Former Ward chief gets new job

By Andrew Gomes
Advertiser Staff Writer

Mitch D'Olier, chief architect of Victoria Ward Ltd.'s urban retail village development, will assume the top jobs at Kai-lua's dominant land-owner, Harold K. L. Castle Foundation, and its asset management arm, Kane'ohe Ranch Co.

D'Olier ceased being president and chief executive officer of Victoria Ward last week when Ala Moana Center owner General Growth Properties Inc. completed its $250 million purchase of the company and its 65-acre Kaka'ako estate.

A Castle Foundation director since 1994, D'Olier fills the president and chief executive roles that had been vacant for a year since longtime chief Randy Moore left to become a teacher at Central Middle School.

The Castle Foundation together with the Castle Family Trusts, which is also managed by Kaneohe Ranch, owns about half the land under Kailua's business district.

Among D'Olier's priorities will be to guide development and management of those assets.

"Windward O'ahu boasts many outstanding assets, from strong education resources to an emerging small-business network to a distinct beach community, and I plan to work closely with residents and businesses to balance all of these factors as we make plans for Kane'ohe Ranch's assets," he said in a statement.

The Castle entities since 1992 have been buying back ground leases to renovate or redevelop property and then manage the improved assets, which grew to include more than 15 mostly retail/mixed-use properties as of 2000.

Several Castle ground leases are set to expire in the next four years, providing more opportunity for reshaping the commercial mix of property in Kailua.

D'Olier will also guide charitable giving. The Castle Foundation had reported assets of $178 million last year, and awards an average of $7 million a year to Hawai'i organizations. The asset value of the Castle Trusts is private.

D'Olier moved to Hawai'i from Iowa in 1972 and joined the local law firm Goodsill Anderson Quinn & Stifel, where he later became a partner and management committee member.

He became president and chief operating officer of Hawaiian Airlines in 1991, helping lead the severely troubled airline through massive financial restructuring. He left in May 1993, four months before the carrier filed for Chapter 11 bankruptcy.

During his tenure at Hawaiian, D'Olier became a Victoria Ward director and was elected president and chief executive officer in July 1993.

Reach Andrew Gomes at agomes@honoluluadvertiser.com.