← 85-104 Alawa Pl, Waianae, HI 96792 · All properties
UPDATES.md
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| Property | 85-104 Alawa Pl, Waianae, HI 96792 |
|---|---|
| Folder | README & Property Snapshot |
| Kind | Text |
| Updated | 2026-07-15 |
| Dropbox path | 00 - README & Property Snapshot/UPDATES.md |
What This File Appears To Be
<!-- NY_HI_ACCRUAL_RECONCILIATION_START --> ## Accrual Funding Reconciliation (2026-07-15) The ECO GL begins `2025-02-01`, the first day of the month before the first token sale on `2025-03-14`. Earlier rows are excluded from this DAO's GL. - ECO GL Column E accounting position: **$3,442.50**. - Open accrual requirement: **$2,705.03** (legal dao payable $62.50, pm payable $2,642.53). - Other accounts payable / receivable: **$8,098.13 AP** and **$443.72 AR**. - Live unrestricted DAO bank cash: **
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<!-- NY_HI_ACCRUAL_RECONCILIATION_START -->
## Accrual Funding Reconciliation (2026-07-15)
The ECO GL begins `2025-02-01`, the first day of the month before the first token sale on `2025-03-14`. Earlier rows are excluded from this DAO's GL.
- ECO GL Column E accounting position: **$3,442.50**.
- Open accrual requirement: **$2,705.03** (legal dao payable $62.50, pm payable $2,642.53).
- Other accounts payable / receivable: **$8,098.13 AP** and **$443.72 AR**.
- Live unrestricted DAO bank cash: **$3,959.42**.
- Restricted cash excluded from ordinary funding: **$0.00**.
- Bank funding gap after net AR/AP: **$6,400.02 underfunded**; surplus **$0.00**.
- 2026 retained-capital model: retained $0.00; ECO principal/interest debt $4,970.11.
Column E is the accounting/CF-close position, not current bank cash. Month-end reset and capital-close rows remain in Column E but are non-cash and are excluded from every inter-DAO transfer and bank-underfunding calculation. A positive Column E balance therefore does not by itself mean the bank has enough cash to pay open accruals.
Current net cash schedule affecting this DAO:
- Pay ECO Systems LLC: $7,265.19 (funding required before full transfer)
- Pay Earl Co (personal Chase checking ...0000): $3,500.00 (funding required before full transfer)
- Receive from Heron LFTY0314 DAO LLC: $443.72
- Pay LOFTY HOLDING 5541 S PEORIA STREET DAO LLC: $37.97 (funding required before full transfer)
Taxes, insurance, and escrow accruals are reserve requirements rather than immediate external payment instructions. Transfers marked funding required should not be executed in full until the incoming reimbursements, reserve top-up, or approved financing is available.
<!-- NY_HI_ACCRUAL_RECONCILIATION_END -->
## 2026-07-14
- Property Update (07/14/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $2,000.73
Operating Expenses: -$5,553.68
NOI: -$3,552.95
Net Operating Cashflow: -$4,585.08
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $430.59 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$12,001.79 (ECO Systems General Ledger Column E (289 rows))
# Property Updates
## 2026-07-12
- Property Update (07/12/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
## Cash Flow Snapshot (2026-06)
| Metric | Amount |
|---|---:|
| Revenue | $0.00 |
| Operating Expenses | $0.00 |
| NOI | $0.00 |
| Net Operating Cashflow | $0.00 |
## Monthly Cash Position (2026-06)
Amounts are shown as of 2026-06. ECO Operating Cash is the complete DAO-attributed ECO Systems GL Column E balance through the as-of month, including accruals; it is not limited to ECO Systems LLC bank cash.
| Metric | Amount | Source |
|---|---:|---|
| Lofty Operating Cash | $430.59 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | $22,559.21 | ECO Systems General Ledger Column E (298 rows) |
## Source Evidence
| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `[local-path]/Users/digit/Dropbox/Real Estate/HI/85-104 Alawa Pl Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 85-104 Alawa Pl.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 298 |
| ECO GL Column E sum | $22,559.21 |
Financial summary:
- Lofty-held current maintenance reserve: $430.59
- ECO GL Column E sum: $22,559.21 (298 rows)
## 2026-07-02
- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.
Financial summary:
- Lofty-held current maintenance reserve: $680.59
- ECO GL Column E sum: $26,559.39 (296 rows)
- **Property Update (01/02/2026)**
- Owner-proposed Governance Results for 85-104 Alawa Pl:
- The governance results are back for the owner-proposed governance vote.
- The winning vote is:
- Accept the loan terms and proceed to carry the loan to maturity.
- This voting option received 74% of the voting power in Round 1. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
- The voting results can be found on chain [here](https://allo.info/application/3389528061) or by searching the application ID: 3389528061
- **Property Update (12/28/2025)**
- Owner-Proposed Governance Vote for 85-104 Alawa Pl:
- An owner with the following [wallet address](https://allo.info/account/QLHXVHCNIZMCESQ4XNWXQCNXRVAB7GWQZNXCYQSSU7LDAEOLYPG4AHERPQ) is proposing a governance vote.
- This owner holds 78 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- On October 6, 2025, I (KD) secured a personal loan through a hard credit inquiry to enable the contractor to commence work immediately, including re-routing oil lines to accommodate the current appliance and new tank layout. Additional costs may be anticipated and will be billed later. The proposed loan to the DAO amounted to $5,540 (at origination, 10/6/2025), incorporating an approximate 3% origination fee as payment for the associated hard inquiry/ settlement on my personal credit. This loan carries a 17.9% interest rate over a 3-year amortization period, requiring approximately $200 in monthly payments, with 50% of the principal due by the 19th month to avoid a balloon payment. This represents a modest spread from the personal loan rate of 16.9%. As a long-term stakeholder in the property, actively contributing to mortgage payments, my incentives align with ensuring its success and continued rental viability. The purpose of this governance vote is to formalize the loan, allow the DAO to determine how this will be repayment and thereby sustaining the property's ability to generate rental income. The terms of the loan are provided in the attached [Document](https://www.dropbox.com/scl/fi/88uhml09mid17r8two909/Alawa-Sewer-PROMISSORY-NOTE.docx?rlkey=ar3x4qh8xd1f35toq7eyvpwab&st=tos869qw&dl=0) and questions can be answered in the appropriate discord channel.
- The proposed voting options are as follows:
- Accept the loan terms and proceed to carry the loan to maturity.
- Request the ULD to refinance the loan, with a fallback to the second-placed option if unsuccessful.
- Have a DAO member back and refinance the loan.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, December 30th, once the voting period ends.
- **Property Update (08/26/2025)**
- Owner-proposed Governance Results for 85-104 Alawa Pl:
- The governance results are back for the owner-proposed governance votes.
- The winning vote is:
- Option 3: DAO-Member backed Capital Call
- This voting option received 63% of the voting power in Round 1. This is a co-ownership property, which means the governance mechanism used the [scaled governance calculations](https://loftyai.notion.site/Governance-Mechanism-For-Partial-Property-Sales-e74b184f52124e219c320bb61b2b89b8) as opposed to the default of 1 token equals 1 vote.
- The voting results can be found on chain [here](https://allo.info/application/3184746332) or by searching the application ID: 3184746332
- **Property Update (08/21/2025)**
- Owner-Proposed Governance Vote for 85-104 Alawa Pl:
- An owner with the following [wallet address](https://allo.info/account/QLHXVHCNIZMCESQ4XNWXQCNXRVAB7GWQZNXCYQSSU7LDAEOLYPG4AHERPQ) is proposing a governance vote.
- This owner holds 64 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- 85-104 Alawa Governance Vote:
- 85-104 Alawa Capital Call to Pay Furnishing Expenses
- Furnishing Expenses:
- Furniture: $6,667.78
- Vendor Labor (Person 1): $3,525
- Vendor Labor (Person 2): $2,138
- - Total Expenses in excess of OR: $4,598.97
- Capital Call Summary
- A previous $7,000 furnishing loan (15% APR, 12 months) was approved in June 2025, with two months paid to Solum Algo as of August 15, 2025. The remaining balance is being repaid via Net Operating Income (NOI). New expenses arising from utilities bills and shortage for furnishing, make-ready, & repairs labor.
- Proposed DAO Ranked Choice Voting Options:
- To address the new capital call, DAO members are invited to vote on one of three options:
- Option 1: Hard-Money Loan
- Fund the DAO a loan, for the total balance of $4,598.97, at hard-money lender rates; 18% interest rate compounded monthly, repaid via NOI within 8 months.
- Option 2: Dilutive Equity Raise
- Authorize the issuance and sale of 79 Alawa tokens @ $60/token via limit order, diluting the total supply of the tokens.
- Option 3: DAO-Member backed Capital Call
- A DAO-member(s) may reply to the governance vote to cover the total capital balance of $4,598.97 at lower rates and terms than the original backer.
- Option 4: Status Quo
- 100% of net cash flow for the next 4+ months until the loan is paid back in full.
- Recommendations
- Option 3 Consideration: DAO-members may propose a more competitive lending rate.
- Conclusion
- The $4,598.97 in cleared (prepaid) expenses reflects our dedicated management to covering the DAOs expenses before utilities are impacted or tenants experiences are soured, but this capital call requires action from its DAO-members to formalize a decision amongst members. I recommend Option 1 which balances debt reduction with financial stability.
- Moving forward, Earl was able to secure a new vendor which lowered propane costs from $9.50 to $5.70 per gallon. However, gas-powered appliances: dryer (our least energy-efficient appliance), hot water heater, and stove, are costly. We’re exploring a conversion to fully electric appliances to reduce expenses in the near future, we do have solar to offset these.
- Rank Choice Voting Options:
- Option 1: Hard-Money Loan
- Option 2: Dilutive Equity Raise
- Option 3: DAO-Member backed Capital Call
- Option 4: Status Quo
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, August 26th, once the voting period ends.
- **Property Update (08/19/2025)**
- Owner-proposed Governance Results for 85-104 Alawa Pl:
- The governance results are back for the owner-proposed governance votes.
- The winning vote for "Room Rental Discount for orphaned days (<30 days sandwiched between two existing mid-term stays)" is:
- 40% discount (~$33.80 per night)
- This voting option received 63% of the voting power in Round 3. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
- The voting results can be found on chain [here](https://allo.info/application/3177781270) or by searching the application ID: 3177781270
- The winning vote for "Room Rental Discount for Stays >= 30 Days" is:
- 20% discount (~$45.07 per night)
- This voting option received 60% of the voting power in Round 3. This is a co-ownership property, which