Last season, Kaikai joined MK Dons in the January transfer window on a six-month deal as a free agent.
He quickly established himself as a regular in the starting eleven and made 14 appearances while netting two goals.
Kaikai could not help MK Dons to survive in League One and they were relegated, with manager Mark Jackson paying the price and the club turning to Graham Alexander.
The Dons have offered a contract extension to Kaikai, but the player has yet to accept the club’s proposal.
It has been claimed that two unnamed League One clubs are interested in securing Kaikai’s signature this summer.
The MK Dons boss wants Kaikai to decide on his future this week as the club are preparing themselves for life in League Two following their relegation last season.
It remains to be seen what lies ahead for the 27-year-old in the future and whether MK Dons will be able to keep him next season.