Asset Manager

Asset Manager – ʻIkenākea Asset ManagementLocation: Hawaiʻi (preferred) or West Coast (CA/AZ/HI portfolio oversight) Type: Full-Time Experience Level: Senior (10+ years) Preferred, 3+ years RequiredAbout ʻIkenākea DevelopmentʻIkenākea Development is a Hawaiʻi-based real estate development firm focused on delivering high-quality, community-oriented housing and commercial real estate projects across the state and beyond. The company specializes in the development and ownership of affordable, workforce, mixed-income housing, as well as commercial/retail developments with a mission to create long-term, stable communities that serve local residents.With a growing portfolio spanning Hawaiʻi and the West Coast, ʻIkenākea is actively involved in all phases of development—from acquisition and financing through construction and long-term ownership. The firm has successfully delivered and is advancing multiple large-scale projects, including multifamily affordable housing communities financed through LIHTC, HOME, and other public-private partnerships.ʻIkenākea takes a hands-on, ownership-driven approach to its assets, emphasizing:Long-term stewardship over short-term returnsHigh-quality design and constructionStrong partnerships with public agencies and community stakeholdersOperational excellence across its portfolioToday, the firm oversees a portfolio of approximately 1,400 residential units—primarily affordable rental housing—along with select commercial assets, and continues to expand through new development and acquisitions.Joining ʻIkenākea means being part of a mission-driven, entrepreneurial team that is directly shaping the future of housing in Hawaiʻi and beyond. Team members have the opportunity to work across major components in the lifecycle of real estate development, take on meaningful responsibility, and contribute to projects that have a lasting impact on local communities.Position OverviewʻIkenākea is seeking an experienced Asset Manager to oversee a portfolio of approximately 1,400 residential units—primarily LIHTC affordable housing, along with workforce and market-rate assets—and 2–3 commercial properties across Hawaiʻi and California.This role is responsible for maximizing asset performance, ensuring compliance, and supporting long-term portfolio strategy. The ideal candidate brings strong residential and commercial real estate experience and can operate as an owner’s representative across a diverse portfolio.A key component of this role is conducting regular site visits. The Asset Manager is expected to visit each property at a minimum of once per quarter. For candidates based in Hawaiʻi, site visits to Hawaiʻi assets should occur at least monthly. Coordinating travel to visit multiple properties within a single trip is strongly encouraged for efficiency. Travel expenses will be reimbursed in accordance with company policy. These visits are critical to maintaining strong relationships with on-site management teams and ensuring alignment with ownership objectives. The selected candidate will undergo a structured transition and training period during the latter half of 2026 under the guidance of the current Asset Manager, who is expected to depart at year-end. This period will include hands-on exposure to the existing portfolio, reporting systems, key relationships, and ongoing asset management initiatives.Beginning in early 2027, the candidate will assume full responsibility for the role, operating as the sole Asset Manager for the portfolio. This position requires a high level of ownership, initiative, and independent decision-making, with direct visibility to ownership. The Asset Manager will be expected to manage day-to-day asset performance while also driving long-term strategic initiatives across the portfolio.Key ResponsibilitiesPortfolio OversightManage financial and operational performance across a multi-state portfolio, acting as an extension of ownershipReview monthly financials, operating statements, and variance reports, highlighting key risks and opportunitiesMonitor key performance metrics including NOI, occupancy, vacancy, delinquencies, unit turnover timelines, and expense trendsTrack portfolio-level items including deferred developer fees, replacement reserves, and capital accountsOversee annual budgets, forecasts, and capital plans; review and approve operating budgetsConduct regular site visits to evaluate asset condition, property management performance, and capital needsLead monthly ownership-focused meetings, providing high-level reporting and strategic recommendationsAffordable Housing ComplianceEnsure compliance with Low-Income Housing Tax Credit (LIHTC), HOME Investment Partnerships Program, National Housing Trust Fund (NHTF), and other regulatory requirementsTrack compliance deadlines, lease-up milestones, and reporting obligations across all assetsCoordinate with property management and compliance teams on reporting, audits, and regulatory submissionsMonitor compliance with loan covenants, partnership agreements, and post-development requirementsOversee investor reporting, including distributions, waterfall calculations, and financial complianceStrategic Asset ManagementServe as an arm of ownership in asset-level decision-making, applying an ownership lens to all propertiesDevelop and implement asset-level business plans aligned with long-term portfolio strategyIdentify and execute opportunities for repositioning, refinancing, recapitalization, or dispositionIdentify expense reduction opportunities and revenue optimization strategiesSupport capital improvement planning and execution, including deferred maintenance and major repairsCoordinate contractors for both minor and major capital projectsManage post-construction activities, including punch walks prior to turnover to management, as well as warranty claims and insurance claimsProvide input during design and construction phases of new developments to ensure operational efficiencySupport underwriting of new projects using historical portfolio performance dataStakeholder CoordinationServe as primary liaison between ownership, property management, and project partnersMaintain oversight of property management performance across maintenance, leasing, and marketing functionsReview and negotiate property management agreementsCoordinate with lenders, investors, public agencies, and consultantsSupport internal reporting and portfolio-level strategy discussionsComplete annual reporting requirements including REO schedules and audit-related deliverablesCommercial Asset OversightMonitor performance of commercial assets, including leasing activity, tenant relations, and overall operationsReview rent rolls, track lease expirations, and manage renewals for commercial tenantsOversee CAM reconciliations and ensure accuracy of recoveriesSupport leasing strategies and, where needed, assist with commercial leasing effortsQualifications3+ years of experience in asset management, real estate development, or multifamily operationsStrong experience with LIHTC and affordable housing complianceProven track record managing multi-asset portfolios (500+ units preferred)Experience with financial analysis, budgeting, and reportingFamiliarity with property management systems (e.g., Yardi, RealPage)Strong communication and stakeholder management skillsBachelor’s degree in Finance, Real Estate, or related field (advanced degree preferred)CompensationBase Salary: $90,000-$140,000 (Based of Experience) Bonus: Performance-based bonus potentialBenefits (Typical)Health, dental, and vision insuranceAutomobile Expenses reimbursedFlexible / hybrid work environmentWhy Join ʻIkenākeaDirect involvement in mission-driven housing and commercial real estate projects that impact local communitiesExposure to major components of real estate development and ownershipAbility to shape and grow a portfolio across Hawaiʻi, California, and Arizona.Work within a lean, entrepreneurial team with meaningful responsibility