The foundation, established in 1979, manages the lands left by Queen Emma and other property owned by the Queen's Health Systems. Its goal with regard to International Market Place is to substantially increase income from the well-known property to perpetuate its healthcare mission.

Once the location of Queen Emma Kaleleokalani's historic garden retreat, the popular International Market Place will be recreated and expanded by 50,000 sf and serve as the "Civic Square" of Waikiki. The marketplace was established in the 1950's by Donn Beach as an "authentic Hawaiian Village" to complement his popular "Don the Beachcomber" restaurant.The redevelopment plan calls for a series of individual pavilions surrounding an historic garden open space with a restored Apuakehau stream running through it. Several Banyan trees will serve as landmarks in the garden, shading an amphitheater for traditional live performances, a hula mound and a storytelling hearth for children. The largest pavilion will serve as a Dining Hall, with open kitchens and communal dining.

Local entrepreneurs and mainland merchants in smaller pavilions will be joined by a farmers market, complete with demonstration outdoor kitchen, a Pacific Island crafts market, an open-air wedding chapel pavilion, a wide variety of Hawaiian lifestyle retailers, open air restaurants, alfresco cafes and entertainment lounges.