How Punahou School Grew Its Endowment 5x — From $100M to Nearly $500M

In this exclusive conversation, Noelehua Lyons, Vice President for Institutional Advancement of President Obama’s alma mater shares the strategy behind transformative endowment growth from fundraising discipline to investment alignment.

Every institution wants sustainable endowment growth.

Few achieve it at scale.

What makes the difference?

  • A clearly defined long-term strategy
  • Alignment between development, leadership, and investment oversight
  • Governance discipline that sustains momentum

In this candid interview, you’ll hear how Punahou built a system that allowed growth to compound — and what other institutions can apply immediately.

Inside the conversation:

  • How Punahou harnessed their mission to scale to nearly $500M in assets
  • The fundraising frameworks that unlocked transformational gifts
  • Key lessons and missteps to avoid ‍

This is practical insight from leaders who executed at scale.

This interview is designed for:

  • Board Members
  • Nonprofit Executives
  • Development and Advancement Teams
  • Finance and Investment Committee Members

If you’re responsible for institutional growth, this conversation will resonate.


With a background in law and finance, Aaron brings a unique perspective to nonprofit leadership and governance. He is a licensed attorney in both Florida and New York and an active member of the Florida Bar Association and New York Bar Association. He serves as Chairman of SEHEI, a 501(c)(3) shared housing initiative, and is a board member of the Planned Giving Council of Northeast Florida, furthering his commitment to philanthropic strategy and legacy giving.

Beyond his advisory work, Aaron has a strong entrepreneurial background. He co-founded ClickPay, which grew to become the largest payment processor in the real estate industry before its successful acquisition by RealPage in 2019. His ability to build, scale, and navigate complex financial landscapes offers invaluable insights to the nonprofit sector.