All steps required for K5 (PW included) localization were found and automatized long ago.
ixtab lost his interest in localization just because Amazon introduced official German localization (I suppose so), but at that moment there weren't any unsolved technical problem in unofficial l10n process. So read the topic (
https://www.mobileread.com/forums/sho...d.php?t=162654) and get the tools (
https://bitbucket.org/katey_hack/kindle-touch-l10n/).