As historic as the Kalakala may be, it's time to melt it down and turn it into razor blades. As a vessel, it was actually pretty crappy, no better than the burned out SFO ferry boat it once was. It's only real claim to fame was its Boeing-engineer-designed, art-deco superstructure.
The only way this hulk could ever be restored is through government funding and we already have more than enough things worthy of government funding. Perhaps a better fate than razor blades for the Kalakala would be to sink it as a fish habitat and diver destination.
But one way or the other it's long past time to get rid of it.