SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 15

Certificate and Notice of Termination of Registration under Section 12(g) of the
      Securities Exchange Act of 1934 or Suspension of Duty to File Reports
      Under Sections 13 and 15(d) of the Securities Exchange Act of 1934.

                         Commission File Number 0-30444

                                  Kahala Corp.
             (Exact name of registrant as specified in its charter)

                        7730 E. Greenway Road, Suite 104
                              Scottsdale, AZ 85260
                                 (480) 443-0200

    (Address, including zip code, and telephone number, including area code,
                  of registrant's principal executive offices)

                         Common Stock, par value $0.001

            (Title of each class of securities covered by this Form)

                                      NONE

  (Titles of all other classes of securities for which a duty to file reports
                     under section 13(a) or 15(d) remains)

Please place an X in the box(es) to designate the appropriate rule  provision(s)
relied upon to terminate or suspend the duty to file reports:

         Rule 12g-4(a)(1)(i)   [X]         Rule 12h-3(b)(1)(ii)  [ ]
         Rule 12g-4(a)(1)(ii)  [ ]         Rule 12h-3(b)(2)(i)   [ ]
         Rule 12g-4(a)(2)(i)   [ ]         Rule 12h-3(b)(2)(ii)  [ ]
         Rule 12g-4(a)(2)(ii)  [ ]         Rule15d-6             [ ]
         Rule 12g-3(b)(1)(i)   [ ]

Approximate number of holders of records as of the certification or notice date:
46

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  Kahala
Corp.  has caused  this  certification/notice  to be signed on its behalf by the
undersigned duly authorized person.

DATE: March 24, 2003                BY: /s/ David Guarino
      ------------------------          ----------------------------------------
                                        David Guarino
                                        Vice-President & Chief Financial Officer

INSTRUCTION:  This  form is  required  by Rules  12g-4,  12h-3  and 15d-6 of the
General Rules and  Regulations  under the  Securities  Exchange Act of 1934. The
registrant  shall file with the Commission three copies of Form 15, one of which
shall be manually signed.  It may be signed by an officer of the registrant,  by
counsel or by any other duly authorized person. The name and title of the person
signing the form shall be typed or printed under the signature.