First the good news, the new property managers at Po’ipu Kai represent a 500% improvement and have taken a huge stress off our Board. I have transferred all the Board projects to our new management except for the balcony/lanai project. I just thought it would be too much to dump on them just starting out. For questions about the lanai revitalization project, call me 808 634 8535.
The new mailboxes are almost done, the entry ways painted, the landscapers are working, we are saving big money on our water bills, trees have been trimmed, the Po’ipu Kai pool/jacuzzi is up and running, the tennis courts are buzzing with players and a few restaurants have opened, including Kalapaki Joe’s. The rotten beam replacement is almost done (up to building eight,) but we haven’t tackled the third floor balconies yet. We have put in new backflow valves (at great expense) so that the County will give us building permits.
The bad news is that the rotten beams and posts and the reconstruction of our lanai/balconies are going to be hugely expensive. We paid for the rotten beams and posts out of the reserves. The new decks: waterproofing, re-flashings, soffit replacement, tile grouting and sealing and the new railings and new gutters are going to cost us about two million dollars!
It turns out, we aren’t the only ones stuck with this type of damage. Many other associations have had the same issues with their lanai/balconies.
So here is the choice: you will soon get a letter for an opportunity to vote for either 1 or 2.
1. A 25 thousand dollar special assessment OR
2. Approve the Board to go out and get a loan and pay it off with about a 8% a month added on our monthly dues.
Our Board urges a YES vote on the loan.
Please don’t kill the messenger, after all, this place is forty years old.