because the development plan did not adequately
address methane gas deposits in the area ("Court
Rules City Erred in Passing Part of Playa Vista Impact Report." West LA Business Monthly, November, 2005).
In 2005, Oaktree was planning to develop 86 townhouses in Queens,
NY, on
a site known to be full of toxic contamination, including
mercury, lead, arsenic and PCBs. When the community found out about
the toxins and Oaktree’s inadequate provisions to contain them,
Oaktree flipped the property to a new owner instead of cleaning
it up themselves.
WHAT: Turtle Bay/Oaktree submitted a preliminary permit
for subdivision of over 700 acres of land around Kawela Bay, some
of which is formerly agricultural and protected land. They have
also started the approval process to expand Kamehameha Highway at
Kuilima Drive and recently purchased an additional 400 acres of
land from Campbell Estate mauka of Kamehameha Highway.
WHEN: Turtle Bay submitted their preliminary subdivision
proposal to DPP in early December and a decision could come any
day. The shoreline certification was proposed in January and is
good for one year only. This indicates development is very soon
to come.
WHY: Oaktree wants to make as much profit as possible
before they inevitably sell the Turtle Bay property. Oaktree has
almost no permanent presence in Hawaii, and has no commitment to
our land or our community.