Meanwhile, the Office of Hawaiian Affairs — custodians of what assets the state has designated for Native Hawaiian benefits — is contemplating a "Plan B" strategy, as it should.

The question is: Will that strategy really make trust funds for Hawaiian programs safer than they are today?

OHA attorneys are reviewing a proposal to create a nonprofit limited liability company (LLC) in which to transfer some of the assets, an idea being pursued by OHA trustee Oswald "Oz" Stender. Stender said this might offer some protection for Hawaiian funds that in theory could be challenged legally and withdrawn.

Of course, OHA has prevailed in such challenges so far, which suggests there is another motive. Stender said it is this: An LLC would be able to pursue real estate and other investments more in the manner of a business, with a measure of privacy that the state's sunshine law wouldn't allow.

This ought to at least give pause to a Native Hawaiian beneficiary, who should have the information needed to hold investors accountable.

They need to watch OHA in the next month, when this project is likely to come to open discussion, and ask how and by whom the nonprofit would be run. A Plan B is a useful concept, but the devil is in the details here.