The core business of the Board is land-based asset management of the properties vested in the Papawai and Kaikōkirikiri Trusts Board. The Board leases the Papawai Farm in Greytown and the Hikurangi Farm in Clareville, Carterton. Both properties are used as dairy support. The Kaikōkirikiri lands in Masterton are leased as a mix of rural farming and industrial rental properties. From the Trusts assets, the Board provides educational funding through scholarships and grants to post-primary students. Papawai and Kaikōkirikiri Trusts Board will continue to protect in perpetuity lands that are historically significant and will connect whānau and communities to the land through outreach programmes and education scholarships and grants.