How did King George Tupou V reduce the monarchy's political power?

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King George Tupou V reduced the political power of the monarchy through two primary actions following his accession to the throne:

Divestment of State Assets: He began divesting himself of ownership in many state assets that comprised a significant portion of the monarchy's wealth, a process completed before his coronation in August 2008.1
Cession of Absolute Power: He announced the surrender of much of the monarchy's absolute authority. Under this change, most of the monarch's governmental decisions—with the exception of those concerning the judiciary—were required to be made in consultation with the prime minister.1

These reforms were part of a broader transition toward a more democratic system in Tonga, following years of pressure from the country's pro-democracy movement.1