TEAM
Patti Tancayo
Principal
EDUCATION
Molokai High School
Bachelor of Business Administration
Chaminade University of Honolulu
Dean Hutter Award for Most
Outstanding Woman in Business
Patti Tancayo is a seasoned professional in the realm of community and housing development, with over 35 years of experience under her belt. Specializing in crafting opportunities for low-income families in Hawai`i, Patti has contributed significantly to a number of key projects, where her dedication to nurturing communities and encouraging sustainable economic growth is evident.
Having effectively utilized low-income housing tax credits to spearhead various projects, her endeavors have accumulated investments surpassing $500 million. Patti’s portfolio includes a wide range of housing initiatives, from single-family to multi-family and mid-rise developments, illustrating her comprehensive understanding of the housing sector and the diverse needs of Hawaii’s communities.
During her significant tenure with OHA, she forged vital partnerships with major financial entities including Fannie Mae, First Hawaiian Bank, and Bank of Hawaii. These collaborations paved the way for notable housing programs, including the OHA 103 $100 million secondary mortgage initiative, marking a pivotal movement in housing development strategies in the state.
In her role, Patti maintains a hands-on approach, diligently overseeing every aspect of development projects from inception to completion and lease-up. Her practical experience combined with strategic foresight has positioned her as a respected figure in Hawaiian economic development, passionately advocating for the welfare and growth of all residents in Hawaii.
Christopher Flaherty
Principal
EDUCATION
Bachelor of Science, Business Administration
California State University at Fresno
Christopher Flaherty is Chairman and CEO, of 3 Leaf Holdings, Inc., a Hawaii Corporation and small family office. Flaherty’s experience over the past 25 years includes development in apartment, commercial/retail and single family, condo and townhome residential and hotel properties in Hawaii, California, Texas and Arizona. He and his related holdings have developed and or acquired over 2,000 residential units to date in 4 states along with over 200,000 square feet of commercial/retail properties.
Mr. Flaherty is a Co-Managing partner of Ikenakea Development, LLC, DFA Development, LLC, Pupukahi Development, LLC, a co-managing partner in Ho‘okahua Development, LLC, a co-managing partner in Laulima Development, LLC, co-managing partner in WXSW, Inc., a Texas LLC and Ikenakea Hokele, LLC and also currently the majority shareholder of Trinity Development & Construction, Inc., a Hawaii and California general contracting company.
Flaherty’s expertise in development and construction has allowed him to orchestrate every phase of a development project, from site selection to assessing environmental impacts and working through financing options and land entitlements. Chris’ expertise in understanding the capital markets and the utilization of financing from low-income housing tax credits, tax-exempt bonds and conventional financing structures has enabled him to close in excess of a half a billion dollars in capital transactions for his projects in which he a sponsor. Chris Flaherty commits himself to every project by taking a hands-on approach throughout all phases of development. Chris is also a founding member of Terra Massa Capital, LLC, which was founded in 2019 and provides capital structure solutions and investment management to his projects. Terra Massa Capital has also undertaken the underwriting and asset management of the projects that Mr. Flaherty is involved. Terra Massa Capital has also helped in raising both debt and equity for many of his projects as well, including the 240 room downtown Chinatown Hotel in Honolulu, Hawaii.
Chris’ first development project in Hawaii was in partnership with Hawaiian Community Development Board’s, Kali Watson, on a Department of Hawaiian Homelands lease for the Nanakuli Village Center for the Nanakuli Hawaiian Homestead Community Association which was completed in 2019 after 10 long years in the planning.
Keegan Flaherty
Senior Development Associate
EDUCATION
Bachelor of Science, Agricultural Business
Cal Poly San Luis Obispo
Minor, Real Property Development
Keegan is a Development Associate at ‘Ikenākea Development LLC and supports the team’s efforts on projects in Hawaii. At the project level, he helps take projects through the development process from inception to stabilization. This includes managing the due diligence, underwriting, design, public approval process, environmental planning, entitlement and permitting, closing, and asset management of the company’s projects.
Prior to working at ‘Ikenākea Development, Keegan graduated from Cal Poly, San Luis Obispo and studied Business and Real Property Development. He is a member of NAIOP’s Developing Leaders in Hawaii.
Nainoa Watson
General Counsel
EDUCATION
B.A. International Relations Global Business
University of Southern California
Juris Doctor from the University of Hawaiʻi at Mānoa
Nainoa Watson is General Counsel of ‘Ikenakea Development LLC and is responsible for providing strategic advice and legal support for all aspects of the business. Prior to joining ‘Ikenakea, Nainoa worked as an attorney for five years at a Honolulu based law firm, where he focused his practice in the areas of real estate and commercial transactions. While in private practice, he was selected to The Best Lawyers in America©: Ones to Watch list in the areas of Business Organizations (Including LLCs and Partnerships), Construction Law, and Real Estate Law.
Nainoa is a graduate of Punahou School, earned his undergraduate degree from the University of Southern California, and his Juris Doctor from the University of Hawaii, William S. Richardson School of Law, graduating with honors. He also holds a Commercial Real Estate Certificate from Cornell University. He is admitted to the Hawaii Bar and is a member of the Hawaii State Bar Association.
Alicia Ruelke
Senior Development Associate
EDUCATION
University of Hawaiʻi at Mānoa
Bachelor of Business Administration, Finance
Alicia Ruelke is a Development Associate at 'Ikenākea and supports the team with entitlement and environmental compliance, contributing to supporting sustainable development initiatives. A proud Native Hawaiian, Alicia graduated from Kamehameha Schools and holds a BBA in Finance from the Shidler College of Business at the University of Hawaiʻi at Mānoa. Before joining ʻIkenākea, she was the Spa Director at the Bay Club Redwood Shores.
