In 2012, the Office of Hawaiian Affairs received 10 parcels of prime real estate in Kakaako Makai. The properties, valued at $200 million, constituted payment of a longstanding debt owed by the state to Native Hawaiians.

But owning land is one thing; putting it to good use is something else altogether. For OHA, that means developing the land to its maximum potential to meet its core mission of improving the well-being of Native Hawaiians.

For the moment, that maximum potential does not include residential development — a problem for OHA, which argues that it cannot generate revenues “consistent with the rate of return expected for a $200 million investment” without building residential.

But the Legislature wisely prohibited such development in 2006, after Alexander & Baldwin’s attempts to erect two high-rise condominiums in the area met with fierce opposition. OHA accepted the 10 parcels with full knowledge of the restriction. Even so, it continues to lobby the Legislature to reverse course.

This year, it’s Senate Bill 1334, which would allow six of OHA’s lots to include residential development, with high-rises on two of them.

OHA says that the bill would “create parity for OHA with … mauka landowners, by affording this Native Hawaiian-serving agency the same land use options for its parcels as those enjoyed by its mauka neighbors.”

However, along the corridor where OHA would build, there’s a big difference between mauka and makai. The Legislature has long recognized the unique worth of Hawaii’s coastlines, including publicly owned land makai of Ala Moana Boulevard, stretching from Magic Island to Kakaako Waterfront Park. Full public access and enjoyment of the island’s shores — including the spectacular views — have a fundamental value.

OHA envisions “integrated, mixed-use projects that create a Hawaiian sense of place, incorporate culture and commerce, and draw our communities to this revitalized urban Honolulu area.”

It’s a good vision. And OHA certainly has the right — the obligation, really — to develop its properties for the good of those it serves. But 400-foot towers, akin to the private luxury condos across the street, are beyond the pale. In exchange for short-term profit, they would forever close off the opportunity to transform a precious public space into a vibrant gathering place for generations to come. It’s just not in the public interest.