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To start Sakai correctly, please set the variable JAVA_OPTS with:

JAVA_OPTS="-server -Xms512m -Xmx1024m -XX:PermSize=128m \
-XX:MaxPermSize=512m -XX:NewSize=192m -XX:MaxNewSize=384m \
-Djava.awt.headless=true -Dhttp.agent=Sakai \
-Dorg.apache.jasper.compiler.Parser.STRICT_QUOTE_ESCAPING=false \
-Dsun.lang.ClassLoader.allowArraySyntax=true"

Now you should start your Tomcat server and browse with:
   http://your-server:8180/portal

Login into the Sakai system with the user/admin and password/admin
to configure and setup the system.

More install information please visit:
http://confluence.sakaiproject.org/display/DOC/Install+Guide+-+Binary+Install+(2.7)