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Home My WebLink AboutACM Consultants, Inc Real Estate Valuation & Consulting 2073 Wells Street, Suite 100 Wailuku, Maui, HI 96793 Telephone: (808) 242-6481 Email: office@acmmaui.com June 27, 2025 Diane Nakagawa Director of Finance County of Hawaii 25 Aupuni Street Suite 2103 Hilo, Hawaii 96720 Re: Statement of Qualification and Letter of Interest - REAL PROPERTY APPRAISAL SERVICES Dear Director Nakagawa: Pursuant to your Notice to Providers of Professional Services, we respectfully request your consideration for continuance of our firm on your list of approved providers of Real Property Appraisal (Real Estate Appraisal), Category FN.13, for the fiscal year 2025–2026. Enclosed for your information and use are the following: • DPW Form 120 which includes required information listed on your notice including firm information, qualifications of key members of our firm, education, and training. • List of recent projects • Certificate of Good Standing and Certificate of Vendor Compliance • Appraiser License • Client References • Company Brochure We also invite you to visit our website, www.acmmaui.com. Please contact me at (808) 270-0604 for any additional information you may require. Thank for you for your consideration and we look forward to providing further appraisal and consulting services to the County of Hawaii. Respectfully yours, ACM Consultants, Inc. Ted Yamamura, SRA, CGA, R/W-AC Executive Vice President Enclosures ACM Consultants, Inc. 1982 HI ___________ 2073 Wells Street, Suite 100, Wailuku, HI 96793 42 years 94-3268494 Len Inokuma, SRA, CRA Ted Yamamura, SRA, CGA, R/W-AC 2073 Wells Street, Suite 100, Wailuku, HI 96793 Len Inokuma 1 1 Support Staff 2 # of Licensed Appraisers:3 Telephone: (808) 242-6481 Fax: (808) 242-1852 Telephone: (808) 242-6481 Fax: (866) 871-1226 Real Estate Appraisal 5/1/2025 42 (Originally established as ACM Real Estate Appraisers) 1 Len Inokuma Hawaii Ted Yamamura Hawaii President Executive Vice-President/Senior Appraiser 27 10 N/A 47 University of Nevada-LV, BSBA Real Estate Finance (1995)University of Hawaii Appraisal Institute, HI Chapter; Realtors Association of Maui Appraisal Institute, HI Chapter; International Right of Way Association, Realtors Association of Maui CRA-645, 10/9/2002, Hawaii CGA-160, 9/18/1991, Hawaii 23 yrs 30 yrs 19yrs Ashley Haleakala Licensed Staff Appraiser 1 19 University of Hawaii, BBA/Management & Finance (2005) CRA-1118, 2/12/2015, Hawaii 1M $1,000 N/A N/A NOT APPLICABLE NOT APPLICABLE NOT APPLICABLE Len Inokuma, SRA, CRA President 19 CEO/Manager/Appraiser CNH Funding 1997 1998 Las Vegas, NV Mortgage Broker Patrick Lee Loan Origination Rio Hotel and Casino 1995 1997 Las Vegas, NV Guest Services Supervisor Stuart Anbe Supervise Bell Desk Operations Project Assignment Year Location Entity Contact Kuwili Station TOD Redevelopment Area Fee Simple Property Valuations 2025 Honolulu, Oahu C&C Honolulu Mr. Aaron SakamotoKauai/Big Island RP Determination Revocable Permit Rent Deterimnations 2025 Kauai, Hawaii State DOT Harbors Mr. Davis Yogi Olohena Road Improvements Projecct Partial Acquisitions 2024 Kapaa, Kauai WSP Ms. Amanda Murphy-IshikawaPoipu Easements Partial Acquisitions 2024 Poipu, Kauai Kauai County Mr. Aidan Smith Unit 1, HC&D Condominium Fee Simple Property Valuation 2024 Kahului, Maui County of Maui Mr. Guy Hironaka441 Aki Street Property Partial Acquisitions 2024 Lahaina, Maui Fukumoto Engineering Mr. Mike Silva 1122 Banyan Street Apartment Fee Simple Property Valuation 2024 Honolulu, Oahu C&C Honolulu Ms. Catherine Taschner295.488 Acre Land Acquisition Fee Simple Property Valuation 2024 Lihue, Kauai State DHHL Mr. Kali Watson Von Tempskey Lot 1 Acquisition Fee Simple Property Valuation 2024 Kula, Maui County of Maui Mr. Guy HironakaWaiale Road Extension Project Partial Acquisitions 2024 Wailuku, Maui WSUE Mr. Brad Wright Queen Street HART Acquisition Partial Acquisitions 2024 Honolulu, Oahu KSG Mr. Aaron Mun, Esq.Kaei Hana I Industrial Lots Fee Simple Property Valuation 2024 Lihue, Kauai State DHHL Ms. Sharene Tam Central Maui Landfill Expansion Fee Simple Property Valuation 2024 Kahului, Maui County of Maui Mr. Guy HironakaLydgate Park/Kapaa Pedestrian Path Partial Acquisitions 2024 Kapaa, Kauai Kauai County Ms. Kimberly Torigoe Liloa Drive Extension Project Partial Acquisitions 2024 Kihei, Maui County of Maui Mr. Rodrigo Rabara819 So. Beretania Street Property Fee Simple Property Valuation 2024 Honolulu, Oahu C&C Honolulu Ms. Catherine Taschner ADC and DHHL Land Valuations Fee Simple Property Valuations 2024 Lihue, Kauai Grove Farm Mr. Dave HinazumiKealaloa Well/Omaopio Tank Site Fee Simple Land Valuations 2024 Kula, Maui County of Maui Mr. Tom Ochwat North Kohala Land Fee Simple Property Valuation 2023 Kohala, Hawaii Hawaii County Ms. Maxine CutlerLanai Community Hospital CT Scanner Room Valuation 2023 Lanai City, Lanai Pulama Lanai Mr. Garret Tokuda Blood Bank of Hawaii Fee Simple Property Valuation 2023 Honolulu, Oahu C&C Honolulu Ms. Joan AlmogelaHanapepe Commercial Lot Hanapepe Land Acquisition 2023 Hanapepe, Kauai Kauai County Ms. Jodi Higuchi-Sayegusa Kaei Hana I Industrial Lots Ground Rent Redeterminations 2023 Hilo, Hawaii State DHHL Mr. Peter Albinio Jr. North Kona Well Construction Project Partial Acquisitions 2023 Kona, Hawaii Bowers & Kubota Ms. Kathleen ChuMiki Basin Industrial Lots Fee Simple Lot Valuations 2023 Lanai City, Lanai Pulama Lanai Mr. Garret Tokuda Shafter Flats Industrial Lots Ground Rent Redeterminations 2023 Honolulu, Oahu State DHHL Mr. Peter Albinio Jr. Kula Community Center Leased Fee Property Valuation 2023 Kula, Maui County of Maui Mr. Scott Teruya Old Swap Meet Site Fee Simple Property Valuation 2023 Kahului, Maui A & B Inc.Mr. Randy Endo Central Maui Landfill Expansion Fee Simple Land Valuation 2023 Kahului, Maui County of Maui Mr. Guy Hironaka Alii Drive Oceanfront Land Fee Simple Property Valuation 2022 Kona, Hawaii Hawaii County Ms. Maxine Cutler Adolescent Treatment & Healing Center Fee Simple Property Valuation 2022 Lihue, Kauai Grove Farm Mr. Dave Hinazumi Pearlridge Bus Transit Center Partial Acquisitions 2022 Honolulu, Oahu G70 Ms. Kahealani Winchester Ahukini Easements Easement Disposition 2022 Lihue, Kauai State DOT Mr. Mike Auerbach Mamalahoa Highway Drainage Partial Acquisitions 2022 Waimea, Hawaii Hawaii County Mr. Alan Thompson 2241 Kapiolani (Waikiki Vista) Property Fee Simple Property Valuation 2022 Honolulu, Oahu Honolulu C&C Mr. Scott Hayashi Miki Basin Industrial Lots Fee Simple Land Valuations 2022 Lanai City, Lanai Pulama Lanai Mr. Garret Tokuda Interstate H-1 Improvements Partial Acquisitions 2022 Honolulu, Oahu Jacobs Mr. Nick ChingKokololio Stream Bridge Replacement Partial Acquisition 2022 Honolulu, Oahu State DOT Mr. Kirk Oshiro Iwilei Center Fee Simple Property Valuation 2022 Iwilei, Oahu Honolulu C&C Mr. Scott Hayashi Laieloa Stream Bridge Replacement Partial Acquisition 2022 Honolulu, Oahu State DOT Mr. Kirk Oshiro Kona Airport T-Hangars Rent Determination 2021 Kona, Hawaii State DOT Mr. Mike Auerbach Keaau-Pahoa Road Improvements Partial Acquisitions 2021 Pahoa, Hawaii State DOT Mr. Kirk Oshiro Statewide Agriculture Lots Ag Lot Ground Rent Reopenings 2021 Statewide Dept of Agriculture Mr. Roy HasegawaHonolua Bridge Replacement Partial Acquisition 2021 Lahaina, Maui State DOT Mr. Kirk Oshiro Ka'alu'alu Bay Ranch Lands Fee Simple Land Valuation 2021 Naalehu, Hawaii Trust for Public Land Ms. Reyna Ramolete Hayashi Maipaloa Bridge Replacement Partial Acquisition 2021 Waianae, Oahu State DOT Mr. Kirk Oshiro Mokulele Highway Phase I Project Partial Acquisition 2021 Kihei, Maui State DOT Mr. Kirk Oshiro Punaluu Swale Easement Easement Acquisition 2021 Punaluu, Oahu Honolulu BWS Mr. Michael Matsuo Uaoa Bridge Replacement Project Partial Acquisitions 2021 Haiku, Maui State DOT Mr. Kirk OshiroDaniel K. Inouye International Airport Rent Determination of Buildings 2021 Honolulu, Oahu State DOT-Airports Mr. Mike Auerbach Roadway Remnant Parcel Fee Simple Land Valuation 2021 Kona, Hawaii Kamehameha Schools Mr. Steve Hayamoto Papaikou Beach Access Easement Eminent Domain 2020 Kona, Hawaii Hawaii County Mr. Sinclair Salas-Ferguson Dickenson Street Parcels Fee Simple Land Acquisitions 2020 Lahaina, Maui County of Maui Mr. Guy Hironaka Pohoiki Road Restoration Partial Acquisitions 2020 Puna, Hawaii Hawaii County Mr. Ben Ishii Halawa Bus Facility Valuation for Honolulu Rail Project 2020 Halawa, Oahu Honolulu C&C Ms. Sandra Pfund 2301 Waiomau Road Eminent Domain 2020 Palolo, Oahu Honolulu C&C Mr. Scott Shigeoka Kaipapao Bridge Replacement Project Partial Acquisitions 2020 Hauula, Oahu State DOT Mr. Gary Gaspar Pia Valley Land Acquisition Fee Simple Land Valuation 2020 Honolulu, Oahu State DLNR Mr. Russell Tsuji Mamalahoa Highway Widening Partial Acquisitions 2020 Waimea, Hawaii Hawaii County Mr. Daryl Inaba Kakaako Elementary School Ground Lease Rent Determination 2020 Honolulu, Oahu SSFM Mr. Dean Uchida Wainiha Stream Bridge Replacement Partial Acquisitions 2019 Hanalei, Kauai Jacobs Mr. Aaron Swofford Waikiloa Public Library Fee Simple Land Acquisition 2019 Kona, Hawaii State DLNR Mr. Russell TsujiKuhio Highway Short Term Improvements Partial Acquisitions 2019 Kapaa, Kauai State DOT Mr. Kirk Oshiro Lydgate Park/Kapaa Pedestrian Path Easement Acquisitions 2019 Kapaa, Kauai WSP Ms. Pamela Uyeda Wailani Development Use and Occupancy Agreement 2019 Lihue, Kauai Grove Farm Mr. Dave Hinazumi Kapalama Hale Property Acquisition 2019 Honolulu, Oahu Honolulu C&C Ms. Sandra Pfund Kona Industrial Property Fee Simple Land Acquisition 2019 Kona, Hawaii Hawaii County Ms. Deanna Sako Dole Agriculture Lands Fee Simple Land Acquisitions 2019 Wahiawa, Oahu State ADC Mr. Ken NakamotoWailuku Water Company Land & Water Land and Surface Water Conveyance 2018 Wailuku, Maui County of Maui Mayor Alan Arakawa Kahului Agriculture Lands Airport Fee Simple Land Acquisitions 2018 Kahului, Maui DOT-Airports Mr. Mike Auerbach Statewide Agriculture Lots Ag Lot Ground Rent Reopenings 2018 Statewide Dept of Agriculture Mr. Randy Teruya Kilauea Volcano Building Replacement FEMA Building Replacement 2018 Kona, Hawaii NELHA Mr. Alexander Leonard Menehune Road Rockfall Mitigation Easement Acquisition 2018 Waimea, Kauai State DLNR Mr. Russell Tsuji Farrington Highway Utility Crossings Use and Occupancy Agreement 2018 Kapolei, Oahu Kapolei Development Mr. Robby FieldLahaina Bypass Project Partial Acquisitions 2018 Lahaina, Maui Wilson Okamoto Mr. Brian Lock Nanahu Bridge Replacement Project Partial Acquisitions 2018 Kahuku, Oahu CH2M Hill Mr. Aaron Swofford Alewa Heights Property Property Value for HUD Repayment 2018 Honolulu, Oahu Honolulu C&C Mr. Reid Goto Lono Kona Sewer Project Easement Acquisitions 2017 Kona, Hawaii Hawaii County Ms. Maxine Cutler Mahinahina Water Treatment Easement Acquisitions 2017 Lahaina, Maui County of Maui Mr. Tom Ochwat Kona Industrial Properties Property Value for Exchange 2017 Kona, Hawaii Hawaii County Ms. Maxine Cutler Milolii Residential Leases Ground Rent Reopenign 2017 Milolii, Hawaii State DLNR Mr. Russell Tsuji Laupahoehoe Gulch Rockfall Mitigation Partial Acquisitions 2017 Hilo, Hawaii State DOT Mr. Kirk Oshiro Papaikou Public Beach Access Easement Easement Valuation-Eminent Domain 2017 Hilo, Hawaii Hawaii County Mr. Ronald Kim Adolescent Treatment & Healing Center Partial Acquisition 2017 Lihue, Kauai Grove Farm Mr. Dave Hinazumi Waiko Road Water Tank Site Partial Acquisition 2016 Wailuku, Maui A & B Inc.Mr. Grant Chun Pupukea & Alapio Line Alignments Pole and Line Easements 2016 Pupukea, Oahu Henkels & McCoy Mr. Kevin Choan Hanamaulu Park Land Donation Market Value Determination 2016 Lihue, Kauai Kauai County Mr. William TrugilloFarrington Highway Sewerline Use and Occupancy Agreement 2016 Ewa, Oahu DR Horton Mr. Stuart Soong Bridge Aina Le'a Development Appraisal Review 2015 Kona, Hawaii Attorney General Mr. William Wyhnoff Utility Poles & Overhead Lines Easement Valuation 2015 Wailuku, Maui Maui Electric Co.Mr. Craig Yamasaki Ehu Kai Apt 3202 Litigation Support 2015 Kona, Hawaii Castle & Cooke Mr. Lennes Omuro Water Tank Lots Market Value Determination 2015 Wailuku, Maui County of Maui Mr. Jeff Pearson Roman Catholic Church DC Meter Use and Occupancy Agreement 2015 Waikane, Oahu State DOT Mr. Chris YamamotoCentral Maui Landfill Landfill Expansion 2015 Kahului, Maui County of Maui Mr. Sage Kiyonaga Kona International Airport Building Rental 2015 Kona, Hawaii State DOT Mr. Ethan Tomokiyo 2799 Kilauea Avenue Lot for Lease Market Value Determination 2015 Hilo, Hawaii State DLNR Mr. Russell Tsuji Hawaii County Economic Opportunity Ground Rent Reopening 2015 Hilo, Hawaii State DLNR Mr. Russell Tsuji Hawaii Pacific Health Use and Occupancy Agreement 2015 Honolulu, Oahu State DOT Mr. Wayne Iwamasa Shipman Lot 9073 Fee Simple Land Acquisition 2015 Hilo, Hawaii State ADC Ms. Lynn Owan ACM Consultants, Inc. 10 Year Representative Sampling of Completed Projects Department of Commerce and Consumer Affairs CERTIFICATE OF GOOD STANDING I, the undersigned Director of Commerce and Consumer Affairs of the State of Hawaii, do hereby certify that according to the records of this Department, ACM CONSULTANTS, INC. was incorporated under the laws of Hawaii on 04/29/1997 ; and that it is an existing corporation in good standing, and is duly authorized to transact business. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Department of Commerce and Consumer Affairs, at Honolulu, Hawaii. Dated: January 01, 2025 Director of Commerce and Consumer Affairs To check the authenticity of this certificate, please visit: http://hbe.ehawaii.gov/documents/authenticate.html Authentication Code: 522798-COGS_PDF-108383D1 STATE OF HAWAII STATE PROCUREMENT OFFICE CERTIFICATE OF VENDOR COMPLIANCE This document presents the compliance status of the vendor identified below on the issue date with respect to certificates required from the Hawaii Department of Taxation (DOTAX), the Internal Revenue Service, the Hawaii Department of Labor and Industrial Relations (DLIR), and the Hawaii Department of Commerce and Consumer Affairs (DCCA). Vendor Name:ACM CONSULTANTS, INC. Issue Date:04/21/2025 Status:Compliant Hawaii Tax#:20103567 New Hawaii Tax#:GE-0105611264-01 FEIN/SSN#:XX-XXX8494 UI#:XXXXXX3923 DCCA FILE#:108383 Status of Compliance for this Vendor on issue date: Form Department(s)Status A-6 Hawaii Department of Taxation Compliant 8821 Internal Revenue Service Compliant COGS Hawaii Department of Commerce & Consumer Affairs Compliant LIR27 Hawaii Department of Labor & Industrial Relations Compliant Status Legend: Status Description Exempt The entity is exempt from this requirement Compliant The entity is compliant with this requirement or the entity is in agreement with agency and actively working towards compliance Pending A status determination has not yet been made The entity has applied for the certificate but it is awaiting approvalSubmitted The entity is not in compliance with the requirement and should contact the issuing agency for more informationNot Compliant TED YAMAMURA State of Hawaii Appraiser License REFERENCES Mr. Guy Hironaka, Real Property Manager County of Maui-Department of Finance 200 South High Street, 2nd Floor Wailuku, Hawaii 96793 Tel: (808) 270-7725 Fax: (808) 270-7878 Email: guy.hironaka@co.maui.hi.us Mr. Aaron Sakamoto, Chief City and County of Honolulu Dept of Design and Construction, Land Division 650 South King Street Honolulu, Hawaii 96813 Tel: (808) 768-8717 Fax: (808) 523-4567 Email: asakamoto@honolulu.gov Mr. Cyrus Chen, Appraisal Section Chief State of Hawaii-Dept of Transportation, Right of Way Branch 601 Kamokila Boulevard, Room 691 Kapolei, Hawaii 96707 Tel: (808) 692-7693 Fax: (808) 692-7327 Email: cyrus.cy.chen@hawaii.gov Mr. Ian Hirokawa, Acting Land Division Administrator State of Hawaii-Dept of Land & Natural Resources P O Box 621 Honolulu, Hawaii 96809 Tel: (808) 587-0422 Fax: (808) 587-0455 Email: ian.c.hirokawa@hawaii.gov Mr. Roy Hasegawa, Property Manager State of Hawaii-Dept of Agriculture 1428 South King Street Honolulu, Hawaii 96814 Tel: (808) 973-9471 Fax: (808) 973-9467 Email: linda.h.murai@hawaii.gov Ms. Linda Chinn, Acting Administrator State of Hawaii-Dept of Hawaiian Home Lands Land Management Division P O Box 1879 Honolulu, Hawaii 96805 Tel: (808) 620-9451 Email: linda.l.chinn@hawaii.gov Ms. Krista Lunzer, Director of Transit Property Acquisition and Relocation City and County of Honolulu Honolulu Authority for Rapid Transportation (HART) 1099 Alakea Street Suite 1700 Honolulu, Hawaii 96813 Tel: (808) 768-6159 Email: klunzer@wdschockco.com Mr. Shane Nishimoto, MAI, Chief Appraiser American Savings Bank 300 North Beretania Street Honolulu, Hawaii 96817 Tel: (808) 539-7814 Email: snishimoto@asbhawaii.com Mr. Randall Endo, Vice President A & B Properties Hawaii, LLC 11 Puunene Avenue Kahului, Hawaii 96732 Tel: (808) 872-4307 Fax: (808) 871-7497 Email: rendo@abprop.com Mr. David Hinazumi, Senior Vice President Grove Farm 3-1850 Kaumualii Highway Lihue, Hawaii 96766 Tel: (808) 245-3775 Fax: (808) 246-9470 Email: dhinazumi@grovefarm.com Corporate Resume ACM Consultants, Inc. 2073 Wells Street, Suite 100 Wailuku, Maui, Hawaii 96793 (808) 242-6481 www.acmmaui.com Company Profile 1 Services 2 Clients 3 References 4 Qualifications 5 Contents 1 ACM Consultants, Inc. is one of the most experienced independent real estate valuation and consulting companies in Hawaii. The firm is based on the island of Maui and provides diverse services throughout the State of Hawaii. As an integral part of the real estate decision process, ACM Consultants, Inc. provides real estate valuation opinions to a wide range of clients from individual buyers or sellers to developers, lenders, government entities and large private institutions. The firm is involved in providing valuation and market study services for residential properties, condominium units, vacant land, estates, and complex, high value residential real properties throughout the State of Hawaii. ACM Consultants, Inc., also provides expert witness services in the court system of the State of Hawaii, U.S. District Court and U.S. Bankruptcy Court. We also provide specialized services to assist in alternative dispute resolution processes such as mediation and arbitration proceedings, and eminent domain. The principal and associates of ACM Consultants, Inc. are experienced and highly educated in their various fields of expertise. Within the firm are members who have attained the distinctive SRA appraisal designation from the Appraisal Institute, and R/W-AC Certification from the International Right of Way Association. LEN INOKUMA, SRA, CRA, owner and president of ACM Consultants Inc., has been an integral part of the company since 1999. After graduating from the University of Nevada, Las Vegas with a BSBA in Real Estate Finance, Len moved back to Maui to begin his career in residential appraising. By 2002, Len was licensed as a certified residential appraiser (CRA) in the State of Hawaii, and later earned the respected SRA designation from the Appraisal Institute. Being born and raised in Hawaii, along with his extensive knowledge of real estate, Len became an expert in all types of residential properties. As president, Len is actively involved in every aspect of the company. This includes working with clients, overseeing daily operations, leading ACM's growth strategy, and focusing on creating new and applicable valuation products, which will serve his clients more effectively. During his spare time, Len is an active member of his community. He is a board member of the Hawaii Chapter of the Appraisal Institute, the President of the St. Anthony Parish School Board, and a board member of St. Anthony Grade School's PTG. He also serves as a member of both Hale Makua's General Board and the Development and Community Relations Committee. Len resides in Kahului with his wife, Dayna, and two sons, Devin and Chase. TED K. YAMAMURA, SRA, CGA, R/W-AC, Executive Vice-President and senior appraiser was raised on the island of Maui, is a veteran of the U.S. Air Force and educated at the University of Hawaii, Manoa. He received banking experience as manager for the former Honolulu Federal Savings and Loan and began his appraisal career as Vice President, Maui Branch of the former Alexander & Alexander, Ltd. In 1982, he established ACM, Real Estate Appraisers, now known as ACM Consultants, Inc. He is an SRA designee of the Appraisal Institute and also a Right of Way-Appraisal Certified (R/W-AC) appraiser in the State of Hawaii. His primary expertise is the valuation and counseling for government entities throughout the State of Hawaii, arbitration services, litigation support and expert witness services in the court system of the State of Hawaii, U.S. District Court and U.S. Bankruptcy Court. He also provides valuation of complex, high value residential real properties. Mr. Yamamura is also Yellow Book and Right of Way educated and experienced. ACM Consultants, Inc. is proud to be a part of the complex and challenging process of real property valuation on Maui and the State of Hawaii. As the economics of real property changes from market to market, we take pride in knowing that our staff are able to quickly adapt and provide the quality and professional service our clients deserve. Company Profile 2 INCORPORATION Founded August 1982. Incorporated State of Hawaii, April 1997. ADDRESS AND CONTACT 2073 Wells Street, Suite 100 Wailuku, Maui, HI 96793 Telephone: (808) 242-6481 Fax: (866) 871-1226 Website: http://www.acmmaui.com COMPANY HISTORY ACM Consultants, Inc, formerly known as ACM Real Estate Appraisers, Inc., is a Hawaii corporation. ACM Consultants, Inc., is a professional organization providing informed and objective real property valuation services to clients requiring responsible, comprehensive and creative guidance to enable informed decisions and viable solutions in real property valuation problems. ACM Consultants, Inc. is engaged solely in the real property valuation and consultation field. PROFESSIONAL MEMBERSHIPS Appraisal Institute, SRA Designation (Len Inokuma) Appraisal Institute, SRA Designation (Ted Yamamura) National Association of Realtors, Appraisal Section, Founding Member International Right of Way Association, Past Chapter President International Right of Way Association, R/A-AC Certification (Ted Yamamura) APPRAISER LICENSING State of Hawaii, Certified General Appraiser State of Hawaii, Certified Residential Appraiser KEY PERSONNEL Len Inokuma, President SRA, CRA Ted Yamamura, Exec VP SRA, CGA, R/W-AC Ashley Haleakala CRA Tamra Takeshita Darryl Okuda SERVICE AREA State of Hawaii, All Counties 3 SERVICES – Residential Appraisals Single Family Condominium Unit Vacant Land Multiple Dwelling Properties Estates High Value Properties SERVICES – Specialized Appraisals Eminent Domain Right of Way Acquisitions Partial Acquisition Valuations Federal, State and County Transportation Projects Highway, Airport and Harbor Properties Easement Valuations Lease Rent Re-Openings Enhancement Valuation Remnant Valuations Revocable Permits Submerged Lands LEGAL Arbitration Mediation Estate Valuation Litigation Support Expert Witness Services 4 CLIENTS ACM Consultants, Inc. is approved by numerous financial, private and governmental institutions. A partial list of clients include: FINANCIAL American Savings Bank FSB Finance Factors, Ltd. Bank of America First Hawaiian Bank Bank of Hawaii Hawaii National Bank Bank of Oklahoma, N.A. Home Street Bank California Savings Bank Pacific Rim Bank Central Pacific Bank Silicon Valley Bank CitiBank, Hong Kong Territorial Savings Bank Citigroup Private Banking The Bank of Tokyo Deutsche Bank US Bank Federal Credit Unions PRIVATE ENTITIES AND CORPORATIONS Alexander & Baldwin, Inc. Lowe’s AKF Development Malulani Investments, Ltd. Castle & Cooke Company Maui Electric Company CH2M Hill Marriott Clinical Laboratories of Hawaii Maui Memorial Medical Center Commercial Properties of Maui Makani Nui Associates DR Horton-Schuler Homes Mitsunaga & Associates Dowling Company, Ind. Oceanic Time Warner Cable Fidelity National Title Pacific Rim Land, Inc. First Wind Energy LLC Parsons Brinckerhoff Haleakala Ranch Company Pacific Rim Land Grove Farm Property Development Center Hawaiian Cement Pulama Lanai KRS Development The Mills Group Henkels & McCoy Sempra Generation-Auwahi Wind Kamehameha Schools SSFM International KSD Hawaii Spencer Homes Kapolei Property Development LLC Starwood Hotels & Resorts Kaanapali Beach Hotel Stanford Carr Development Kaanapali Development Corp Tesoro Refining & Marketing Co. Kaanapali Land Management Corp Title Guaranty of Hawaii Kaonoulu Ranch Towne Development Hawaii Kapalua Land Company University of New Mexico Kaupo Ranch VIP Foodservice Kukui’ula Development Company West Maui Land Company Clients 5 LEGAL/ACCOUNTING/PLANNERS GOVERNMENT Ashford & Wriston, LLP Kobayashi, Sugita & Goda Alston Hunt Floyd & Ing Karen Temple, Attorney at Law Lung Rose Voss Wagnild Mancini, Welch & Geiger LLP Bronster Fujichaku Robbins McKeon Imlay Mehling Cades Schutte LLP Horovitz Tilley Carlsmith Ball LLLP Pamela Shults, Attorney At Law Dwight K. Muraoka, Attorney Ranken & Associates Deeley King Pang & Van Etten Rush Moore, LLP Glenn Kosaka, Attorney At Law Starn O’Toole Marcus & Fisher Goodsill Anderson Quinn & Stifel Takitani Agaran & Jorgensen LLLP Klevansky Piper LLP Munekiyo & Hiraga Inc. Niwao & Roberts, CPA’s Frampton & Ward LLC N & K CPA’s, Inc. Russell Yamane, CPA County of Maui Office of the Mayor Corporation Counsel Department of Public Works Department of Water Supply Department of Finance Department of Planning Housing & Human Concerns Parks and Recreation City & County of Honolulu Office of the Corporation Counsel Honolulu Authority for Rapid Transportation (HART) Department of Design and Construction Department of Land Management Department of Environmental Services Department of Transportation Services Kauai County Public Works Department Planning Department Hawaii County Department of Finance Office of the Corporation Counsel Department of Public Works Environmental Management 6 NON-PROFIT AND EDUCATIONAL ORGANIZATIONS State of Hawaii Department of the Attorney General Agribusiness Development Corporation Department of Land & Natural Resources Department of Education Department of Transportation – Highways, Harbors, Airports Department of Agriculture Department of Business, Economic Development and Tourism Department of Hawaiian Home Lands Hawaii Health Systems Corporation Hawaii Housing Finance & Development Corporation Hawaii Community Development Authority Hawaii Public Housing Authority Natural Energy Laboratory of Hawaii Federal Housing and Urban Development USDA Rural Development United States Coast Guard United States Department of Agriculture United States Department of Agriculture-NRCS Veteran’s Administration Carden Academy of Maui Kauai Economic Development Board Emmanuel Lutheran Church and School Queen Emma Land Company Hale Mahaolu The ARC in Hawaii Kapiolani Medical Center for Women & Children The Trust for Public Land Maui Coastal Land Trust The Roman Catholic Church Mental Health Kokua University of Hawaii Pacific Cancer Institute University of New Mexico 7 REFERENCE SOURCES Mr. Guy Hironaka, Real Property Manager County of Maui-Department of Finance 200 South High Street, 2nd Floor Wailuku, Hawaii 96793 Tel: (808) 270-7725 Fax: (808) 270-7878 Email: guy.hironaka@co.maui.hi.us Mr. Aaron Sakamoto, Chief City and County of Honolulu Dept of Design and Construction, Land Division 650 South King Street Honolulu, Hawaii 96813 Tel: (808) 768-8717 Fax: (808) 523-4567 Email: asakamoto@honolulu.gov Mr. Cyrus Chen, Appraisal Section Chief State of Hawaii-Dept of Transportation, Right of Way Branch 601 Kamokila Boulevard, Room 691 Kapolei, Hawaii 96707 Tel: (808) 692-7693 Fax: (808) 692-7327 Email: cyrus.cy.chen@hawaii.gov Mr. Ian Hirokawa, Acting Land Division Administrator State of Hawaii-Dept of Land & Natural Resources P O Box 621 Honolulu, Hawaii 96809 Tel: (808) 587-0422 Fax: (808) 587-0455 Email: ian.c.hirokawa@hawaii.gov Mr. Roy Hasegawa, Property Manager State of Hawaii-Dept of Agriculture 1428 South King Street Honolulu, Hawaii 96814 Tel: (808) 973-9471 Fax: (808) 973-9467 Email: linda.h.murai@hawaii.gov Ms. Linda Chinn, Acting Administrator State of Hawaii-Dept of Hawaiian Home Lands Land Management Division P O Box 1879 Honolulu, Hawaii 96805 Tel: (808) 620-9451 Email: linda.l.chinn@hawaii.gov Ms. Krista Lunzer, Director of Transit Property Acquisition and Relocation City and County of Honolulu Honolulu Authority for Rapid Transportation (HART) 1099 Alakea Street Suite 1700 Honolulu, Hawaii 96813 Tel: (808) 768-6159 Email: klunzer@wdschockco.com Mr. Shane Nishimoto, MAI, Chief Appraiser American Savings Bank 300 North Beretania Street Honolulu, Hawaii 96817 Tel: (808) 539-7814 Email: snishimoto@asbhawaii.com Mr. Randall Endo, Vice President A & B Properties Hawaii, LLC 11 Puunene Avenue Kahului, Hawaii 96732 Tel: (808) 872-4307 Fax: (808) 871-7497 Email: rendo@abprop.com Mr. David Hinazumi, Senior Vice President Grove Farm 3-1850 Kaumualii Highway Lihue, Hawaii 96766 Tel: (808) 245-3775 Fax: (808) 246-9470 Email: dhinazumi@grovefarm.com References 8 PROFESSIONAL QUALIFICATIONS Len Inokuma, SRA, CRA ASSOCIATION MEMBERSHIPS: Certified Residential Appraiser, State of Hawaii No. CRA-645, Licensed 10/9/2002 Expiration: December 31, 2025 PROFESSIONAL AFFILIATIONS: Member, Appraisal Institute, SRA Designation, Hawaii Chapter No. 67, Designation - 2014 EXPERIENCE: President ACM Consultants, Inc. 2073 Wells Street Suite 100 Wailuku, Hawaii 96793 May 1998 to Present EDUCATION: University of Nevada Las Vegas – BSBA Real Estate Finance - 1989-1995 Baldwin High School - 1985-1989 COMMUNITY AFFILIATIONS: Hawaii Chapter of the Appraisal Institute Education Chair 2023-Present Hawaii Chapter of the Appraisal Institute President 2022 Hawaii Chapter of the Appraisal Institute Vice President 2020 Hawaii Chapter of the Appraisal Institute Secretary/Treasurer 2019 Hawaii Chapter of the Appraisal Institute Director 2016 - 2018 St. Anthony School Board 2017 - 2019 St. Anthony Parish School Board President - 2016 St. Anthony PTG Board 2016 Hale Makua Services General Board 2014-2019 Hale Makua Services Development & Community Relations Committee Chair 2014-2019 Honolulu Japanese Chamber of Commerce 2005-2006 St. Anthony Parish School Board Board Member 2003-2004 St. Anthony PTG Board PTG President 2003-2004 PTG Vice President 2002-2003 PTG Member 1999-2004 SUCESSFULLY COMPLETED THE FOLLOWING COURSES AND EXAMINATIONS: Appraisal Institute, 7-Hour National USPAP Update Course, Online 2022 Appraisal Institute, “Business Practices and Ethics” – Online 2019 Appraisal Institute, “General Appraiser Market Analysis and Highest and Best Use” – Online 2018 Appraisal Institute, Supervisory Appraiser/Trainee Appraiser Course – Honolulu, HI 2015 Appraisal Institute, “Advanced Residential Report Writing, Pt. II” – Seattle, WA 2013 Appraisal Institute, “Advanced Residential Applications & Case Studies” – Seattle, WA 2013 Appraisal Institute, “Residential & Commercial Valuation of Solar” – Albuquerque, NM 2013 Appraisal Institute, “Introduction to Green Buildings: Principles & Concepts - Online 2013 Appraisal Institute, “Online Residential Report Writing and Case Studies” – Online 2013 Appraisal Institute, “Online Real Estate Finance Statistics and Valuation Modeling” Online 2012 Appraisal Institute, “Residential Market Analysis and Highest & Best Use” – Online 2011 Appraisal Institute, “Online Business Practices and Ethics” – Online, 2011 Qualifications 9 Appraisal Institute, “Online FHA and The Appraisal Process” – 2009 Appraisal Institute, “7 Hour USPAP Course” – Online, 2009 Appraisal Institute, “15 Hour USPAP course” – San Diego, California 2006 Appraisal Institute, Course I210, “Residential Case Study” – Seattle, Washington, 2006 Appraisal Institute, Course II420N, “Business Practices and Ethics” – Honolulu, Hawaii 2005 National Association of Master Appraisers, Course 772 “National USPAP Course” Honolulu, Hawaii 2004 Appraisal Institute, Course 310, “Basic Income Capitalization” – San Diego California 2004 National Association of Master Appraisers, Course 627 “Principles of Real Estate Appraisal” Honolulu, Hawaii 2001 National Association of Master Appraisers, Course 636 “Practice of Real Estate Appraisal” Honolulu, Hawaii 2001 National Association of Master Appraisers, Course 660 “Writing The Narrative Appraisal Report” - Honolulu, Hawaii 2001 National Association of Master Appraisers, Course 672 “Standards of Professional Appraisal Practice” - Honolulu, Hawaii 2001 Appraisal Institute, Course 120, “Appraisal Procedures” – Tempe, Arizona 1999 Appraisal Institute, Course 110, “Appraisal Principles” – Tempe, Arizona 1999 QUALIFIED CONTINUING EDUCATION SEMINARS ATTENDED: Appraisal Institute, Leadership Development & Advisory Council, 2024 Appraisal Institute, A Workout Plan For Your Scope of Work, Honolulu, 2023 Appraisal Institute, Leadership Development & Advisory Council, 2022 Appraisal Institute, Avoiding Bias: Building a Bias Defense, Honolulu, 2022 Appraisal Institute, Valuation Overview of Accessory Dwelling Units, Honolulu, 2022 Appraisal Institute, 7-Hour National USPAP Update Course, Online 2022 Appraisal Institute, 2021 AI Annual Conference, Day 1 and 2, 2021 Appraisal Institute, Chapter Leadership Program, Webinar, 2021 Appraisal Institute, “Appraising Condos, Co-ops, and PUDs” – Online 2021 Appraisal Institute, “Appraisal of Manufactured Homes Featuring Next-Generation Manufactured Homes” – Online 2021 Appraisal Institute, “Desktop Appraisals (Bifurcated, Hybrid) and Evaluations” – Online 2021 Appraisal Institute, “Business Practices and Ethics” – Online 2020 Appraisal Institute, Chapter Leadership Program, Webinar, 2020 Appraisal Institute, 7-Hour National USPAP Update Course, Honolulu, Hawaii 2020 Appraisal Institute, Desktop Appraisals (Bifurcated, Hybrid) and Evaluations, Virtual Classroom 2019 Appraisal Institute, Hawaii Banks’ Appraisal Perspective and Expectations, Honolulu, Hawaii 2019 Appraisal Institute, State of the Profession: Statutes & Rules for Hawaii Real Estate Appraisers, Honolulu, Hawaii 2019 Appraisal Institute, Spotlight on Common Errors and Issues, Honolulu, Hawaii 2019 Appraisal Institute, Spotlight on USPAP: Agreement for Services- Instructions for Use, Honolulu, Hawaii 2019 Appraisal Institute, Spotlight on Confidentiality, Honolulu, Hawaii 2019 Appraisal Institute, Spotlight on Review, Honolulu, Hawaii 2019 Appraisal Institute, 7-Hour National USPAP Update Course, Honolulu, Hawaii 2019 Appraisal Institute, Valuation by Comparison: Residential Analysis and Logic, Honolulu, Hawaii 2019 Appraisal Institute, 7-Hour National USPAP Update Course, Honolulu, Hawaii 2018 Appraisal Institute, A Lender’s Perspective: The Role of the Appraisal, Honolulu, HI 2018 Appraisal Institute, Solving Land Valuation Puzzles, Honolulu, HI 2018 Appraisal Institute, Spotlight on USPAP: Common Errors and Issues, Honolulu, HI 2017 Appraisal Institute, Spotlight on USPAP: Appraisal Review, Honolulu, HI 2017 Appraisal Institute, Litigation Assignments for Residential Appraisers: Doing Expert Work on Atypical Cases, Honolulu, HI 2017 Appraisal Institute, Doing Expert Work on Atypical Cases, Honolulu, HI 2017 Appraisal Institute, Advanced Land Valuation: Sound Solutions to Perplexing Problems, Honolulu, HI 2017 Appraisal Institute, “Income Approach for Residential Appraisers – Honolulu, HI 2016 Appraisal Institute, “7 Hour National USPAP Update Course” – Honolulu, HI 2016 Appraisal Institute, “FHA Appraising for Valuation Professionals” – Honolulu, HI 2016 Appraisal Institute, “Thinking Outside the Form” – Online 2016 Appraisal Institute, “Cool Tools: New Technology for Real Estate – Online 2016 10 Appraisal Institute, Impact of Collateral Underwriter for Appraisers and Lenders Webinar, 2015 Appraisal Institute, Unraveling the Mystery of Fannie Mae Appraisal Guidelines Honolulu, Hawaii, 2014 Appraisal Institute, Litigation Assignments for Residential Appraisers: Doing Expert Work on Atypical Cases – Honolulu, Hawaii, 2014 Appraisal Institute, 7-Hour National USPAP Update Course – Honolulu, HI 2014 Appraisal Institute, 7-Hour National USPAP Update Course – Honolulu, HI 2012 Appraisal Institute, Uniform Appraisal Dataset Aftereffects: Efficiency vs. Obligation Honolulu, Hawaii 2012 Appraisal Institute, Marketability Studies: Six-Step Process & Basic Applications Honolulu, Hawaii 2012 Appraisal Institute, The Uniform Appraisal Dataset form Fannie Mae and Freddie Mac (Hawaii ID 11-016) Honolulu, HI 2011 Appraisal Institute, FHA and The New Residential Form, (Hawaii ID 10-172) Honolulu, Hawaii 2010 Appraisal Institute, Hawaii Lands, Historical Review (Hawaii ID 09-909) Maui, Hawaii 2009 Appraisal Institute, The New Residential Market Conditions Form (Hawaii ID 09-005), Honolulu, Hawaii 2009 Appraisal Institute, Proposed Interagency Appraisal & Evaluation Guidelines/HVCC (Hawaii ID 09-006) Honolulu, HI 2009 Appraisal Institute, REO Appraisal: Appraisal of Residential Property Foreclosure (Hawaii ID 08-140), Honolulu, Hawaii 2008 Appraisal Institute, Appraisal Challenges: Declining Markets and Sales (Hawaii ID 08-139) Honolulu, Hawaii 2008 Appraisal Institute, Fannie Mae Seminar (Hawaii ID 06-123), Honolulu, Hawaii 2006 Appraisal Institute, The Professional’s Guide to URAR (Hawaii ID 04-137) Honolulu, Hawaii 2005 Appraisal Institute, Case Studies in Limited Partnerships and Common Tenancy (Hawaii ID 04-097), Honolulu, 2005 Appraisal Institute, Scope of Work: Where Are We Now? (Hawaii ID 04-098) Honolulu, Hawaii 2005 Appraisal Institute, Reappraising, Readdressing, Reassigning: What to do and Why and What to Include in a Work File (Hawaii ID 04-097) Honolulu, Hawaii 2004 Appraisal Institute, Fannie Mae Residential Presentation (Hawaii ID 04-099) Honolulu, Hawaii 2004 Appraisal Institute, FHA Appraisal Inspection from the Ground Up: What Every Appraiser Should Know (Hawaii ID 03-011) - Honolulu, HI 2003 Appraisal Institute, “Business Practices and Ethics” Honolulu, HI 2003 Appraisal Institute, Client Forum: “Meet Your Bosses” Honolulu, HI 2002 Appraisal Institute, “Practical Ways to Leverage New Tech. Tools in Appraisal Business” - Honolulu, HI 2002 Appraisal Institute, “Financial Reporting Valuations, Part 1: Principles/Concepts” Honolulu, HI 2002 Appraisal Institute, “Technology Update, Part 1” Honolulu, HI 2002 LEGAL: Qualified as an expert witness: Second Circuit Court, State of Hawaii U.S. Bankruptcy Court 11 APPRAISER QUALIFICATIONS – TED K. YAMAMURA, SRA, R/W-AC, CGA • STATE LICENSING State Certified General Appraiser, State of Hawaii, License No. CGA 160, 9/18/1991 Expiration: December 31, 2025 • PROFESSIONAL AFFILIATIONS Member---Appraisal Institute - Honolulu Chapter #67, SRA Designation - 1985 Member---International Right of Way Association (IRWA), R/W-AC Certification - 2007 • PROFESSIONAL AND COMMUNITY INVOLVEMENT Past Member---State of Hawaii, Commission on Water Resource Management – 2012-2014 Past President---Hawaii Chapter of the Appraisal Institute – 2010 Past Member---County of Maui, Board of Water Supply – 2008-2012 Past Member---State of Hawaii, Board of Land & Natural Resources – 2001-2006 Past President---International Right of Way Association (IRWA), Hawaii Chapter #30 - 2004 Past President---Maui County Council, Boy Scouts of America – 1987 • EXPERIENCE AND EDUCATION Executive Vice President ACM Consultants, Inc. 2073 Wells Street Suite 100 Wailuku, Maui, Hawaii 97693 Previously associated with the following: Vice President - Alexander & Alexander, Ltd. - Maui Division – 1979-1982 Assistant Vice President - Honolulu Federal Savings & Loan Assn. – 1974-1979 Veteran - United States Air Force – 1967-1971 Educated: Maui High School and University of Hawaii • SUCCESSFULLY COMPLETED THE FOLLOWING COURSES: National Highway Institute – Course FHWA-NHI-141054, Practical Applications in Federal-Aid Highway Program Appraisals – 2023 Appraisal Institute – National Uniform Standards of Professional Appraisal Practice (USPAP) 2022-2023 Update Course – 2022 International Right of Way Association – Course 431, Problems in the Valuation of Partial Acquisitions, 2021 Appraisal Institute “National Uniform Appraisal Standards for Federal Land Acquisitions (“Yellow Book”) Practical Applications” - 2017 International Right of Way Association – Course 403, Easement Valuation – 2008 International Right of Way Association – Course 410, Reviewing Appraisals in Eminent Domain – 2008 International Right of Way Association – Course 401, The Appraisal of Partial Acquisitions – 2007 International Right of Way Association – Course 409, Integrating Appraisal Standards – 2005 Appraisal Institute – Course 400, Uniform Standards of Professional Appraisal Practice (USPAP) – 2003 International Right of Way Association (IRWA) Course 214, Skills of Expert Testimony – 1988 Society of Real Estate Appraisers (SREA) Course 102 Examination, “Applied Residential Property Valuation” – 1982 Society of Real Estate Appraisers (SREA) “Narrative Demonstration Report” Examination - 1983 Society of Real Estate Appraisers (SREA) Course 101 Examination, “Introduction to Appraising Real Property” – 1979 Society of Real Estate Appraisers (SREA) “Narrative Demonstration Report” Examination, Wailuku, Maui, Hawaii - 1983 Society of Real Estate Appraisers (SREA) Course 101 Examination, “Introduction to Appraising Real Property”, Honolulu, Hawaii – 1979 Qualifications 12 • CONTINUING EDUCATION SEMINARS AND WORKSHOPS ATTENDED: Appraisal Institute “Artificial Intelligence, Blockchain, and the Metaverse: Implications for Valuation” – 2025 Appraisal Institute “Excel Applications for Valuation” – 2021 Appraisal Institute “Eminent Domain and Condemnation” – 2019 Appraisal Institute “Fundamentals of the Uniform Appraisal Standards for Federal Land Acquisitions” – 2019 Appraisal Institute “Solving Land Valuation Puzzles” – 2018 Appraisal Institute “Income Approach for Residential Appraisers” – 2016 Appraisal Institute “The Discounted Cash Flow Model” – 2015 Appraisal Institute “Complex Litigation Appraisal Case Studies” – 2014 The Seminar Group “Eminent Domain & Condemnation in Hawaii” - 2013 University of Hawaii/State of Hawaii Department of Transportation “Federal Highways (FHWA) Highway Noise Policy and Abatement Guidelines Workshop” - 2011 Appraisal Institute “Real Estate Finance, Statistics, and Valuation Modeling” - 2009 Lorman Education Services “Law of Easements: Legal Issues and Practical Considerations in Hawaii” – 2006 Lorman Education Services “Eminent Domain in Hawaii” – 2006 Appraisal Institute “Mini-Series on USPAP Issues” – 2006 International Right of Way Association (IRWA) “Uniform Act Symposium” - 2005 Lorman Education Services “Zoning and Land Use in Hawaii” – 2003 The American Society of Farm Managers & Rural Appraisers “Conservation Easements” – 2001 The American Society of Farm Managers & Rural Appraisers “Appraising Rural Residential Properties” - 2001 Appraisal Institute “Valuation of Detrimental Conditions in Real Estate” – 2000 Appraisal Institute “Case Studies in Residential Highest and Best Use” – 2000 Appraisal Institute “Advanced Sales Comparison Approach” - 2000 Appraisal Institute “Appraisal of Nonconforming Uses” – 2000 Appraisal Institute “Litigation Skills for the Appraiser: An Overview” - 1998 Appraisal Institute “Special Purpose Properties” - 1997 Appraisal Institute “Appraising for the Secondary Market” - 1996 Appraisal Institute “The Condominium Form and the Small Residential Income Property Appraisal Report Form” - 1995 Appraisal Institute “Residential Appraisal Review” - 1994 Appraisal Institute “Understanding Limited Appraisals and Appraisal Reporting Options” - 1994 Appraisal Institute “Accrued Depreciation” - 1992 Appraisal Institute “Market Analysis” – 1992 American Institute of Real Estate Appraisers (AIREA) “Easement Valuation” - 1990 Federal National Mortgage Association (FNMA) “Fannie Mae Appraisals” - 1990 Society of Real Estate Appraisers (SREA) “Federal Home Loan Bank Board Appraisal Standards” - 1989 Society of Real Estate Appraisers (SREA) “Uniform Small Residential Income Appraisal Report” - 1989 Society of Real Estate Appraisers (SREA) “Professional Practice” – 1988 Society of Real Estate Appraisers (SREA) “R-41c and the Appraiser” - 1987 American Institute of Real Estate Appraisers (AIREA) “R-41b and Subdivision Analysis” – 1985 Society of Real Estate Appraisers (SREA) “Creative Financing and Cash Equivalency” - 1983 Society of Real Estate Appraisers (SREA) “Appraising Single Family Residences” - 1983 International Right of Way Association (IRWA) “Condemnation” - 1982 Society of Real Estate Appraisers (SREA) “Application of Market Extraction’s” – 1981 • LEGAL Qualified as an expert witness: First Circuit Court, Honolulu, Hawaii Second Circuit Court, Maui, Hawaii Third Circuit Court, Hawaii Island, Hawaii U.S. District Court, Honolulu, Hawaii U.S. Bankruptcy Court, Honolulu, Hawaii Experienced in real estate arbitration assignments in the State of Hawaii