Doug Howard - C306
Welcome to the new Wavecrest Owners Forum. It is a place for the open exchange of ideas and opinions. We openly welcome your dialogue on your choice of topics. There is only one rule here. There are no anonymous postings or comments allowed. We are about respectful sharing of ideas or comments - not posting anonymous comments that may contain a morsel of truth on a plate full of assumptions.
That other blog allows you to post half-truths and innuendo that usually is not backed up with facts. I suspect that the same individuals are posting again and again but since they do not identify themselves we are left to guess. However, their writing style does not vary so one can follow an assumption that only a few are playing loose with the facts and hoisting the banner of blind subjectivity on anyone that reads the blog.
I was personally offended by some comments that some members of the board were either stupid or unethical. I reluctantly joined the board in March out of a sense that maybe I could help with a project or two. The board members are homeowners who donate a hefty chunk of their time and expertise to help run Wavecrest. They really do have the best interests of each of us in mind with every decision that is made. Each board member is a homeowner first and a board member second. Why would a board member or a homeowner for that fact, make decisions that were not in the best interest of all concerned? After all the purpose of the board is to look out for the best interests of the association as a whole and provide a stable management platform to meet those goals. We should all be proud of the legacy of this board and their accomplishments of placing us on firm financial footing.
Wavecrest is in excellent financial condition. Yes, we have all made a sacrifice in terms of our capital contributions through maintenance fees. We have just endured an unprecedented run up in utility costs ever experienced in our recent lifetime. We were pefectly positioned financially to weather this unforseen consequence and hold the line on maintenance increases for 2009. Since when did keeping the fees unchanged for two years become a sinister plot of overcharging?
There has never been overcharging. The excess of income over expenses goes into the reserve fund. Your board has a 20 year plan for the maintenance and replacement of all capital items that must be funded either by having adequate reserves or by special assessment. Hawaii law now requires that the reserve be at least 50% funded and they strongly suggest 100% funding. The Hawaii State Legislature has threatened to move the funding requirement to 100% almost every year. The board has adopted a reserve study that is well thought out and considerate of replacement of numerous items along with the maintenance of this entire facility for the next 20 years on a rolling schedule.
Your board has built up the reserves to where we were at the 100% funding level. The decision to forego any maintenance increase simply means that the funding percentage will drop as more of the monthly revenue is applied to actual expenses incurred during the year. Not because of overcharging.
I was not here during the last special assessment for the roof but competent financial oversight is important to try and eliminate the need for a special assessment in the future. Nobody wants their maintenance fees to go up. However, Hawaii in general and Molokai specifically is an expensive place to do business.
I am not trying to make the assumption that any board is perfect and always makes the choices that resonate with owners all of the time. I will make the case that all decisions are honestly made with our best interests in mind.
I hope that we can all learn to respect each other and present our different opinions and ideas in the hope that we can make Wavecrest a place we are all proud to call our home!
Mahalo for your Kokua!!
Doug Howard C306
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