Not affiliated with the AOAO or its counsel.
🚨Urgent 🚨 🚨Lease Rent Challenge🚨
Click Here for "Official" AOAO website at www.CanterburyPlace.net (currently no info available)
Challenge the New Canterbury Lease Rent
The AOAO’s new agreement increases our ground lease rent by more than 15×. We believe this deal is unfair, illegal, and void. Hawaii law and the Master Lease entitle us to independent lessee counsel like we had for the Sandwich Lease, and mandatory arbitration to obtain a fair valuation. We must act now to enforce our rights under Hawaii Law and the Master Lease.
CLICK IMAGE BELOW TO SEE AFFIDAVIT WITH ALL EIGHT VIOLATIONS
EIGHT! REASONS THIS DEAL IS FLAWED
THE MORE I DIG, THE MORE I RESEARCH, THE MORE I FIND.
NO WONDER THE AOAO REFUSES TO PROVIDE DOCUMENTS.
THERE ARE NOW FOUR IDENTIFIED STATUTORY VIOLATIONS AND FOUR LEASE VIOLATIONS. HERE ARE THE FOUR REASONS WHERE I BEGAN:
1. No Independent Lessee Counsel (HRS § 514B-151(c))
The AOAO is a sublessor – Hawaii law requires independent counsel for the lessees, like we had for the Sandwich Lease renegotiation.
- HRS § 514B-151(c) states that when an association is a lessor or sublessor, it shall appoint independent counsel to represent lessees in rent renegotiations.
- The AOAO has been a sublessor for eight unpurchased sandwich leases since 2019, retaining a substantial monthly profit on those units.
- No independent lessee counsel was appointed for the master lease rent reset.
2. Mandatory Arbitration Was Skipped
The Master Lease says: if no agreement is reached 90 days before the new term (April 2, 2025), rent SHALL be determined by arbitration. Our right to fair and impartial evaluation has been waived against all lessees, without even asking us.
- The Master Lease requires written agreement on fair market value at least 90 days before the new term (April 2, 2025) or the rent "shall be determined" by arbitration.
- Arbitration is intended to protect us from such an outcome. No written agreement was reached by the deadline, yet negotiations continued and an agreement was signed anyway.
- Any authority the AOAO had to negotiate expired when the deadline passed; only an arbitration panel now has the power to set the rent.
3. The Valuation Is Grossly Inflated
The deal assumes a land value of $24 Million. Initial Monarch estimate October 2024 $19.5 Million. The Tax Assessor values it at $8 Million.
- The agreed rent assumes a $24 million fee simple land value at 6% per year, even though the Kongs own only a 46.1754% undivided minority interest.
- Standard appraisal practice, the IRS and case law in many other states recognizes that fractional, non-controlling interests must be discounted for lack of control, marketability, liquidity, and encumbrances.
- The AOAO accepted a value that ignores this, forcing us to pay for the experts' mistakes. We are entitled by the Master Lease to a fair and impartial valuation to set our rent.
4. No Authority for Retroactive Rent
- The lease required agreement by April 2, 2025 or mandatory arbitration. Failure of Lessor to agree does not entitle Lessor to retroactive rent.
- There is no statute or lease provision authorizing retroactive rent.
- If Lessor anticipates retroactive rent, no incentive to get an agreement.
- Lessor delayed until almost December to get agreement with nothing to lose and no incentive to sell.
Click Here to See Affidavit with All EIGHT Violations
WHO IS LEADING THIS EFFORT?
A Canterbury Place resident owner for 11 years with 4 decades of real estate and legal experience.
- Former Navy Real Estate Director (6 Years): Acquisition, management, leasing and disposal of all Navy real estate in Hawai'i (Pearl Harbor, Marine Base Kane'ohe, PMRF Kaui'i, etc.).
- Federal real estate executive (11 years) in senior positions with the FDIC, U.S. Army Corps of Engineers, and the VA. Worked on bank failures from 2010 to 2014 at the FDIC. I was responsible for closing banks, evaluating nationwide loan and real estate assets acquired from failed institutions, and liquidating those assets. I was selected by FDIC to attend the two-year Southwest Graduate School of Banking master’s program in banking at SMU, from which I graduated with honors
- Practicing attorney with a strong real estate background for nearly 20 years before entering federal service; an active member of the Bar in Florida since 2002 and District of Columbia since 1993, and inactive in several more states.
- On graduation from law school 1993, I leveraged my background with clients including two banks and private lenders for loan workout and real estate asset liquidation.
- Licensed real estate broker in Hawai'i for the 11 years we have lived at Canterbury Place. - I am also a licensed real estate broker in Florida, where we owned a multimillion-dollar real estate agency with 40 agents. I have been an actively and continuously licensed Real Estate Broker in multiple states for over forty years. My wife Janine has had a real estate license longer than I have. Represented FNMA, FHMLC, and multiple lenders during the 2007 financial crunch in the acquisition, management, evaluation and liquidation of distressed properties.
- From 1985-1990, Commercial Credit Officer and Credit Manager for a billion-dollar regional commercial bank. Responsible for all credit analysis, asset evaluation and loan workout functions team during the period including the 1987 financial crisis.
- Retired from government 2024. Currently assisting fellow disabled veterans with VA claims as a VA Accredited Attorney.
DISCLAIMER:
I am not a Hawai'i lawyer. This site does not provide legal advice. Its sole purpose is to inform and educate fellow lessees and organize support so we can use all the tools available, hire independent Hawai'i counsel to represent us as required by law, and get fair lease valuation by arbitration, as required by our Master Lease.
RICK GREEN - 24A. CLICK FOR MORE ABOUT ME AT MY PERSONAL WEBSITES
I VOLUNTEERED MULTIPLE TIMES
I have had questions about why I waited so long to come forward. In the 12/8/2025 President's message Mr. Steinberg called this "sleeping on my rights." You will have to ask Mr. Steinberg why I was not accepted as a volunteer when I offered in January and again in September, before the "agreement" (which costs me $883 monthly and I have never seen) was executed.
Take a look at the email exchanges with Mr. Steinberg and decide for yourselves who is not telling you everything. He went so far as to state in the 12/8/2025 President's Message, "This process was open and ongoing for most of 2025. Mr. Green had the opportunity to raise objections before the agreement was signed." It was clear I would not conspire with the Kong Lessors against my neighbors, so I was kept in the dark for most of 2025. I found out in September they were blowing it and stepped up and volunteered again.
I also told him in 2023 Commercial litigation was a losing proposition. He even agreed with me then, and apparently changed his mind and continued to accept bad advice and blow a million dollars on ill advised Commercial litigation.