Board of Directors

W. David P. Carey, III

Director Non-Executive Chairman of the Board

David Carey was appointed by the Board to serve as non-executive Chairman on April 3, 2020. David Carey is presently the managing partner of an investment fund and is working on various real estate and other investment projects. He previously was the President and CEO of the Outrigger Enterprises Group, a Hawaii -based, full-service lodging and hospitality company that owned, managed or had under development more than 35 hotels and resort condominiums representing over 8,000 lodging units in Hawaii, South East Asia, Guam and the South Pacific with roughly 4,000 employees. Mr. Carey was also responsible for the project concept, entitlement and development of Waikiki Beach Walk in Waikiki, which consists of hotels, condominiums, time shares and over 80,000 square feet of retail including several top -performing restaurants. Mr. Carey has a B.S. in electrical engineering from Stanford University, a J.D., cum laude, from Santa Clara University, and an M.B.A. with distinction from Santa Clara University. Mr. Carey moved to Honolulu in 1982, and was an attorney specializing in corporate and real estate law at Carlsmith, Wichman, Case, Mukai and Ichiki. He joined Outrigger in 1986 as EVP and general counsel, and became president in 1988 and CEO in 1993. The company was sold in 2016. He served on Outrigger’s advisory board for the past three years. Mr. Carey participates in a variety of community boards and government task forces. He is a director of the James Campbell Company LLC, the Foundation for the Asia-Pacific Center for Security Studies, the Hawaii Business Roundtable, and a trustee of Punahou School. He is the Chair Emeritus of the Chamber of Commerce of Hawaii Military Affairs Council (MAC) and member of various organizations including Air Force Civic Leader Program, Chief Executives Organization, Hawaii State Bar Association, Urban Land Institute and the Young Presidents Organization.

Linda M. Assante

Director Chair, Compensation Committee

Linda M. Assante is a recently retired Managing Partner of Jasper Ridge Partners, where she led the real assets team which has responsibility for investment strategies in real estate and natural resources. She was a member of the firm’s investment, portfolio construction, and valuation committees. Prior to joining Jasper Ridge Partners in 2008, Ms. Assante was a Principal with The Townsend Group, where she constructed real estate investment portfolios that included primary funds and co-investments. Previously, Ms. Assante was at J.P. Morgan where she was Head of West Coast Real Estate, Lodging & Gaming Investment Banking. Ms. Assante serves on the Board of Directors of the Pension Real Estate Association Foundation, The Swig Company, and Terreno Realty Corporation. Ms. Assante is a member of the Board of Trustees of Lafayette College. Ms. Assante earned a BA in Economics and Business from Lafayette College.

Stephen B. Hansen

Director Chair, Audit Committee

Stephen B. Hansen is a retired Equity Partner and Managing Director of Clarion Partners, one the largest and most well -respected real estate investment management firms. He was a member of its Executive Board responsible for managing a business with $42 billion of assets under management. In his leadership role, he was involved with business strategy and planning, corporate management, compensation, recruiting and developing professionals. Throughout his tenure, Mr. Hansen was a Senior Portfolio Manager accountable for investment performance and client satisfaction. He has served a wide variety of pension funds, insurance companies, foundations and endowments and sovereign wealth entities worldwide. Mr. Hansen is also a member of the Board of Directors of the University of Colorado Foundation (Investment Policy Committee). He previously served on the Board of Directors of Unico Properties (Chair, Compensation Committee), University of Colorado Real Estate Foundation (Audit Committee), and he is past Chairman of the Board of Clarion Partners Property Trust. Mr. Hansen holds a B.S. in Business from the University of Colorado Boulder and an M.B.A. in Finance from Golden Gate University in San Francisco. He is also a member of the University of Colorado Real Estate Center International Advisory Board.

Pamela K. Hamamoto

Director Chair, Nominating & Governance Committee

Pamela K. Hamamoto is a Stanford University Distinguished Careers Institute Fellow, a program that allows executives and other professionals to explore multiple pathways for future career or life opportunities. Previously, she served under President Barack Obama as U.S. Ambassador to the United Nations in Geneva from 2014 until 2017. Prior to that, Ms. Hamamoto worked as an investment banker for Goldman Sachs and Merrill Lynch in New York and California. She was also a strategic planner for Hawaiian Telcom in Honolulu. Ms. Hamamoto began her working career as a civil engineer at PG&E in San Francisco. She is a board member of Stanford’s Clayman Institute for Gender Research, and of Ploughshares Fund, a global peace and security foundation that works to reduce nuclear weapons and to build peace in regions of conflict where nuclear weapons exist. She also serves on the Global Leadership Council of the United Nations Foundation and on the Steering Committee of the Leadership Council for Women in National Security. Ms. Hamamoto earned a B.S. and an M.S. in Civil Engineering from Stanford University, and an M.B.A. from UCLA’s Anderson School of Management.

Elizabeth (Liz) Holland


Elizabeth (Liz) Holland is the Chief Executive Officer (CEO) and General Counsel of Abell Associates, a 75-year old private real estate company founded by her family based in Chicago, Illinois that is active in the development and management of retail and office properties. She has been deeply involved in real estate asset management for the past 25 years. Ms. Holland is also the CEO of Consortial Technology, LLC a real estate software company. Prior to joining Abell Associates, Ms. Holland was a senior staff attorney with the National Bankruptcy Review Commission. Previously, she was a restructuring and business organization attorney with the law firm Skadden, Arps, Slate, Meagher & Flom in New York, and before that, was a fixed income portfolio manager at Brown Brothers Harriman & Co. also in New York. Currently, she is an independent board of director of VICI Properties, Inc., and a trustee of the Federal Realty Investment Trust. Ms. Holland is also a member of the International Council of Shopping Centers, the Real Estate Roundtable, and the Urban Land Institute. Ms. Holland earned a BA from Hamilton College and a J.D. from Brooklyn Law School.

T. Michael May

Director Chair, Nominating & Governance

T. Michael May retired as President and Chief Executive Officer of Hawaiian Electric Company in 2009. He served as Chief Executive Officer of Hawaiian Electric Company for 14 years of his 17 years with the company. Prior to Hawaiian Electric Company, he held successive financial and executive management positions at Management Assets Group, Caterpillar Inc., Gould Inc. and Rockwell International. Mr. May currently serves on a number of boards for business and renewable energy companies in Hawai'i, including Avalor and American Electric, and is involved in a number of energy start-up companies in Hawai'i and the Mainland USA. He is active in a number of community organizations including the boards of the University of Hawai'i Foundation (Chair), and Aloha Council of the Boy Scouts. Mr. May holds a B.S. in Industrial Engineering from the University of Mississippi and an M.B.A. from the College of William & Mary.