Why Not a King?

The President of the Republic of Kazakhstan is up for re-election. He has held the position for 26 years, but seeks another five year term. Why not declare oneself a king and make a constitutional monarchy out of the country instead? I guess he believes he would lose some of his power that way, but I believe he would become more well respected throughout most of the world. Being re-elected over and over as a president is just a farce, sitting tight as a king is respect.