HONOLULU - Prime property in Honolulu is taking a step towards development.

Back in 2012, in a settlement with the state, OHA acquired 30 acres of land in Kakaako Makai, valued at $200 million.

OHA has been working to develop a master plan for that area, striving to find a balance between commerce and culture.

"What we do here is so important. Not just what we put here, but the monies that are going to be generated. That's going to be put back into our community, right back to protecting lands, and providing services for our beneficiaries," Stirling Wong with OHA's Public Affairs said.

OHA's first of eight scheduled public meetings seeking community input started Thursday night. 

"We have to show a lot of the things that we've been demanding of other developers and one of which is strong community involvement," Miles Nishijima, OHA's Land and Property Director said. 

The area where Fisherman's Wharf once stood, OHA would like that to be their first step in development. 

After that is built, Kakaako Makai is projected to generate close to $16 million annually.

"At this stage, the decision has been made to basically proceed with the programmatic EIC (environmental impact study) with only the existing entitlement," Nishijima said. 

ZONIG for OHA's land allows for commercial use but not residential development with height limits ranging from 45 to 200 feet. 

OHA would like to create a place where Hawaiian values can flourish with a planned community embracing life, work and play ideals.

"They definitely wanted a place that they can call their own. Hawaiians definitely want a place that we can be proud of, where we can come to and say this is our home," Wong said.

There will be three more public meetings here on Oahu. The next will be Tuesday, May 23 at the Kupu Net Shed at Kewalo Basin at 6 p.m.

Community meetings will also happen on Maui, Kauai and the Big Island. See our 'as seen on' section for those dates.

Actual construction of the first phase won't happen until a few more years.