In this exclusive interview, we explore the extraordinary journey of Duke Kimhan, the Broker-Owner of Hawaii Pacific Property Management, as he carved his niche in the dynamic realm of property management. Discover the inspirations behind his exclusive focus on property management, the challenges he conquered, and the innovative strategies that set his company apart.
Pioneering Exclusive Property Management
Duke Kimhan’s venture into property management was a deliberate choice, breaking away from the traditional trajectory of real estate sales. Recognizing the intricate nature of property management, he embraced the challenge, dedicating himself exclusively to this field over 15 years ago. By doing so, Kimhan strategically separated himself from realtors who dabbled in property management part-time, positioning Hawaii Pacific Property Management as a unique player dedicated to offering unparalleled service.
Overcoming Challenges in Maintenance Management
In the early stages, Kimhan encountered a significant challenge in handling a myriad of maintenance issues. To address this, he established a dedicated maintenance department within the first year, ensuring prompt responses to tenant inquiries and property issues. Today, with over 100 properties under management, the company efficiently handles 80-100 maintenance-related calls weekly, streamlining operations and enhancing customer satisfaction.
Technological Evolution in Property Management
Remaining at the forefront of the industry requires staying ahead of technological advancements. Kimhan emphasizes the transformative impact of technology on property management, highlighting innovations such as automated rent collection, digital contracts using DocuSign, and efficient banking processes. Embracing these technological advancements has allowed Hawaii Pacific Property Management to provide seamless and efficient services, adapting to the ever-changing landscape.
Words of Wisdom for Aspiring Entrepreneurs
For aspiring entrepreneurs seeking success in their industries, Kimhan’s advice is simple yet profound: passion is paramount. He underscores the importance of genuinely loving what one does, as this passion becomes the driving force to outwork and outthink the competition. Kimhan’s success mantra revolves around the principle that if the work is not a ‘want to,’ it should not be pursued as a ‘have to.’
Innovative Guarantees and Unconventional Approaches
Duke Kimhan prides himself on introducing three unique guarantees in his property management contracts – Communication Guarantee, Rent Guarantee, and Eviction Guarantee. Setting himself apart from competitors, he conducts scheduled walkthroughs of properties, maintaining open communication with owners and providing a personalized touch in a traditionally transactional industry.
Navigating Industry Trends and Future Outlook
As the real estate market undergoes transformations, Kimhan observes the impact of rising interest rates on investors. Despite challenges, he notes that the property management side remains robust, as more people turn to renting during uncertain market conditions. Kimhan anticipates a continued demand for property management services regardless of the market fluctuations.
Fostering a Culture of Innovation
In the ever-evolving tech landscape, Kimhan encourages a culture of innovation within his organization. His younger staff members actively share new tech developments, showcasing how these tools can streamline processes and save time. Embracing a tech-forward mindset ensures that Hawaii Pacific Property Management stays ahead of the curve in delivering efficient services.
Influence and Mentorship
Reflecting on his journey, Kimhan acknowledges the influence of great leaders in the restaurant industry and accomplished sales professionals in real estate. Their common trait of relentless determination and the pursuit of greatness inspired him to seek a field where he could achieve top-level income without sacrificing work-life balance.
Pride in Internal Success
While accolades and awards have adorned Hawaii Pacific Property Management over its 25-year history, Kimhan’s proudest achievement lies in the internal success of his team. Witnessing employees thrive personally and professionally, with over 700 positive reviews across various platforms, surpasses any external recognition. The enduring growth of the company and the prosperity of its people stand as testaments to Kimhan’s leadership and commitment to excellence.
In conclusion, Duke Kimhan’s journey in property management exemplifies a commitment to excellence, innovation, and a genuine passion for the industry. His story serves as an inspiration to aspiring entrepreneurs and a testament to the transformative power of dedication and forward-thinking in the dynamic world of property management.
