Hawaii Hospital Needs Federal Permission for $16M Self-Deal
Published Date: 11/26/2025
Notice
Summary
Hawai'i Pacific Health’s retirement plan wants to sell a piece of property to its own hospital, Straub Clinic, for at least $16.25 million or more. Normally, this kind of sale isn’t allowed by law, but the Department of Labor is thinking about giving a special okay to make it happen. If approved, the deal kicks in as soon as the exemption is published, and people have until January 16, 2026, to share their thoughts or ask for a hearing.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Plan may sell land to Straub for $16.247M+
The Department of Labor is proposing to allow the Hawai'i Pacific Health Retirement Plan to sell the parcel at 888 South King Street to Straub for at least $16,247,000 or 110% of the Appraised Value on the date of sale. The Plan has 8,513 participants and $451,900,283 in net assets (as of December 31, 2023); the Sale must be a one-time lump-sum cash payment and, if the exemption is granted, must occur within 60 days of the exemption's publication.
Straub must repay past expenses and excise taxes
Before the Sale can proceed, Straub must repay the remaining Property Expenses the Plan erroneously paid from 2006 through 2014 (approximately $180,185) plus lost interest as calculated using the Department's VFCP Calculator. Straub also must pay the IRS the legally required excise tax for prohibited transactions from 2006 through 2022 (payment to the IRS need not occur before the Sale, but failure to pay after a final determination can render the exemption retroactively void).
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-11140 — Federal Independent Dispute Resolution Operations
Starting soon, health plans and insurers must share clearer info when they pay or deny surprise medical bills. They’ll use special codes to explain these decisions, especially when dealing with folks they don’t have contracts with. This helps patients and providers understand bills better and speeds up fixing disputes, with no extra costs for most people.
2026-05492 — Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur
The court has canceled the Department of Labor’s 2024 rule that changed who counts as a trusted investment advisor for retirement plans. Starting April 20, 2026, the old rules from 2020 will be back in charge, affecting financial advisors and retirement plan managers. This means advisors should review their practices to stay on the right side of the law and avoid costly mistakes.
2025-14281 — Pooled Employer Plans: Big Plans for Small Businesses
Small businesses get a big boost with new guidance on pooled employer plans (PEPs), which help them offer better, cheaper retirement savings options. The government is asking for feedback to create clear rules that make joining these plans easier and more affordable. Starting soon, these changes aim to save workers money and help small employers attract great employees.
2026-11222 — Exemption for Certain Prohibited Transactions Involving the Goldman Sachs Group, Inc. (Goldman) Located in New York, New York
Starting June 9, 2026, and lasting five years, certain Goldman Sachs asset managers in New York can keep using a special exemption despite past legal issues. This helps retirement plans work smoothly with Goldman managers while making sure they follow important rules and act responsibly. If plans want to stop working with Goldman, they can do so without big costs or problems.
2026-11063 — Proposed Exemption Involving the Abiomed Retirement Savings Plan Located in Danvers, MA
The Abiomed Retirement Savings Plan in Danvers, MA, wants permission to hold special financial rights called contingent value rights (CVRs) and get payments from them. Without this okay, these moves would break some important retirement rules. If approved, the exemption starts retroactively from November 15, 2022, and folks have until July 20, 2026, to share their thoughts or ask for a hearing.
2026-11134 — Proposed Exemption Involving the International Brotherhood of Electrical Workers Local Union No. 99 Joint Apprenticeship Training Committee Fund (the Fund) Located in Cranston, Rhode Island
The International Brotherhood of Electrical Workers Local Union No. 99 Fund in Rhode Island wants to buy property from their own Realty Corporation, which usually isn’t allowed under the rules. If approved, this deal could save the Fund about $45,000 every year. People have until July 20, 2026, to share their thoughts or ask for a hearing before the exemption takes effect.
Previous / Next Documents
Previous: 2025-21194 — Agency Information Collection Activities; Submission to the Office of Management and Budget for Review and Approval; Comment Request; Generic Clearance for Federal Student Aid Customer Satisfaction Surveys and Focus Groups Master Plan
The Department of Education’s Federal Student Aid office wants to update its plan for collecting feedback through surveys and focus groups to make sure students get better service. This affects millions of students and families who use federal student aid, with about 8 million responses expected each year. They’re asking for public comments by December 26, 2025, to keep things clear, useful, and easy for everyone involved.
Next: 2025-21196 — Proposed Exemption From Certain Prohibited Transactions Involving Liberty Latin America 401(k) Savings Plan (the Plan or the Applicant) Located in Denver, CO
Liberty Latin America’s 401(k) Plan in Denver wants permission to buy, hold, and sell some special stock rights it got back in September 2020. Without this okay, these moves would break the rules. If approved, the exemption covers actions from September 10 to 25, 2020, and folks have until January 2, 2026, to share their thoughts or ask for a hearing.