Asset Manager

Asset Manager Ikenakea Honolulu, HI Job Details Contract $90,000 - $140,000 a year 16 hours ago Benefits Health insurance Dental insurance Vision insurance Qualifications Strategic management Property management tools Underwriting LIHTC Financial reporting Expense management Regulatory compliance Yardi Data reporting Managing budgets in a finance role Bachelor's degree Decision making Financial regulatory compliance Organizational budget management Full Job Description Asset Manager - ʻIkenākea

Asset Management Location:

Hawaiʻi (preferred) or West Coast (CA/AZ/HI portfolio oversight)

Type:

Full-Time Experience Level:

Senior (10+ years) About ʻIkenākea Development ʻIkenākea 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 returns High-quality design and construction Strong partnerships with public agencies and community stakeholders Operational excellence across its portfolio Today, 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 Overview ʻIkenākea 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 Oversight Manage financial and operational performance across a multi-state portfolio, acting as an extension of ownership Review monthly financials, operating statements, and variance reports, highlighting key risks and opportunities Monitor key performance metrics including NOI, occupancy, vacancy, delinquencies, unit turnover timelines, and expense trends Track portfolio-level items including deferred developer fees, replacement reserves, and capital accounts Oversee annual budgets, forecasts, and capital plans; review and approve operating budgets Conduct regular site visits to evaluate asset condition, property management performance, and capital needs Lead monthly ownership-focused meetings, providing high-level reporting and strategic recommendations Affordable Housing Compliance Ensure compliance with Low-Income Housing Tax Credit (LIHTC), HOME Investment Partnerships Program, National Housing Trust Fund (NHTF), and other regulatory requirements Track compliance deadlines, lease-up milestones, and reporting obligations across all assets Coordinate with property management and compliance teams on reporting, audits, and regulatory submissions Monitor compliance with loan covenants, partnership agreements, and post-development requirements Oversee investor reporting, including distributions, waterfall calculations, and financial compliance Strategic Asset Management Serve as an arm of ownership in asset-level decision-making, applying an ownership lens to all properties Develop and implement asset-level business plans aligned with long-term portfolio strategy Identify and execute opportunities for repositioning, refinancing, recapitalization, or disposition Identify expense reduction opportunities and revenue optimization strategies Support capital improvement planning and execution, including deferred maintenance and major repairs Coordinate contractors for both minor and major capital projects Manage post-construction activities, including punch walks prior to turnover to management, as well as warranty claims and insurance claims Provide input during design and construction phases of new developments to ensure operational efficiency Support underwriting of new projects using historical portfolio performance data Stakeholder Coordination Serve as primary liaison between ownership, property management, and project partners Maintain oversight of property management performance across maintenance, leasing, and marketing functions Review and negotiate property management agreements Coordinate with lenders, investors, public agencies, and consultants Support internal reporting and portfolio-level strategy discussions Complete annual reporting requirements including REO schedules and audit-related deliverables Commercial Asset Oversight Monitor performance of commercial assets, including leasing activity, tenant relations, and overall operations Review rent rolls, track lease expirations, and manage renewals for commercial tenants Oversee CAM reconciliations and ensure accuracy of recoveries Support leasing strategies and, where needed, assist with commercial leasing efforts Qualifications 3+ years of experience in asset management, real estate development, or multifamily operations Strong experience with LIHTC and affordable housing compliance Proven track record managing multi-asset portfolios (500+ units preferred) Experience with financial analysis, budgeting, and reporting Familiarity with property management systems (e.g., Yardi, RealPage) Strong communication and stakeholder management skills Bachelor's degree in Finance, Real Estate, or related field (advanced degree preferred)

Compensation Base Salary:

$90,000-$140,000 (Based on Experience)

Bonus:

Performance-based bonus potential Benefits (Typical) Health, dental, and vision insurance Automobile Expenses reimbursed Flexible / hybrid work environment Why Join ʻIkenākea Direct involvement in mission-driven housing and commercial real estate projects that impact local communities Exposure to major components of real estate development and ownership Ability to shape and grow a portfolio across Hawaiʻi, California, and Arizona. Work within a lean, entrepreneurial team with meaningful responsibility

Pay:

$90,000.00 - $140,000.00 per year

Benefits:

Dental insurance Health insurance Vision insurance

Work Location:

In person