NANIWA UPDATES

LUCKY WE LIVE AT NANIWA GARDENS

DECEMBER 4, 2009

Condominium maintenance fees are rising

BYJANIS MAGIN
PACIFIC BUSINESS NEWS

An overwhelming majority of the condominiums on PBN's list this week raised their maintenance
fees over the past year by more than 10 percent, according to PBN research.
The rankings of the Related list state's largest condominiums were little changed from last year
with the 1,848-unit Kukui Plaza in downtown Honolulu once again topping the list, followed
by the 1,397-unit Moana Vista and the 1,375-unit Executive Center
Two new Projects were added – the multi phased 540-unit Puu Aiii condo community in Kaneohe,
th
ranked 20 and the newly constructed Country Club Village 6 in Salt Lake, with 515 units, ranked No. 22.
Those additions knocked two other projects off the list - the 352-unit Century West in Salt Lake
and the 352 unit Harbor Lights in Kahului on Maui. Of the top 19 buildings on the list, only one – the
Waikiki Banyan - did not raise its maintenance fee between 2008 and 2009, keeping the monthly
charge at $240.
But higher utility and insurance costs helped push other buildings to implement increases that
ranged widely from 10 percent to more than 50 percent.
The highest increase was at the Moana Vista project on Kapiolani Boulevard where fees
jumped by more than 58 percent, to $444, up from $280 on the low end, and to $2,033 on the high end,
up from $1,281 in 2008.
Kukui Plaza's monthly fee, on the low end, went up 14 percent to $262, from $229, while fees on the high end rose
23.5 percent to $688, up from $557.
Executive Centre's low-end fee jumped 39 percent to $385, up from $276 last year, and the Ala Moana
Hotel's low-end fee went up 38 percent to $630 from $457.
Some of the smaller increases – less than 20 percent were at Queen Emma Gardens which raised fees by15 percent,
and Discovery Bay in Waikiki, which went up 13 percent. The smallest fee increase in the top 19 condos was 10 percent
at the Terrazza, Cortebella, Las Brisas and Tiburon communities in Ewa Beach.

Mahalo The Naniwa Gardens Management Team 12.11.2009

The above article which appeared in the Pacific Business News on December 4, 2009, says it all regarding the
direction of maintenance fees. The Naniwa Management Team and the Naniwa Gardens staff worked very
hard this past year to ensure that we performed well above the average Hawaii condo and that is the reason
we will have no fee increase in 2010. We will continue to work in the same manner in the years to come to
keep future fee increases when necessary to a minimum. The Management Team will continue to be proactive
in finding ways to ensure that this is the case as the majority of owners have made it clear that maintaining
our maintenance fees at the lowest possible level while maintaining our property in a professional manner is
what they want.

Our starting point for 2010 will be the installation of the sensor activated lights in all foyers at Naniwa Gardens.
This project will begin shortly with the installation of the new foyer lights first in the foyers of all Board
Members, so that they can keep a close eye on the performance of these new lights, followed by each Tower
in the same sequence we completed the Tower Elevators. We have been testing this type of lighting for
several months and we will soon begin to realize further reduction in our energy bill each month. When we
are certain the foyer lighting is working well, we plan to follow this project with the installation of same type
of lighting in our rear stairwells. Our main concern as always will continue to be the health and safety of all of
our residents.

Our deck resurfacing project has a slight issue in that the contractor needs additional material to complete the
project and will return as soon as the material arrives on island.

Unfortunately, there will be a slight delay in completing the garage elevator, by about five days as incorrect
call buttons were shipped and the arrival of replacements required rescheduling the State of Hawaii inspection.
We now expect the garage elevator turnover to occur on December 29, 2009 instead of December 24, 2009.
We will all be happy to see this project come to a successful end. There is still some fine tuning going on with
our Tower elevators, but these are normal installation adjustments many of which are required as a result of
State inspections.

As you know by now, enough of your neighbors volunteered to plan the decorations and holiday party, so the
tradition will continue. For those entering the lanai decorating contest, please have your lanais completed by
this Sunday evening as the judging will begin unannounced by individuals who do not own or rent at
Naniwa Gardens.

Please contact the Resident Manager if you have any questions regarding anything contained in this notice.

Mahalo The Naniwa Gardens Management Team 12.11.2009