Below is a short summary on how the Villages Association is structured and operates. The Villages at Mauna Lani is a statutory condominium regime or project established and governed by the Condominium Project Act, Chapters 514A and 514B, Hawaii Revised Statutes, as amended. The Association was formed June 12, 2001. Our official name is the Association of Apartment Owners of The Villages at Mauna Lani or, for short, The Villages AOAO. The project consists of 130 fee simple units on approximately 29.9 acres at the Mauna Lani Resort, District of South Kohala, County of Hawaii. All Apartment Owners at The Villages constitute the Association and one becomes a member of the Association upon acquiring title to an apartment. The purpose of the Association is to provide for the operation, management, maintenance, and care of the Association's common property.
Governing Documents: The Association's governing documents are recorded in the State of Hawaii Bureau of Conveyances, and consist of The Villages at Mauna Lani Declaration of Condominium Property Regime, commonly referred to as the Covenants, Conditions and Restrictions (CC&R's), and the Bylaws, which are the guidelines for the operation of the Association. The Bylaws define the duties of the various offices of the Board of Directors, the terms of the Directors, the membership's voting rights, required meetings and notices of meetings, and the principal office of the Association, as well as other specific items that are necessary to run the Association as a business. Both documents are posted on the Resource Center page in the Bylaws and CC&R's folder.
Annual Meeting: The annual meeting of the Association (owners) is held in early March. At that time elections for Board positions are held, and annual reports from the Board and staff are given, and the certified financial statements from the previous year is presented. After the meeting, we socialize over good food catered by the Association.
Board of Directors: The Association's governing body is the Board of Directors, consisting of nine directors, three of whom are elected by the owners each year at the Association's annual meeting for three-year terms. The Board oversees all aspects of the Association's business. All decisions are made by a majority vote (5 votes) of the Board of Directors. The Board of Directors elects the Association's President, Vice-President, Secretary, and Treasurer at its organizational meeting immediately following the annual meeting.
The meetings of the Board of Directors are open to all owners, except when the Board goes into executive session to consider personnel and legal matters. The limitation and restrictions of the powers of the Board of Directors are set forth in the governing documents. The minutes of its meetings (except for executive sessions) and the annual meetings of the owners are posted on the Resource Center page in their respective folders.
House Rules: Pursuant to our Bylaws, the Board of Directors adopted Rules and Regulations for The Villages. The Rules were adopted to promote the peace, comfort, health, safety, security and well being of all who live or visit here. Condominium living requires mutual respect and the rules and policies adopted by the Board are designed to provide direction with regard to such matters as parking, vehicles, noise, pets, pool use, etc., and to protect all persons at The Villages from any annoyances or nuisances caused by the improper use of The Villages.
In addition, rules have been established with respect to exterior changes to the apartments to maintain the aesthetic value and integrity of The Villages, thereby protecting the market value of your investment. Violation of the rules could result in legal action by the Board. The House Rules and policies are posted on the Resource Center in the House Rules/Board Policies folder.
Accounting: The Association's financial statements are presented on the accrual basis of accounting in accordance with generally accepted United States accounting practices. Under the accrual method of accounting, revenues are recognized when earned and expenses are recognized when incurred. This provides a more accurate determination of the financial condition of the Association at any point in time and is a better method for multi year tracking of capital reserves credits and deficiencies. Our financial statements are audited annually by an independent certified public accountant and the audited financial statements are posted on the Resource Center page in the Budgets/Audited Financial Statements folder.
Management Agent. Pacifica Realty Management, Inc. is our management company, retained by the Board as an independent contractor for the purpose of managing the operation of our property. Pacifica provides services such as collection of fees and assessments, supervision of subcontractors, soliciting bids for subcontracted services, providing financial statements, personnel, payroll, preparing the budget, general administrative services as well as a general clearing house for problem solving, communications with owners and the Board of Directors, and to serve in an advisory capacity. The management company reports directly to the Board.
Property Manager: The property manager is responsible for managing the overall daily operation of The Villages, coordination of all maintenance and construction, oversight of the irrigation system, supervision of our employees, and oversight of our vendors. In addition, the property manager has numerous administrative tasks, and serves as the initial contact for owner and renter concerns and complaints.