New Board Members Join Hawaiian Tax-Free Trust

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New board members Cathy Luke and Randy Perreira have been appointed trustees of Hawaiian Tax-Free Trust in anticipation of the retirement of two current trustees, Hawaiian Tax-Free Trust reported on Sept. 18, 2018.

In order to provide for an effective transition of duties and responsibilities, the retiring trustees—Richard Humphreys (chair) and Russell Okata—will continue to serve, along with the new trustees and other members of the board, until late 2019.

“We want to welcome two outstanding individuals in Cathy Luke and Randy Perreira to our board,” said Diana Herrmann, president and vice chair of Hawaiian Tax-Free Trust as well as president and chief executive officer of Aquila Investment Management LLC, sponsor, administrator and business manager of Hawaiian Tax-Free Trust. “We also would like to acknowledge and thank Rick Humphreys and Russell Okata for their service. All four know and love Hawai‘i and understand the importance Hawaiian Tax-Free Trust plays in helping our shareholders reach their financial goals while at the same time enhancing the quality of life throughout Hawai‘i through its investments in municipal projects.”

Luke is president and director of Loyalty Enterprises Ltd. (property management) and KJL Inc. (real estate investment), as well as vice president of Loyalty Development Ltd. (real estate investment). She also serves as a director of Hawai‘i Leadership Forum and Trinity Merger Corporation.


Perreira is executive director of Hawai‘i Government Employees Association and president of Hawai‘i State AFL-CIO. He additionally serves as a director of Aloha United Way and American Judicature Society (Hawai‘i), is a Member of P-20 Council for the State of Hawai‘i and a board member of Industrial Relations Research Association as well as Hawai‘i Medical Services Association. He is active with various civic and charitable organizations.

Hawaiian Tax-Free Trust holds annual shareholder meetings to allow shareholders to personally meet corporate representatives, ask questions and learn how their money is being used.

The shareholder meetings will be held in Honolulu and in Kona and Hilo on Hawai‘i Island. The times and locations are:

  • Wednesday, Sept. 19, 10 a.m.: Ala Moana Hotel, Hibiscus Ballroom, 410 Atkinson Drive, Honolulu
  • Thursday, Sept. 20, noon: ‘Imiloa Astronomy Center of Hawai‘i, Moanahoku Room, Hilo
  • Friday, Sept. 21, 11 a.m.: King Kamehameha’s Kona Beach Hotel, Ballroom 3 & 4, Kailua-Kona

Paul Brewbaker. PC: Hawaiian Tax-Free Trust


At the meetings, the shareholders will hear renowned Hawai‘i economist Paul Brewbaker, principal of TZ Economics, speak about Hawai‘i’s and the nation’s economy. They will also receive insights from portfolio managers Janet Katakura and Stephanie Nomura on Hawai‘i’s recent issuance of municipal bonds as well as the state’s investment landscape.

The annual meeting also provides shareholders with the opportunity to meet people who oversee the trust including board members and trust officers. Shareholders can speak to trustees and trust managers on an informal basis, prior to and at the conclusion of the program. Shareholders and their financial professionals are encouraged to attend.

“Hawaiian Tax-Free Trust plays an important role in helping develop local communities and the State of Hawai‘i, while providing income exempt from federal and state taxes to shareholders,” said Herrmann.


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