AMO[R] spotlight.(ACCREDITED MANAGEMENT ORGANIZATION )

To earn the ACCREDITED MANAGEMENT ORGANIZATION (AMO) designation from IREM, a company must demonstrate a high level of performance, experience and financial stability, and have a CPM[R] in an executive position. AMO firms must meet high ethical standards and other stringent requirements, proving their value to the industry.

Destination Maui, Inc. (DMI) was originally a part of the management service division of one of Maui's most respected accounting firms, Ronald A. Kawahara & Co., CPA's, Inc. In 1974, DMI was established as a separate entity and has since grown to include more than 30 major projects and more than 18 full-time employees.

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Ronald A. Kawahara, president and executive CPM for DMI, is also a certified public accountant (CPA), a professional condominium association manager and a licensed REALTOR[R]. He is a firm believer in community service and has served as president of many organizations, including Maui Chamber of Commerce and Maui United Way. JPM talked to Kawahara about his company and what the AMO accreditation means to them.

How did you get started in property management?

In the early 1970s, our CPA firm provided accounting and fiscal services to homeowner associations. Because of our accounting background, we are well versed in certain accounting, management and control procedures that can benefit property management.

Destination Maui, Inc. was originally part of your accounting firm. Why did you establish DMI as a separate entity?

At that time, most Maui condominiums were fairly new and the services required were mostly fiscal in nature. However, as the industry evolved, and more laws and regulations passed, the nature of property management services expanded. As a result, DMI was established as a separate entity to focus on property management issues that went beyond accounting.

Destination Maui is the only AMO firm on Maui. What are the benefits of being AMO accredited?

DMI mandates continuing education for all of its property managers and on-site managers. The AMO designation is the culmination of DMI's commitment to be the best property management company on Maui. In our marketing, we point out that we are the only Maui-based property management firm to hold the AMO designation. Our brochure features the AMO designation and discusses the benefits of belonging to IREM and our adherence to its Code of Ethics.

Aside from the AMO accreditation, what makes Destination Maui, Inc. unique?

Several years ago, we decided to limit the accounts assigned to each property manager to no more than six full-service accounts. In addition, we hired sufficient back office staff. The results have been extraordinary in terms of client satisfaction.

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What real estate trends are you seeing in Hawaii today?

Hawaii is experiencing the same downward trend in real estate housing starts and pricing as the mainland. According to our local Multiple Listing Service, the numbers of sales, as well as the median prices of condominiums and single-family homes, are declining on a month-to-month basis. As on the mainland, Hawaii real estate inventories are up, mortgages are harder to come by and probably the worst job is a developer with unsold inventories.

In my opinion, this downward pressure on real estate will last through early next year. This is typical of all of the economic cycles in Hawaii. Generally, we expect that real estate prices will average 3 to 5 percent growth over the long term.

Company headquarters location

Destination Maui, Inc. is headquartered in Wailuku, Hawaii.

Number of employees

18

Date the company become an AMO firm

April 1,1998

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