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Kan Jung Luke, self-made millionaire banker, industrialist, real estate entrepreneur and teacher, died Saturday in Honolulu. He was 86. Memorial rites
Tuesday for entrepreneur
Kan Jung LukeOne of his greatest coups was
buying the Damon Tract in
the airport areaOBITUARIES
By Helen Altonn
Star-BulletinHe was chairman of the board of Hawaii National Bancshares, Inc., founder and chairman emeritus of Hawaii National Bank, and a member of numerous business, military, community and civic groups.
Luke was born in North Kohala, the youngest of 13 children of Chinese immigrants. He worked in his parents' grocery store and bakery as a youth, leaving the Big Island to attend St. Louis School in Honolulu.
He said in interviews over the years that he knew he would have to work hard to get ahead. "The United States is a place where a fellow can start with nothing and make a success of himself," he said.
He earned a bachelor's degree from the University of Hawaii in 1936 and an MBA from the Harvard School of Business in 1938. He was a major in the U.S. Army from 1942-46, then opened a bookkeeping office in Honolulu and began lecturing part time at UH.
He became known as Hawaii's millionaire schoolteacher, teaching corporation finance and business administration for 22 years.
His first major purchase was a restaurant and bar across from the Army-Navy YMCA in downtown Honolulu in 1940.
In 1956, Luke and partner Clarence T.C. Ching pulled off what has been called one of the greatest coups in the history of Hawaii land sales. They bought the 233-acre Damon Tract in the airport area for $4.5 million with just $100,000 down. The purchase stirred controversy, with some protests that Luke stole the tract out from under the Hawaiian Aeronautics Commission.
By then, Luke and his partners already owned other property, including in Waikiki, and he continued to build his real estate holdings. But he still taught, telling his students to "analyze" and "never be a conformist." The most important ingredients for success, he said, are imagination and willingness to work.
Although he called himself a public accountant, his interests were far more reaching. He created Loyalty Associates, a real estate investment partnership, and Loyalty Investments, then co-founded Loyalty Enterprises, a management servicing company. He also co-founded Loyalty Development Co. Ltd. and Moanalua Terrace Associates, and helped to organize the International Development Co.
Luke also supported education, including establishing the Luke Center for Chinese Studies at Punahou School, the Luke Chair of International Finance and Banking at UH and a student center at St. Louis School.
For relaxation he enjoyed photography, power tools, working with his hands and playing poker.
Survivors include his wife, Beatrice; son, Warren K.K. Luke; daughters, Loretta Luke Yajima, Sharlene Luke Mau and Janice M.T. Luke Loo; and 13 grandchildren.
A memorial service will be held at 3 p.m. Tuesday at the Community Church of Honolulu, 2345 Nuuanu Ave. Friends may call at 1 p.m. Aloha attire.
In lieu of flowers, donations may be made to the church, the Rehabilitation Hospital of the Pacific or the Children's Discovery Center.