Hawaii is not a community property state and there may have been no step up in basis depending upon how the trusts were designed.
If no depreciation was deducted, then a Form 3115 can be filed to adjust for the foregone depreciation.
However, if the wrong basis was used, that can only be resolved by filing amended returns.
Since this scenario involves two different trusts, you should really consult a local tax professional and/or legal counsel.
