Labor Department Clears $16.2 Million Property Sale Involving Hawai‘i Pacific Health Retirement Plan

The U.S. Department of Labor has granted an exemption allowing the Hawai‘i Pacific Health Retirement Plan to sell property at 888 South King Street in Honolulu to Straub Clinic & Hospital for the greater of $16.247 million or 110% of its appraised value at the time of sale. Brave Behind the Lenz/Shutterstock

The U.S. Department of Labor has granted a federal exemption allowing the Hawai‘i Pacific Health Retirement Plan to sell a Honolulu property to Straub Clinic & Hospital for at least $16.247 million, following a review designed to protect the pension plan and its participants.

The exemption, known as Prohibited Transaction Exemption 2026-05, took effect August 21, 2026. It permits the retirement plan to sell property at 888 South King Street to Straub, a wholly controlled subsidiary of Hawai‘i Pacific Health whose employees participate in the pension plan.