HONOLULU (HawaiiNewsNow) - Hawai'i Pacific University (HPU) and Castle Medical Center (CMC) confirmed today the sale and purchase of HPU's 135-acre Hawaii Loa campus for CMC's expansion. HPU will continue its operations on the property until 2020, while it stages the university's transition to a singular campus in downtown Honolulu.
"The Hawaii Loa campus has offered our students, faculty, and alumni one of the most beautiful venues to explore academics," said John Gotanda, president of HPU. "As such, we are pleased that CMC will steward the property as it deserves and continue to add to our beloved community in the many years to come."
HPU's endowment and proceeds from the Hawaii Loa campus transaction strengthen the university's financial resources as it completes its transition to a singular campus in downtown Honolulu. In tandem with this move, HPU is developing the university experience through its newest facilities, including Aloha Tower Marketplace and the IDeA Network of Biomedical Research (INBRE) laboratory.
"This transaction allows Castle Medical Center to expand in ways that furthers the hospital's mission of caring for our community and sharing God's love," said Kathy Raethel, president and CEO of Castle Medical Center. "As we continue to provide advanced technology and exemplary service to the Windward side, this will also be an opportunity for potential partnership with HPU's nursing and science programs."
Castle Medical Center plans to use the new facilities to further enhance the center's commitment to providing innovative health care, in addition to its focus on each patient's physical, emotional, and spiritual well-being. Both parties are moving forward with their transition plans after the deal was finalized on December 20, 2016.
Founded in 1965, Hawai'i Pacific University has grown to become the state's leading private, non-profit university, with a student population of nearly 5,600 undergraduate and graduate students from all 50 states and over 65 countries around the world. It has campuses in downtown Honolulu, Kane'ohe, and Makapu'u. USA Today has named it the most diverse university in the nation.