Hawaii Business Magazine August 2022

TOP

L O C A L LY O W N E D , L O C A L LY C O M M I T T E D SINCE 1955

HARD TIMES AND HOPE FOR WORKING FAMILIES P. 49

PLUS INSIDE TH E MINDS OF BUSINESS LE A D E R S P. 117

1- AND 2 -WH E E L S GO E LEC TR I C P. 112

H AWA I ‘ I ’ S TO P PA I D S PO R T S S TA R S P. 40

TOP 25O Ranking Hawai‘i’s Largest Companies and Nonprofits P. 57

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S PEC I A L PR O M OT I O N A L S ECT I O N ‘ AI N A PA U A H I : AC T I VAT I N G C O M M U N I T Y

The Neighborhood's Heartbeat

Honolulu Night Market brings people from across O‘ahu for great food and entertainment, supporting our local businesses and the economy.

T H E H E A LT H A N D V I TA L I T Y O F T H E L A N D as well as the well-being of

the lāhui are the focus of Kamehameha Schools’ commercial endeavors.

The largest landowner in the state, Kamehameha Schools actively uses about 1,000 acres of its total 365,000 acres for commercial purposes, including retail, hospitality and residential. With the understanding that every community is unique, Kamehameha Schools strives to bring economic stability while providing vibrant commercial centers, such as Salt at Our Kaka‘ako.

“That commercial center really seeded the community because what it did is provided the residents nearby an opportunity to have a place to dine, place to shop, and a place to gather,” says Serge Krivatsy, senior director of planning and development in Kamehameha Schools’ commercial real estate division. Residents can walk to restaurants, coffee shops, and retails stores, and it is home to thriving community events.

A prime example of an urban island community, Salt at Our Kaka‘ako is the heartbeat of Kaka‘ako, where residents are able to live outside their four walls. They can work nearby, and the neighborhood essentially becomes the entertainment room, dining room and living room.

“It creates a lifestyle that people really seem to enjoy, and these commercial centers provide the amenity for that community,” says Krivatsy.

“Having a place to shop, dine, hang out, and gather helps seed a community for future residential development.”

- S E R G E K R I VAT SY, K A M E H A M E H A S C H O O L S ' C O M M E R C I A L R E A L E S TAT E D I V I S I O N

S PEC I A L PR O M OT I O N A L S ECT I O N

KAMEHAMEHA SCHOOLS

Commercial amenities unique to each place contribute to the vibrancy of the neighborhood Hale‘iwa Hale‘iwa Store Lots, an open-air retail center He‘eia Windward Mall, the gathering place for shopping, dining, and entertainment Kaka‘ako Salt at Our Kaka‘ako, an epicenter of shops, cafes and restaurants Kapa– lama Kapa– lama Center, Waiakamilo Industrial Center, and Dillingham Plaza offer grocery, industrial and retail businesses Waipahu Keawalau, an upcoming residential, retail and grocery destination

Our Kaka‘ako hosted Bark in the Park for pet workouts and wellness classes.

Patrick Ono POSITION: District Manager LOCATION: Nawiliwili, Hawaii DATE HIRED: Feb 27, 1997 NOTES: Operations expertise from years of managing teams across the western region. Passionate about fighting community hunger. Serves on Hawaii Foodbank’s Kauai Advisory Board. Arranged transport of the Foodbank’s new refrigerated truck to Kauai. Champions food drives and distribution events to support organizations like Nana’s House in Waimea.

Matson’s people are more than Hawaii shipping experts. They are part of what makes our community unique. Visit Matson.com

CELEBRATING 60 YEARS OF

Healthy Smiles & Local Roots Since 1962, Hawaii Dental Service (HDS) worked towards improving oral health and creating a lifetime of healthy smiles for Hawaii families. Today, as the leading dental benefits provider in the state, HDS serves more than a million residents in Hawaii, Guam, and Saipan. HDS continues to preserve the smiles of Hawaii families for a lifetime by creating a stronger, healthier future for our island communities.

HawaiiDentalService.com

Ho‘omaika‘i...

from one business to another.

Congratulations to John Morgan of Kualoa Ranch and all who are being recognized in the Hawaii Business Top 250.

HEMIC applauds every business owner who pushed through this past year and persevered.

You are an inspiration to so many.

IT’S A CAMPAIGN EVERYONE CAN BE PART OF

What you do is more important than what you say that you’ll do. To attract and engage the right people, employers must make meaningful investments in staff and community. Workplace Giving Campaigns are the perfect way to build your team around a common purpose and build strong relationships.

Learn what motivates people at your company, organize activities, events, and leadership challenges.

Make an Impact.

START YOUR CAMPAIGN TODAY! VISIT AUW.ORG OR EMAIL FUNDRAISING@AUW.ORG Aloha United Way has more than 100 years experience addressing community needs and engaging the community for positive change. As a nonprofit leader, we can guide you toward making the most powerful investment possible in our community.

Quality Care Close to Work If you work or live downtown, Straub Medical Center – Downtown Honolulu Clinic is a convenient location for your primary health care needs. From diagnosis and treatment of illnesses to routine checkups and immunizations, get the personalized care you need from a team dedicated to your health.

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Atlas Insurance Agency Hawaii’s Navigation Partner As the state’s largest insurance agency, we have been guiding our clients through all of life’s unexpected obstacles since 1929.

We are honored to be recognized as part of Hawaii Business Magazine’s Top 250 Companies and we look forward to continuing our commitment to the community! atlasinsurance.com | info@atlasinsurance.com | 808-533-3222 | 201 Merchant St., Ste. 1100, Honolulu, HI 96813

Introducing our ‘Ohana Class The new M/V George III and M/V Janet Marie will mark three generations of service to Hawaii, while representing the most technologically advanced and environmentally friendly vessels to serve the Hawaii/Mainland trade lane. Both vessels will operate fully on natural gas from day one in service, surpassing the International Maritime Organization (IMO) 2030 emission standards for ocean vessels.

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FEATURES

Iniki Galway, marketing manager of Ebikes Hawaii, says electric bikes have become “insanely popular among younger generations.”

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Tens of Thousands More Are Struggling The pandemic pushed many more local families to the financial edge.

Here’s some of what’s happening to help them create better lives.

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57

Top 250 Ranks Biggest Companies, Nonprofits Our annual list is an excellent guide to business in the Islands: which organizations and sectors are rising fast and who are the newcomers.

112

Our Guide to Electric Bikes, Scooters, More For short trips, one or two wheels can be better than four. For starters, you’ll reduce your carbon footprint and parking is a lot simpler.

117

Inside the Minds of Local Business Leaders BOSS Survey of 396 business owners and executives finds out about revenue, hiring, profits, inflation, minimum wage and much more.

128

Our Coasts: What’s the Most Important Use? The rising sea intensifies the debate over competing priorities for Hawai‘i’s shores: recreation, food gathering or real estate values?

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08.22

CONTENTS

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PHOTO: AARON YOSHINO

Parting Shot The nonprofit AccesSurf helps take people with disabilities into the water to swim, float and surf.

Hawaii Business Magazine Wins Five National Awards Among the honors are gold for our reporting on Honolulu rail and a bronze for best regional business magazine in North America.

24

Oceanitʻ’s Newest Innovation: Tiny Bits of Gold in Cosmetics To overcome the challenge of taking an invention to mass market, Oceanit partners with a Korean company looking to diversify.

32

Whatʻ’s Next for Hawaiian Airlines and Finance Factors CEO Peter Ingram talks about restoring flights and adding new ones, while CEO Russell Lau discusses a new generation of leaders.

26 & 28

Skydiving Instructor Has Jumped About 5,000 Times In our My Job column, Ben Devine says that instead of generating an adrenaline rush, flying at about 158 mph has “a calming effect on you.”

37

Hawai‘i’s Best Paid Athlete in 2022: NFL’s DeForest Buckner Learn the salaries of 28 local sports stars, including Tua Tagovailoa, Kolten Wong, Isaac Suemalo, Isiah Kiner-Falefa and Marcus Mariota.

40 Business Interruption Policy Insures for Loss of Income Kevin Kurosu of First Insurance Co. of Hawaii says this form of insurance means that a disaster won’t force your business to close its doors permanently.

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SPECI A L A DV ERTI SI NG SECTI ON S Improving Hawaii’s Health Kaiser Permanente addresses social factors that can compromise health by investing in Hawaii’s nonprofits, such as those that address veteran homelessness, children with higher needs, and underserved business communities.

43 Top 250 Profiles Profiles of important Top 250 companies – each a leader in its field.

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HAWAII BUSINESS (ISSN 0440-5056) IS PUBLISHED MONTHLY BY PACIFICBASIN COMMUNICATIONS. ©2022 PACIFICBASIN COMMUNICATIONS, LLC. ALL RIGHTS RESERVED. ANY UNAUTHORIZED COPYING, DISTRIBUTION, OR ADAPTATION IS STRICTLY PROHIBITED AND WILL RESULT IN LIABILITY OF UP TO $100,000. EDITORIAL, ADVERTISING AND BUSINESS OFFICES AT 1088 BISHOP STREET, SUITE LL2, HONOLULU, HI 96813. TELEPHONE (808) 534-7520. POSTMASTER: SEND ALL ADDRESS CHANGES TO HAWAII BUSINESS, P.O. BOX 913, HONOLULU, HI 96808. SUBSCRIBERS NOTIFY THE SAME OFFICE. PLEASE INCLUDE NEW ADDRESS AND OLD ADDRESS (MAILING LABEL PREFERRED) PERIODICALS POSTAGE PAID AT HONOLULU, HAWAI‘I, AND AT ADDITIONAL MAILING OFFICES. SUBSCRIPTION: ONE YEAR $24.99 / TWO YEARS $34.99 / THREE YEARS $44.99. FOREIGN: ONE YEAR $53.99 (US FUNDS). FOR SUBSCRIPTION INQUIRIES, ADDITIONAL RATES, INFORMATION, NOTIFICATION OF CHANGE OF ADDRESS AND SUBSCRIPTION SERVICE, PLEASE CALL (800) 788-4230. AUGUST 2022 VOL. 69/NO.1

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F R O M

A N

T H E

O P E N

E D I T O R

M IN D

The Best Guide to Business in Hawai‘i

T

TRACKS RESULTS BY SECTOR HE TOP 250 HAS ALWAYS BEEN

my essential guide to business in Hawai‘i. It probably should be yours too.

Like all the best guides, the Top 250 tells you the main facts quickly.

Want to know what the 20 biggest companies and nonprofits operating in Hawai‘i are, who’s leading them, and how successful they’ve been lately? The guide lets you know that in about 10 minutes or less.

But the list also rewards deeper reading by providing essential information about 250 organizations, their leaders, number of employees, and whether gross revenue was up, down or held steady across the last three years.

You see where you and your organization stand within the complex and ever-shifting business economy of the Islands. You see the big picture and vital details.

You learn about companies that just set up shop and others that have been around more than a century and a half. I read the Top 250 thoroughly when it’s being created and reference it often until a new edition appears 12 months later.

I have been covering news in Hawai‘i for 36 years – focusing mainly on business news for the past 14 – and yet I learn important new information with each list.

GETTING PEOPLE’S ATTENTION

Associate Editor Cynthia Wessendorf spends months compiling the Top 250.

“We appreciate that the Hawai‘i business and nonprofit community is willing to share financial results, which has helped us track companies and sectors for decades,” Cynthia says.

“That said, it grows increasingly hard to get people’s attention and get them to act to supply that information.

So much email clogs up everyone’s inbox that our survey emails often get lost or ignored.”

Follow-up phone calls add dozens more companies to the list each year, but inevitably some major organizations that want to be on the list get left off because they 18

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failed to respond to our emails and calls.

“Those companies can get touchy about falling off the Top 250,” Cynthia says.

If you want to ensure your company is on future lists, shoot an email to cynthiaw@hawaiibusiness.com and say: “Here’s my email and direct phone line. Contact me next year when you start your survey.” If it’s not you, supply the name, email and phone number of the contact person at your company and ask that person to create a calendar note to watch for the initial Top 250 survey email in March.

After compiling the list and checking it twice, Cynthia writes a fascinating overview story, which accompanies the list in this issue.

“I prefer to track results by sector, rather than who moved up a few places and who moved down. One exception is to highlight some anomalies in the list, though I don’t get to them all,” she says.

“Tracking by sector helps illuminate how outside forces affect the local economy and help propel/hurt individual companies. Some of it is common sense, but it can also pinpoint success stories, such as Matson’s.”

Matson has been slowly rising on the Top 250 since it separated from Alexander & Baldwin in 2012. It ranks No. 2 on this year’s Top 250 – its highest rank ever – and Cynthia highlighted its success in her story.

“We highlighted Matson because of their growth in 2021 and the role that shipping played in getting goods to consumers, many of whom were flush with pandemic cash and spending less on travel and experiences,” she says.

Matson shared its fascinating story of recognizing opportunity in the China to West Coast route, and quickly expanding operations in a competitive international marketplace from its headquarters in Honolulu.

Chair and CEO Matt Cox told Cynthia: “Basically what we did in China is to give the international markets the same levels of service as we give Hawai‘i.

“We have exported aloha culture, such as being nice and looking out for each other, into Shanghai or Chicago or wherever. It’s an exportable culture and our secret business success factor.”

STEVE PETRANIK EDITOR

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HB EVENTS CONNECT WITH HAWAII BUSINESS MAGAZINE L O C A L LY OW N E D , L O C A L LY C O M M I T T E D SINCE 1955.

Our goal is to strengthen the local economy and help our communities thrive.

Publisher CHERYL ONCEA cherylo@hawaiibusiness.com Editorial Editor STEVE PETRANIK stevep@hawaiibusiness.com • (808) 534−7584 Associate Editor CYNTHIA WESSENDORF cynthiaw@hawaiibusiness.com • (808) 534−7529 Staff Writer & Engagement Editor NOELLE FUJII-ORIDE

Need to Know: Commercial Real Estate THURSDAY, SEPTEMBER 22, 2022 | 9:00AM – 11:00AM

Investment purchases in Hawai‘i’s commercial real estate market during 2021 exceeded pre-pandemic levels with $3.15 billion in sales volume, according to Colliers Hawaii’s year end investment report. Join us in Kapolei as we discuss the impact that commercial real estate will have on our local economy and community.

For more information on tickets, visit www.hawaiibusiness.com/NTK

15th Annual Wahine Forum OCTOBER 26 – 27, 2022

Need to Know: Environment, Social, Governance THURSDAY, NOVEMBER 10, 2022

For more information on our signature events, visit hawaiibusiness. com/events or contact Loren Doctolero, Director of Events, at lorend@ hawaiibusiness.com.

CO R R E C T I O N S

The last name of Hawaii Housing and Finance Development Corp.’s executive director was spelled both correctly and incorrectly in July’s story, “Why This Government Program Worked.” The correct spelling is Denise Iseri-Matsubara.

There was an advertising error in the July issue. In the list of real estate¦’s Top Performers, these agents should have been listed with the firm Maui Luxury Real Estate LLC: Clint Hansen, Bob Hansen, Gladys Baran, Velva Ribble-Padgett and Kimberly Gale. They were incorrectly listed under List Sotheby’s International Realty. We apologize for the error.

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Connect with us on social media: HawaiiBusiness HawaiiBusinessmagazine

Hawaii Business is published by

President SCOTT SCHUMAKER scotts@pacificbasin.net • (808) 534−7541 Audience Development Director CHUCK TINDLE chuckt@pacificbasin.net • (808) 534−7521

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UPCOMING EVENTS:

noellef@hawaiibusiness.com Staff Writer CHAVONNIE RAMOS chavonnier@hawaiibusiness.com Copy Editor ELROY GARCIA Intern NICHOLE WHITELEY Design Creative Director KELSEY IGE kelseyi@hawaiibusiness.com • (808) 534−7179 Art Director MALLORY ADAMS-NAKAMURA malloryan@hawaiibusiness.com Digital Digital Marketing Director JOELLE CABASA joellec@hawaiibusiness.com • (808) 534−7531 Photography Staff Photographer AARON YOSHINO Sales & Marketing Associate Publisher KENT COULES kentc@hawaiibusiness.com • (808) 364−5869 Account Executive KELLIE MOE kelliem@hawaiibusiness.com • (808) 364−5897 Account Executive MEA ALOHA SPADY meaalohas@hawaiibusiness.com • (808) 364−6126 Advertising Project Manager MICHELLE OKADA michelleo@hawaiibusiness.com • (808) 534−7560 Events Director LOREN DOCTOLERO lorend@hawaiibusiness.com • (808) 534−7578 Circulation Circulation Manager KIM KOKI kimk@pacificbasin.net • (808) 534−7590

P R E S E N T E D BY

Join host Unyong Nakata as she talks with some of Hawai‘i’s most influential business and community leaders.

HO STED BY :

Unyong Nakata, Nakata Advisory, LLC

SP E CI AL G U E ST S I N C LU D E :

John Leong Kupu Hawaii

Colbert Matsumoto Island Holdings, Inc.

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Hawaii Business Magazine Wins 5 National Awards Among the honors are gold for our reporting on Honolulu rail and a bronze for best regional business magazine in North America

BY ST EV E P E T R A N I K

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AWAII BUSINESS MAGAZINE has won five awards

from the Alliance of Area Business Publishers, an association of about 65 publications in the U.S. and Canada that deliver regional business news. The awards were for work published in 2021.

In a category open to all member publications, Hawaii Business won gold for Best Use of Multimedia for its November online report: “How Honolulu’s Rail Got to $12.45 Billion and 11 Years Late.”

The multimedia report was a team effort: Noelle Fujii-Oride was the reporter and writer; Kelsey Ige and Amy Ngo worked on design; Joelle Cabasa and Tianna Morimoto handled digital development; Chavonnie Ramos created video; and Aaron Yoshino provided pictures.

The judges said: “Writing, graphics, and videos keep the audience engaged through this multipart series. With a

VA L I D AT I O N

where they’re at – and more and more that is online.

We’re succeeding. The latest audit by the Circulation Verification Council estimates an average of 173,427 readers and contacts a month across all Hawaii Business platforms. Preliminary estimates for 2022 are even higher.

Staff Writer and Engagement Editor Fujii-Oride also won silver for Best Explanatory Journalism in the large publications category for her rail report. The judges said: “This package of stories and infographics reveal the reasons behind cost overruns and delays for a public works project unprecedented in the state. By taking a bythe-numbers approach with context, readers can see the scale of the project for themselves.”

This award is another validation: Noelle spent three months almost exclusively working on Honolulu rail, a huge commitment for our small team.

But we felt the community needed a comprehensive and broad report as the future of the $12.45 billion rail project was being debated.

COMPETING AGAINST THE BEST

very comprehensive coverage of the topic, the package includes an impressive range of visualizations to communicate deep and well-rounded reporting.”

VALIDATION FOR OUR WORK

I’m gratified by this award because it validates our investment of time, energy and passion into digital journalism that supports the local economy and our communities. We want to keep Hawai‘i informed of big issues like rail, housing, how local businesses succeed, and many other important topics, and to do that, we need to meet people

The publication also won third-place bronze for Best Magazine, a team effort to which everyone on staff contributed.

This award takes into account almost everything we do: reporting, writing, design, photography, graphics and more.

In the past six years, Hawaii Business has won gold three times and bronze twice for best magazine, while competing against successful business magazines in Dallas, Florida, Detroit and other markets with populations up to 15 times that of Hawai‘i’s. I’m so proud of the people I work with.

The judges for the best magazine category said: “Strong and varied cover design provides an inviting front door.

Important stories about rail projects, grandparents as caregivers and rising sea levels combine deep reporting and visual packaging. Features such as ‘20 for the Next 20’ and ‘The Next $1 Billion Industry’ are beautifully designed while offering glimpses of what’s next for busi-

O F

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ness in Hawai‘i. At the heart of each issue is a clear-eyed focus on the people at all levels who make business happen.”

COMPELLING DESIGNS AND PICTURES

Creative Director Kelsey Ige and Staff Photographer Aaron Yoshino won bronze for Best Magazine Cover for the March 2021 cover that featured 20 for the Next 20 honoree Rachel James, attorney for the Public Utilities Commission.

The judges said: “A radiant image of one of Hawai‘i’s emerging leaders literally sheds positive light on an individual that is at the forefront of Hawai‘i business. The experimental use of typography, with alternating font width, creates a wonderfully balanced cover.

This breaks the rules, is outside the box and succeeds stupendously.”

The other bronze was for Best Feature Layout – Magazine for the March 2021 report on the “20 For the Next 20.”

Ige created the design while Yoshino, Michelle Mishina and Jordan Murph contributed photographs.

The judges said: “Bold typography makes an impactful statement on the opening spread of this design while a dynamic grid system, colorful backgrounds, fun typographic title treatments and stellar photographs convey a visually exciting celebration for Hawai‘i’s emerging leaders. The color tones, rules and simple visual elements strike a great balance of worldliness and fun.”

PELE AWARD FOR BEST DESIGN

The “20 for the Next 20” cover and spread also won a bronze Pele 2022 Award from the Hawai‘i chapter of the American Advertising Federation. This coveted award recognizes excellence in advertising and design, and was given in the category of collateral material for cover, editorial spread or feature series.

The Hawaii Business creative team competed with major design studios and communications agencies. The award is welcome recognition for the vision and hard work that goes into bringing the magazine’s words to life, month after month.

H AWA I I B U S I N ES S

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W H AT ’ S

N E X T

What’s Next for Hawaiian Airlines: Restoring Flights and Adding New Ones CEO Peter Ingram talks about hiring, investments and innovations like fuel from local feedstocks and allelectric seagliders that can fly between islands

BY ST EV E P E T R A N I K

Q:

WHAT ARE HAWAIIAN AIRLINES’ BIGGEST GOALS AND PLANS FOR 2022?

We are well underway on our path to recovering from the depths of the pandemic. The return of travel demand has allowed us to gradually restore our network, bring employees back and even add new service connecting our islands to popular destinations in Orlando, Austin and Ontario, California.

We are eager to resume more international flying – especially between Hawai‘i and Japan – as Covid-19 travel restrictions ease.

We are hiring aggressively and making substantial investments in technology to make our employees’ jobs easier and to make it more seamless for our guests to interact with us. Importantly, and as we grow the business, we are also focused on being a more sustainable airline.

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PH OTO BY A A R O N YO S H I N O

W H AT ’ S

Q: THERE HAS BEEN AN EROSION OF SUPPORT AMONG HAWAI‘I’S RESIDENTS FOR THE TOURISM INDUSTRY. WHAT NEEDS TO BE DONE TO WIN BACK THAT SUPPORT?

Tourism remains the cornerstone of Hawai‘i’s economy, and without a strong visitor industry, the standard of living in our state would erode.

Tourism should be embraced as a sustainable industry that can be a catalyst for economic diversification. For example, we recently committed to locally sourcing 40% of the food and beverage for our Hawai‘i catering operations by 2025, up from 29% today. This supports agriculture and adds local jobs as farmers expand to meet greater demand.

We should manage and leverage tourism to ensure its benefits flow more evenly to other sectors of our community, and support infrastructure and programs that make the islands better for residents and visitors.

Q: HAWAIIAN AIRLINES HAS TO COMPETE WITH AIRLINE GIANTS LIKE UNITED AND DELTA FOR THE HAWAI‘I MARKET. WHAT STRATEGIES DO YOU USE TO COMPETE SUCCESSFULLY?

Our people and their warm aloha, along with our exclusive mission to be Hawai‘i’s airline, are what continue to differentiate Hawaiian from our competitors. It is what our guests – both kama‘āina and visitors – consistently tell us: that there is nothing like stepping onboard a Hawaiian Airlines cabin.

Q: LABOR SHORTAGES HAVE PLAGUED MANY LOCAL COMPANIES. HOW ARE YOU FARING ON THE RECRUITING AND RETENTION FRONTS?

CEO Peter Ingram in the Hawaiian Airlines hangar at Daniel K. Inouye International Airport.

Labor market conditions are tighter today than before the pandemic. Fortunately, Hawaiian Airlines remains among the state’s most desirable employers and we have a variety of career opportunities with attractive compensation and benefits packages. We are,

N E X T

however, not immune to the challenges of the tight labor market and have launched a hiring campaign as we continue to recruit across the state for hundreds of positions.

Q: HAWAIIAN HAS INVESTED IN THE INITIAL DEVELOPMENT OF AN ALLELECTRIC SEAGLIDER. TELL US ABOUT THAT AND WHEN WE MIGHT GET TO RIDE THAT PLANE BETWEEN THE ISLANDS.

Our key sustainability goal is to bring our carbon emissions to net-zero by 2050. Advances in technology – from sustainable aviation fuel to innovative engine propulsion – will be critical to help us decarbonize our operation.

We’ve joined forces with Par Hawaii to study the commercial viability of replacing all or part of our traditional kerosene-based jet fuel with fuel made with locally produced sustainable feedstocks.

In addition to using cleaner energy, Regent’s seagliders could potentially operate out of different infrastructure, like harbors. We need to have an open mind to novel technologies that can help us along the path to achieving our sustainability goals.

Q: THERE IS WIDESPREAD PESSIMISM ABOUT THE FUTURE. WHAT GIVES YOU OPTIMISM?

Our team’s ability to not only persevere through the challenges of the last two years but to position us for growth in the years ahead inspires me every day.

The desire to travel was undiminished by the pandemic – especially the desire for leisure travel experiences. I feel certain that as long as we remain committed to our purpose of connecting people with aloha there will be boundless opportunities ahead.

PA RT O F A S ER I ES O F I NTERVI E W S WITH C EO S O F K E Y H AWA I ‘ I C O M PA N I ES . TH I S I NTERVI E W H AS B EEN ED ITED FO R LEN GTH A N D C O N C I S EN ES S .

H AWA I I B U S I N ES S

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What’s Next for Finance Factors: New Generation of Leaders CEO Russell Lau says its main focus is offering both conventional and unique solutions so local people can buy their first homes or create real estate portfolios for long-term generational wealth

BY ST EV E P E T R A N I K

CEO Russell Lau, center behind the dragon’s head, celebrates Chinese New Year with his colleagues at Finance Factors.

brating its 70th anniversary this year. CEO Russell Lau, son of co-founder Daniel Lau, outlines the company’s strategy for today and its new generation of leaders.

WHAT IS FINANCE FACTORS’ NO. 1 GOAL FOR 2022?

To help more of Hawai‘i’s families achieve the dream of homeownership and help “mom and pop” real estate investors build generational wealth.

We’re focused on getting the word out 28

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that Finance Factors has the expertise and the personalized lending solutions to help people achieve their homeownership and real estate goals.

While we have some of the lowest rates on conventional fixed-rate loans in Hawai‘i, we are well-known for creative lending solutions for unique properties, unusual borrower situations and low down-payment scenarios.

In fact, we offer solutions for all kinds of unusual situations, like securing multiple properties on a single loan, which is perfect when parents want to help their child buy a home using the equity in their own property as the down payment.

WHERE ELSE IS THE COMPANY FOCUSED IN 2022?

This year marks our 70th anniversary and it’s an opportunity to honor the past and celebrate the future. We got our start in 1952 helping Hawai‘i’s working families gain access to personal loans at a time when traditional financial institutions weren’t serving them. We carry forward that same spirit today in our approach to real estate lending by using creative, personalized lending solutions.

People often think that unconventional paths to lending are riskier, but despite all the pandemic volatility, our credit quality held up in our portfolio.

PHOTO: COURTESY OF FINANCE FACTORS

F

INANCE FACTORS, THE LO CALLY OWNED FINANCIAL SERVICES COMPANY, is cele-

W H AT ’ S

This proves we aren’t taking on more credit risk by helping our borrowers. Instead, we are taking the time to structure a solution that works for their unique situation.

The company is also focused on investing in technology to improve the customer experience.

nance Enterprises, our holding company; Rob is president of Finance Factors.

We also recently brought on Joy Barua as president of Finance Insurance.

He brings positivity and a fresh perspective backed by 25 years of multidisciplinary leadership. Greg Kawakami leads our real estate operation as pres-

N E X T

ident of Waipono Investment and has repositioned our real estate portfolio to further set it up for growth.

PA RT O F A S ER I ES O F I NTERVI E W S WITH C EO S O F K E Y H AWA I ‘ I C O M PA N I ES . TH I S I NTERVI E W H AS B EEN ED ITED FO R LEN GTH A N D C O N C I S EN ES S .

WHAT ARE THE BIGGEST CHALLENGES FACING YOUR ORGANIZATION AND YOUR INDUSTRY?

Housing affordability is a huge issue in Hawai‘i. Our state has low housing inventory, escalating construction costs, permitting and entitlement challenges, and most recently, rising interest rates. We try to combat this challenging marketplace by being nimble with quick decision-making and operational effectiveness.

In Hawai‘i, the war for talent hits especially hard. It’s always been a tight labor market, and the pandemic accelerated retirement for some. In all industries, especially the financial services industry, the competition for talent is fierce and we sometimes lose bright talent to the mainland.

We understand this and are continually evaluating our employee benefits, creating more job flexibility, building a strong culture, and focusing on promoting development and rotational opportunities that only a smaller employer, that also has sister companies, can offer.

PA RT O F A S ER I ES O F I NTERVI E W S WITH C EO S O F K E Y H AWA I ‘ I C O M PA N I ES . TH I S I NTERVI E W H AS B EEN ED ITED FO R LEN GTH A N D C O N C I S EN ES S .

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H AWA I I B U S I N ES S

29

5

S T E P S

REDUCING RISK SHO U L D ALWAY S BE A PRIORITY no

matter the size of a business.

Chad Lindsey, risk consulting services manager at DTRIC Insurance, says workplace safety impacts productivity, quality of work and the bottom line. He shares five tips for creating a culture of safety in your workplace.

1. ANALYZE OPERATIONS FOR POTENTIAL HAZARDS

Conduct a hazard analysis that reviews operations for unsafe practices and conditions that may contribute to accidents.

Also evaluate past injury and accident reports to determine 30

AU G U S T 2 0 2 2

if there are trends or problem areas that need attention.

2. DEVELOP A PLAN AND ACT ON IT

Use information gathered in the analysis to create a plan that outlines management safety responsibilities, employee expectations and safety communication protocols. The plan should also include metrics for accountability to ensure these elements are being done.

3. INCREASE COMMUNICATIONS TO CREATE A CULTURE OF SAFETY

The more frequently safety

is communicated throughout the organization, the better your chances of reducing workplace injuries. Discuss safety and safe work practices during management and department meetings. Periodically inspect the workplace for hazards and discuss the results with management and employees. Thoroughly investigate all incidents and involve management in the process.

4. EDUCATE AND ENGAGE EMPLOYEES

Employees cannot be expected to work safely if they’re not trained on how to safely work. Incorporate safety

messages in the onboarding process. Highlight hazards and controls in employees’ immediate work areas. Familiarize employees with the regulatory requirements for their jobs. Continue safety awareness messaging to all staff and management throughout their employment.

5. MOTIVATE AND MARKET

Keep workplace safety top of mind. Recognize and reward employees who have contributed positively to company safety. Use posters, banners and handouts to help maintain and support the company’s culture of safety.

ILLUSTRATION: GETTY IMAGES; PHOTO ILLUSTRATION: KELSEY IGE

5 Steps to Reducing Workplace Risk

MAHALO TO ALL WHO SUPPORTED BUSINESS NIGHT 2022!

Many thanks to First Insurance Company of Hawaii, and President and CEO Mark Yoda for 17 years of continued support as title sponsor; keynote speaker and Shidler alumna Wendy Peterson, BBA ’82, JD ’85, general counsel of Knobbe Martens; the Business Night student committee and its executive director, Natalie Kwon.

Title Sponsor

Media Sponsor

BUSINESS NIGHT AWARD SPONSORS: Alexander & Baldwin, Inc. | ‘Alohilani Resort Waikīk ī Beach | American Savings Bank | Anthology Marketing Group | Austin Thomas, BBA ‘98 | Bank of Hawaii Corporation | Bishop & Company | Central Pacific Bank | Connect Consulting | CW Associates, CPAs | Decision Research Corporation | Deloitte & Touche LLP | Dr. Dana Alden and Dr. Qimei Chen | Ernst & Young LLP | Financial Executives International - Hawaii Chapter | First Foundation Bank and Advisors | First Hawaiian Bank | First Insurance Company of Hawaii, Ltd. | Hawaii Association of Public Accountants - Oahu Chapter | Hawaii Business Magazine | Hawaii Compensation Group | Hawaii Employers Council | Hawaii Stevedores, Inc. | Helm Family Trust | HouseMart Ben Franklin Crafts & HouseMart ACE Hardware Stores | Information Systems Audit and Control Association - Hawaii Chapter | KPMG LLP | KTA Super Stores in honor of Koichi & Taniyo Taniguchi | Marriott International | Marriott Vacations Worldwide | Matson | Pacific Asia Travel Association - Hawaii Chapter | ProService Hawaii | Servco Foundation | Shidler College of Business Alumni Association | Spire Hawaii LLP | TIM Alumni Association | UBS Financial Services, Inc. | Y. Hata & Co., Limited

For the past 61 years, Business Night has been the premier mentoring and awards event at the Shidler College of Business. shidler.hawaii.edu

N A N O G O L D

T E C H N O L O GY

conditions (19°N); and even a wireless system for deep-sea, high-speed data transfer called ULTRA, for underwater laser telecommunications and remote access. Yes, it does sound like a James Bond movie.

Kitajima says, Oceanit “used to spin out technologies − I’ve worked on three venture-funded companies over the last 15 years − but the challenge with venture capital in Hawai‘i is we have seed money but not the follow-on investment. That comes from mainland investors and then they want to move the company away.

It’s not a scalable model.

“After three of those, we wanted to find another way to have funding to commercialize a technology, to actually make it into a product.”

Oceanit Goes for the Gold The local tech company’s latest invention uses infinitesimally tiny gold particles in cosmetics, with health care applications possible in the future

BY K AT H RYN D R U RY WAGN ER

“O 32

CEANIT IS LIKE Q IN JAMES BOND MOVIES: the quarter-

master who is always inventing things,” says Ian Kitajima, director of corporate development and “technology sherpa” at the Downtown Honolulu-based technology company.

AU G U S T 2 0 2 2

Oceanit employs 150 engineers, scientists and researchers, mostly in Hawai‘i, but also in California; Texas; Washington, D.C.; and other locations. Recent innovations have included 3D-printed concrete reefs to help mitigate coastal erosion (Project Coral); wearable cooling packs to stay comfortable in hot

Kitajima kept his feelers out for a commercial customer who wanted to pivot in a new direction. “You’re talking about something that requires a visionary client,” says Kitajima. “They have to be willing to put up the money, to take the risk, and have to spend the money to buy equipment and create a facility. When you’re doing something you haven’t done before, it could fail. Going from the lab to scale, it can simply fail or it could prove to be too expensive. It requires a high level of trust on both sides.”

Oceanit found its partner in a South Korean automotive materials company that had been diversifying by entering the cosmetics business; Kitajima declines to name the company at this time.

If vehicles to vanities seems like a strange turn, consider this: South Korea is one of the world’s fastest-growing beauty markets. Research firm Market Data Forecast assessed the value of the K-beauty products market at $10.3 billion in 2021 and predicted a compound annual growth rate of 11.3% through 2026.

Kitajima says the client was using nanogold particles in skin-care products like serums, but their products were oil-based and they wanted it to be water-based.

Nanogold refers to tiny particles

ILLUSTRATION: GETTY IMAGES; PHOTO ILLUSTRATION: KELSEY IGE

NEEDS A VISIONARY CLIENT

Achieving a secure financial future starts with you. of gold, with a diameter of 1 to 100 nanometers. Just how tiny is that?

A sheet of paper is about 100,000 nanometers thick, according to the National Nanotechnology Initiative, while a single gold atom is about a third of a nanometer in size.

In addition to seeking a water-based technology, the auto company also struggled to scale its creation to produce enough of the nanogold.

TINY GOLD PARTICLES

Kitajima challenged Kathryn Anderson, a senior scientist at Oceanit who specializes in polymer chemistry, to come up with a solution.

She and her team created a way to use the nanogold particles in water, which makes it more versatile for use in products such as sunscreen, toner, lotions and vitamins.

Anderson says they also added a peptide functionality, with peptides attaching onto the nanogold. The nanogold is the delivery system that penetrates the skin’s dermis, where the amino acids in the peptide mimic collagen, helping skin to renew itself, according to Anderson.

Oceanit has a patent pending on the technology.

The project included not only coming up with the process, but also figuring out how to scale it, automate it, spec out equipment and work out any quality control, safety and regulatory issues. Currently, Oceanit is in its third and final phase, working with its partner in South Korea to design and build their new manufacturing facility.

This technology could eventually be used in the health care sector, says Anderson, to help with post-surgical healing among other things. In fact, gold nanoparticles are being researched and developed globally for use in a variety of medical fields, including dentistry and oncology, as well as for drug delivery, imaging and biosensors.

Imaging and biosensors using gold? James Bond would love it.

W

E ALL A S PIRE TO “AG E G R ACEFU LLY ”, but one of the biggest parts of that is having an actual plan on how to do so, for both your physical and financial health. Without a plan, all your efforts can fall short. So where do you begin?

Stephen Corbisier is Central Pacific Bank’s group senior vice president and division manager of wealth management. He has years of experience helping clients reach their financial goals, and understands how common the stress of reaching a stable financial future can be.

“A question we typically ask our clients is what keeps them up at night?” said Corbisier. “Some say reducing debt, caring for a loved one, or paying for college tuition. Others worry that they’ve made the right investments that will enable them to live comfortably as they age.”

Though the prospect of achieving longterm security as you grow older may seem daunting, Corbisier has three simple ways to help you attain financial peace of mind.

Know your finances Feeling in control of your finances is a key step in understanding and improving your financial health. Keep an eye on your bank accounts. Write out monthly expenses. Build a budget that can build your savings.

Work with a partner you trust Improving your financial health also means being able to see your finances in a broader context. A financial professional — a financial planner, wealth advisor, or private banker — can give you an honest assessment of where you stand. This person can also recommend strategies and solutions that can help you reach your short and long-term goals.

“Unfortunately, we can’t stop the aging process,” Corbisier said. “But we can offer suggestions that can calm your worries, pave the way for financial stability, and ultimately enable you to grow older with confidence.”

To learn more about achieving financial security, visit cpb.bank/wealthmanagement, or call to speak with one of Central Pacific Bank’s financial professionals at (808) 544-3772.

“The earlier you identify what is important, the sooner you can take actionable steps to achieve your goals.”

- S T EP H EN C O R B I S IER , G R O U P S V P, D I V I S I O N M A N AG ER , C EN T R A L PAC IFI C BA N K W E A LT H M A N AG EM EN T

Set financial goals and priorities What really matters most to you?

Being free to travel? Retiring early? The earlier you identify the things that are important, the sooner you can start working to make them a reality.

Member FDIC

H AWA I I B U S I N ES S

33

For a group of local emerging leaders, Thursday, May 19 was a time to celebrate, network and dream for Hawai‘i’s future.

“The recognition as a ‘20 for the Next 20’ means you have already proven yourselves as leaders in our community. We applaud your energy, passion and commitment and we predict many more accomplishments in the future,” said Hawaii Business Publisher Cheryl Oncea to the cohort members and their friends and colleagues at the Honolulu Museum of Art. “HOMA recognizes that great leadership is the central driving force behind sustainable change,” added Kevin Imanaka of the Museum. “We are honored to be an ideal gathering place to acknowledge these established and emerging leaders, and to cultivate the important conversations and networking that took place throughout the evening.”

Honorees were each presented with a plaque and membership to the Honolulu Museum of Art.

MAHALO TO OUR SPONSORS

Congratulations to the entire 2O22 Class!

Trever Asam, Cades Schutte

Tomorrow’s Leaders

Poki‘i Balaz, Lunalilo Home

Guy Churchill, Bank of Hawai‘i

Kimo Carvalho, Aloha United Way

Kealoha Fox, Institute For Climate and Peace, AlohaCare

Katie Chang, Center For

Sandra Fujiyama, Pacific Asian Center For Entrepreneurship, UH Mānoa Alicia Higa, Wai‘anae Coast Comprehensive Health Care Center

Kalani Ka‘anā‘anā, Hawai‘i Tourism Authority

Keoni Lee, Hawai‘i Investment Ready

Tony Mizuno, American Savings Bank

David SunMiyashiro, HawaiiKidsCAN

Courtney Kajikawa, First Hawaiian Bank

Dayna Matsumoto, Central Pacific Bank

Julie Morikawa, ClimbHI

Mark Wasielewski, Diagnostic Laboratory Services

Yoh Kawanami, Hawaiian Electric Co.

Kevin Matsunaga, Chiefess Kamakahelei Middle School

Matthew Shannon, Lung Rose Voss Waginald

Greg Young, HawaiiUSA Federal Credit Union

B I Z X :

A DV I C E

F R O M

E X P E R T S

How to Plan for Business Growth Amid High Uncertainty The strategies include seeing from new customers’ perspectives, enhancing cross-functional thinking and hiring “imagineers”

wai‘i have navigated their most pressing challenges in recent history, including government health regulations, inflation, and supply-chain and workforce disruptions.

When we operate our businesses in “survival mode” during uncertain times, it can be difficult to plan for growth. At Guild Consulting, we’ve developed several strategies to help businesses see past short-term issues to achieve long-term success.

1. IMAGINE THE FUTURE AND ADAPT

Remove yourself from a re-

sponse mindset that focuses on constant pivoting, and proactively create new ways to drive growth. CEOs need to be aware of the customer experience to improve products and services, leverage digital tools for operational excellence, and increase employee productivity in every corner of the organization.

2. CALIBRATE YOUR FIRM’S POSITIONING

CEOs should regularly review their company’s position from the customer’s point of view.

Are your loyal customers still there? If data shows they are gone, did you reposition your products to align with your new

customer segments?

3. PRODUCTIVE EMPLOYEES DRIVE GROWTH

In the face of challenges, a strong company culture often becomes stronger. This is frequently seen where leadership has encouraged each employee to adopt an “ownership mindset” as a core value, where staff input and decision-making are deeply valued.

4. CROSS-FUNCTIONAL TEAMS ARE TODAY’S NORM

Traditional organizational silos were designed for executing specific tasks under fixed budgets, not for adapting to

new scenarios. Cross-functional thinking brings employees together to achieve common companywide goals, improving everything from communication to collaboration.

5. LEVERAGE DIGITAL TOOLS FOR DECISION-MAKING

Artificial intelligence, such as algorithms and decision engines, offer tremendous potential to transform firms through the discovery of growth opportunities. This works best in firms that are willing to take risks and have a bottom-up management style.

6. HIRE IMAGINEERS

Traditional business models are comfortable places. By only hiring managers who “hit the ground running” or match job descriptions, businesses may miss out-of-the-box perspectives from employees who would more effectively drive growth.

As business strategy guru Michael Porter said: “Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.”

By developing flexible, adaptable organizations through shifts in traditional thinking, your business can grow in this new age of uncertainty.

THIS MONTH’S EXPERT:

RAY TSUCHIYAMA, PARTNER, GUILD CONSULTING

36

AU G U S T 2 0 2 2

ILLUSTRATION: GETTY IMAGES

OVER THE PAST TWO Y EARS, business leaders in Ha-

M Y

J O B

gin of error is what exists, especially when you are achieving a velocity of about 158 miles per hour on pretty much every skydive,” he says.

The U.S. Parachute Association says that in 2021, it recorded 10 fatal skydiving accidents nationwide – the lowest annual number on record – a rate of 0.28 fatalities per 100,000 jumps. The USPA recorded 11 fatalities in 2020.

“Statistically speaking, it’s safer than getting on a motorcycle,” Devine says.

KEY SKILLS: Skydivers must NAME: BEN DEVINE AGE:

36 JOB:

MASTER RIGGER / WINGSUIT INSTRUCTOR

The Sky Is My Office PHOTO: COURTESY OF BEN DEVINE

BY LOR E A L WA LL S- JAIM E

BEGINNINGS: Ben Devine’s first skydive was at the age of 18.

He has since jumped from an airplane about 5,000 times.

“I knew I wanted to skydive from the very first time I found out about it.”

On his 18th birthday, he made his first jump: a tandem one with a group of friends.

be able to gauge the weather. “Definitely being able to intelligently perceive the conditions is important.

“To most people the wind is invisible, but to a skydiver, an aviator or sailboat captain for that matter, being able to see how the wind interacts with the world around you – whether that’s clouds or trees or just how you are moving through the wind – is something that you must learn to do.”

diving as a “shortcut to meditation.”

Rather than an adrenaline rush, he says, “People are surprised to hear that it actually happens to have more of a calming effect on you.”

He says that skydiving helps to create a “flow space” where the stresses of everyday life become nonexistent.

“All of the problems sort of melt away when all you’re focused on is the next 60 seconds of falling through the air.”

HIS FAMILY: “The very best thing about my job is the people.”

He considers his co-workers as family. “Skydiving is a sport where everyone looks out for each other because safety is certainly a communal enterprise.

“I also enjoy the people I get to meet who come out to do skydives. You meet people when it’s their birthday and they never thought they’d do it before, to people who are maybe going through something in life and want a chance to self-actualize by letting themselves do the impossible.”

Skydiving brings together people from “all walks of life” and from around the world, Devine says, adding, “A plumber could be jumping with a millionaire.”

DANGERS: “The desire to push one’s abilities and skills along with a certain mar-

THIS INTERVIEW HAS BEEN EDITED FOR CL ARITY AND CONCISENESS.

He was 23 when his skydiving career officially began. “It took a few years until the timing worked out that I had enough money and time to get certified and get my license.”

MISCONCEPTIONS: Devine refers to sky-

H AWA I I B U S I N ES S

37

M E N TA L

H E A LT H

W

HEN HORRIFIC EVENTS HAPPEN – even an ocean away – the

news can deeply impact your team’s mental well-being and spirit at work.

Of course, distressing events in the Islands can be especially painful because they involve our aunties, cousins, friends and neighbors.

It can be tough to get through the workday after learning about a tragic event. The opposite can also prove true: Our jobs can provide an outlet to work through difficult emotions.

Instead of remaining silent or trying to suppress the sharing of feelings at

38

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work, effective leaders acknowledge and encourage expression of human emotion. When confronted with distressing news, start by adopting these practices throughout your company.

1. CHECK IN WITH EMPLOYEES

Talk to your direct reports individually to see how they’re doing. Begin your one-on-one conversation by asking them if they know about the incident or anyone impacted. Even if they’re not directly connected to someone affected, they may still experience acute stress from simply being exposed to the news.

If colleagues open up, validate their

experiences by listening and asking questions. Simply acknowledging that it’s OK to talk about it can help people feel comfortable sharing what’s on their minds.

Don’t minimize or dismiss their feelings. Avoid responses like, “It could be worse!” or “Everything happens for a reason.”

Also refrain from trying to fix the problem or prescribing a solution. Even if you have firsthand experience in a similar situation, don’t assume what worked for you will work for others. While sharing your experience may help, avoid centering the conversation on you and provide a safe space where employees can feel heard.

ILLUSTRATION: GETTY IMAGES

How to Help Your Employees Cope with Distressing News

Depending on the incident or proximity to your company, you may want to schedule a meeting with your larger team to discuss what the organization is doing to keep employees safe.

2. OFFER SUPPORT

Distressing news impacts everyone differently, and some employees may need more support than others. Your team may not know what type of support they need or the options available to them.

If they aren’t forthcoming about their needs, offer something specific, like a mental health day or information about your employee assistance program. Specific offers make it easier for someone to accept help.

Managers should be aware of the resources available to their teams and be able to direct employees to get the help they need.

Multifamily Property Loans

1

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• For Purchase, Refinance5 or Cash-out

3. EMPOWER EMPLOYEES TO ACT

We often feel helpless when faced with big crises or social issues, but there are ways to make a collective difference. Providing your employees with channels to make an incremental contribution can ignite a sense of purpose and power.

You may consider matching employee donations to nonprofits or sponsoring volunteer days to contribute to causes that align with company values.

While some companies avoid talking about issues that don’t relate directly to their businesses, a new generation of talent wants their voices heard and wants to work for companies whose values and actions align with their own.

Meeting those desires can fortify their loyalty to the business.

Kei Kido

SVP, Commercial Real Estate Manager NMLS #493139 (808) 548-3327 KeiK@financefactors.com

Eileen Chun

VP, Commercial Loan Officer NMLS #493136 (808) 548-5170 EileenC@financefactors.com

Eileen Li

AVP, Commercial Loan Officer NMLS #1639053 (808) 548-5131 EileenL@financefactors.com

CALL US TODAY! LINDA GOTO, HR TRAINING AND DEVELOPMENT MANAGER, PROSERVICE HAWAII

Our Multifamily Property Loans are subject to change without notice.

1. Property or apartment building must have 5 or more units. Building must be well-maintained with 2-years stable occupancy. 2. Available for a limited time. 3. Call to discuss larger amounts. 4. Equity from other properties may 39 H AWAare I I not B U Seligible.

I N ES S substitute for cash down payment. 5. Refinances of existing Finance Factors loans

T O P

Hawai‘i’s Best Paid Athlete in 2022: NFL’s DeForest Buckner Collects $16 Million A roundup of this year’s salaries for professional football and baseball players with Hawai‘i ties

BY L A NC E TOM IN AGA

B

UFFANBLU? MORE LIKE BATHED IN GREEN.

Former Punahou standout DeForest Buckner heads this year’s list of highest-paid professional athletes with Hawai‘i ties. Now entering his seventh NFL season – his third with the Indianapolis Colts – Buckner owns the second-most lucrative contract for a defensive tackle, behind only Aaron Donald of the reigning Super Bowl champion Los Angeles Rams.

Buckner’s former Buffanblu teammate, Ka‘imi Fairbairn, also ranks high on our list. The Houston Texans placekicker, who led all NFL players in scoring in 2018, sports the eighth-highest contract among kickers.

No fewer than 15 Hawai‘i athletes are scheduled to make $1 million or more in 2022.

Here is our list of athletes with Hawai‘i ties and their 2022 salaries. Our source is Spotrac.com, a website that tracks the contracts of athletes in the major professional sports leagues. Spotrac does not track the earnings of professional surfers and MMA fighters.

I L LU S T R AT I O N BY K E L S I E D AY N A

Deforest Buckner

Defensive Tackle, Indianapolis Colts Wai‘anae, Punahou School 2 02 2 S A LA RY: $16 million*

E A R N E R S

I N

S P O R T S

Honolulu, Mid-Pacific Institute 2 02 2 S A LA RY: $4.7 million ONE - YE A R CONT R AC T :

$4.7 million

FOUR - YE A R CONT R AC T ( 2 02 1 - 2 02 4 ) : $84 million

Ka‘imi Fairbairn

Tua Tagovailoa

FOUR - YE A R CONT R AC T ( 2 02 0- 2 02 3 ) : $17.65 million

*Includes a $5 million roster bonus

Quarterback, Miami Dolphins ‘Ewa Beach, Saint Louis School 2 02 2 S A LA RY: $9,633,094* FOUR - YE A R CONT R AC T ( 2 02 0- 2 02 3 ) : $30,275,438

*Includes a $4,894,625 signing bonus and $2,467,313 roster bonus

Kolten Wong

Second Baseman, Milwaukee Brewers Hilo, Kamehameha-Hawai‘i, UH 2 02 2 S A LA RY : $8.5 million* T WO- YE A R CONT R AC T ( 2 02 1 - 2 02 2 ) : $18 million

*Includes a $500,000 signing bonus

Isaac Suemalo

Offensive Guard, Philadelphia Eagles Born in Honolulu 2 02 2 S A LA RY: $7,668,000* T HR E E - YE A R CONT R AC T ( 2 02 0- 2 02 2 ) : $15,918,000

*Includes an $800,000 signing bonus

Isiah Kiner-Falefa

Shortstop, New York Yankees

Placekicker, Houston Texans Kailua, Punahou School 2 02 2 S A LA RY: $4.3 million* *Includes a $750,000 signing bonus

Marcus Mariota

Quarterback, Atlanta Falcons Honolulu, Saint Louis School 2 02 2 S A LA RY: $4.25 million* T WO- YE A R CONT R AC T ( 2 02 2 - 2 02 3 ) : $18.75 million

*Includes $2.5 million signing bonus

Kamu Grugier-Hill

Linebacker, Houston Texans Honolulu, KamehamehaKapālama 2 02 2 S A LA RY: $4 million* ONE - YE A R CONT R AC T :

$4 million *Includes a $1.5 million signing bonus and $411,754 roster bonus

Tyson Alualu

Defensive End, Pittsburgh Steelers Honolulu, Saint Louis School 2 02 2 S A LA RY: $3,462,500* T WO- YE A R CONT R AC T ( 2 02 1 - 2 02 2 ) : $5.5 million

*Includes a $962,500 signing bonus H AWA I I B U S I N ES S

41

T O P

E A R N E R S

I N

S P O R T S

Jamin Davis

Linebacker, Washington Commanders Born in Honolulu 20 22 SALARY: $3,135,040* FOUR- YEAR CONTRACT (20 21 -2024): $13,794,176

*Includes a $1,848,032 signing bonus

Nate Herbig

Offensive Guard, New York Jets Līhu‘e, Saint Louis School 20 22 SALARY: $2,433,000

Kirby Yates

Relief Pitcher, Atlanta Braves Līhu‘e, Kaua‘i High 2 0 2 2 SAL ARY : $1 million TWO -Y EAR CO N TRAC T ( 2 0 2 2 -2 0 2 3) : $8.25 million

Alohi Gilman

Safety, Los Angeles Chargers Born in Lā‘ie 2 0 2 2 SAL ARY : $942,051* FO U R -Y EAR CO N TRAC T ( 2 0 2 0 -2 0 2 3): $3,483,204

*Includes a $47,051 signing bonus

ONE- Y EAR CONTRACT:

$2,433,000

Rigoberto Sanchez

Punter, Indianapolis Colts UH 20 22 SALARY: $2,345,000 FOUR- YEAR CONTRACT (20 20 -2023): $11.6 million

Kurt Suzuki

Catcher, Los Angeles Angels Wailuku, Baldwin High 20 22 SALARY: $1.75 million ONE- Y EAR CONTRACT:

$1.75 million

Jahlani Tavai

Linebacker, New England Patriots UH 20 22 SALARY: $1.22 million* TWO-Y EAR CONTRACT (20 21 -2022): $1,858,886

*Includes a $25,000 signing bonus, $180,000 roster bonus and $50,000 workout bonus

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Bradlee Anae

Defensive End, New York Jets Lā‘ie, Kahuku High 2 0 2 2 SAL ARY : $905,000* O N E-Y EAR CO N TRAC T ( 2 02 2 ) :

$905,000 *Includes a $10,000 signing bonus

Trayvon Henderson Safety, Cincinnati Bengals UH 2 0 2 2 SAL ARY : $895,000 O N E-Y EAR CO N TRAC T:

$895,000

Breiden Fehoko

Defensive Tackle, Los Angeles Chargers Honolulu, Farrington High 2 0 2 2 SAL ARY : $825,000 TWO -Y EAR CO N TRAC T ( 2 0 2 1-2 0 2 2 ) : $1,485,000

Josh Rojas

Outfielder, Arizona Diamondbacks UH 2 02 2 S A LA RY: $730,900 ONE - YE A R CONT R AC T :

$730,900

Myron TagovailoaAmosa

Defensive Tackle, Las Vegas Raiders ‘Ewa Beach, Kapolei High 2 02 2 S A LA RY: $708,333* T HR E E - YE A R CONT R AC T ( 2 02 2 - 2 02 4 ) : $2.57 million

*Includes a $3,333 signing bonus

Jared Smart

Wide Receiver, Arizona Cardinals UH 2 02 2 S A LA RY: $705,000 T HR E E - YE A R CONT R AC T ( 2 02 2 - 2 02 4 ) : $2.56 million

Rico Garcia

Pitcher, Baltimore Orioles Honolulu, Hawai‘i Pacific University 2 02 2 S A LA RY: $700,000 ONE - YE A R CONT R AC T :

$700,000

UNITED STATES FOOTBALL LEAGUE

A new version of the USFL was launched in spring 2022.

The eight-team league is primarily viewed as a proving ground for players who hope to earn (or regain) roster spots in the NFL. USFL players with Hawai‘i ties include:

Jordan Ta‘amu

Quarterback, Tampa Bay Bandits Pearl City, Pearl City High 2 02 2 S A LA RY: $36,450

Nick Rose

Placekicker, New Jersey Generals Born in Honolulu 2 02 2 S A LA RY: $36,000

Kalani Vakameilalo

Defensive Tackle, New Jersey Generals Kapolei, Kapolei High 2 02 2 S A LA RY: $27,000

Jojo Ward

Wide Receiver, Houston Gamblers UH 2 02 2 S A LA RY: $23,600

Hercules Mata‘afa

Defensive End, New Jersey Generals Lahaina, Lahainaluna High 2 02 2 S A LA RY: $2,350

SPECIAL SPONSORED SECTION

Improving Hawaii’s Health Focusing on vulnerable and underserved populations, Kaiser Permanente provides support to many nonprofit organizations to uplift the community’s overall health and well-being.

SPECIAL SPONSORED SECTION

Ending Veteran Homelessness

B

orn and raised in Hawai‘i, Staff Sergeant Sterling Beair had difficulties assimilating to everyday civilian life when he completed service and returned home. For 10 years, he worked as a U.S. Army combat medic in Iraq and other missions and was suffering from post-traumatic stress disorder.

Beair eventually found himself homeless for two years and then was incarcerated. That’s when he was connected to U.S.VETS, whose mission is to end veteran homelessness.

“He put his heart and soul into the program,” says Gregory Williams, executive director of U.S.VETS Barbers Point at Kalaeloa. “He got his associate, bachelor’s, got his master’s, started a career as a therapist, and then within the last year and a half was elected to the national board of directors for U.S.VETS.” Not all veteran stories are as successful as Beair’s but U.S.VETS is there to support any veterans who gave of themselves to serve the country, should they need the help to regain their independence.

U.S.VETS’ ultimate goal is to keep veterans in permanent housing, and that requires a commit-

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ment from the veteran to do the work in addressing their personal challenges, whether that’s getting a better job, anger management issues, or substance abuse.

“I would say that no veteran that comes to us is without some kind of issue that they’re dealing with,” says Williams. “I wouldn’t necessarily say there’s a 100% correlation between those issues and the reason why they’re homeless, but for sure, those are definitely contributing factors.

“Kaiser Permanente generously awarded a grant for nursing support,” says Williams.

To support the health and wellness of homeless veterans, Kaiser Permanente awarded U.S.VETS a grant that staffs a full-time nurse at its facilities in Barbers Point and Wai‘anae. The nurse also visits Kama‘okū Kauhale village, a tiny-home community for homeless civilians and veterans that U.S.VETS operates in Kalaeloa.

The nurse provides health education and advice for minor medical issues that may include encouragement to visit a doctor or hospital.

The hope in the future is to bring a doctor on full time or at least schedule visits once a month.

Like Beair, many of the veterans who live in Hawai‘i have some connection with the Islands and have probably served in Hawai‘i at some point in their career.

On O‘ahu, there were 3,951 people experiencing homelessness, and veterans make up 7% of the adults, according to Partners In Care’s March 10, 2022 Point In Time Count.

Partners In Care performs the count annually to learn more about the homeless population and determines

The Kama‘okū Kauhale tinyhome village is operated by U.S.Vets in Kalaeloa.

PHOTO: COURTESY OF U.S.VETS

S

ocial factors have a big impact on health and well-being. For instance, job instability can compromise a healthy lifestyle and lead to food and shelter issues. Homelessness further deteriorates one’s well-being, and chronic homelessness often leads to an early death.

Known locally and nationally as a high quality, affordable health care provider, Kaiser Permanente’s care extends beyond its hospital walls by investing in Hawai‘i organizations to address issues of housing and homelessness, food security, and economic opportunity. It believes that good health is a fundamental right and is focused on making a difference.

SPECIAL SPONSORED SECTION

Homelessness in Hawai‘i MAUI, MOLOKA‘I, LĀNA‘I HOMELESS: 741 HOMELESS VETERANS: 32

KAUA‘I HOMELESS: 444 HOMELESS VETERANS: 33

O‘AHU

HAWAI‘I ISLAND

HOMELESS: 3,951 HOMELESS VETERANS: 228

HOMELESS: 837 HOMELESS VETERANS: 43

During one-day homeless counts in 2022, these were the number of individuals across the Islands who were homeless, either sheltered or unsheltered.

(Source: Partners In Care Oahu Continuum of Care’s Point In Time Count held on Mar. 10, 2022; Bridging the Gap Continuum of Care Homeless Point In Time Count Jan. 23, 2022)

what solutions are needed.

“Most of our veterans who are experiencing homelessness are single, and a majority of them are also men,” says Laura Thielen, executive director of Partners In Care, a coalition of organizations dedicated to eliminating homelessness.

The 2022 report showed some positive news. Veteran homelessness decreased by 57% since 2015 and 44% since 2020. It’s believed to be due to increased efforts to house veterans through the “Mayor’s Challenge,” a national initiative Honolulu Mayor Kirk Caldwell accepted in 2015, and the “Built for Zero” movement, started by national nonprofit Community Solutions.

Kaiser Permanente has actively participated in these efforts, as well as with local nonprofits such as U.S.VETS and Partners In Care.

“Many of them have trouble going through the VA [Veterans Affairs] system. It’s a complex system and there’s a lot of waiting, so that’s one of the

big issues that we’ve seen is there may be services available to folks, but they have to wait a long time,” says Thielen. “That’s where the landlord engagement program and other programs we run really helps them.”

Partners In Care’s landlord engagement program finds landlords on the island who are willing to rent units to homeless individuals. In its three years, the program has assisted over 1,000 individuals get into housing.

Kaiser Permanente funds a landlord engagement program specialist specifically for veterans. Seanya Nakapalau, who’s been working in the human services field for 12 years, has worked in the position for a year. Last month, she assisted six veterans, including one family.

Her work entails screening veterans, finding housing, doing home tours, and working on relationships with landlords. The stigma of her homeless veterans sometimes makes it more difficult to house them, so she’s always searching for

new landlords who are willing to work with them or decide to have a change of heart.

“Our job takes a lot of advocating and sometimes it can be more difficult to match a specific situation to a landlord,” says Nakapalau. She says the program offers incentives for landlords and points out that veterans have a consistent source of military benefits that can help pay rent. The specialist is there to help with any concerns, too.

“Some of the stories that my veterans share of how they got to this situation is very disheartening,” says Nakapalau. “I do think that some of them have a harder time getting housed because of all the trauma that they faced.”

When there is a suitable match for a veteran, though, she finds joy in the program’s success. “Going through the process with them, getting to know them and their stories, and then actually housing them is an amazing feeling,” Nakapalau says.

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Turning Children’s Lives Around

“T

hey weren’t born bad,” says Deborah SpencerChun, president and CEO of Adult Friends for Youth.

“Circumstances happened to them along the way and so our work is to peel the layers and get to the core of who they really are. They’re really loving and really good kids and very respectful actually.”

Youth exposed to situations beyond their control, such as domestic violence, homelessness, and financial challenges, have a higher probability of dropping out of school or not continuing on to college. Offering support and guidance, Hawai‘i non-

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profits, like Adults Friends for Youth, are there to help turn things around.

Creating Positive Pathways With a mission to stop violence and create a peaceful community, Adult Friends for Youth serves 600 kids who voluntarily joined its programs on O‘ahu.

“Many of our kids are already engaged in some type of destructive behavior,” says Spencer-Chun. “A lot of them think we’re the police or someone they’re not sure about because they’ve had so many people in their lives, but we’re consistent.

We keep coming back.”

The nonprofit has a 32-week curriculum over four years that’s tailored to each child’s needs, including healing from trauma, coping skills, and communication. It also discusses life after high school with the youth and helps them create a path forward, whether that’s in college, vocational school or the military.

“We’ve been real fortunate because a private foundation such as Kaiser Permanente has really stepped up, especially during the pandemic,” says Spencer-Chun.

Kaiser Permanente supports Adult Friends for Youth through a grant it provides for redirectional therapy.

Half, or 300, of its kids take part in this form of group counseling.

“As long as they can redirect the negative behavior they have built along the way, if that can change, then the sky’s the limit for them,”

PHOTO: COURTESY OF ADULT FRIENDS FOR YOUTH

Adult Friends for Youth staff, including Lisa Tamashiro, Siutiti Takai, and CEO Deborah Spencer-Chun, held a youth presentation at Kapālama Elementary School.

PHOTO: COURTESY OF PARTNERS IN DEVELOPMENT FOUNDATION

SPECIAL SPONSORED SECTION

says Spencer-Chun. “Success is not measured by money but by how happy they are, how much better they’re feeling about their lives now and how they’re trying to strive to do better.”

Another organization supporting youth in communities, Partners in Development Foundation helps foster kids by training local families and relatives who can take them in; runs a safe house for adjudicated boys; and cares for the 5-acre Kupa ‘Aina Farm on the grounds of the Hawai‘i Youth Correctional Facility, which has been renamed to the Kawailoa Youth & Family Wellness Center.

As part of a program, Kupa ‘Aina Farm programming offers minors from the correctional facility, as well as other youth, the opportunity to work on the farm, learn about food nutrition, and enjoy being in the outdoor space.

“All of our staff are trauma-informed and they support the youth by mentoring them and helping to grow positive behaviors,” says Shawn Kana‘iaupuni, president and CEO of Partners in Development Foundation. It also provides youth an opportunity to develop career skills by working on the farm.

“It provides a little bit of cushion where they can practice a bit before they go out and get that regular job,” says Kana‘iaupuni. “We’re able to support youth to become engaged as positive community contributors by supporting their workforce readiness and skills development.”

We always try to have a healthy snack or preferably a hot meal when they arrive after school,” says Paddy Kauhane, president and CEO of Boys & Girls Club of Hawai‘i, which covers O‘ahu and Kaua‘i. Teens make up almost half of its members at 45%.

“One of the reasons we do that is kids who are hungry don’t learn as well. Kids who have full tummies are able to focus and concentrate better. For some of our kids, the last meal they have of the day is often in our clubs.”

Kaiser Permanente has been a supporter of its healthy living and athletics programs in the past, but in 2020, it started funding the club’s What’s Next program, too.

The new program is for kids specifically who have higher needs and less resources than others.

“We bring them in, we start them at grade nine, and they go all the way through, in the same pod until they graduate high school,”

says Kauhane. “Through those years, from nine to 12, we start to really intensely work on social and emotional learning, workforce development, career clusters, and applications for scholarships.”

The program has also taken the kids, some of whom have never left Hawai‘i, to the mainland to visit colleges. Following high school graduation, the club keeps track of the kids who have gone on to college or trade school, and helps them return home to visit families during breaks.

“The beautiful thing that’s happening now is these kids are attending college, and when they do come home, they’re actually working for the clubs now as interns during their summer breaks.

So they get to earn money and still reconnect, and they also become adult mentors,” says Kauhane.

Similarly, the Boys & Girls Club on Maui has three major core program areas, including academic enrichment,

More Support to Lean On Coming from financially challenging situations, children’s basic needs are addressed at the Boys & Girls Club, such as providing food or offering a safe space to decompress, so the kids can turn their focus on the future and having a successful life.

“Eighty-two percent of our children come from what are designated as low to very-low income families.

Minors of the Kawailoa Youth & Family Wellness Center have the opportunity to work at the 5-acre Kupa ‘Aina Farm on the grounds of the facility.

K A I S E R PE R M A N E N T E

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Cultivating Teen Leaders Kaiser Permanente awarded a grant to Boys & Girls Club of Maui to support its leaders in training program, which gives teens healthy activities to engage in with topics of how to be leaders, social emotional learning, tobacco and vaping prevention

and awareness, and healthy alternatives to drugs and alcohol.

“The leadership development is very important because what we’re trying to do is make sure that they really do understand and feel confident that they can do whatever they desire to do in life after they leave our clubs,” says Maluo-Pearson.

At the club, teens create resumes, do mock interviews, participate in club service and service outside the community, understand financial literacy, and explore different career pathways.

This is also the first year the club will be sending a group of teens to the national Boys & Girls Club leadership development conference in California.

“We want them to be successful in their lives,” says TJ Daya, director of operations for the Lahaina Boys & Girls Club. “We want them to be happy in their lives and realize they can achieve anything they want if we provide them with the tools.”

The Boys & Girls Club of Hawai’i gives youth a stable environment, where they can eat a warm meal, do homework, and find a safe place to decompress.

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Advocacy for Maui Businesses Building wealth and creating jobs is integral to the physical and mental well-being of the community, and the Maui Economic Development Board (MEDB) is focusing efforts on underserved populations.

The MEDB, whose mission is to inspire innovation in business, education and community in Maui County, received a grant from the National Association for Latino Community Asset Builders funded by Kaiser Permanente. The grant has traditionally been used for the Latino community, but because its population is small in Hawai‘i compared to other states, the grant opportunity expanded to include all vulnerable populations, such as the Native Hawaiian, Filipino, and Micronesian populations.

“Kaiser Permanente wanted to make sure this kind of community asset development was happening in Hawai‘i,” says Leslie Wilkins, president and CEO of MEDB. “It really led us to focus on those underserved communities in our business outreach and development.”

The grants been used to work with community members and help businesses get fiscal infrastructure so they can continue to grow. MEDB also coaches on business reorganization and how to move into ecommerce.

“It’s so amazing how Kaiser Permanente doesn’t just invest in our physical and mental health, but they invest in the health of a community,” says Wilkins.

PHOTO: COURTESY OF BOYS & GIRLS CLUB

character and leadership and healthy living. One of its goals is to focus on inclusion so as to increase teen engagement in programs and give opportunities for them to be a part of planning for activities and events, such as its annual Teen Expo, so they have a voice.

“Over the years, Kaiser Permanente has worked with us, supported our programs, our events, and in the past supported our big chef event which promotes culinary career explorations working with our little chefs and big chefs of Hawai‘i,” says Kelly Maluo-Pearson, CEO of Boys & Girls Club of Maui.

It’s Gotten Both

Worse and Better for Struggling Working Families

The bad news is there are tens of thousands more local people just barely getting by financially since the pandemic began. The good news for them includes a higher minimum wage, a permanent state earned income tax credit and an evolving support system that listens and learns.

by N OEL L E FUJ II-O RIDE | photos by A A RO N YO SHINO

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“I want to make a good life for my kids.”

That is the most frequently stated goal among the hundreds of Hawai‘i residents who have participated in the Council for Native Hawaiian Advancement’s workforce training academies, says Mehanaokala Hind, senior director of community programs.

Hind says the plaintive hope in that goal shows how hard it is to live in Hawai‘i, where the average pay doesn’t cover the high cost of housing, food and other essentials.

“The struggle to just simply survive here, it’s almost like it’s hard for them to have other goals other than surviving here,” she says.

Many who enter the training academies are trying to build better lives for themselves and their families. They have jobs but are financially vulnerable, with little to no savings and with incomes that barely cover their basic needs.

A job loss, health emergency or rent increase can drop them into poverty.

These working people are ALICE, an acronym that stands for “asset limited, income constrained, employed.”

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A Group of Nonprofits The Council for Native Hawaiian Advancement is part of a cohort of 17 local nonprofits trying to tackle the systemic problems that make it so hard for ALICE households to achieve economic security and prosperity. Their projects help ALICE workers become more financially stable, find affordable housing and get involved in decision making on the policies and rules that govern their lives.

The nonprofits say their efforts have already helped some individuals reduce their debts; increase their credit scores, incomes or savings; and get involved in shaping solutions for themselves and others.

Michelle Kauhane, senior VP of community grants and initiatives at the Hawai‘i Community Foundation, says the work is especially important considering the economic impact Covid will continue to have in the next decades.

“Parents who struggle now, who haven’t been working for a few years or who have been surviving off unemployment

and part-time salaries, what is that impact on their children?” she asks. “This is not just about the two or three years that we are focused on containing the pandemic, but about the generational impact that this kind of economy has.”

Surviving, Not Thriving Maui resident Brandee Carvalho is constantly on the move. She’s a wife, a mother of four children, works two jobs, advocates for economic justice and volunteers as a mental health first aider.

But as part of an ALICE household, she also frequently assesses her family’s finances – a process she likens to the game of Tetris. How much of this month’s pay will go to groceries? How much for child care? How much for gas? What can I spend less on so I can pay for X? She says some families might be able to pick up extra work, but that requires other sacrifices.

“If you have young children – I have young children – what does that look like for quality care to spend time with the family or just have the energy or mental

strength to really be in the moment and be present when you are spending time with your family and you’re not so tired or exhausted because you’re working two, three jobs just to keep up with the changes and the rise in costs?” she asks.

The divide between who can make it in Hawai‘i and who can’t is growing. In 2007, 22% of Hawai‘i households were ALICE; in 2018, 33% were. And during that time, 9% of households were living in poverty.

After the pandemic arrived in 2020, the percentage of local ALICE households jumped to an estimated 40%. An additional 19% of households were believed to be living in poverty, according to a June 2020 estimate by the Hawaii Data Collaborative. (tinyurl.com/HIdataAlice) That means more than half of Hawai‘i’s population is struggling to make ends meet.

“This is the Reality for Most of Us” “More and more in our community are falling into the ‘I just can’t make it here.

It doesn’t work out, the cost of living has not kept up with my salary,’ ” says Deborah Zysman, executive director of the Hawai‘i Children’s Action Network.

Zysman says that even though more than half of Hawai‘i’s population is struggling to get by, there’s often a misconception that we’re talking about “some other people, those people over there.”

“The reality is: This is the reality for most of us. Many of us have lots of student debt, many of us have jobs – even education is not enough because many people went to college and have a college degree,” she says. “And that job they can get with a college degree does not pay enough to pay off the debt.”

The 2022 legislative session saw the passage of several bills that can help ALICE families. Among them: a record $600 million allocation for Hawaiian homelands, a $200 million investment in preschools, incremental increases that will raise the state’s minimum wage to $18 in 2028, and legislation making the state’s earned income tax credit permanent and refundable. The state EITC would have otherwise expired at the end of this year. At press time, Gov. David Ige signed all but

the $600 million Hawaiian homelands bill into law.

According to Aloha United Way’s 2020 ALICE report, a single adult needs to make $15.53 an hour to cover basic essentials – housing, transportation, health care, food, a smartphone plan, taxes – and maintain a small savings account for emergencies. The report calls this the ALICE Household Survival Budget, and the numbers are based on 2018 data.

A household with one adult and one child needs to earn $23.42 an hour, and a household with an adult and one child in child care needs to earn $27.04 an hour.

Essential Jobs ALICE workers hold hundreds of different jobs: They are retail salespeople, child care providers, carpenters, security guards, janitors, housekeepers and servers. They are essential to a functioning society and the state’s economy.

Zysman says society will always have a need for people to work those jobs, so the solutions shouldn’t just be about retraining workers to move into higher-paying industries. It’s also about lowering the cost of living, raising the minimum wage and other ways to get more money into residents’ pockets.

“We have to figure out a way people can work in a service industry, a factory industry – those are good jobs,” she says.

“We need those jobs in our community.”

And people working those jobs, she says, should be able to afford a place to live, with food on their tables and child care and education for their children.

Making the state EITC permanent and refundable is one way to do that, she says.

A January 2022 brief (tinyurl.com/HIeitc) by the Hawai‘i Children’s Action Network, the Hawai‘i Budget and Policy Center, and the Hawai‘i Appleseed Center for Law and Economic Justice reports that the EITC is an effective anti-poverty tool.

The brief reports that EITC is linked to better outcomes for children of the credit’s recipients, such as being less likely to have a low birth weight, higher high school and college graduation rates, and is associated with increased earnings later in life. Households with several keiki tend to benefit the most from the credit as the amount received is based on income and family size.

Impacts of Refundable EITC Making the state EITC refundable means that a worker who has a tax liability that is smaller than the credit can receive a check for the difference. Even those who owe no money in taxes will still get money from the government. A permanent EITC will help families ensure they can pay their bills, which means less stress for them and fewer people having to work multiple jobs, Zysman says.

“Many of us have lots of student debt, many of us have jobs – even education is not enough because many people went to college and have a college degree. And that job they can get with a college degree does not pay enough to pay off the debt.”

DEBORAH ZYSMAN Executive Director, Hawai‘i Children’s Action Network

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Those who will benefit the most from a refundable state EITC are Pacific Islanders and Native Hawaiians, according to the January 2022 brief.

These two groups are more likely than other ethnic groups to earn low wages.

An estimated 12% of Native Hawaiians and 18% of Pacific Islanders currently receive the credit, compared with 9% of the entire state.

Calculations by the Institute for Taxation and Economic Policy estimate that the average credit amount would increase by $174 for the 2022 tax year for Pacific Islanders and by $138 for Native Hawaiians.

“From our perspective, this also goes to help right things the way they should be and gets some money into the hands of those who really need it,” Zysman says.

Paths to Greater Economic Prosperity

Mehanaokala Hind of the Council for Native Hawaiian Advancement helps lead the council’s workforce training academies.

Kauhane says cross-sector collaboration is required to address the deep issues that impact Hawai‘i’s ALICE families.

One effort underway is the ALICE Initiative 2022-2024 cohort. The collaboration of 17 local nonprofits will collectively receive $4.5 million from Aloha United Way and the Hawai‘i Community Foundation over the next three years to help ALICE households improve their finances and find affordable housing.

“As ALICE households make even modest improvements, that has an expanded effect on their financial stability and even on the assets and opportunities for the next generation, so we are foremost working to begin to move to increase income and/or reduce expenses in ways that move more families closer to and eventually above the ALICE threshold,” says Suzanne Skjold, COO of AUW. One way to do that is through programs that train residents for higher-paying jobs. The Council for Native Hawaiian Advancement’s Hawaiian Trades Academy helps people on O‘ahu, Kaua‘i, Maui and Moloka‘i prepare for firefighter and police exams; earn Class A commercial driver’s licenses; and get into entry-level craftsman, carpentry and solar installation positions. Over 8

to 14 weeks, participants develop trade skills, gain certifications, learn about Hawaiian culture, take a financial literacy class and work with mentors.

The goal is to raise the household income of local families by providing an affordable path to trade jobs, says Hind, the council’s senior director of community programs. The academies are offered free or at low cost. The fee for the O‘ahu commercial driver’s license program is $250, while the O‘ahu solar energy program requires a $100 participation deposit that will be refunded upon program completion.

“We’ll have members of our community who don’t have either the time or the money to go to another institution like a four-year college education and/ or even the private sector to go get this type of training,” she says. “How do we provide access to them? We knew that cost and time are usually the two biggest barriers for everybody.”

Financial Education The nonprofit InPeace’s financial education program started with a workshop at Wai‘anae District Park about 10 years ago.

Saydee Pojas was working in InPeace’s early childhood program; she says she wanted to help people avoid the financial struggles she encountered as a young adult. About 30 people showed up eager to learn.

InPeace’s Ho‘oulu Waiwai (“to build wealth”) program has been running for eight years now and has provided financial workshops and counseling for over 1,600 people, most of them Native Hawaiian. The program uses mo‘olelo (Hawaiian stories) and ‘ōlelo no‘eau (Hawaiian proverbs) to help participants better understand financial concepts.

“If you’re talking about how people would fish and only take enough for their family but then make sure there’s still some in the water to fish later, it’s the same concept with your money,” Pojas says.

“How do you make sure you have enough for now but how do you save some for later and let it grow a little bit longer? It’s in that teaching that we’ve been able to help peo-

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ple grasp that knowledge a little bit easier.”

Topics include estate planning, budgeting, paying for college or child care, borrowing money and maximizing one’s income. Participants can drop into whichever workshops meet their needs.

Pojas says the program has served ALICE families that over time have been able to reduce debt, move out from their relatives’ homes and purchase their own places.

Participants have been able to decrease their debt by an average $3,302 per year. The average credit score increase is 52 points. What’s been key, she says, is letting participants take the lead on how they want to grow. InPeace’s staff provides the guidance and motivation.

Build Resilience

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and magnified in a way that other people can hear them.”

Uplifting Community Voices Several other nonprofits also have projects to help ALICE households engage in policy and decision-making.

The Hawai‘i Children’s Action Network has run a free Parent Leadership Training Institute for the last six or seven years to transform adults into change agents. Participants who care about the well-being of children and families attend 20 weekly sessions to learn about public speaking, the change process, how government works, budgets and the power of media. They also work on personal projects.

Carvalho, the Maui resident, is a 2021 PLTI alumna.

Her project at the training institute was to educate parents about preventing teen suicide. Since graduating, she has volunteered as a mental health first aider and joined the E Ola Hou Prevent Suicide Task Force.

“Without HCAN and PLTI, I would have no direction,” she says. “I wouldn’t have a clue or knowledge that any of these opportunities exist.”

Angie Solomon is the coordinator for Student Parents at UH Mānoa, where she helps student parents navigate campus life and policies, apply for benefits and find resources. While she’s not ALICE herself, many student parents are. She says PLTI helped her learn about the inner workings of government and how to be a better advocate for issues she’s passionate about.

A program supported by the Hawai‘i Appleseed Center for Law and Economic Justice and other organizations has had similar outcomes. The Affordable Hawai‘i for All Fellows comprises emerging

“As ALICE households make even modest improvements, that has an expanded effect on their financial stability and even on the assets and opportunities for the next generation.”

Staff members at Kōkua Kalihi Valley Comprehensive Family Services are shifting their approach from economic assistance to economic agency. The health center serves almost 11,000 patients a year across nine locations and through programs that connect residents to the land, food and culture. A little more than half of them live below the federal poverty limit.

During the pandemic, the organization delivered food and helped residents enroll in Medicaid and collect rental assistance, unemployment insurance and other benefits.

Community Projects Coordinator Michael Epp says KKV wants to build and celebrate the resilience in its community by helping households move away from emergency benefits and toward their aspirations.

This shift to economic agency is still in the early stages. But Epp envisions KKV helping to connect prospective business owners with business incuba-

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tors, and aspiring nursing students with scholarship programs. And KKV would work with the whole household, not just an individual, Epp adds.

This initiative builds on the health center’s existing programs, relationships and partnerships. It’s another way that KKV follows the lead of the community, says Megan Inada, a research coordina-

SUZANNE SKJOLD COO, Aloha United Way

tor. And the staff plans to learn from the experiences and advice of Kalihi residents who have both received and been denied assistance during the pandemic.

That flips the script to show that they’re not recipients but advocates fighting for their own community, she says. “We know that they have the best perspective on that, of what is needed to be done. We’re trying to give them a platform so that their voices can be heard

Saydee Pojas helps lead InPeace’s Ho‘oulu Waiwai (“to build wealth”) program. It provides personal-finance workshops and counseling using mo‘olelo (Hawaiian stories) and ‘ōlelo no‘eau (Hawaiian proverbs) to help participants better understand financial concepts.

community leaders who have experienced housing instability or homelessness. They share their perspectives with one another and with policymakers, and get training on the legislative process, and they receive a stipend for their time.

Kenna StormoGipson is the director of housing policy at the Hawai‘i Budget and Policy Center, which is a Hawai‘i Appleseed program. She has seen fellows grow from being intimidated or confused about the legislative process to being confident and engaged in submitting testimony, speaking at committee hearings and sharing their experiences.

They’ve also done things like sifting through hundreds of housing-related bills to set the legislative priorities for the Hawai‘i Housing Affordabili-

ty Coalition, and helping to design a temporary state Covid rent relief and mortgage assistance program (tinyurl. com/23rhwrsf ). And they inspired the creation of a Hawai‘i delegation that traveled to a June international housing conference in Finland to look at housing solutions.

Lived Experience Lindsay Pacheco is an Affordable Hawai‘i for All fellow and a co-founder of Ka Po‘e o Kaka‘ako, a group of current and formerly houseless individuals trying to change the way homelessness is addressed. She writes in an email that being a community voice means she can speak on behalf of those who are afraid

to speak for themselves: “It allows me to confidently speak up when decisions about our houseless folks are being discussed, allowing me to either disagree or agree, resulting in changing people’s hearts and minds.”

The work with the Affordable Hawai‘i for All fellows has also caused Hawai‘i Appleseed to change the way it thinks about solving Hawai‘i’s largest problems and to focus on including the perspectives of community members who are most hurt by those problems, says Gavin Thornton, the nonprofit’s executive director.

“I think bringing people with lived experience into the conversation, it isn’t just to learn about the impact of policies from their point of view, but also to bring

H AWA I I B U S I N ES S

55

Addressing Poverty Parents and Children Together’s work to address poverty takes a similar approach. It encourages partners and community members to broaden their understanding of the causes and solutions of poverty by helping them form relationships with people in poverty and with people trying to address it. Dawn Kurisu, PACT’s VP of strategy and innovation, says it also highlights the importance of seeing individuals who are under-resourced as problem solvers.

PACT holds Getting Ahead courses to help individuals build resources and skills that can help them grow in their careers and financially. During

“We’re trying to give them a platform so that their voices can be heard and magnified in a way that other people can hear them.”

MEGAN INADA Research Coordinator, Kōkua Kalihi Valley Comprehensive Family Services

the 16-session program, participants discuss their resources, how to make changes, community engagement, the causes of poverty, the hidden rules of different socioeconomic classes, and how they plan to achieve their own goals. Participants are seen as experts on their own lives and communities, and they are compensated for sharing their time and expertise.

Kurisu says 88 residents have graduated from 13 Getting Ahead cohorts.

Over 90% of them have increased or maintained their economic stability during the pandemic, and some have

InPeace’s Ho‘oulu Waiwai program provides culturally relevant financial workshops and one-on-one coaching.

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AU G U S T 2 0 2 2

even reported increased credit scores and savings, promotions at work, or finding better jobs. The vast majority have also made tangible progress toward the goals they set while in the program, such as owning a home, going back to school or increasing their family’s savings.

“I’m Going to be OK Now” Two summers ago, Tyren Kahala worked as a school bus operator and trainer. After his shift ended, he’d spend three evenings a week in Kapolei, training to get a Class A commercial driver’s license, a certification that would enable him to further his career.

He’s now the lead trainer for his division – a promotion that gives him more hours and better pay. He says he’s indebted to the Council for Native Hawaiian Advancement’s training program.

Kahala says the classes were “well worth it,” adding that most of the participants had low incomes. “I’m pretty sure they’re using their license to make better accomplishments and make better finances, because I know I did.”

Hind, CNHA’s senior director of community programs, says participants enter the Hawaiian Trades Academy searching for opportunity. When they leave, they know their newly gained knowledge and skills will help them improve their lives.

One participant’s story sticks with her. He shared at graduation that his uncle told him he will never go hungry again now that he has a commercial driver’s license: “Now it really sinks in that hey, I’m going to be OK. I’m going to be OK now.”

PHOTO: COURTESY OF INPEACE

hope and inspiration into the conversation,” StormGipson says.

“It seems counterintuitive sometimes that the people who are maybe struggling the most would have the most hope or the most courage to do something, but that is where you get the strength and I think the resilience to do something about these really difficult problems.”

HAWAII BUSINESS MAGAZINE PRESENTS THE 2O22

TOP

The 39th annual ranking of Hawai‘i’s largest companies and nonprofits 57

Many Signs of Strength

THE TOP 250 RANKING OF HAWAI‘I’S BIGGEST ORGANIZATIONS REFLECTS A YEAR WHEN TOURISTS RETURNED, REAL ESTATE PRICES SOARED AND PEOPLE WENT SHOPPING AGAIN

By Cynthia Wessendorf

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AU G U S T 2 0 2 2

TH E 39 T H EDITION OF TH E TOP 250 LIST offers a welcome picture of an

economy in rebound. This annual survey tracks fluctuations in the fortunes of individual companies and specific sectors, as well as the overall business climate in Hawai‘i.

Each year, Hawaii Business Maga-

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zine asks hundreds of companies and nonprofits to share their gross revenue figures from the previous year.

Most of the information we collect is self-reported, while some comes from public sources. Locally based companies report all their gross revenue; companies based elsewhere report their Hawai‘i revenue only.

Every sector was up in 2021, which is great news after a difficult 2020. Not only that, but few companies in our database had closed and few emails went undelivered.

Eugene Tian, chief state economist with the Department of Business, Economic Development & Tourism, says there’s no published government data on business closures last year. But in a survey completed in March 2021, 55% of local businesses reported being fully open, while 45% said they had cut their hours or were temporarily closed.

Only 1.8% – about 600 companies – planned to permanently close, says Tian. Of those, 81.8% were businesses with 10 employees or fewer, and 27.3% were in tourism-related industries such as retail and restaurants.

In another sign of strength, many more companies participated in Hawaii Business Magazine’s Top 250 survey this year. Last year, some companies did not complete the Top 250 survey – possibly because they did not want to report their weak 2020 numbers.

Another good sign: No. 250 on this year’s list reported $3.7 million in gross revenue. The 250th company on 2021’s list reported $1.3 million.

PHOTO: JEFF HAWE

Tourism Makes Big Gains

Hawai‘i’s visitor industry came back strong in 2021, with the crowds to prove it. UHERO data shows that about 6.8 million people arrived by air in 2021, up from 2.7 million in 2020 but well below the nearly 10.4 million in 2019.

More tourists meant more spending, which was up 152% in 2021 over

the year before, at nearly $13 billion, according to DBEDT. The first half of 2022 shows even more visitors and spending this year.

The return of tourists led to markedly better results for companies that rely on them. Among the 13 tourism companies that reported data for the Top 250, 2021 gross revenue was up by an average of 124% over 2020.

Total gross revenue among the group was more than $951 million in 2021, compared to just $397.5 million in 2020.

While that’s less than the $1.5 billion reported in 2019, the gap is closing.

Hotel Companies and Airlines

The largest tourism company on the Top 250 is Kyo-ya, which owns the Royal Hawaiian, Sheraton Waikiki, Moana Surfrider and Sheraton Maui Resort & Spa, among others. The company’s gross revenue was up nearly 120% from 2020, at $405.3 million, though still below $713.3 million in 2019.

Second-largest Prince Resorts reported $195 million in gross revenue in 2021, only slightly below its $196 million in 2019. And Kawailoa Development LLP, which owns the Grand Hyatt Kauai Resort & Spa and Poipu Bay Golf Course, reported $104.5 million in gross revenue in 2021 – down about 20% from 2019.

The airlines transporting people to the Aloha State saw similar gains.

Hawaiian Airlines reported an 89% increase in gross revenue in 2021 over 2020, and Alaska Airlines reported an almost 147% rise. Both, however, still trailed 2019 results.

Matson’s Best Year Ever

While airlines were still working their way back to pre-pandemic levels, the shipping industry reported phenomenal growth in 2021.

Matson, Hawai‘i’s largest shipping company, saw gross revenue rise by nearly 65% in 2021, to $3.925 billion. In 2020 and 2019, the figures were $2.38 billion and $2.2 billion respectively. Net profit in 2021 was more than $927 million, up

from $193 million the year before.

Matt Cox, chair and CEO of Matson, says the bulk of that growth came from a spike in demand for goods from China.

“Half the world’s air cargo was carried in the bellies of passenger planes. When the pandemic hit, half of the capacity disappeared in literally a week,” he says. So many goods, including scarce personal protective equipment, had to be transported by boat.

Expanded China Routes

Matson was poised to act. The company runs an established weekly trans-Pacific line that launched in 2006 between the mammoth ports of Xiamen, Ningbo and Shanghai in China and Long Beach, California.

In 2020, Matson quickly opened a second weekly China-to-Long Beach line, and in 2021, the company launched a third service from China to Oakland, California. According to earnings reports, Matson’s container volume from China to the West Coast increased 55.4% in 2021 over the previous year.

International shipping is big and competitive, and Matson is “quite a small player in global markets,” says Cox. “We don’t strive to have a worldwide footprint.” But he says the company recognized sooner than other shippers that consumer demand was rising despite the economic uncertainty of a pandemic.

“We made a very significant move and leased every ocean container in the world that we could get our hands on and positioned ourselves well,” he explains.

Bypassed Congestion at West Coast Ports

In addition to chartering containers and ships, Matson owns its own fleet of vessels, and its three trans-Pacific lines are faster than competitors, says Cox. The company also operates

H AWA I I B U S I N ES S

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its own West Coast terminals, partners with trucking companies, and owns containers and chassis, thus bypassing much of the congestion at the ports.

“Given the chaos and turmoil in the supply chain, we stand out head and shoulders better,” says Cox. All told, “2021 was our best year in the company’s 140-year history.”

Another factor adding to Matson’s earnings was a dramatic rise in international freight rates, which more than quadrupled since 2019.

“There was an explosion in e-commerce and people doing things like remodeling houses, resulting in a ton of spending on goods, which overwhelmed cargo capacity,” explains Cox. “Every ship had significantly more demand than it could possibly carry.” The result was ballooning freight rates.

However, Cox notes that rates for domestic shipments from the U.S. mainland to Hawai‘i and Alaska have been rising at a more modest 3% or 4% a year, along with charges for escalating fuel costs.

“We used the launch pad of Hawai‘i to expand. But Hawai‘i is always our home and our first place of responsibility,” says Cox. Other local shipping companies also experienced growth. Pasha’s gross revenue was up 18.2% in 2021, while Young Brothers was up 36.6%.

Construction Holds Steady

In 2020, construction was a stabilizing force in the state’s economy, making up 6.2% of GDP. While tourism languished, projects such as new and remodeled homes, hotel renovations, infrastructure work and military construction continued through the shutdown.

Last year, construction remained strong. The 36 construction and development companies on the current Top 250 list reported an average 11.3% rise in gross revenue over 2020. The companies’ average gross

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revenue was more than $110 million in 2021, compared with $96 million in 2020.

Employment was flat, with the average number of full-time employees at about 187 in 2021 and 182 in 2020.

Real Estate Grows Frenzied

Bidding wars, cash-only offers and houses selling in just nine days on average: Real estate went nuts in 2021.

According to a Hawaii Business Magazine report from March 2022, sales of single-family homes and condos in 2021 jumped 29% over the pre-pandemic highs of 2019.

And prices rose even more. The total sales volume in 2021 was $22.2 billion – 64% higher than in 2019.

The heated market, combined with limited inventory, has created a housing crisis for many residents.

But for many sellers and real estate professionals, the picture looks quite different.

Among the 15 residential and commercial real estate companies on this year’s list, 2021 gross revenue averaged more than $102 million – up from $87 million in 2020 and $96 million in 2019.

Auto Dealerships Gain $1.1 Billion

Across the country, supply chain snarls have made cars and trucks increasingly difficult to find and expensive.

That translates to higher revenue for the Top 250’s 14 auto dealerships – including top-ranking Servco Pacific, which also has branches in musical instruments and venture/ growth capital. Total gross sales for the group was $5.1 billion in 2021, compared with about $4 billion in 2020 and $3.7 billion in 2019.

Jim Falk Automotive Group, the second largest auto dealer company on the Top 250, reported $411 million in gross sales in 2021. Even the smallest, Hilo-Kona Mazda Subaru Hyun-

HOW WE COMPILE THE TOP 25O Top 250 companies and nonprofits are ranked by gross sales or gross revenue, key indicators of market strength and influence.

Each spring, Hawaii Business Magazine surveys companies in our database and gathers updated financial figures, employee counts, names of executives and other information.

Businesses are asked to calculate gross sales using generally accepted accounting principles, while nonprofits report revenues from contributions, funding for services or proceeds from activities that support their missions. All provide the name of an executive who verifies the self-reported figures.

Companies headquartered in Hawai‘i report sales from all their subsidiaries worldwide; those based elsewhere report Hawai‘i figures only. While we prefer calendar year data, some organizations operate on a fiscal year.

To supplement the survey process, we draw on public records such as annual reports, financial statements, databases of the Federal Deposit Insurance Corp. and National Credit Union Administration, and insurance figures from the state Department of Commerce and Consumer Affairs. Special thanks to Cory Kubota, managing partner of Accuity, for lending his expertise.

Some companies with a large local presence don’t appear on the list. The omission is often because an offshore parent company can’t separate data for its Hawai‘i operations, or because the company is privately held and does not disclose financial information.

Top 250 executives are surveyed and profiled in our Black Book issue each December.

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dai, reported nearly $38.8 million in gross sales. Gross sales for the two companies were up 24% and 11.4%, respectively, over the prior year.

Punahou Doubles Its Gross Revenue

Among the 10 schools and universities on the 2022 list, most reported gross revenue that was fairly stable, ranging from 10% down at the UH System to 22% up at Hawaii Baptist Academy.

But Punahou School reported a

dramatic gain of 104%, with about $232 million in gross revenue in 2021 versus $114 million in 2020. Similar to Kamehameha Schools’ 88% jump in the 2021 edition of this list, school officials say they adopted an accounting change that affects how they report investments.

An added factor was that Punahou “saw favorable returns on our endowment investments, which are used to support school priorities such as financial aid,” the school says in a statement.

The total market value of endowed funds was $361 million in 2021 – a oneyear rise of $36.4 million.

“

I’m 100% sure that this super cycle we’re in will end and supply and demand gets back in balance.”

Matt Cox, Chair and CEO, Matson

Newcomers to the List

The Top 250 welcomes many newcomers to the list that come from a wide array of sectors. Listed by gross revenue size, the companies and organizations include: Honolulu Authority for Rapid Transportation, The Elite Companies, Corcoran Pacific Properties, Hale Koa Hotel, WestPac Wealth Partners Hawaii, Waikiki Health, Hawaii Baptist Academy, Hawaiian Humane Society, Elemental Excelerator, National Tropical Botanical Garden, Maunalani Nursing and Rehabilitation Center, Century 21 iProperties Hawaii, Mālama Solar, Aloha Green Holdings Inc., Life Cycle Engineering, ATN Construction, Alana Investment Group, Boys & Girls Club of Hawaii, Vivia Cares Inc., Integrated Facility Services Hawaii and Kona Coast Property Management.

Rising Inflation Looms

While the gains made in 2021 are heartening, inflation has been rising quickly, casting a shadow on Hawai‘i’s recovery.

Higher interest rates designed to lower inflation are cooling the housing market and visitor numbers could start dropping again as fares rise. Spending in general could fall as essentials like rent, food and gas get more expensive.

For the shipping industry, the insatiable demand for electronics, furniture and fashion from China is expected to dampen, potentially untangling supply chains but also slowing trade.

Matson’s Matt Cox nicely sums up prospects for 2022 and beyond: “I’m 100% sure that this super cycle we’re in will end and supply and demand gets back in balance.”

J O I N N E X T Y E A R ’ S T O P 2 5 0 If you would like to receive Top 250 surveys in the future or update your contact

information, please email cynthiaw@hawaiibusiness.com.

AWAIIII BBUUSSIINNES ESSS HHAWA

61 61

SPECIAL PROMOTIONAL SECTION

2022

Par Hawaii’s team of 660 employees is dedicated to meeting the state’s energy needs — safely, responsibly, and sustainably.

1904

A HISTORY OF PAR HAWAII

62

AU G U S T 2 0 2 2

1972 We started as The Gas Company in 1904 and as a way to provide more energy security for the islands, built a refinery in Campbell Industrial Park in Kapolei.

With the support of local government officials and Hawai‘i’s congressional delegation, the refinery began operations in 1972. Pacific Resources, Inc. (PRI) became the holding company of the refinery, and the company became Par Hawaii in 2013. The Gas Company was divested in 1997.

SPECIAL PROMOTIONAL SECTION

REINVENTING HAWAI‘I’S ENERGY FUTURE

F

or the past 50 years, Hawai‘i residents and businesses have counted on Par Hawaii to reliably and safely produce a range of petroleum-based products to meet their energy needs.

These products - gasoline, diesel, jet fuel, marine fuel, fuel oil for electrical power generation, and even asphalt for our highways and roads – have been central to Hawai‘i’s economy.

To support Hawai‘i’s transition to more renewable energy use and to reduce carbon emissions, Par Hawaii has already begun to explore ways to produce clean energy. The transition will not occur overnight. However, Par Hawaii is taking steps in the right direction.

POSITIVE CHANGES

“The Par Hawaii team includes talented engineers and other pro-

fessionals who are examining new ways to use our existing refinery and fuel distribution infrastructure to deliver energy to Hawai‘i’s consumers.

We recognize we cannot do this alone,” Eric Wright, Par Hawaii president said. “We’re collaborating with partners in a variety of sectors to ensure the science, commercial viability, and policies to support these positive changes are all aligned and help create a smooth transition for our state.”

VALUABLE PARTNERSHIPS

In partnership with Hawaiian Airlines, Par Hawaii has begun to look at ways to produce sustainable aviation fuels (SAF), right here in the islands, by reconfiguring existing processing units at the refinery. In addition, selected Hele and 76 stations operated by Par Hawaii are distributing biodiesel, produced in the islands by Pacific Biodiesel.

2022 2019

Par Hawaii invests $27 million in a distillate hydrotreater at its Kapolei refinery to produce more jet fuel and ultra-low sulfur diesel to meet local demand.

2022

Par Hawaii announces a partnership with Hawaiian Airlines to explore sustainable aviation fuels made locally from oil-producing crops and using Par Hawaii refinery’s distillate hydrotreater and another processing unit called the distillate hydrocracker.

As Par Hawaii builds a more resilient energy future, it is also supporting a range of nonprofit organizations with donations and employee volunteer time.

ENERGY ASSURANCE FOR THE FUTURE

“This is an exciting time to be an energy provider in Hawai‘i,” said Wright. “The 50th anniversary of our Kapolei refinery this year provided an opportunity for the Par Hawaii team to revisit the original purpose of the refinery and reflect on the outpouring of support from government, business, and community leaders to build our refinery back in the early 1970s.

We’re renewing our commitment to make energy assurance a priority for our state, now and into the future.”

A N N I VE R SA RY

Par Hawaii 91-325 Komohana St., Kapolei, HI 96707 (808) 547-3111 ParHawaiiHelp@parpacifi c.com www.ParHawaii.com

H AWA I I B U S I N ES S

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Biggest Gains Ranked by percentage change in gross annual sales/revenue Gain Rank

64

Company name

% increase, gross sales

Gross Annual Sales (2021)

Gross Annual Sales (2020)

Dollar Difference

Industry

1

Alana Investment Group, LLC

651%

$6,538,539

$870,616

$5,667,923

Other

2

Malama Solar

569%

$12,556,957

$1,876,938

$10,680,019

Energy

3

Hawaiian Telcom

406.3%

$1,693,100,000

$334,400,000

$1,358,700,000

Technology

4

Pleasant Holidays LLC

398.5 %

$32,900,000

$6,600,000

$26,300,000

Tourism/ Leisure

5

Catholic Charities Hawai'i

282.3%

$118,581,000

$31,014,000

$87,567,000

Nonprofit

6

Pacific Fleet Submarine Memorial Association

273%

$6,900,000

$1,850,000

$5,050,000

Tourism/ Leisure

7

Century 21 iProperties Hawaii

250.8%

$14,507,391

$4,135,721

$10,371,670

Real Estate

8

USS Missouri Memorial Association

192.7%

$14,051,700

$4,800,000

$9,251,700

Nonprofit

9

Kualoa Ranch Hawaii Inc.

185.6%

$50,533,044

$17,694,955

$32,838,089

Tourism/ Leisure

10

Kawailoa Development LLP

185.5%

$104,500,000

$36,600,000

$67,900,000

Tourism/ Leisure

11

Tanaka of Tokyo Restaurants Ltd.

162.7%

$10,967,708

$4,174,219

$6,793,489

Tourism/ Leisure

12

Kona Coast Property Management LLC (dba Kona Coast Vacations)

159.1%

$4,489,760

$1,733,124

$2,756,636

Real Estate

13

Alaska Airlines

146.6%

$456,700,000

$185,215,198

$271,484,802

Transportation

14

Aloha Harvest

137.7%

$3,730,947

$1,569,928

$2,161,019

Nonprofit

15

Layton Construction

134.2%

$191,327,000

$81,680,000

$109,647,000

Construction & Development

16

Na Hoku, Hawaii’s Finest Jewelers Since 1924

132.5%

$93,000,000

$40,000,000

$53,000,000

Retail/ Wholesale

17

The Polynesian Cultural Center

120.3%

$39,000,000

$17,700,000

$21,300,000

Tourism/ Leisure

18

Coconut Condos

119.9%

$3,797,305

$1,727,219

$2,070,086

Tourism/ Leisure

19

Kokusai Kogyo Kanri Kabushiki Kaisha - US Operations

119.7%

$405,271,091

$184,464,061

$220,807,030

Tourism/ Leisure

20

Punahou School

103.6%

$231,773,000

$113,850,000

$117,923,000

Education

AU G U S T 2 0 2 2

Driving to a Greener Future Whether you choose to drive an Electric Vehicle (EV ) or not, supporting the use of EVs can make a big difference for Hawai‘i, now and in the future.

BENEFITS FOR YOU Lower cost to drive – EV owners can save with less maintenance and lower cost per mile.

FOR HAWAI‘I

More renewable energy – Charging of EVs, especially buses, trucks, fleets and other heavy equipment, allows for more renewable energy on the grid.

Reduce electric rates – More EVs help to lower the unit cost of electricity and reduce rates for everyone.

FOR THE FUTURE

Fight climate change – More EVs help to reduce emissions of greenhouse gases, noise pollution and particulates.

100% clean transportation – Hawaiian Electric supports our 4 counties in their commitment to 100% clean transportation by 2045.

To learn more about the benefits of EVs, for both personal and commercial use, visit hawaiianelectric.com/goev

The

List Starts Here ‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

1

Hawaii Medical Service Association (HMSA) Health organization; health insurance. www.hmsa.com HMSA BSH Inc. Integrated Services Inc.

Mark Mugiishi - Pres., CEO David R. Herndon - Exec. VP, Chief Business Operations Officer Gina L. Marting - Exec. VP, CFO Janna L.S. Nakagawa - Exec. VP, Chief Administrative and Strategy Officer

2

Matson, Inc.

3

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$4,294.2 $4,075.1 $3,902.7

5.4% 4.4%

1,564 1,745

Matt Cox - Chair, CEO

$3,925.0 $2,383.3 $2,203.1

64.7% 8.2%

2,441 1,814

Servco Pacific Inc.

Mark H. Fukunaga - Chair, CEO Andy Mooney - CEO, Fender Musical Instruments Corp.

Patrick D. Ching - Pres., COO Michael N. Regan - Exec. VP, CFO Peter Dames - Exec. VP Peter Hirano - Exec. VP Nick Pappas - Mng. Dir., Servco Australia

$3,103.0 $2,350.0 $1,869.0

32.0% 25.7%

2,121 2,058

4

Hawaiian Electric Industries, Inc.

Scott Seu - Pres. and CEO Gregory C. Hazelton - Exec. VP and CFO Kurt K. Murao - Exec. VP, General Counsel, Chief Adm. Officer and Corp. Sec.

$2,850.4 $2,579.8 $2,873.9

10.5% -10.2%

3,597 3,702

5

Par Hawaii, LLC

Eric Wright - President Keith Yoshida - VP, Business Development Michael Vierra - VP, GM Par Hawaii Refinery Eric Lee - VP, Retail Mark A. Hepburn - VP, Logistics Marc Inouye - Director, Government & Public Affairs

$2,763.8 $1,953.0 $3,614.7

41.5% -46.0%

636 663

1 1

3 5

4 7

2 3

6 2

66

CHIEF EXECUTIVES

Ocean transportation, logistics and supply chain services. www.matson.com Matson Terminals Inc. Matson Logistics Inc. Automotive distribution and retail, musical instruments, car sharing, venture/growth capital. www.servco.com Servco Foundation Fender Musical Instruments Corp.

Servco Australia Hui Car Share Fukunaga Scholarship Foundation Energy and financial services. www.hei.com Hawaiian Electric American Savings Bank Pacific Current

Refining, distribution and marketing of petroleum products and transportation fuels throughout Hawai‘i. www.parhawaii.com Par Pacific Holdings Inc. Par Hawaii Refining, LLC

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

CENTRAL PACIFIC BANK

FOU N D E D O N S E RVICE , D RIVE N BY CO M M ITM E NT AN D FU E LE D BY I N N OVATIO N

C

entral Pacific Bank was founded by war veterans who simply wanted to provide a better life for their families. Over the years the institution has always been driven by a commitment to serving the customers and communities across Hawai‘i. Today, the bank is over $7 billion strong, with over 800 committed employees whose values reflect those of their founders.

Most recently, CPB has totally reimagined its banking experience, and their new downtown headquarters reflects that, including their unique “Tidepools” coworking space and inclusion of popular eateries.

Central Pacific Bank has also adopted a “digital first” model for all banking services, including:

• Shaka Checking – Hawai‘i’s first (and only) all-digital banking account.

• Top-rated OS and Android mobile banking apps for all everyday banking needs.

• Hawai‘i’s first online chat feature from computers or smartphones.

• Consolidation of all online financial relationships in one place.

• State-of-the-art ATMs in more locations.

• Innovative digital tools for businesses small or large.

They call it “Digital Banking the CPB Way,” and even more innovative solutions are coming soon in both personal and business products.

But even with their commitment to state-of-the-art technology, CPB carries on its long-standing tradition of exceptional service, with experienced branch staff and highly rated customer satisfaction.

CPB is also a strong advocate for the community.

2022

During the pandemic, they were the single largest provider of PPP funding for local businesses, and their “Keep Hawaii Cooking” program supported the highly impacted local food service industry and their customers.

CPB’s Rising Tide program launched last summer to help advocate for Hawai‘i’s small business community. Through Rising Tide, members have access to assistance programs and education resources, as well as priority to bookable conference rooms at CPB’s Tidepools coworking space.

CPB Foundation is dedicated to programs that support our diverse community, education, women entrepreneurs, small businesses, youth sports, agricultural and environmental initiatives, and pathways to explore new opportunities for Hawai‘i’s ‘ohana to reach their full potential.

Central Pacifi c Bank 220 South King Street Honolulu, HI 96813 (808) 544-0500 www.cpb.bank

H AWA I I B U S I N ES S

67

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

6

Kaiser Permanente Hawaii

Greg Christian - Hawaii Market Pres., Kaiser Foundation Health Plan and Hospitals John Yang, MD - Pres. & Medical Dir., Hawaii Permanente Medical Group

7

University of Hawai‘i

8

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$1,882.4 $1,846.3 $1,758.2

2.0% 5.0%

2,749 2,811

David Lassner - Pres.

Debora Halbert - VP Academic Programs & Policy Jan Gouveia - VP Administration Kalbert K Young - CFO, VP Budget & Finance Erika Lacro - VP Community Colleges Garret Yoshimi - CIO, VP Information Technology Carrie K. S. Okinaga - VP of Legal Affairs, University General Counsel Vassilis L. Syrmos - VP Research & Innovation Timothy Dolan - VP Advancement

$1,760.8 $1,956.8 $1,871.1

-10.0% 4.6%

7,896 8,376

Hawaiian Telcom

Su Shin - Pres., GM Kevin Paul - Sr. VP Business Services, Hawaiian Telcom / CBTS Jason Fujita - VP Sales

$1,693.1(1) $334.4 $347.0

406.3% -3.6%

1,100

9

The Queen’s Health Systems

Jill Hoggard Green - Pres., CEO Whitney Limm - Exec. VP, Chief Physician Exec.

Paul McDowell - Exec. VP, CFO Jason C. Chang - Exec. VP, COO Eric K. Martinson - Exec. VP Endowment, Chief Investment Officer Whitney Limm, M.D. - Exec. VP, Chief Physician Exec.

Rowena Buffett Timms - Exec. VP, Chief Administrative Officer Kelly M. Johnson - Sr. VP, System Chief Nursing Executive Todd L. Allen - Sr. VP, Chief Quality Officer George Rick Bruno - Sr. VP Susan R. Murray - Sr. VP, West O‘ahu Region Cindy Kamikawa - Pres., Queen’s North Hawai‘i Community Hospital Janice Kalanihuia - Pres., Molokai General Hospital John Nitao - EVP, General Counsel

$1,607.9 $1,510.9 $1,427.0

6.4% 5.9%

8,426 7,913

10

Hawaiian Airlines

Peter Ingram - Pres., CEO Lawrence Hershfield - Chair Shannon Okinaka - Exec. VP, CFO Jon Snook - Exec. VP, COO Aaron Alter - Exec. VP, Chief Legal Officer, Corp. Sec.

$1,596.6 $844.8 $2,832.2

89.0% -70.2%

5,667 5,557

11

Hawai‘i Pacific Health

Raymond P. Vara - Pres., CEO Leslie B. Chun - CEO, Hawai‘i Pacific Health Medical Group David Y. Okabe - Exec. VP, CFO, Treasurer Charles R. Ching - Exec. VP & General Counsel Steve Robertson - Exec. VP, CIO, Revenue Management and Information Technology Melinda Ashton - Exec. VP, Chief Quality Officer Art W. Gladstone - Exec. VP, Chief Strategy Officer Jen H. Chahanovich - Pres., CEO, Wilcox Medical Center; CEO, Kaua‘i Medical Clinic David Underriner - Exec. VP, O‘ahu Operations; CEO, Kapi‘olani Medical Center for Women & Children, Pali Momi Medical Center and Straub Medical Center

$1,479.2 $1,369.4 $1,403.1

8.0% -2.4%

7,119 7,102

7

5 6

23 27

8 8

11 4

9 9

68

Nonprofit integrated health care organization, health plan and medical care. www.kp.org Kaiser Foundation Health Plan & Hospital Inc. Kaiser Foundation Health Plan Inc. Kaiser Foundation Hospitals Inc. Higher education and research. www.hawaii.edu and www.uhfoundation.org

Leading provider of integrated communications, broadband, data center and entertainment solutions for business and residential customers. www.hawaiiantel.com Cincinnati Bell SystemMetrics, a Hawaiian Telcom company Acute care medical facility with programs in cancer, cardiovascular disease, neuroscience, orthopedics, organ transplantation, surgery, emergency medicine, trauma, and behavioral medicine. www.queens.org Primary Care Physicians Enterprise, LLC Molokai General Hospital The Queen’s Medical Center Queen’s ‘Akoakoa LLC Hamamatsu/Queen’s PET Imaging Center LLC Queen’s Development Corporation CareResource Hawaii Queen’s North Hawai‘i Community Hospital Queen’s MSSP ACO, LLC Queen’s Insurance Exchange Inc. Diagnostic Laboratory Services Inc. Queen Emma Land Company Airline. www.hawaiianairlines.com Hawaiian Holdings Inc. Hawaiian Airlines, Inc. Adult, pediatric, obstetric and women’s health services; primary care through tertiary-level specialty services; research and teaching via four medical centers and through nearly 700 health care providers statewide. www.hawaiipacifichealth.org Hawai‘i Pacific Health Medical Group Pali Momi Medical Center Straub Medical Center Kapi‘olani Medical Center for Women & Children Wilcox Medical Center

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

HAWAIIUSA FEDERAL CREDIT UNION

2022

B ECO M E A M E M B E R , JO I N TH E ‘O HANA TH E HAWAI I USA D I FFE RE N CE

A

t HawaiiUSA Federal Credit Union, it’s more than just being able to serve all our members, local businesses, and communities with their banking needs. It’s about ensuring that through all our actions what’s resoundingly clear is that your financial wellness matters to us. That’s because as a member of Hawai‘i’s largest credit union, you’re both an owner and a customer. Looking out for our members’ best interests is more than a tagline; it’s the way we do business.

SAY “YES” TO M O RE

We’re always looking for bigger and better ways to pay it forward to our members. From cash rewards to discounts on already competitive rates, members see their money go even

further with the complete offer of banking products and services available in all of our 14 branch locations across O‘ahu, Maui, Hawai‘i Island, and Kaua‘i, as well as online at hawaiiusafcu.com. And with our comprehensive Digital Banking and Mobile Banking tools and resources available for free, members can manage their accounts and payments conveniently on their own schedule—whether on the go or at home.

TRUST TH ROUG H TRAN S PARE N CY, PEACE O F M I N D WITH E N HAN CE D S ECU RITY

We respect our members right to information and can proudly say we never charge hidden fees. And in the event of any suspicious activity occurring with a member’s account, our team of highly trained experts make it their highest priority to investigate and get to the bottom of any concerns. Your privacy and security are our commitment.

Joining is fast, simple, and membership eligibility is open to anyone meeting any of the following criteria: 1) in the field of education as an employee, retiree, student, or student’s parent in a majority of Hawai‘i schools, pre-K through 12th grade, 2) affiliated with any of our 4,900+ Select Employee Groups (SEGs), or 3) an immediate family member of a HawaiiUSA member. With all those options, nearly everyone can become a HawaiiUSA member!

HawaiiUSA Federal Credit Union 1226 College Walk, Honolulu, HI 96817 (808) 534-4300 hawaiiusafcu.com

H AWA I I B U S I N ES S

69

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

12

Island Energy Services LLC

Jon Mauer - President & CEO Ryan Chavoustie - VP, Commercial Sales and Marketing Albert D. K. Chee - VP, Retail Marketing & Community Relations Mark Dangler - VP, Logistics Timothy J. Parker - VP, General Counsel

13

First Hawaiian Bank

14

15

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$840.0 $490.0 $1,030.0

71.4% -52.4%

218 215

Robert S. Harrison - Chairman, Pres. & CEO Christopher L. Dods - Vice Chair & COO Alan H. Arizumi - Vice Chair, Wealth Management Group Lance A. Mizumoto - Vice Chair, Chief Lending Officer Ralph M. Mesick - Vice Chairman, Chief Risk Officer, Risk Management Group and Interim Chief Financial Officer Neill A. Char - Exec. VP, Retail Banking Group Joel Rappoport - Exec. VP, General Counsel and Secretary Iris Matsumoto - Exec. VP and Chief HR Officer Gina Woo Anonuevo - Exec. VP and Chief Compliance Officer

$734.2 $780.1 $871.2

-5.9% -10.5%

2,063 2,139

Bank of Hawaii Corp.

Peter S. Ho - Chair, Pres., CEO James C. Polk - Vice Chair & Chief Commercial Officer, Trust Services Group and Bankoh Investment Services Inc. Mary E. Sellers - Vice Chair, Chief Risk Officer Dean Shigemura - Vice Chair, CFO Sharon M. Crofts - Vice Chair, Client Solutions Group

$698.1 $730.8 $770.7

-4.5% -5.2%

2,000 2,022

State Farm Insurance Co.

John Meyers - State Farm Sales Leader, Hawai‘i

$679.8(2) — $299.8(2)

Hawaiian Dredging Construction Company, Inc.

Gerry Majkut - Pres.

Eric Hashizume - VP Building Ryan K. Nobriga - VP Finance Cedric Ota - VP Waterfront & Foundation Paul Silen - VP Commercial Andre Wong - VP Preconstruction Services and Marketing Len Dempsey - VP Heavy Theron Holloway - VP HDCC Guam Tom Valentine - Division Mgr., Power & Industrial

$608.0 $587.0 $514.0

3.6% 14.2%

832 882

17

Pasha Hawaii

George W. Pasha, IV - Pres., CEO

$605.0 $512.0 $578.5

18.2% -11.5%

473 443

18

Adventist Health Castle

Ryan Ashlock - Pres.

Heidar Thordarson - Finance Officer Katherine Saavedra - Operations Executive Erik Anderson - Patient Care Executive Robert Smitson - Medical Officer Jesse Seibel - Mission and Community Integration Exec.

$570.0 $497.9 $507.0

14.5% -1.8%

767 639

17 10

12 11

13 12

34

16 14 17

15 15

16 18

70

CHIEF EXECUTIVES

We safely supply, transport, and market products and services critical to the State of Hawai‘i. We are serving today’s energy needs while also adapting to changing marketplace conditions, including support for the transition to renewable and sustainable fuels. We are adjusting our business as needed to effectively support those goals. We are the licensee of 58 Texaco locations statewide. www.islandenergyservices.com One Rock Capital Partners LLC IES Downstream LLC IES Retail LLC Financial services. www.fhb.com First Hawaiian, Inc.

Financial services. www.boh.com Bank of Hawaii

Property and casualty, life, and health insurance; banking and mutual funds. www.statefarm.com State Farm Fire & Cas Co State Farm Mut Auto Ins Co

General contracting and preconstruction services. www.hdcc.com Kajima U.S.A. Inc.

Ocean transportation between Hawai‘i and the U.S. West Coast for containerized and roll-on/off cargo, including automobiles, oversized construction equipment, yachts and other cargo. www.pashahawaii.com The Pasha Group Hospital: emergency care, acute care, birthing center, cardiac surgery, surgical weight loss, home care, outpatient services, psychiatric services, joint and spine care center, oncology care, urology, and gastroenterology services.

Primary care and telehealth services. adventistheatlhcastle.org Adventist Health

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

HAWAIIAN TELCOM

CLOS I N G TH E D IG ITAL D IVI D E WITH FIO PTICS EXPAN S IO N

R

eliable, high-speed internet service is no longer a luxury; it’s a necessity. Lack of online access limits options for families and businesses.

Without it, children fall behind in school because they cannot participate in online classroom instruction, parents cannot conduct basic transactions or apply for jobs, and businesses cannot effectively compete in the global marketplace.

Technology and connectivity are critical to everyday life. Hawaiian Telcom is leveling the playing field and improving digital equity in Hawai‘i by ramping up its investment to expand broadband availability to more local businesses and families, including those in underserved

2022

communities. Last year, Hawaiian Telcom invested more than $100 million to expand and support its fiber network.

By the end of 2022, an additional 50,000 homes and businesses will have access to Hawaiian Telcom’s 100% fiber internet service Fioptics. More than half of these locations will be on the neighbor islands, including Moloka‘i and Lāna‘i.

Hawaiian Telcom is also expanding Fioptics to Kapa‘a on Kaua‘i, Wailuku on Maui, Kea‘au on Hawai‘i Island, and Nānākuli and Wai‘anae on O‘ahu.

This expansion will help to ensure that more people in more places have access to broadband service as Hawai‘i emerges from the economic hardships brought on by the pandemic. As everyone from business owners to students and families rely more than ever on their ability to connect, Hawaiian Telcom pledges to continue increasing digital equity by expanding its fiber network throughout our island state.

In addition to its statewide fiber

expansion, Hawaiian Telcom offers a range of advanced technology solutions for businesses. Hawaiian Telcom’s team of technology experts can partner with local businesses to help manage network infrastructure, implement cyber security measures to protect assets, achieve regulatory compliance and more.

Hawaiian Telcom is committed to helping families and local businesses imagine new possibilities to shape their future.

Hawaiian Telcom 1177 Bishop Street Honolulu, HI 96813 (808) 643-4411 hawaiiantel.com

H AWA I I B U S I N ES S

71

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

19

AlohaCare

Francoise Culley-Trotman - CEO Gary Okamoto - Chief Medical Officer David Robert Field - CFO Paula Arcena - VP External Affairs

20

Hawaii Health Systems Corp.

21

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$501.4 $447.4 $387.1

12.1% 15.6%

249 257

Linda Rosen - CEO Juanita Lauti - Chief HR Officer Renee Lai - CIO Edward N. Chu - CFO Anne E. Lopez - General Counsel

$495.2(3) $460.1(4) $447.9(5)

7.6% 2.7%

Kamehameha Schools

Livingston Wong - CEO Lance K. Wilhelm - Trustee Robert K.W.H. Nobriga - Chairman of the Board, Trustee Elliot K. Mills - Vice Chairman, Trustee Crystal Kauilani Rose - Secretary/Treasurer, Trustee Jennifer Noelani Goodyear-Ka‘ōpua - Trustee

$457.7 $483.5 $257.0

-5.3% 88.2%

3,357 2,283

22

Alaska Airlines

Ben Minicucci - President & CEO Shane Tackett - Exec. VP Finance and CFO Constance von Muehlen - Exec. VP and COO Andrew Harrison - Exec. VP and Chief Commercial Officer Diana Birkett Rakow - Senior VP, Public Affairs and Sustainability Daniel Chun - Sales, Community & PR Director Hawaii

$456.7 $185.2 $675.0

146.6% -72.6%

10 10

23

Nan Inc.

General construction. www.nanhawaii.com

Fooney Freestone - Pres.

Ryan Nakaima - SVP Wyeth Matsubara - VP Frank Okimoto - VP

$438.8 $415.4 $388.0

5.6% 7.1%

1,026 853

24

Nordic PCL Construction Inc.

Glen A. Kaneshige - Pres.

$417.0 $213.0 $152.0

95.8% 40.1%

250 250

25

Jim Falk Automotive Group

James J. Falk - Pres., CEO Michael Hebert - CFO

$411.1 $331.3 $373.1

24.1% -11.2%

257 272

26

Kokusai Kogyo Kanri Kabushiki Kaisha - US Operations

Takamasa Osano - Director, President Michael Takayama - Director, Senior VP Nobutada Nagai - Director, Senior VP Peter T. Kashiwa - Director, Secretary Emiri Osano - Director, VP Julie Nakayama - CFO, VP Lee Nakahara - Treasurer, VP Yasuhiko Ishikawa - VP Jason Ito - VP

$405.3 $184.5 $713.3

119.7% -74.1%

1,225 889

20 24

19 20

18 39

42 14

22 23

40 52

24 26

43 13

72

CHIEF EXECUTIVES

Health insurance. www.alohacare.org

Acute, long-term and rural health care provider. www.hhsc.org Ka‘u Hospital (East Hawai‘i region) Leahi Hospital (O‘ahu region) Hale Ho‘ola Hamakua (East Hawai‘i region) Yukio Okutsu State Veterans Home (East Hawai‘i region) Kona Community Hospital (West Hawai‘i region) Kohala Hospital (West Hawai‘i region) Samuel Mahelona Memorial Hospital (Kaua‘i region) Hilo Medical Center Foundation Maluhia (O‘ahu region) Kauai Veterans Memorial Hospital (Kaua‘i region) Private, nonprofit charitable educational trust. www.ksbe.edu Kamehameha Investment Corp.

Pauahi Management Corp.

Bishop Holdings

Commercial airline serving more than 120 destinations across the United States, Belize, Canada, Costa Rica and Mexico. www.alaskaair.com Alaska Air Group

General contractor. www.nordicpcl.com PCL Construction Services, Inc.

New and used automotive dealerships. www.valleyislemotors.com Valley Isle Motors Jim Falk Chrylser Dodge Jeep RAM Jim Falk Lexus of Beverly Hills (CA) Jim Falk Motors of Maui

Hotels and resorts.

Kokusai Kogyo Kanri Kabushiki Kaisha Moana Surfrider, A Westin Resort & Spa (dba) Palace Hotel (CA) (dba) Sheraton Princess Kaiulani Hotel (dba) The Royal Hawaiian Hotel (dba) Sheraton Waikiki Resort (dba) Sheraton Maui Resort & Spa (dba)

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

‘IOLANI SCHOOL

2022

cation. Through world-renowned facilities and instructors, students gain the skills to discover their passions, take risks, apply their talents to create award-winning work, and participate in nationally recognized teams that address real-world problems. Students are fortunate to learn in state of the art facilities, including: • Sustainably designed 40,000-square-foot Sullivan Center for Innovation and Leadership for students in grades 7-12 • Newly constructed 2-story Kaneshiro Science and Innovation Center for students in grades K-6

‘I

olani School is an independent, college preparatory school for students in kindergarten through 12th grade. Fostering educational excellence and personal growth in an environment that values collaboration, humility, and respect for all community members; ‘Iolani School develops liberally educated, well-rounded individuals who are prepared to lead and contribute as active moral citizens.

‘Iolani prides itself on being a tight knit community. “At ‘Iolani, you are known” is a core value and defines faculty and student life. An average class size of 16 students provides opportunities for personalized instruction and fosters nurturing relationships. More than 80% of Upper School faculty hold advanced degrees and 13% hold doctorate degrees.

The “One Team” motto expresses the spirit of unselfish cooperation

BOARDING

and mutual support among faculty, staff, parents, and students. Inside and outside the classroom, “One Team” holds members to a high standard of care and concern for all.

‘IOLANI EDUCATION HIGHLIGHTS:

• $7.3 million in financial aid • #1 NICHE.com independent school in Hawai‘i • 100 boarding students from around the world, including 17 countries • 90 + clubs and service organizations • 17 bands and orchestras • 105 athletic teams • 100% of graduates accepted to 4-year colleges

Built on the spirit of Aloha and our “One Team” philosophy, ‘Iolani has more than 150 years of history, embracing students from around the world. Our diverse population creates the opportunity to create meaningful, sustainable, and reciprocal relationships that stimulate the exchange of ideas, foster a deeper cultural awareness, and build students’ desire to improve the world around them.

INNOVATION & OPPORTUNITIES

‘Iolani School provides a myriad of opportunities that equip students to learn in an evolving world of information access, creation, collaboration, and communi-

‘Iolani School 563 Kamoku Street Honolulu, HI 96826 (808) 949-5355 www.iolani.org

H AWA I I B U S I N ES S

73

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

27

Alexander & Baldwin, Inc.

Christopher Benjamin - Pres., CEO Meredith J. Ching - Exec. VP External Affairs Brett Brown - Exec. VP, CFO Lance Parker - Chief Operating Officer Jerrod Schreck - Pres., Grace Pacific

28

ProService Hawaii

29

30

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$379.3 $305.3 $435.2

24.2% -29.8%

611 618

Benjamin A. Godsey - Pres. & CEO Michael Green - CFO Miki Hardisty - COO Michelle Kirk - VP of Client Experience Nelson Befitel - Chief Counsel Ernest Ahumada - Chief Sales Officer Ashlee Chung - Chief of Staff

$352.8 $301.2 $311.2

17.1% -3.2%

321 306

Tony Group

Stan Masamitsu - CEO Tim Dagenais - President, COO Gayle Tom - VP, CFO

$327.3 $228.0 $265.3

43.6% -14.1%

405 447

UHA Health Insurance (University Health Alliance)

Howard Lee - Pres., CEO Lance Kaneshiro - Exec. VP, COO Darren D. Nakao - Exec. VP, CFO

$325.7 $322.4 $333.5

1.0% -3.3%

163 166

31

Y. Hata & Co., Limited

Russell J. Hata - Chairman, President, & CEO Jordan Vannatta - Sr. Dir. of Branch Operations Brian Marting - CFO Bob Piccinino - Sr. Director of Supply Chain Chris Lee - Statewide Sales & Marketing Manager

$317.3 $222.3 $326.8

42.7% -32.0%

390 334

32

Albert C. Kobayashi Inc.

Michael Y. Young - President Deron Matsuoka - Vice President Brian Niitani - Vice President Alameda Joseph - Vice President Shaun Shimizu - Corp. Treasurer

$316.3 $311.4 $163.0

1.6% 91.0%

236 247

33

American Savings Bank

Ann Teranishi - President & CEO Brian Yoshii - EVP, Chief Information Officer John Ward - EVP, Chief Marketing & Product Officer Natalie Taniguchi - EVP, Enterprise Risk & Regulatory Relations Steven Nakahara - EVP, Chief Credit Officer Dane Teruya - EVP, CFO David Oyadomari - EVP, Customer Experience and Operations Beth Whitehead - EVP, Chief Administrative Officer Dani Aiu - EVP, Consumer Banking Gabe Lee - EVP, Commercial Markets

$301.9 $311.7 $320.9

-3.1% -2.9%

1,117 1,089

28 22

29 32

36 36

25 29

37

27 54

26 31

74

CHIEF EXECUTIVES

Alexander & Baldwin (NYSE: ALEX) is a premier Hawai‘i commercial real estate company with a history of serving the islands for over 150 years. A&B owns, operates and manages 3.9 million square feet of retail, industrial and office space in Hawai‘i. A&B is a real estate investment trust (REIT) and the largest owner of grocery and drug-anchored retail centers in the state. alexanderbaldwin.com Kahului Trucking & Storage Inc. McBryde Resources Inc. Grace Pacific LLC HR management. www.proservice.com

Automotive dealerships. New and preowned car sales, service, and parts. Auto body shop and car wash. www.tonygroup.com Tony Hawaii Automotive Group Ltd. Tony Honda Tony Nissan Tony Volkswagen Tony Hyundai Genesis of Waipio Tony Honda Hilo Tony Honda Kona Tony Group Collision Center Autoplex Car Wash

Health insurance, workplace wellness solutions. www.uhahealth.com

Broadline foodservice wholesale distribution, cash and carry wholesale store, public warehousing: fresh, frozen, chilled and dry food, fresh meats, fresh produce (cash and carry only), frozen seafood, paper and chemicals, restaurant supplies, pastry, bakery, and gourmet foods. www.yhata.com ChefZone General building construction. www.ack-inc.com

Banking & financial services. https://www.asbhawaii.com Hawaiian Electric Industries, Inc.

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

ALOHACARE

2022

Hawaiian healing practices shown to improve health and engage our communities. We provide hula, ‘ai pono, lomilomi, and ho‘oponopono benefits in partnership with community health centers, Native Hawaiian Health Care Systems, and cultural practitioners.

CO M M U N ITY I NVESTM E NTS AN D PARTN E RS H I PS

HAWAI ‘ I FOCUS E D H EALTH CARE

A

cultural value that makes Hawai‘i a special place to live is that we care for each other. That value is at the heart of what we do at AlohaCare. Since our beginning in 1994, the work of AlohaCare has been to take care of the health of our members by ensuring all communities have equal access to high quality care, support systems, and community resources.

Founded by Hawai‘i’s community health centers, AlohaCare is a local, non-profit, safety-net health plan focused on Medicaid and Medicare. Through meaningful collaboration, with a wide range of partners including healthcare providers, community organizations, and state and federal agencies, our health coverage goes beyond medical services.

M E M B E R- FOCUS E D I N N OVATIO N

With up to 80 percent of health influenced by social determinants of health, we support members outside of the clinical setting too.

• We helped start Unite Hawai‘i, a platform that connects members to social services in their neighborhood.

• Our education benefit The Promise of Hope is offered in partnership with the Hawai‘i State Department of Education Waipahu Community School for Adults. The benefit provides a complete program for members to achieve their high school education and has already received national recognition. Why? Because higher education is tied to better health outcomes.

• With the diverse population of our islands, culturally responsive services are another priority for AlohaCare. Our Ke Aloha Mau program offers Native

Together with our partners, we address issues that affect health, like food security and housing stability.

AlohaCare gives grants to provide free, fresh produce for children and seniors; mobile care services for houseless youth and adults and for pregnant women and new moms with their babies; public policy solutions for housing challenges; and healthcare workforce development.

We connect to communities we serve by listening and learning from their experts and employing people who live in each community we serve.

Learn more at www.AlohaCare.org.

AlohaCare 1357 Kapi‘olani Blvd., Ste G101 Honolulu, HI 96814 (808) 973-0712 Toll-free: 1-877-973-0712 TTY/TDD: 1-877447-5990 AlohaCare.org

H AWA I I B U S I N ES S

75

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

34

Hensel Phelps

Thomas J. Diersbock - VP Ron A. Mitchell - Director of Operations Michael Venezia - Chief Estimator

35

Honolulu Authority for Rapid Transportation (HART)

36

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$264.1 $423.3 $379.2

-37.6% 11.6%

214 216

Lori Kahikina, P.E. - Executive Director and CEO

$262.6 $325.1 $328.3

-19.2% -1.0%

131 237

MJC Inc. dba Cutter Automotive Galleries

Marc J. Cutter - Chairman Jarrett W Cutter - President/CEO Clarence Ng - CFO/Treasurer

$262.0 $228.0 $230.0

14.9% -0.9%

307 330

37

James Campbell Company LLC

Donald E. Huffner - President & CEO

$258.0 $255.0 $258.0

1.2% -1.2%

49 53

38

First Insurance Company of Hawaii Ltd.

Mark Yoda - Pres., CEO Todd Takayama - Sr. VP, Chief Underwriting Officer

$256.7 $238.6 $260.9

7.6% -8.5%

280 331

39

Central Pacific Financial Corp.

Paul K. Yonamine - Executive Chairman Catherine Ngo - Executive Vice Chair Arnold Martines - President and COO David S. Morimoto - Senior EVP and CFO

$254.1 $242.9 $225.9

4.6% 7.5%

755 772

40

Hawaii Dental Service (HDS)

Diane S.L. Paloma - President and CEO Minna Lehti - COO Quin Ogawa - CFO

$240.6 $219.4 $242.7

9.7% -9.6%

128 126

41

Honolulu Board of Water Supply

Ernest Y.W. Lau - Mgr., Chief Engineer Ellen E. Kitamura - Deputy Mgr., Chief Engineer

$238.0(6) $231.1 $228.7

3.0% 1.1%

551

42

Punahou School

Michael E. Latham - Pres.

Sunny Donenfeld - VP and Treasurer Gustavo Carrera - Academy Principal Todd Chow-Hoy - Junior School Principal Raquel “Kelly” Hicks - Chief Human Resources Officer Noelehua Archambault - VP, Institutional Advancement

$231.8 $113.9 $128.8

103.6% -11.6%

703 715

21 25

General contractor. www.henselphelps.com

The Honolulu Authority for Rapid Transportation (HART) is responsible for building the 20-mile, 21-station commuter rail system for the City and County of Honolulu. https://honolulutransit.org/ 35 42

30 38

33 37

32 46

38 40

34 45

62 69

76

Automotive sales and service. www.cutterauto.com Cutter Volvo Cars Honolulu Cutter Chrysler Dodge Jeep Ram of Pearl City Cutter Mazda of Honolulu Cutter Holdings LLC Cutter Volvo Cars Waipahu Cutter Chrysler Dodge Jeep Ram Fiat Cutter Buick GMC Cutter Mazda of Waipahu

Real estate investment. Leasing of land and buildings in Hawai‘i and U.S. mainland, development of the City of Kapolei. www.jamescampbell.com Aina Nui Corporation James Campbell Corporation Property and casualty insurance. www.ficoh.com Tokio Marine North America First Risk Management Services (FiRMS)

Central Pacific Bank is the primary subsidiary of Central Pacific Financial Corp., a Hawai‘i-based financial institution dedicated to making a positive difference in people’s lives – beyond banking. Central Pacific Financial Corp. stock is publicly traded on the New York Stock Exchange under the symbol CPF. https://www.cpb.bank/ Central Pacific Financial Corp.

Central Pacific Bank Dental benefits provider.

HawaiiDentalService.com Delta Dental Hawaii Client Services

Public water utility. www.boardofwatersupply.com

Primary and secondary education. www.punahou.edu

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

HAWAII STATE FEDERAL CREDIT UNION

A

t Hawaii State Federal Credit Union (Hawaii State FCU), we believe that “always right by you” isn’t just a tagline – it’s our way of life. It’s also a promise, to treat our members fairly, like family and to always consider what’s best for them in all we do.

That makes us unique.

Credit unions were originally established to provide financial services and support to communities that were unserved and underserved by traditional banks. This idea of people helping people was the foundation on which Hawaii State FCU began. Since then, it has been

our member-focused, communityminded way of doing business that has helped us grow from our humble beginnings serving Hawaii’s territorial government workers to become one of the largest credit unions in the state, with 14 branches on Oahu and Maui.

Over the years, we’ve continued to maintain our promise to members by providing innovative products and services and state-of-the-art technology for convenience and value. We also provide them with educational tools and resources to help make informed decisions and start on the path to financial wellness.

Hawaii State FCU is committed to the highest level of trust, respect, and

2022

integrity in all we do. We build relationships with our members as well as within communities where they live – because it’s through these connections that make us stronger and able to be…always right by you!

Hawaii State FCU www.HawaiiStateFCU.com

H AWA I I B U S I N ES S

77

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

43

Hawai‘i Gas

Alicia E. Moy - Pres., CEO Joanne Barradas - CFO Thomas Young - Exec. VP, Special Projects & Strategic Supply Kevin Nishimura - VP, Operations Nathan C. Nelson - VP, General Counsel, Sec. & Admin.

44

GEICO

45

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$231.3 $177.1 $237.5

30.6% -25.4%

—(7) 344

Timothy M. Dayton - GM Jeffrey Bassett - Sales Mgr.

$230.9 $217.3 $228.9

6.3% -5.1%

224 229

Industrial Logistics Properties Trust(8)

Yael Duffy - CEO Richard Siedel - CFO Jan Yokota - Regional VP, Pacific Region, The RMR Group

$219.9 $254.6 $229.2

-13.6% 11.1%

16 16

46

Hawaii Planing Mill, Ltd.

Michael Fujimoto - Executive Chairman Jason R Fujimoto - President & CEO Adam Bauer - EVP & COO

$210.0 $150.0 $125.0

40.0% 20.0%

450 398

47

Aloha Air Cargo

Kyle Nishitomi - VP & GM, Aloha Air Cargo Betsy Seaton - Pres., CEO, Saltchuk Aviation

$207.0 $119.4 $98.6

73.4% 21.1%

382 390

48

Hawaii Medical Assurance Association (HMAA)

John H. Felix - Chair William C. McCorriston - Pres., CEO

$201.0 $195.0 $216.0

3.1% -9.7%

3 3

49

Prince Resorts Hawaii

Shigeki Yamane - President Liane Sugimoto - Chief Financial Officer Craig Anderson - VP Operations Mauna Kea Resort Ryan Doi - Corporate Dir. of Information Systems Selina Eshleman - Corporate Dir. of HR

$195.0 —(9) $196.0

— —

1,357 1,291

50

Hawaii Foodservice Alliance LLC

Chad Buck - CEO/Owner

$194.0 $150.0 $125.0

29.3% 20.0%

530 395

51

Layton Construction

Will Summerhays - EVP Tyler Dillon - EVP

$191.3 $81.7 $83.2

134.2% -1.8%

72 63

44 41

39 44

31 43

47

60 80

41 47

48

48 70

74

78

A full-service gas energy company, processing and distributing gas products and providing related energy services. hawaiigas.com Macquarie Infrastructure Company LLC Insurer of automobiles, motorcycles and personal umbrella liability. Agent for sales/service of property and boat insurance. www.geico.com Berkshire Hathaway Real estate investment trust. www.ilptreit.com

HPM Building Supply is a leading building material retailer, distributor and manufacturer in Hawai‘i, with 16 facilities across all four major Hawaiian islands. A fifth-generation, local, family-run business, HPM is proud of helping Hawaii build better and live better for over a century. HPM is 100% employee-owned and serves the home improvement market and building industry statewide. hpmhawaii.com Hawaii Planing Mill, Ltd. Miyake-HPM Building Supply HPM Building Supply Air cargo services. www.AlohaAirCargo.com Saltchuk

Health insurance. www.hmaa.com

Hospitality, hotel operator. www.princeresortshawaii.com Aina Kamali‘i Corporation The Westin Hapuna Beach Resort South Kohala Wastewater Corporation Mauna Kea Beach Hotel Mauna Kea Resort Prince Waikiki Wholesale food distribution and manufacturing. www.hfahawaii.com Sun Hearth Eggs Sun Hearth Dairy Hearth & Harvest Bread Company Layton Construction is a nationally ranked commercial construction company specializing in construction management, design-build construction and general contracting. Layton has been building in Hawai‘i for 17 years, with offices on O‘ahu and Kaua‘i. As part of the STO Building Group, we bring project experience throughout the United States, Canada and Europe. www.laytonconstruction.com STO Building Group

AU G U S T 2 0 2 2

Footnotes on page 111.

SPECIAL PROMOTIONAL SECTION

SWINERTON

2022

Swinerton Hawaii Executive Team (L to R) Erika Mori, Ben Steele, Aaron Yamasaki, George Denise, Subbu Venkataraman

S HARI N G A CU LTU RE O F OWN E RS H I P

A

t Swinerton, we are all owners, but being an owner isn’t just about owning stock. Employee ownership is a mindset. And an ownership mindset is an integral part of Swinerton culture which all employees are a part of regardless of title or tenure.

“An employee ownership mindset recognizes that top managers and executives aren’t the only ones who make a difference to a business,” said Hawai‘i Vice President and Division Manager, Aaron Yamasaki. “I love the concept that every action and interaction I make has a tangible impact on the outcome of our team’s future success.”

Our culture is built from exceptional people that make up our

organization and this collaboration, camaraderie, and communication among employees and leadership continues to strengthen over time.

“Over seven years and three very different offices later, the core components that make us Swinerton are the same wherever I’ve had the pleasure to work. I believe this is the result of our shared vision and values,” said Project Executive, George Denise who moved to Hawai‘i a couple years ago. “We put each other first and strive to do the very best we can.

As an employee-owned company, our people have both a personal interest and stake in the success of every project and a sense of ownership over decisions, results, and performance. Through Swinerton’s Employee Stock Ownership Program (ESOP) all employees are able to own shares of company stock.

Other benefits include competi-

tive salary and benefit packages, gym-membership discounts, tuition breaks for employees attending school, generous 401k plans, and countless opportunities to volunteer and give back to the community.

The Employee Mentorship Program connects experienced staff with those wanting to learn more about the construction industry. And the Employee Referral Program rewards staff members who help recruit top talent.

Swinerton 841 Bishop Street, Suite 500 Honolulu, HI 96813 (808) 521-8408 swinerton.com

H AWA I I B U S I N ES S

79

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

52

Hawaii Petroleum LLC

Kimo Haynes - President Stephen Wetter - Senior VP of Operations Diane Kennedy - Controller/Treasurer

53

Aloha Auto Group Ltd. dba Aloha Kia

54

55

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$190.6 $136.4 $185.7

39.8% -26.6%

294 275

William van den Hurk - Pres., CEO Russell M. Wong - COO Alan Uyeoka - Dir. of Operations

$160.4 $99.3 $106.8

61.5% -7.0%

212 205

Kaua‘i Island Utility Cooperative

Allan Smith - Chair David J. Bissell - President & CEO Karissa Jonas - Financial VP & CFO

$158.8 $145.1 $154.9

9.4% -6.3%

145 145

Office Depot/OfficeMax Hopaco Premium Inc.

Daniel E. Zettle - Mng. Dir.

$153.6 $148.1 $182.5

3.7% -18.8%

500 490

56

Young Brothers LLC

Jeremiah “Jay” Ana - President Kris N. Nakagawa - VP, External & Legal Affairs

$153.5 $112.4 $121.1

36.6% -7.2%

397 368

57

Cutter Management Co.

Gerald H. Cutter - Chair Heather N. Cutter - President

$151.0 $135.0 $155.0

11.9% -12.9%

58

Kuakini Health System

Gary K. Kajiwara - Pres., CEO Satoru Izutsu - Board Chair

$148.8 $144.9 $169.2

2.6% -14.4%

804 832

59

Watumull Brothers Ltd.

JD Watumull - Pres.

Jojo Watumull - VP Vik Watumull - VP Jared Watumull - VP

$140.0 $119.5 $130.9

17.2% -8.7%

60 53

56 50

66 74

51 58

49 51

63 71

57

52 53

59 66

80

Wholesale and retail marketer of petroleum products and convenience stores. www.hawaiipetroleum.com Saltchuk Minit Stop Holdings LLC New KIA sales, service and parts and used vehicle sales and service on all islands. Harley Davidson, Kawasaki, KTM and Yamaha sales, service and parts on Kaua‘i and Hawai‘i Island. www.alohakia.com Kauai Motorsports Big Island Harley-Davidson Aloha Kia - (7 dealership locations) Generation, transmission and distribution of electric services to member-owners. www.kiuc.coop KIUC Renewable Solutions One LLC KIUC Renewable Solutions Two Holdings LLC KIUC Renewable Solutions Two LLC

Retail and wholesale office supply, industrial paper and disposable food service products, cleaning chemicals and supplies, office furniture, logo products and services, restaurant and janitorial supply, computer technology products, managed print and document services. www.officedepot.com Office Depot Inc. OfficeMax Hopaco Premium Inc. Interisland freight transportation. www.youngbrothershawaii.com Saltchuk Foss Maritime Company New and used automobiles: wholesale, retail sales and leasing, parts, division and distribution, and vehicle maintenance.

Cutter Ford Inc. (dba Cutter Ford/Isuzu) Cutter Development Co. Cutter Chevrolet Inc. Cutter Adminstrative Group Hillis Motors Health care. www.kuakini.org Kuakini Support Services Inc. Kuakini Foundation Kuakini Medical Center Kuakini Geriatric Care Inc.

Ready-to-wear apparel, gift shops, non-residential building investments, wholesale distribution of T-shirts and Hawaiian gift items.

Watumull Properties Corp.

Happy Shirts Inc. New American T-Shirt Co.

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

60

Royal Contracting Co. Ltd.

Leonard K.P. Leong - Pres.

61

Island Insurance Companies, Ltd.

62

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$136.3 $130.8 $96.9

4.3% 35.0%

195 190

Tyler M. Tokioka - Chairman of the Board Beverly C Ament - President Scott A Kuioka - Sr. VP, COO

$134.7 $129.9 $130.1

3.7% -0.2%

143 152

David S. De Luz Sr. Enterprises Inc.

Jacqueline De Luz Watanabe - President and Sec. Francis Tsunezumi - Controller, Treas.

$132.3 $154.1 $133.7

-14.2% 15.3%

132 125

63

Swinerton

General Contractor www.swinerton.com Swinerton

Ben Steele - Project Exec. - Self-Perform Subbu Venkataraman - Project Exec. - Building Group George Edward Denise - Project Exec. - Special Projects Aaron J Yamasaki - VP, Division Mgr. Erika Mori - Director of Preconstruction & Estimating

$128.8 $143.0 $158.8

-9.9% -10.0%

84 70

64

Hawaiian Cement

Terilyn Kiyoko Takahashi Esperanza - Controller Jason Macy - Pres.

$126.0 $146.9 $151.7

-14.2% -3.2%

217 222

65

Maui Varieties Ltd. / HouseMart Stores

Wayne K. Kamitaki - CEO Paul K. Mizoguchi - VP, Sec. Guy Kamitaki - Treas.

Lynn Ushijima - Assistant Sec.

$125.3 $125.7 $106.0

-0.3% 18.6%

387 327

66

Pharmacare Hawaii Inc.

Byron N. Yoshino - Pres., CEO Richard H. Sakurada - Exec. VP

$124.7 $108.6 $98.3

14.8% 10.5%

135 169

67

Humana

Justin Y. Puckett - Hawai’i Market Leader

$123.0(10) – $117.0(10)

68

Jones Hawaii Acquisition Co. LLC

Fletcher Jones Jr. - Owner Fletcher Jones III - COO Dennis Rademacher - General Manager

$119.3 $108.2 $158.5

10.3% -31.7%

–(11) 128

82

57 67

46 63

53 55

50 60

58 75

64 81

72

65 56

General contractor. www.royalcontracting.com

Property and casualty insurance, surety bonds. www.islandinsurance.com Island Holdings, Inc. NMF Insurance, Inc. dba IC International Island Insurance Company, Ltd. Island Premier Insurance Company, Ltd. Tradewind Insurance Company, Ltd. Automobile dealership, parts and service, vehicle sales, real estate, cattle ranching and processing plant. www.bigislandtoyota.com, www.deluz-chevrolet.com Kukaiau Ranch LLC De Luz Chevrolet Big Island Toyota Inc.

Cement importing for resale, production and sales of readymix concrete and construction aggregates. www.hawaiiancement.com Knife River Corp.

Retail hardware and crafts stores, imports, exports and real estate investments. www.hmstores.com Deans Inc. Seattle Ace LLC (5 stores) Las Vegas Ace LLC (2 stores) ACE Hardware Hawaii Inc. (14 stores) Maui Varieties Investments Inc. 3Katto LLC (4 Daiso Hawaii stores) BFS Inc. (6 Ben Franklin Crafts) Local pharmacy specializing in specialty pharmacy, infusion therapies, long-term care pharmacy, enteral nutrition, and vaccination services. www.pharmacarehawaii.com Value Drug Ltd. Synergy MedSolutions LLC Pharmacy Partners LLC dba Pharmacare LTC Pharmacare International Inc. Health insurance. www.humana.com

Automobile dealership. www.mercedesbenzofhonolulu.com Mercedes-Benz of Honolulu Mercedes-Benz of Maui

Footnotes on page 111.

H AWA I I B U S I N ES S

81

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

69

Catholic Charities Hawai‘i

70

71

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Robert Van Tassell - Pres., CEO

$118.6 $31.0 $28.3

282.3% 9.6%

253 245

Gentry Homes Ltd.

Quentin Machida - President/CEO Norman Gentry - Partner/Co-owner

$117.5 $95.1 $108.8

23.5% -12.6%

49 49

Allstate Insurance Co.

Tom Wilson - CEO Mario Rizzo - CFO

$115.3(10) — $101.6(10)

72

Wasa Electrical Services Inc.

Ronald K.B. Yee - Pres., CEO, COO Bruce Kugiya - Exec. VP Erwin Viloria Mateo - Senior VP

$111.0 $96.0 $90.0

15.6% 6.7%

325 286

73

I. Kitagawa and Co. Ltd.

Nan I. Kitagawa - Pres.

$110.1 $86.9 $90.2

26.7% -3.7%

202 199

74

Kawailoa Development LLP

Hiroki Matsuda - Director Toshiaki Shindo - Director

$104.5 $36.6 $133.1

185.5% -72.5%

898 769

75

Coastal Construction Co. Inc.

Kenneth M. Sakurai - Pres., Sec. Les Masutani - VP

$101.2 $60.7 $60.0

66.8% 1.1%

300 270

76

Hawai‘i Community Foundation

Micah A. Kāne - CEO & President Michelle Ka‘uhane - Sr. VP & Chief Impact Officer Wallace Chin - Sr. VP & Chief Administrative Officer Kawena Beaupre - Sr. VP & General Counsel Sheila Sarhangi - VP of Strategic Communications Darcie Yukimura - VP of Philanthropy Todd Apo - VP of Community Partnerships & Public Affairs Larissa Kick - VP of Community Grants & Initiatives Jamee Kunichika - VP & Chief of Staff Lynn Shimono - VP of Finance

$100.7 $142.8 $78.6

-29.5% 81.7%

68 63

77

Na Hoku, Hawaii’s Finest Jewelers Since 1924

Edward D. Sultan - Chair, CEO Steven J. Bookatz - Pres., COO Linda L. Flanagan - VP, CFO

$93.0 $40.0 $100.0

132.5% -60.0%

368 194

Morgan Stanley Wealth Management

Clyde Matsusaka - Executive Director/Honolulu SubComplex Manager

$92.3 $81.1 $75.4

13.8% 7.6%

133 130

141 169

69 73

77

68 86

72 85

64

96 118

54 99

126 78

78 95

82

Nonprofit - social services. www.catholiccharitieshawaii.org Catholic Charities Housing Development Corp.

Real estate development. www.gentryhawaii.com Gentry Kalaeloa LLC Gentry Investment Properties Gentry Kapolei Development LLC Gentry Maui Development LLC Gentry KGC LLC Gentry Builders LLC Insurance including property, casualty, life, commercial, group and individual, life and health products, retirement and investment products. www.allstate.com Electrical work. www.wasahawaii.com US Kinden Corp.

Retail automotive dealerships, auto parts stores. https://ikandco.com/ Kama‘aina Nissan Inc. Kama‘aina Motors Kona Auto Center Inc. Parts Center Hawaii Inc. Resort and golf course. www.poipubaygolf.com, www.grandhyattkauai.com Poipu Bay Golf Course Grand Hyatt Kauai Resort & Spa General building contractor. www.coasthi.com

Nonprofit community foundation. www.hawaiicommunityfoundation.org

Fine jewelry designer, manufacturer and retailer. www.nahoku.com Pearl Factory - Hawaii’s Original Pearl-in-the-Oyster

Investment services, comprehensive wealth planning and management. www.morganstanleybranch.com/honolulu.hi

AU G U S T 2 0 2 2

Footnotes on page 111.

Offer the Best

In this competitive market, prospective employees are looking for rewarding jobs with rich benefits. To attract and keep valued employees, offer a health plan from HMSA. With HMSA, they’ll get: • Their choice of doctors from one of the largest provider networks in Hawaii and nationwide.

• Access to the best hospitals and care.

• Programs to support their health and well-being at no extra cost.

• Coverage when traveling worldwide.

hmsa.com

Your employees deserve the best. To learn more about HMSA health plans, call us at (808) 948-5555, option 2, or 1 (800) 620-4672, option 2.

1010-590107

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

79

Hawai‘i Life Real Estate Services LLC

80

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Matthew G. Beall - CEO, Principal Broker

$90.9 $51.7 $44.5

75.9% 16.2%

42 40

Hawai‘i Pacific University

John Y. Gotanda - Pres.

Jan Boivin - Sr. VP, General Counsel, Board Sec. David M. Kostecki - Sr. VP, CFO

$90.3 $77.9 $76.0

15.9% 2.5%

434 419

81

C. S. Wo & Sons, LLC

Michael Wo - President Kristen Wo - Vice President Damian Pherigo - Vice President

$90.0 $61.2 $79.0

47.1% -22.5%

214 180

82

Stoebner Holdings Inc.

Morris Stoebner - CEO, Dir. Michael Stoebner - Pres., Treas.

Sandra D. Kalahiki - VP, Controller

$86.2 $67.4 $85.9

27.9% -21.6%

117 103

83

Bacon-Universal Co. Inc.

Phillip J. Silich - Chairman/Exec. Dir. Adrian Silich - President & CEO Michael Souza - Equipment Mgr. Veronica Leong - Accounting Mgr. Jeorge Vila - Island Wide Sales Mgr.

$85.6 $76.8 $72.1

11.5% 6.4%

109 114

84

DB Insurance Co. Ltd.

Jeong-Nam Kim - Pres., CEO

102

Insurance company. www.dbinsus.com

$83.7(10) — $76.3(10)

85

City Mill Company Ltd.

Steven C. Ai - Pres., CEO Kevin Nishida - CFO Shari Komo-Matsueda - COO Carol Ai May - VP, Secretary

$82.4 $86.6 $72.8

-4.9% 18.9%

210 265

86

New York Life Insurance Co.

Sayaka Ogura Glaser - Sr. Partner Erika Sabraw - Partner Mike Takazono - Partner David Glaser - Director of Development

$82.0 $67.7 $70.5

21.2% -4.0%

89 —(11)

87

VIP Foodservice

Nelson Okumura - Pres.

Alton A. Nakagawa - VP Finance Brian Tokeshi - VP Operations Lori Jio - Sec. Roger Tacdol - Treas., Controller

$81.8 $72.1 $103.6

13.5% -30.4%

155 161

88

HawaiiUSA Federal Credit Union

Greg Young - Pres., CEO

$81.4 $80.7 $88.5

0.9% -8.9%

389 381

107

79 103

93 98

87 91

81 105

73 104

86 109

83 76

77 89

84

Real estate sales, long term and vacation rentals. www.hawaiilife.com Mauna Kea Realty

Independent, not-for-profit post-secondary institution. www.hpu.edu Oceanic Institute (research affiliate)

Retailer of home furnishings. www.cswo.com R.C. Wo & Sons Ltd. HomeWorld (dba) Red Knot (dba) C. S. Wo (dba) Ashley Homestores (dba) SlumberWorld (dba) Retail and wholesale automobile sales, parts and service, body shop and car wash. www.hondawindward.com Honda Windward (dba) Honda Windward Auto Body Windward Auto Spa Construction, agriculture & industrial equipment sales and rentals distributor, related repairs, parts and services. www.baconuniversal.com Yoshire International Ltd. LBR Solar LLC

Retail home-improvement center, storage, organization stores and real estate. www.citymill.com Simply Home Rainbow State Paint Simply Garden Simply Organized LLC Insurance & financial services. www.hawaii.nyloffices.com Mainstay Mutual Funds New York Life & Annuity Corp.

Wholesale meat, seafood, poultry, eggs, frozen foods, groceries, produce, paper products, cleaning supplies and retail grocery stores. www.vipfoodservice.com Valley Isle Produce, Inc. Island Grocery Depot Credit union that provides financial products, services, and money management education for individuals and businesses. www.hawaiiusafcu.com

AU G U S T 2 0 2 2

Footnotes on page 111.

UNWAVERING COMMITMENT. They say the only constant is change.

But whether your life-changing events are

carefully planned or completely unexpected, it pays to have a trusted partner by your side, committed to helping you through life’s ups and downs.

For over 80 years, Island Insurance has taken care of Hawaii businesses of all sizes and

individuals like Marcus Mariota, and is proud

to be one of the nation’s longstanding Top 50 property and casualty insurers.

Local experts protecting local people.

That’s the Island way.

Marcus Mariota Island Insurance customer

Auto | Home | Business

•

Contact Your Independent Agent

•

(808) 643-4000

•

islandinsurance.com

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

89

Coldwell Banker Realty

90

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

Mike James - Pres. | Hawai‘i

$80.9 $57.2 $53.0

41.4% 8.0%

Pflueger Inc.

Alan Pflueger - Pres.

$79.7 $61.7 $79.0

29.1% -21.9%

99 100

91

JBG Corporation

Matt Guard - Pres.

Camy Chin-Meun - VP Kevin Cutter - VP Operations Kim Hudson Chock - CFO

$79.2 $78.0 $88.8

1.6% -12.3%

328 334

92

Pacific Guardian Life Insurance Company Ltd.

Margolee P. Lee - Pres. and CEO Alan M. Goda - Chair, General Counsel Nobutaka Yagi - Vice Chairman of the Board

$78.8 $71.2 $84.0

10.7% -15.2%

98 127

93

AECOM

Martin A. Nakasone - VP, Area Manager

$77.3 $77.2 $78.0

0.1% -1.0%

210 214

94

HEMIC

HEMIC is Hawai‘i’s leading provider of workers’ compensation, committed to providing the most effective insurance solutions for our customers. Through our family of companies, which includes EPIC and HIMI, we can bundle insurance products tailored specifically for businesses. www.hemic.com Employers’ Protective Insurance Co. HEMIC Insurance Managers Inc. (HIMI)

Martin J. Welch - CEO Jason T. Yoshimi - Pres., CFO Tammy Teixeira - Senior VP, Business Development Regina Harris - VP, Underwriting, Premium Audit, Safety & Risk Management Milia Leong - VP, Claim & Medical Management Services Faye Bueno - VP, Administration Paul Naso - General Counsel

$77.1 $62.3 $69.7

23.7% -10.6%

113 109

95

Hawaii State Federal Credit Union

Andrew S. Rosen - Pres., CEO

$76.9 $88.7 $86.9

-13.3% 2.1%

379 367

96

Bowers + Kubota Consulting Inc.

Brian Bowers - Pres.

Dexter Kubota - VP Aaron Akau - Principal Myong Choi - Principal Eric Iwamoto - Principal MIke Kamaka - Principal

$73.8 $65.6 $50.2

12.5% 30.5%

282 280

97

Windward Auto Sales Inc.

Jerry V. Romano - Pres., GM C. Wayne Davis - Business Mgr.

$72.8 $50.8 $53.6

43.2% -5.2%

97 84

98

Securitas Security Services USA Inc.

Sanj Sappal - Area VP - Hawai‘i/Guam Gene Stoudt - Business Development Mgr.

$72.5 $96.4 $96.3

-24.8% 0.1%

1,100 2,261

100

92 97

78 88

84 93

80 100

90 111

71 90

88 130

108 124

67 83

86

Real estate. www.coldwellbankerhomes.com Realogy Brokerage Group LLC

New and used Honda automobile sales, leasing, parts and service. www.PacHonda.com Pacific Honda (dba) Marine cargo handling. www.mhrhawaii.com Shoreside Maritime Services LLC McCabe, Hamilton & Renny Co. Ltd.

Life, group and TDI insurance, employee benefit plans. www.pacificguardian.com Meiji Yasuda Life Insurance Company

Architecture, engineering, design, project and program management, planning, and environmental services. aecom.com

Credit union. www.hawaiistatefcu.com

Engineering and architecture. www.bowersandkubota.com

New & used car and truck sales. Parts and service. www.jerryforthepeople.com Windward Hyundai (dba) Windward Dodge Chrysler Jeep Ram (dba) Security guard services, mobile patrols, alarm response and remote video monitoring. www.securitasinc.com Securitas AB

AU G U S T 2 0 2 2

‘21 ‘20

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

99

University of Hawai‘i Foundation

100

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Tim Dolan - UH VP of Advancement and UH Foundation CEO John Han - VP for Administration & CFO

$70.8 $63.5 $71.6

11.5% -11.3%

90 79

New City Nissan - Rosebridge LLC

Wesley Fujimoto - Sec.

$68.9 $52.8 $71.8

30.4% -26.5%

85 76

101

Ralph S. Inouye Co. Ltd.

Lance M. Inouye - Pres., CEO

$68.1 $62.3 $56.2

9.3% 11.0%

63 63

102

Group Builders Inc.

Anacleto R. Alcantra - Pres.

Amado Sanchez - Exec. VP

$67.3 $80.7 $66.0

-16.6% 22.4%

150 347

103

Territorial Savings Bank

Allan S. Kitagawa - Chair, Pres., CEO Vernon H. Hirata - Vice Chair, Co-COO Ralph Y. Nakatsuka - Vice Chair, Co-COO

$65.0(12) $76.6 $83.4

-15.1% -8.2%

— 265

104

‘Iolani School

Timothy R. Cottrell - Head of School Reid A. Gushiken - CFO

$64.2 $61.2 $56.9

4.8% 7.6%

412 383

105

The Elite Companies

Paul Mayer - Chairman Matt Gage - Chief Financial Officer Chuck Garrett - Sr VP Brokerage and Principal Broker Stephen Cipres - Co-Founder & Sr Advisor

$63.9 $47.2 $46.0

35.3% 2.6%

55 46

106

Corcoran Pacific Properties

Anton Steenman - President, CEO Chuck Garrett - SVP, Principal Broker

$63.8 $39.9 $37.2

59.8% 7.2%

44 40

107

HawkTree International Inc.

Donald M. Takaki - Chair Ryan Z. Takaki - Vice Chair Donn M. Takaki - Pres., CEO

$61.0 $52.0 $63.0

17.3% -17.5%

489 426

89 108

103 107

91 122

76 114

82 94

94 121

105

The nonprofit UH Foundation is contracted by the University of Hawai‘i to be the sole provider of alumni services and fundraising for UH. Funds raised are critical for supporting the educational mission of UH, one of the largest drivers of Hawai‘i’s economy. This private support funds scholarships to build Hawai‘i’s future workforce, attracts top faculty talent and fuels world-class research. www.uhfoundation.org Retail new and used automobiles, sales and service. www.newcitynissan.com

General contracting, building and engineering. www.rsinouye.com

Specialty contractor for drywall, carpentry/millwork, cabinetry, plastering, acoustical and insulation, fireproofing, exterior insulation finish system. www.groupbuilders.net Banking. www.territorialsavings.net Territorial Bancorp Inc. Territorial Financial Services Inc. Territorial Real Estate Co. Inc.

‘Iolani School is a coeducational, college-preparatory school for students in grades K-12. Its mission is to develop liberally educated, well-rounded individuals who are well prepared for higher education and for responsible, moral citizenship. ‘Iolani School fosters academic excellence and personal growth in an environment that is challenging and competitive, yet compassionate and nurturing. www.iolani.org Residential and commercial real estate brokerage services and property management services for long-term rental and vacation rental properties. www.corcoranpacific.com Hawaii Commercial Real Estate Elite Pacific Vacations Corcoran Pacific Properties Residential real estate. corcoranpacific.com Corcoran Pacific Properties

Logistical services: moving, storage, trucking, courier and conventions. www.hawktree.net International Convention Services Island Movers (dba) Aloha Int’l Moving Services HawkTree Land Pacific Courier Pro-File Record Systems Aloha Isle Moving Inc.

Footnotes on page 111.

H AWA I I B U S I N ES S

87

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

108

RAM Corporation

109

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Gary E. Oda - Pres.

Justin Izumi - VP

$60.4 $81.3 $87.9

-25.6% -7.5%

63 80

Isemoto Contracting Co. Ltd.

Leslie K. Isemoto - Pres.

Larry S. Isemoto - Chair

$60.3 $52.8 $63.8

14.2% -17.2%

131 138

110

Suisan Group Inc.

Stephen N. Ueda - Chair, Pres., CEO

$60.0 $68.6 $79.4

-12.5% -13.6%

123 126

111

Hardware Hawaii

David R. Lundquist - Pres., CEO Byron L. Ige - VP Dora Myhre - Dir. of Retail Operations Harold S. Levy - Dir. of Lumber Operations David Purington - Dir. of Merchandising

$59.7 $58.6 $51.5

1.9% 13.8%

175 175

112

Zephyr Insurance Co. Inc.

Timothy E. Johns - Pres., CEO

$59.6 $54.3 $53.3

9.7% 1.9%

18 16

113

Hawaii Foodbank Inc.

Amy Marvin - President and CEO Gene Caliwag - VP of Operations Laura Kay Rand - VP and Chief Impact Officer

$58.1 $49.6 $32.1

17.3% 54.4%

65 62

114

Locations(13)

John Chandler - Sr. VP - Technology & Innovation Arnold Ku - Controller

$58.0 $42.1 $53.0

37.8% -20.6%

120 124

115

REHAB Hospital of the Pacific

Stephanie Nadolny - Pres., CEO Wendy Manuel - VP, COO, CFO Shari Ann Oshiro - VP, Chief Medical Officer Lori Yoshioka - VP, Chief HR Officer Glenn Requierme - CIO Lori Suan - Chief Development Officer

$57.8 $48.4 $54.6

19.4% -11.4%

309 309

116

Shioi Construction Inc.

Roy Y. Shioi - Pres.

Preston Lingaton - Vice President Conrad H. Murashige - Chair Diana Jenkins - Treas.

$57.6 $47.9 $59.3

20.3% -19.2%

229 233

117

Alaka‘i Mechanical Corp.

Koji Sakate - Chairman Ralph T. Inouye - CEO Ryan Ando - President Dayne Matsumoto - VP Joe Barrios - Exec VP Hideo Mizutani - Sec/Treas

$57.0 $60.1 $59.2

-5.3% 1.6%

225 235

75 87

104 116

85 96

99 129

101 125

109 160

122 126

111 123

113 119

97 120

88

General contractor for commercial buildings and renovation projects. www.abshawaii.com Allied Builders System (dba) General contractor: woodframe, concrete, masonry structures, heavy site excavation, road and highway construction, water, sewer and drainage construction, golf courses. Government and commercial buildings.

Wholesale frozen foods, dry groceries, non-food disposables, wholesale and retail fresh fish. www.suisan.com Suisan Company Ltd. Suisan Properties Ltd. Retail & wholesale hardware stores, home centers and lumber yards. www.hardwarehawaii.com HH Holdings Inc. Hardware Hawaii Kailua, Kaneohe, Kapolei, Kauai and Mapunpuna are each an LLC Residential hurricane and homeowners insurance. www.zephyrinsurance.com HI Holdings Inc.

Nonprofit organization providing food to 1 in 6 residents, including more than 81,000 of Hawai‘i’s keiki, who are now among the hardest hit population in the entire country. www.hawaiifoodbank.org Real estate sales and services. www.locationshawaii.com Premier Title & Escrow Compass Home Loans Hawaii Comprehensive inpatient and outpatient physical and medical rehabilitation services. www.rehabhospital.org REHAB at Nuuanu REHAB at Aiea REHAB at Hilo Rehabilitation Hospital of the Pacific Rehabilitation Hospital of the Pacific Foundation KJ & Beatrice Luke Specialty Clinic at Nuuanu REHAB’s Physicians Clinic dba Creative Partition Systems General contractor. www.shioihawaii.com Creative Partition Systems Specialty contractor. www.alakaimechanical.com Taisei Oncho Co. Ltd.

AU G U S T 2 0 2 2

Footnotes on page 111.

A Best Place to Work Since 2014

Microsoft Teams is more than call and chat.

It’s a comprehensive collaboration platform that connects teams from anywhere. pacxa.com/teams

Access shared files and apps in real-time Consolidate disparate tools all in one place Work confidently with enterprise-grade security

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

118

Chaminade University of Honolulu

119

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Lynn Babington - Pres.

$56.4 $49.1 $49.4

14.8% -0.6%

263 261

Hale Koa Hotel

Hupp Kelley - Assistant General Manager Craig Kurosu - Comptroller Edward Fagan - General Manager

$54.3 $78.9 $85.6

-31.2% -7.8%

387 412

120

Kāhala Nui

Craig R. Courts - President & CEO Maria Kinsler - Chief Operating Officer

$52.3 $44.9 $47.4

16.4% -5.2%

249 206

121

Lili‘uokalani Trust

Dawn Harflinger - Pres. and CEO Alan Arakawa - VP, Real Estate Mercedes Lanza - Vice President and CAO Juli Torigoe - Vice President and CFO

$52.0 $60.8 $394.2

-14.5% -84.6%

158 153

122

DTRIC Insurance Company, Ltd.

Takuya K. Mitsueda - Pres., CEO Ann Nakagawa - EVP & Chief Administrative and Financial Officer Dennis Rae - EVP & Chief Underwriting Officer

$51.4 $56.1 $66.5

-8.4% -15.6%

96 93

123

Kualoa Ranch Hawaii Inc.

John Morgan - Pres., CEO

$50.5 $17.7 $61.4

185.6% -71.2%

270 342

124

RevoluSun Smart Home / RevoluSun LLC(15)

Joshua F. Powell - CEO, RME Eric Carlson - Chief Innovation Officer Colin Yost - Chief Operating Officer

$48.5 $46.5 $76.5

4.3% -39.2%

145 143

125

Maui Medical Group Inc.

Marc Rosenthal - President Clifford Alakai - Administrator Sarah Ford - Controller

$47.9 $45.4 $46.3

5.6% -2.0%

336 313

126

Mid-Pacific Institute

Paul A. Turnbull - Pres., CEO Lesley Kaneshiro - COO Leigh Fitzgerald - VP of Academic Affairs Shannon Cleary - VP of Institutional Advancement Edna L. Hussey - Preschool, Elementary Principal Dwayne “Dee” Priester - Middle and High School Principal

$45.5 $44.8 $44.3

1.6% 1.1%

234 259

127

Merrill Lynch

Jesse Sheley - Mng. Dir., Market Exec.

$45.0 $42.0 $52.8

7.1% -20.5%

95 95

110 132

116 136

95 28

113

170

114 101

115 137

117 142

123 127

90

Non-profit post-secondary education. chaminade.edu

Armed forces recreation center-hotel dedicated to all U.S. active military, retired military, and Dept. of Defense personnel and their families. www.halekoa.com US Army Installation Management Command(14) Life plan community. kahalanui.com Kāhala Nui Senior Living Community Inc. Hiolani Care Center Kāhala Nui Live Well At Iwilei by Kāhala Nui Statewide private foundation providing social services and youth development programs for Hawaiian children. www.onipaa.org

DTRIC Insurance Company, Limited offers personal lines of insurance, including auto, homeowners, renters, and umbrella. It also provides a wide range of commercial lines of insurance products, including general liability, property, and workers’ compensation. www.dtric.com Aioi Nissay Dowa Insurance Co. Ltd., a member of MS & AD Insurance Holdings, Inc. DTRIC Insurance Underwriters, Limited Visitor attraction and recreational activities, cattle ranching, diversified agriculture and real estate. www.kualoa.com

Design and installation of residential and commercial scale solar energy, energy storage and smart home energy efficiency products. www.revolusun.com Health care service. www.mauimedical.com

Pre-K to 12 independent school. www.midpac.edu

Wealth management for individuals, businesses, foundations and endowments. Retirement plans and institutional consulting. Banking. www.ml.com Bank of America

AU G U S T 2 0 2 2

Footnotes on page 111.

WE ARE ALOHA COMMITTED TO KEEPING THE HAWAIIAN ISLANDS CONNECTED AND SAFE

888-94-ALOHA (25642) // alohaaircargo.com Call now for shipping services throughout the islands of Hawaii, to and from Las Vegas, Los Angeles, and now to Seattle.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

128

Na Ali‘i Consulting & Sales LLC

129

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Cariann Ah Loo - Pres.

Jason Greenawalt - Exec. VP Wain Iwaki - VP Base Operations

$44.5 $59.5 $67.0

-25.2% -11.3%

275 330

St. Francis Healthcare System of Hawaii

Jerry Correa - CEO Sister Davilyn Ah Chick - Chair

$44.1 $43.0 $48.1

2.6% -10.6%

225 280

130

Heide & Cook LLC

Todd Y. Williams - Pres.

Ann Takamori - VP, Admin., Controller Pono Paahao - VP, Service Kerry Borthwick - General Manager, Elevator Jonanthan Muratuska - Manager, Construction Estimating Bryce Kawamura - Construction Operations Manager

$43.5 $43.1 $50.0

0.9% -13.8%

145 141

131

Sutter Health Pacific Kahi Mohala

Mark Linscott - Interim Administrator Quin H. Ogawa - Chief Financial Officer

$40.5 $41.1 $43.4

-1.7% -5.1%

189 201

132

Aloha Pacific Federal Credit Union

Vince J. Otsuka - Pres., CEO Gary Iwai - Board Chair

$39.9 $41.9 $39.0

-4.9% 7.6%

186 180

133

The Salvation Army Hawaiian & Pacific Islands

$39.1 $40.8 $47.5

-4.1% -14.0%

354 481

98

121 134

120 131

125 140

124 144

135

Government contractor. Na Ali‘i Consulting & Sales, LLC is a Native Hawaiian Organization (NHO) owned 8(a) small business that delivers innovative management and technology solutions to our customers. Our diverse team of employees is passionate about finding innovative solutions for our clients, and we have extensive experience modernizing and automating IT solutions for federal agencies. www.nakupuna.com Hospice, skilled nursing, adult residential care, senior affordable housing, caregiving, care coordination, private duty care, companion care, adult day care, personal care, pre-school, senior wellness and senior fitness. www.stfrancishawaii.org Hale O Meleana Adult Residential Care HVAC, elevators, plumbing, refrigeration, sheet metal fabrication and installation, construction, portable AC rentals, clean air technologies. www.heidecook.com Chugach Commercial Holdings Heide & Cook Real Estate, LLC Psychiatric hospital. www.sutterhealth.org/kahi Sutter Health

Credit union. www.alohapacific.com CUSO of Hawaii Properties LLC dba Aloha Pacific Premier Realty CUSO of Aloha Pacific Financial Group CUSO of Hawaii Services LLC

Social services nonprofit. The Salvation Army Kroc Community Center focuses on the arts, recreation and education. hawaii.salvationarmy.org

134

The Polynesian Cultural Center

Cultural and educational attraction providing support for university students from throughout Hawai‘i and the Pacific. www.polynesia.com The Church of Jesus Christ of Latter-Day Saints Polynesian Cultural Center Properties Inc.

P. Alfred Grace - Pres., CEO Jarod Hester - CFO, COO, Exec. VP Eric E. Workman - CMO, Exec. VP Delsa Moe - VP Cultural Presentations Tai Vuniwai - VP HR Greg Maples - VP Culinary Services

$39.0 $17.7 $69.0

120.3% -74.3%

536 —(11)

135

Hilo-Kona Mazda Subaru Hyundai

Wayne K. DeLuz - Pres.

$38.8 $34.8 $32.6

11.4% 6.8%

--(16) 54

136

Farmers Group, Inc.

Giles Harrison - CFO

$38.6 $39.6 $44.3

-2.7% -10.6%

64 67

169 112

134 159

127 138

92

New and used car dealership. www.bigislandmotors.com

Property and casualty-insurance products. www.farmershawaii.com Hawaii Insurance Consultants, Ltd. 21st Century Centennial Insurance

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

137

WestPac Wealth Partners Hawaii

138

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Marko Mijuskovic, MBA, MSIS, CExP™ - Sr. Partner Liang Lee - Sr. Partner Spencer Dung, CFP®, ChFC® - Managing Director

$37.8 $29.9 $27.2

26.6% 9.7%

223 216

Pacxa

Kelly J. Ueoka - President Geary Chun - Executive Vice President Scott Watanabe - Executive Vice President

$36.9 $37.0 $32.6

-0.4% 13.5%

80 71

139

Goodwill Hawaii

Katy Y. Chen - President, CEO Brent H. Arakaki - CFO

$35.1 $31.1 $32.6

12.8% -4.7%

448 470

140

Child & Family Service

Karen Tan - President & CEO Anne Marie Rizzo - Chief Advancement Officer Amanda Pump - Chief Program Officer

$34.2 $30.6 $30.4

12.0% 0.4%

250 281

141

Crum & Forster

Lloyd F. Chaffin - Exec. VP

$34.0 $34.0 $34.6

0.0% -1.7%

55 57

142

Sen Plex Corp.

Brian Sen - Pres.

Nancy Sato - VP Jack Cai - VP Ramon Bonoan - VP

$33.8 $34.2 $33.1

-1.3% 3.5%

130

143

Paradigm Construction LLC

Alex M. Kwon - Pres.

$33.0 $35.8 $31.0

-7.7% 15.4%

50 55

144

Pleasant Holidays LLC

128

Tour operator, travel services and Hawai‘i destination activities. www.pleasantholidays.com

Jack E. Richards - Pres., CEO Dal DeWolf - Sr. VP, CFO Beth Nickerson - VP Product Development & Partner Relations Amy Terada - VP Marketing Mark A. Klaschka - VP, Mng. Dir. Hawaii

$32.9 $6.6 $52.8

398.5% -87.5%

72 23

145

G70

Norman G.Y. Hong - Chairman Sheryl B. Seaman - Vice Chair Linda C. Miki - Principal and CEO Charles Y. Kaneshiro - President and COO

$32.8 $34.2 $34.8

-4.2% -1.7%

101 108

146

S & M Sakamoto, Inc.

Dale Sakamoto Yoneda - Pres.

Gerard Sakamoto - Chairman

$32.5 $21.0 $22.4

54.9% -6.3%

42 46

147

Cyanotech Corporation

Matthew K. Custer - President and CEO

$32.3(17) $31.5 $29.3(18)

2.5% 7.6%

93

131 158

140 157

142 163

138 153

136 161

133 162

137 151

165 184

139 164

WestPac® Wealth Partners is a privately held wealth management firm that assists clients in every aspect of their financial lives. We focus on process, not products, enhancing clients’ goals as we work to help them protect what they have built so they can invest in their future to achieve their ultimate goals. https://www.westpacwealth.com/ Consulting services, cloud services, managed services, value-added resale. www.pacxa.com Island Holdings, Inc. Nonprofit human service agency. www.higoodwill.org

Human services counseling. www.childandfamilyservice.org CFS Real Property Inc.

Property and casualty insurance. www.cfins.com The North River Insurance Company United States Fire Insurance Company Mechanical contracting, air-conditioning maintenance and plumbing service. www.senplex.com Oahu Plumbing & Sheet Metal Ltd. Oahu Air Conditioning Service Inc. General contractor, heavy civil & bldg. construction. www.paradigmhi.com

Architecture, planning and environmental services, interior design, civil engineering, sustainable development and technology services. www.g70.design General contractor. www.smsihawaii.com S Group Inc.

Producer of dietary supplements and natural products derived from microalgae. www.cyanotech.com Nutrex Hawaii, Inc

Footnotes on page 111.

H AWA I I B U S I N ES S

93

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

148

Alan Shintani, Inc.

General contracting. Historical, federal, residential. www.alan-shintani.com

149

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Alan I. Shintani - Chairman of the Board Robert de los Reyes - Vice President Fred Kim - President Jason Tang - Controller

$32.3 $34.3 $25.9

-5.6% 32.0%

61 57

Honolulu Builders LLC

Dan Jordan - Principal Tom Ryan - Principal

$31.5 $38.4 $42.4

-18.1% -9.3%

20 40

150

Aloha United Way

John Lee Fink - Pres., CEO Suzanne Skjold - COO Earl Fusato - CFO Kimo Carvahlo - VP of Community Impact Emmaly Calibraro - VP of Fundraising & Major Gifts

$29.5(19) $44.2 $18.0

-33.3% 146.0%

44 48

151

Aqua Engineers, Inc.

David T. Paul - President/CEO John K. Newton - CFO Valerie A. Matias - Director of HR Scott Bly - VP, Director of Army Services Clifford P. Lum - Director Engineering & Construction Services Steven Asselin - Director of Operations

$29.1 $29.0 $26.0

0.5% 11.5%

88 89

152

Atlas Insurance Agency

Chason Ishii - Pres.

Carol Davis - Exec. VP of Sales & Retention Tricia Miyashiro - Exec. VP of Operations

$28.0 $26.3 $26.8

6.6% -2.1%

95 103

153

Better Homes and Gardens Real Estate Advantage Realty

Myron N. Kiriu - CEO, Owner, Realtor Karin Moody - Principal Broker, Owner Leslie-Ann Yokouchi - Principal Broker, Owner Ambur Kiriu - Owner, VP Public Relations Kevin Inn - Pres.

$27.7 $18.5 $19.8

49.4% -6.5%

202 192

154

Parents And Children Together

Ryan Kusumoto - Pres., CEO Norma Spierings - Chief Development Officer Margaret Takahashi - Chief Administrative Officer

$27.0 $27.8 $27.1

-2.9% 2.5%

344 382

155

Honolulu Museum of Art

Kitty Wo - Chair Halona Norton-Westbrook - Director & CEO

$26.9(20) $13.6(21) $18.9(22)

97.7% -27.9%

156

Hawaii National Bank

Bryan Luke - Pres., CEO Ricky R.K. Ching - Exec. VP, CFO Warren K.K. Luke - Chair

$26.9 $27.5 $28.5

-2.3% -3.5%

157 164

157

Waikiki Health

Phyllis Dendle - CEO

$26.7 $25.4 $20.3

5.3% 24.9%

195 181

135 177

129 143

118 192

145 176

150 173

167 188

147 172

185

149 167

94

General contractor performing commercial, design/build, retail, restaurant, hospitality and residential construction. www.honolulubuilders.com

Aloha United Way advances the health, education, and financial stability of every person in our community by bringing together resources, organizations, and people. www.auw.org Provides full-service water and wastewater operations and maintenance, engineering services, construction management, financial services and energy solutions. www.aquaengineers.com Aqua Puhi, LLC

Insurance agency. www.atlasinsurance.com Island Holdings, Inc.

Real estate. www.betterhawaii.com Better Homes and Gardens Real Estate Advantage Realty Better Homes and Gardens Real Estate Advantage Realty North Shore Better Homes and Gardens Real Estate Advantage Realty West Better Homes and Gardens Real Estate Advantage Realty Valley Isle Nonprofit - social and educational services. www.pacthawaii.org

Art museum, educational programs, theater. www.honolulumuseum.org Honolulu Academy of Arts

Financial institution. hawaiinational.bank Hawaii National Bancshares Inc.

Established in 1967, Waikiki Health is a non-profit, 501(c)(3) Federally Qualified Health Center (FQHC) whose mission is to provide quality medical and social services that are accessible and affordable for everyone, regardless of ability to pay. Waikiki Health welcomes everyone, regardless of race/ethnicity, age, sexual orientation, socio-economic status, or any other consideration. http://www.waikikihealth.org

AU G U S T 2 0 2 2

Footnotes on page 111.

GROUP BUILDERS, INC. General & Specialty Contractor License No. ABC 10164

Our Specialties • Acoustics • Fireproofing • Drywall • Millwork • Building Insulation • Cabinets • Lath & Plaster • Exterior Insulation Finish Systems

Quality  Integrity  Responsibility Lito Alcantra, President

Azure

Aalii

Central at Ala Moana

“Forty-three years ago, a handful of men & women brought to life the vision that is Group Builders, Inc. today. The many years of craftsmanship, quality work & distinguished service to clients grew, making our team consistently reliable & resilient through the challenges of time. We are grateful to our clients for their trust and support. We appreciate our team for their loyalty and commitment. We hope to carry on our mission & goals to keep the company legacy alive in the coming years.”

803 Waimanu

Hilton Grand Vacations Grand Islander

Hilton Waikoloa

Kapolei Mixed Use (Kulana Hale)

Aulani, Disney Resort & Spa

Parklane at Ala Moana

Main Office: 511 Mokauea Street, Honolulu, Hawaii 96819 Ph. (808) 832-0888 / Fx. (808) 832-0890

Ritz Carlton Waikiki Phase 1 & 2

902 Alder (Hale Kalele)

Anaha Tower

Four Seasons Hualalai

Engineering & Estimating Office: 1823 Colburn Street, Honolulu, Hawaii 96819 Ph. (808) 832-0898 / Fx. (808) 832-0895

Email: info@groupbuilders.net | Website: www.groupbuilders.net

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

158

Hawaiian Financial Federal Credit Union

159

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Norman Okimoto - President Wendy Cheung - Sr. VP - CFO Anna Arii - Sr. VP - Administration Paulette Ito - Sr. VP - Marketing

$26.7 $30.1 $28.4

-11.6% 6.2%

106 104

Maui Economic Opportunity Inc.

Debbie A. Cabebe - CEO Gay Sibonga - COO Debra A Lorenzo - CFO

$26.6 $21.0 $16.8

26.3% 25.3%

225 231

160

AHL

Bettina Mehnert - Pres. & CEO Emile Alano - VP & COO Lisa Rapp - Principal

$26.3 $28.7 $26.5

-8.1% 8.2%

96 104

161

Wells Fargo Advisors

Thomas K. McCarthy - Sr. VP, Branch Mgr.

$26.3 $24.2 $23.3

8.8% 3.7%

41 44

162

Hawai‘i Preparatory Academy

Fred Wawner - Interim Head of School Hannah Hind Candelerio - Dir. of Advancement

$26.2(17) $19.1(23) —

37.2%

163

Maui Divers Jewelry

Cole Slater - CEO Todd Taniguchi - CFO

$26.0 — —

— —

180

164

Hawaii Baptist Academy

Ronald Shiira - President

$26.0 $21.3 $20.7

22.1% 2.6%

168 152

165

American Electric Co. LLC

Ray Hose - President Clark Tyler - VP, GM Kauai

$25.2 $37.4 $36.4

-32.7% 2.7%

110 140

166

HFS Federal Credit Union

Gerald Takase - Board Chair Nathan N. Abe - Pres., CEO

$25.0 $24.7 $27.3

0.9% -9.3%

114 124

167

Gather Federal Credit Union

Tess K. Shimabukuro - Pres., CEO Walton D.Y. Hong - Board Chair

$24.8(24) $24.5 $26.1

1.2% -6.0%

98

168

Commercial Roofing & Waterproofing Hawaii Inc.

Guy Akasaki - Pres., CEO

$24.1 $22.3 $19.9

8.1% 12.1%

97 97

143 168

164 196

146 174

154 182

166

145

130 148

152 171

153 175

162 187

96

Credit union. www.hificu.com

Nonprofit community action agency providing human service, employment and transportation services. www.meoinc.org

Architecture, interior design, planning, sustainability, existing building services, and historic architecture. www.ahl.design

Financial services. www.wellsfargoadvisors.com Wells Fargo

Independent K-12 school. www.hpa.edu

Fine jewelry manufacturer, wholesaler and retailer. www.mauidivers.com Maui Divers of Hawai‘i Pick A Pearl Hawaii Baptist Academy (HBA) was founded by Christian missionaries in 1949. Today, HBA serves more than 1,000 students each year on our preschool, elementary, middle school, and high school campuses. While HBA is often recognized for its strong academics that prepare our students for college, we believe our core values of humility, curiosity, love, and commitment equip our young leaders for life. https://www.hba.net/ Electrical contracting and services. www.americanelectric.com Olgoonik Development LLC

Federal credit union. www.hfsfcu.org

Credit union. www.gatherfcu.org

Re-roofing, roof renewal, roof recovery, repair and maintenance solutions, leak sourcing, solar PV installations, raingutters and downspouts, long-term roof management programs. www.commercialroofinginc.com

AU G U S T 2 0 2 2

Footnotes on page 111.

G E N E R A L

CO NTR AC TORS

A SSOC I ATI ON

OF

H AWA II

1932 – 2022

YEARS

Elevating Hawaii’s Construction Industry Since 1932 The General Contractors Association of Hawaii (GCA), provides advocacy, education, and networking opportunities for Hawaii’s construction industry. With over 500 member companies statewide, we are the organization of choice for Hawaii’s leading construction firms and service providers.

MEMBER BENEFITS:

Build a Powerful Network

Advocate for Our Industry

Grow Your Expertise

Lower the Cost of Doing Business

Construction is an industry built around people. Develop important relationships through GCA committees and events.

Our strong industry voice is powered by dedicated members who share their knowledge and expertise to shape policy and increase opportunities to build.

Take advantage of programs and training to develop professionally and improve your company’s bottom line.

Group rates and discount programs can help decrease your overhead expenses. We offer medical and dental plans, TDI plans, and discounts on products and services every construction business needs.

For more information and to apply for membership, visit www.gcahawaii.org info@gcahawaii.org | (808) 833-1681

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

169

Fujikawa Associates Inc.

170

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Robert K. Fujikawa - Pres.

Samuel Fujikawa - CEO

$22.3 $21.5 $30.2

3.7% -28.8%

--(11) 85

YMCA of Honolulu

Greg Waibel - President & CEO

$22.0 $23.0 $35.6

-4.3% -35.2%

127 124

171

Honolulu Community Action Program, Inc.

Robert N.E. Piper - CEO, Exec. Dir.

$21.7 $23.4 $21.7

-7.4% 8.0%

337 179

172

Hawaii Community Federal Credit Union

Tricia Buskirk - Pres., CEO Dean Uemura - Exec. VP Support Services Mel Ventura - Exec. VP Member Services

$21.5 $22.4 $23.5

-3.9% -5.1%

122 111

173

Hickam Federal Credit Union

Carol J. Ebia - Chair Scott Kaulukukui - Pres., CEO

$21.5 $22.7 $23.6

-5.5% -3.7%

104 109

174

Finance Factors Ltd.

Russell J. Lau - Chairman, CEO Robert Gregory Nelson - President Kristi L. Maynard - Exec. VP, CFO

$21.1 $23.5 $21.0

-10.1% 11.9%

119 118

175

Kama‘aina Kids

Dana Vela - President and CEO Jeff Subee - CIO Randy Miyashiro - VP Angie Southichack - VP Wendy Yasutake - VP

$21.1 $26.2 $29.6

-19.4% -11.7%

316 249

176

The Art Source Inc.

Kent Untermann - CEO Lori Untermann - VP Lon Miyaguchi - VP Operations Alexa Untermann - Sec., Treas.

$20.5 $10.6 $18.5

93.4% -42.7%

165 135

177

Halekulani Corporation

Peter E. Shaindlin - COO Shigeto Aoki - Sr. VP Akihito Saigusa - VP, Sec., Treas.

Patricia Tam - Chief Executive Advisor

$20.3 $30.0 $129.0

-32.5% -76.7%

796 941

178

Le Jardin Academy

Earl Kim - Head of School

$20.0(25) — —

179

Kapili Construction, LLC.

Brennan M.K. Leong - President Brandon Silva - Vice President

$19.3 $16.4 $11.9

17.9% 37.2%

86 85

163 165

158 149

157 185

161 181

159 180

156 186

151 166

196 135

144 68

180

98

Mechanical contractor. www.contmech.com Continental Mechanical of the Pacific

Strengthening communities through youth development, healthy living, and social responsibility programs and services. www.ymcahonolulu.org Private nonprofit providing opportunities for low-income population to achieve self-reliance. www.hcapweb.org

Federally chartered credit union. www.hicommfcu.com

Financial products and services. www.hickamfcu.org

Residential mortgages, CRE loans, savings accounts, certificates of deposit. www.financefactors.com Finance Enterprises Ltd. Educational community & environment multi-service organization. www.kamaainakids.com

Manufacturer and retailer of framed art, cabinets, closet systems and related items. Retailer of top slipper brands. www.theartsourceinc.com Pictures Plus closet systems Hawaii California Closets Plus Interiors CocoNene Hotel operations. Halekulani reopened October 1, 2021, and Halepuna Waikiki reopened July 1, 2021. www.halekulani.com, www.halepuna.com Mitsui Fudosan America Inc. Halepuna Waikiki Halekulani Independent PK-12 school. https://www.lejardinacademy.org/

dba Kapili Roofing & Painting Roofing, solar and painting contractor. www.kapiliroof.com

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

180

Blood Bank of Hawaii

181

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Kim-Anh T. Nguyen - President & CEO William Todd Lewis - COO

$19.1 $17.2 $17.3

11.3% -0.6%

114 120

Hawaiian Insurance and Guaranty Co. Ltd.

Charlene D. Moriarity - Pres.

$18.6 $17.6 $17.2

5.6% 2.3%

12 13

182

Barnwell Industries Inc.

Alexander C. Kinzler - Pres., CEO, COO, General Counsel Russell M. Gifford - Exec. VP, CFO, Treas., Sec.

$18.1 $18.3 $12.1

-1.3% 51.9%

36 43

183

Contract Furnishers of Hawaii Inc.

Wendy Shewalter - Pres. & CEO Bruce C. Shewalter - COO / RME Leanne Hachey - Design Dir.

$17.6 $16.6 $33.3

6.2% -50.3%

41 44

184

Elite Pacific Construction Inc. General Contractor www.elitepacific.net

Edwin Barlongo - President Marla Yoshihiro - Vice President Charlie Buckingham - Vice President Mathew Lee - Chairman and Founder

$17.6 $24.1 $16.9

-27.2% 42.5%

18 18

185

Hawaiian Humane Society

Anna Neubauer - CEO

$17.4 $10.7 $10.3

62.2% 3.7%

92 103

186

Elemental Excelerator Inc.

Dawn Lippert - CEO Avra Van der Zee - COO Melissa Uhl - Chief Growth Officer Tiffany Huynh - Director of External Affairs Mike Curtis - Managing Director - Finance

$17.2 $15.9 $16.3

7.9% -2.1%

32 32

174 193

171 194

168 212

178 156

155 195

Non-profit, sole provider of blood components to Hawai‘i hospitals. www.bbh.org Blood Bank Real Property Inc. Insurance coverage for homeowners with optional hurricane coverage, condominium owners, renters, dwelling fire with liability, home business and business owner policy. www.higltd.com Ocean Harbor Casualty Insurance Company Exploring for, developing, producing and selling natural gas and oil in Canada, investing in land interests in Hawai‘i, drilling wells and installing and repairing water pumping systems in Hawai‘i. www.brninc.com BOK Drilling, LLC Barnwell Hawaiian Properties, Inc. Kaupulehu Mauka Investors, LLC Kaupulehu Developments Barnwell Alakea Properties, Inc. Barnwell Kona Corporation Barnwell of Canada, Limited Dartmouth Petroleum, Ltd. Gypsy Petroleum, Ltd. J.H. Wilson Associates, Ltd. KD Kona 2013 LLLP Water Resources International, Inc. Barnwell Makai Inc. Bill Robbins Drilling, Ltd. Octavian Oil, Ltd. Herman Miller Certified dealer providing contract furnishings to businesses, government, health care and higher education. www.op-hawaii.com Office Pavilion

The Hawaiian Humane Society is an education and advocacy organization that shelters, protects, rescues, reunites and rehomes animals. It is O‘ahu’s largest animal welfare organization that is a resource for all animals. The Hawaiian Humane Society is dedicated to promoting the human-animal bond and the humane treatment of all animals. hawaiianhumane.org Elemental Excelerator is on a mission to redesign the systems at the root of climate change. Since launching in 2009, Elemental has invested in over 130 growth-stage companies and celebrated more than 20 exits, funded more than 100 technology projects, and built a platform for scaling equitable, market-driven solutions to climate change. https://elementalexcelerator.com/

Footnotes on page 111.

H AWA I I B U S I N ES S

99

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

187

Easterseals Hawaii

188

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Andrea Pettiford - CEO

$16.7 $15.0 $17.1

11.8% -12.2%

238 311

National Tropical Botanical Garden

Janet Mayfield - CEO and Director

$16.7 $12.2 $15.3

36.9% -20.3%

81 92

189

McCorriston Miller Mukai MacKinnon LLP

William McCorriston - Founding & Managing Partner Richard R. Budar - Managing Director

$16.3 $16.0 $15.0

1.9% 6.7%

86 90

190

University of Hawaii Federal Credit Union

Travis Bow - Pres., CEO

$15.7 $16.9 $19.1

-6.8% -11.6%

60 66

191

Aloha Nursing Rehab Centre

Amy Y. Lee - CEO

$15.5 $16.7 $15.9

-6.7% 4.5%

108 157

192

Wailea Golf LLC

Anne M. Takabuki - Pres.

Paul Y. Hiranaga - Controller

$14.9 $9.2 $18.6

62.2% -50.6%

91 115

193

Maunalani Nursing and Rehabilitation Center

Sai Chantavy - CEO Jerome Flores - CFO/COO

$14.6 $14.9 $14.6

-2.0% 2.2%

169 165

194

Century 21 iProperties Hawaii

Abe Lee - CEO

$14.5 $4.1 $4.7

250.8% -11.7%

4 4

195

USS Missouri Memorial Association

Tom Manuel - CFO Michael A. Carr - Pres., CEO

$14.1 $4.8 $16.1

192.7% -70.1%

105 75

196

Express Employment Professionals

Lisa A. Daijo - Pres., Owner

$13.9 $8.6 $9.1

60.8% -5.3%

22 19

183

182 202

176 190

177 200

201 191

For more than 70 years, Easterseals Hawaii has been providing exceptional, individualized, family-centered services to empower people with disabilities or special needs to achieve their goals and live independent, fulfilling lives. Our programs include early intervention, adult home and community-based services, and autism services. www.eastersealshawaii.org Catalight Foundation National Tropical Botanical Garden is a not-for-profit institution, dedicated to discovering, saving, and studying the world’s tropical plants. NTBG’s network of five botanical gardens, preserves, and research facilities encompasses nearly 2,000 acres with locations in Hawaii and Florida.

NTBG is a 501(c)(3) corporation supported by individuals and grants from public and private foundations. www.ntbg.org Legal services. www.m4law.com

As a credit union, UHFCU is a not-for-profit alternative to banks. Excess earnings are passed back to members in the form of competitive rates, additional products and services, and lower fees. UHFCU has recently been named one of “America’s Best-In-State Credit Unions” by Forbes Magazine, a finalist for “Hawaii’s Best” (four times) by the Star-Advertiser, as well as “Best Bank” by UH Manoa. www.UHFCU.com Skilled nursing facility. www.alohanursing.com Health Care Japan Co. Ltd.

Public golf courses. www.waileagolf.com Golf BC Wailea Old Blue LLC

Skilled nursing facility. https://maunalaninursing.org/

227 197

205 220

100

Real estate sales. www.c21ipropertieshawaii.com/

Non-profit organization. www.ussmissouri.org

Full service human resources, executive recruiting and staffing agency. www.expresspros.com/honoluluhi Express Services Inc

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

197

Pearl Hawaii Federal Credit Union

198

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Daniel Terada - Pres., CEO

$13.7 $14.1 $14.5

-2.6% -2.7%

72 70

Star of Honolulu Cruises & Events

Ronald D. Howard - Pres.

Layne H. Wada - Mng. Dir., VP Finance Richard A. Davison - VP Operations Mitzi Hirasawa - VP Sales & Marketing Donna M. Nakamura - Treas.

$12.9 $8.6 $43.5

50.2% -80.2%

301 115

199

CU Hawaii Federal Credit Union

James Takamine - CEO

$12.6(26) $11.3(26) $12.3(26)

11.1% -7.8%

200

Malama Solar

Chris Ah Sue - Co-owner

$12.6 $1.9 $1.6

569.0% 14.6%

184 203

206 139

191 210

Financial institution. pearlhawaii.com

Excursion boat operators, bus tour, show and transportation. www.starofhonolulu.com Ronald D. Howard Inc. dba Stars of Paradise, Tours & Attractions Paradise Imaging Inc. Aqua Marine Waikiki LLC Paradise Cruise Ltd. dba Star of Honolulu Cruises & Events RDH Transportation Services Inc. dba Royal Star Hawaii Motorcoach Tours & Destination Services Stars in Waikiki LLC dba Legends in Concert Waikiki Credit union. www.cuhawaii.com

Completely customized solar solutions. Photovoltaic, solar hot water heater, battery storage, add-on system sizing. www.malamasolar.com

—(27)

Sometimes a project requires more than planning, engineering or design.

While developers create and contractors build, we empower. Our skill in finding creative solutions to the challenges inherent in every project is just one reason U.S. News & World Report named us “One of the best law firms in the country.” If you seek excellence in real estate, construction or complex commercial law or litigation, put our team to work for you.

Topa Financial Center, 700 Bishop St. 9th Floor, Honolulu, HI 96813

Footnotes on page 111.

|

(808) 523-9000

|

legalhawaii.com

Problem solved.

H AWA I I B U S I N ES S

101

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

201

Maui Land & Pineapple Co. Inc.

Warren H. Haruki - Chair, CEO

202

Pearl Harbor Aviation Museum

203

CHIEF EXECUTIVES

SALES ($MIL) ‘21 ‘20 ‘19

EMPLOYEES

% CHANGE % CHANGE

‘21 ‘20

$12.4(28) $7.5(28) $10.0(28)

65.0% -24.9%

17

Elissa Pearl Lines - Exec. Dir.

$12.0 $6.4 $12.2

89.0% -48.0%

42 55

Aloha Green Holdings Inc.

TY Cheng - Founder

$12.0 $9.1 $5.3

31.6% 73.4%

100 72

204

Maui County Federal Credit Union

Gary Fukuroku - Pres., CEO Michele Kawahara - VP Cathy Nakamura - CFO Myron Sakamoto - COO

$11.8(29) $11.5 $13.0

2.4% -11.4%

54

205

Office of Hawaiian Affairs

Sylvia M. Hussey - CEO Casey Brown - COO Ramona G. Hinck - CFO

$11.6(30) $11.1(31) $10.5(32)

4.3% 5.3%

206

John Mullen & Co., Inc.

John Terry Terry Mullen - CEO, Chairman of the Board Sara R. Mullen - President Jong Sun Park - Executive VP Patrick Nii - VP, COO Michael Patrouch - P&C Claim Manager

$11.4 $12.8 $10.7

-11.1% 20.0%

78 83

207

Hawaiian Islands Freight Association

Stephan Edwards - Pres.

Denny Sadowski - VP Robyn Miura - Sec., Director Michael H. Lum - Treas.

Jan R. Oshiro - GM

$11.3 $11.1 $13.7

1.4% -18.7%

5 5

208

Video Warehouse, Inc.

Thomas Lee - President, Principal Ken Shimada - VP, CFO Rena Gormley - VP, COO Cody Navarro - VP, Chief Design Officer, Principal Phillip Wescott - VP, Dir. of Technology, Principal Jennifer Lee - VP

$11.0 $16.1 $16.0

-31.9% 0.6%

58 62

209

Tanaka of Tokyo Restaurants Ltd.

Own and operate three Tanaka of Tokyo restaurants. www.tanakaoftokyo.com

Richard E. Tanaka - Chair, CEO Hiroshi D. Lamansky - Pres.

Calvin Y. Yamasaki - CFO & VP Administration Alison “Bo” H. Tanaka - VP Kevin S. Lau - Corporate General Manager

$11.0 $4.2 $13.6

162.7% -69.3%

182 105

210

Honolulu Federal Credit Union (HOCU)

Mark Munemitsu - Pres., CEO Ross Inouye - Sr. VP

$11.0 $11.6 $10.8

-5.1% 7.0%

51 51

209 218

218 209

189 207

193 216

186 215

192 204

181 198

229 205

188 219

102

Landholding and operating company. www.mauiland.com Kapalua Bay Holdings, LLC Kapalua Realty Company, Ltd. Kapalua Water Co. Ltd. Kapalua Waste Treatment Co. Ltd. Kapalua Bay, LLC Kapalua Advertising Company, Ltd. Kapalua Land Co. Ltd. Maui Pineapple Company, Ltd.

National Historic Landmark, America’s WWII Battlefield, aviation museum. www.pearlharboraviationmuseum.org

Honolulu’s leading state-licensed medical cannabis dispensary. www.agapoth.com Aloha Green Cannabis Collection Hemptuary Hawaii Aloha Green Herb House Aloha Green Apothecary Federal credit union, financial institution. www.mauicountyfcu.org

Public agency responsible for improving the well-being of Native Hawaiians. www.oha.org

Insurance claim adjusting, third-party administrator. www.johnmullen.com DB Insurance

Freight forwarding. www.hifa.us

Provider of audio visual, renewable energy and energy efficiency solutions. www.theavco.com The Audio Visual Company Energy Industries

Credit union. Financial institution. www.myhocu.com

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

211

Bishop & Company Inc.

212

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Judy N. Bishop - Pres., Owner

$10.8 $6.7 $6.1

60.6% 10.6%

10 10

Anthology - A Finn Partners Company

Wenona Harris - Senior Partner, Integrated Marketing Nathan Kam - Senior Partner, Public Relations Mary Fastenau - Senior Partner David Pettinger - Senior Partner, Reseach Dennis Christianson - Managing Partner

$10.8 $11.0 $13.0

-1.5% -15.9%

84 85

213

PBS Hawai‘i pbshawaii.org

Ron Mizutani - Pres. and CEO Karen Yamamoto - Sr. VP and CFO

$10.6(17) $9.0(33) —

17.6%

23

214

Lung Rose Voss & Wagnild(34)

Adrian Lavarias - Managing Partner

$10.0 $10.5 $11.3

-4.6% -7.0%

32 33

215

Hawaii Central Federal Credit Union

Neil Shimogawa - Chair

$9.6 $10.5 $11.5

-8.9% -8.5%

42 40

216 232

195 206

202

197 214

196 213

Staffing company, executive recruitment. www.bishopco.net

Advertising and media services, digital marketing, public relations and market research. www.anthologygroup.com Finn Partners

Legal services. legalhawaii.com

Credit union. www.hawaiicentral.org

Hilton Grand Vacations Club at Waikoloa Beach Resort

Kapaa Stream Bridge Upgrade

Ala Wai Canal Dredging & Improvements

www.hdcc.com Footnotes on page 111.

Sand Island Wastewater Treatment Plant H AWA I I B U S I N ES S

103

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

216

Maui Clothing Co. Inc.

217

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Edward D. Wayne - Chair, Pres.

Victoria W. Bowley - VP Wendy Inouye - Controller

$9.6 $5.2 $16.0

84.4% -67.6%

70 49

Life Cycle Engineering

Robert Bendetti - CEO Bob Fei - CFO Peter Thomas - VP, Federal Solutions Group Caleb Shomo - VP of HR, Chief Ethics Compliance Officer Kellam White - VP of Contracts Martin Baker - VP of Finance

$9.6 $8.9 $8.1

6.9% 10.8%

49 53

218

One Kalakaua Senior Living

Michelle M. Kakazu - Exec. Director

$9.0 $8.9 $8.6

1.0% 3.5%

74 80

219

HDT

Jared Grugett - Pres. & COO

$8.8 $9.5 $5.2

-7.3% 80.9%

—(11) —(11)

220

Hale Kipa Inc.

Venus Kau‘iokawēkiu Rosete-Medeiros - CEO Gwen Okamoto - CFO

$8.7 $8.7 $9.3

0.1% -6.8%

85 82

221

House of Finance Inc. Residential mortgage lender. www.hofhawaii.com

Roland C. Casamina - Pres., CEO Rico Gomez - CIO, CFO Matt Haruo Casamina - COO

$8.6 $8.5 $4.9

1.0% 73.6%

14

222

Hawai‘i Public Radio

José A. Fajardo - Pres. and GM

$8.4(25) — —

223

Kaua‘i Federal Credit Union

Monica Belz - Pres., CEO

$8.2(35) $7.3(35) $7.1(36)

225 199

203 221

199 236

204

207 240

211 227

104

Retail swimwear, clothing, accessories and gifts. www.mauiclothingcompany.com Aloha Gifts & Gallery Boutique Aloha Cruise Destination Palm Escape to Maui Footprints Kapalua Logo Shop Making Waves Maui Clothing Outlet Maui Water Wear Panama Jack’s Pretty Wahine Professional engineering services provider. Providing DoD and other federal agencies with a full range of solutioncentric services in the areas of engineering, logistics, shipyard planning and engineering process support, waterfront maintenance support, information/cybersecurity, IT operations & maintenance, and financial management. www.lce.com Life Cycle Engineering Senior living facility with assisted living services. www.onekalakaua.net

Telecommunications. Internet, TV, voice, and cloud-based solutions. www.hawaiidt.com Xiber LLC Xiber Home LLC Hale Kipa is a nationally accredited youth service provider responsive to the emergent or ongoing needs of roughly 2,000 of Hawai‘i’s youth/young adults (ages 3-27, over 47% of Hawaiian ancestry) annually. The mission is to provide opportunities and environments that strengthen and encourage youth, their families and communities to actualize their potential and social responsibility. www.halekipa.org

Nonprofit organization and statewide member of National Public Radio. https://www.hawaiipublicradio.org/

Credit union. www.kgefcu.org

AU G U S T 2 0 2 2

11.5% 3.4%

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

224

Gartner Inc.

215 226

CHIEF EXECUTIVES

Gartner provides guidance and research based on proven best practices and analysis to help our customers save money and time by making better and faster decisions on all technology matters. Gartner Customers have access to over 2,000 Gartner Research Advisors, over 130,000 proprietary research documents, how-to toolkits, contract and proposal reviews and analysis. www.gartner.com Garnter Inc. META Group AMR Research Burton Group, Inc. IDEAS International Software Advice Marketvisio Nubera Capterra Machina Research SCM World CEB L2

Mike Flannery - Sr. Account Executive Steve Lipscomb - Sr. Account Executive – Dept. of Defense Leena Assaf - Account Exec.

Mitchell Medlin - Account Exec.

Alika Randazzo - Account Exec.

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

$8.0 $6.9 $7.2

16.4% -4.6%

5 5

www.ktasuperstores.com www.ktasuperstores.com

Devoted Devoted to to the the community community since since 1916.

1916.

KTA Super Stores is Hawai‘i’s locally owned & operated one stop shop, serving KTA Super Stores is Hawai‘i’s locally owned & operated one stop shop, serving Hawai‘i Island’s grocery, household and pharmacy needs for over 105 years!

Hawai‘i Island’s grocery, household and pharmacy needs for over 105 years!

Downtown, Hilo Downtown, Hilo 808-935-3751 808-935-3751

Puainako, Hilo Puainako, Hilo 808-959-9111 808-959-9111

Kailua-Kona Keauhou, Kona Kailua-Kona Keauhou, Kona 808-329-1677 808-322-2311 808-329-1677 808-322-2311 Footnotes on page 111.

Waimea Waimea 808-885-8866 808-885-8866

Waikoloa Village Waikoloa Village 808-883-1088 808-883-1088

Express, Kealakekua Express, Kealakekua 808-323-1916 808-323-1916

KTA Delivery in Hilo KTA Delivery in Hilo delivery.ktasuperstores.com delivery.ktasuperstores.com

H AWA I I B U S I N ES S

105

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

225

The Hawaii Group

226

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Matthew S. Delaney - Pres., CEO

$7.6 $7.3 $5.1

4.7% 43.8%

162 170

Legal Aid Society of Hawaii

Nalani Fujimori Kaina - Exec. Dir.

$7.2 $7.4 $6.4

-2.8% 14.5%

108 106

227

Integrated Security Technologies Inc.

Christine Lanning - Pres.

$7.1 $9.4 $8.4

-24.5% 11.9%

32 36

228

ATN Construction

Richie Breaux - CEO

$7.0 $4.4 $3.8

58.8% 15.0%

45 25

229 246

Pacific Fleet Submarine Memorial Association

Capt. Chuck Merkel - Exec. Director

$6.9 $1.9 $8.4

273.0% -78.0%

35 25

230

Legacy of Life Hawai‘i

Leonard Licina - Pres. & CEO

$6.8 $6.4 $6.4

5.8% -0.2%

24 24

231

Alana Investment Group, LLC

Charles Harris - Managing Partner Savan Patel - Managing Partner

$6.5 $0.9 $0.0

651.0% 8,173.5%

26 17

232

Staffing Solutions of Hawaii Inc.

Lisa Truong Kracher - President

$6.0 $4.8 $5.2

23.4% -7.7%

25 23

213 238

210

200 223

217 228

226

106

Outsourcing services, accounting and tax services, health care staffing, home care, consulting and advisory services. www.thehawaiigroup.com DemandHR Cradles N’ Crayons LLC Hawaii Health Care Inc. (HiHealthCare) Hawaii Accounting LLC (HiAccounting) Hawaii Nursing Inc. (HiNursing) Hawaii HomeCare Inc. (HiHomeCare) The Legal Aid Society of Hawai’i is a public interest, non-profit law firm dedicated to achieving fairness and justice through legal advocacy, outreach, and education for those in need. Established in 1950, Legal Aid has 10 offices statewide and over 100 staff members dedicated to achieving Legal Aid’s vision of “Building a Just Society.” legalaidhawaii.org Low voltage electrical contractor specializing in electronic security and nurse call systems. www.istechs.net

Custom design build firm. www.atnhawaii.com

Operate a WWII submarine and submarine museum. bowfin.org

Health care: federally designated organ procurement organization. We save lives by coordinating the recovery of organs and tissue for transplantation. www.legacyoflifehawaii.org Alana Investment Group is a Hawai‘i-based investment firm focused on the acquisition of real estate and real estate– related operating companies. The company currently has 3 subsidiaries: 1) Infinium Interiors LLC (contract furniture dealer); 2) Pacific Asset Strategies (commercial property management firm); 3) Sea Imports (wholesale distributor of furniture and architectural design material). alanaig.com Pacific Asset Strategies Sea Imports, LLC Infinium Interiors, LLC For over 30 years, Staffing Solutions of Hawaii, Inc. (SSOH) has joined people to jobs by providing government and commercial employers in all industries with exceptional results (contract, temporary, temporary-to-hire, direct hire, and payroll services). www.staffingsolutionsofhawaii.com Array Corporation

AU G U S T 2 0 2 2

Footnotes on page 111.

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

233

Boys & Girls Club of Hawaii

234

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Paddy Kauhane - President & CEO

$6.0 $5.3 $5.7

12.0% -6.4%

61 56

Vivia Cares, Inc.

Dew-Anne Langcaon - CEO and President, Vivia Cares, Inc. Tanya Fernandes - CEO, Ho’okele Home Care Bonnie Castonguay - Chief Clinical Officer

$5.7 $5.4 $4.3

6.3% 24.6%

123 136

235

Infinium Interiors, LLC

Savan Patel - CEO Nathan Stierli - VP

$5.7 $5.5 $4.2

3.7% 28.7%

22 17

236 237

Na Kahu Malama Nurses Inc., a Staffing Solutions of Hawaii company

Lisa Truong Kracher - President

$5.6 $3.3 $3.5

70.3% -5.6%

12 11

237

Valley Isle Community Federal Credit Union

Trevor Tokishi - CEO

$5.1(29) $4.8 $5.6(36)

5.7% -14.0%

238

Integrated Facility Services Hawaii

Tiera Covington - President

$4.9 $3.6 $2.0

36.9% 79.2%

38 27

239

Girl Scouts of Hawai‘i

Molly Schmidt - COO Shari W. Chang - CEO Anita DeMello - CFO

$4.8 $5.3 $5.0

-10.0% 7.2%

19 19

240

Environmental Science International, Inc.

Howard B. West - Pres.

Scott E. Simmons - Sr. VP

$4.7 $4.0 $6.3

16.5% -35.5%

20 20

221

228 234

224 239

229

Afterschool and summer learning organization serving school-aged youth on Oahu and Kauai. BGCH’s mission is to inspire all young people to become caring, responsible citizens, graduating on-time from high school with a plan for their future and living a healthy lifestyle. BGCH offers safe places through our clubhouses, caring adult mentors and life-changing youth development programs. www.bgch.com BGCH West Kauai Clubhouse BGCH Lihue Clubhouse BGCH Kapaa Clubhouse BGCH Windward Clubhouse BGCH Waianae Clubhouse BGCH Nanakuli Teen Center BGCH NFL YET Nanakuli Clubhouse BGCH Hale Pono Ewa Beach Clubhouse BGCH Charles C Spalding Honolulu Clubhouse (fka Ho‘okele Health Innovations, LLC) Vivia Cares, Inc. is a technology-enabled home care service helping seniors age well at home since 2006. Its Ho’okele Home Care subsidiary provides services tailored to meet each senior’s needs and budgets efficiently using iHealthHome technology. Vivia by Ho’okele Home Care is its latest innovation that enables shorter, frequent and consistent visits by the same care team. viviacares.com Vivia Cares, Inc. iHealthHome, Inc. Ho’okele Health Navigators, LLC Ho’okele Caregivers Maui, LLC Ho’okele Care at Home, LLC Contract office furniture and interior design/space planning firm. www.infinium-interiors.com Alana Investment Group, LLC Sea Imports, LLC

Na Kahu Malama Nurses, Inc. (KMN) was founded by a registered nurse in 1982. As the first Joint Commission Certified, Health Care Staffing Service provider in Hawai‘i, KMN provides quality, experienced professions for both short- and long-term assignments in a variety of settings. kahumalama.com Array Corporation www.vicfcu.org

Janitorial, landscaping, maintenance and site management services. www.ifshi.com

501c3 non profit. www.gshawaii.org

Environmental consulting. www.esciencei.com

Footnotes on page 111.

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107

LIST

‘22 ‘21 ‘20

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

241

T&T Tinting Specialists Inc.

242

CHIEF EXECUTIVES

SALES ($MIL)

EMPLOYEES

‘21 ‘20 ‘19

% CHANGE % CHANGE

‘21 ‘20

Thomas E. Silva - Founder Kyle Horimoto - CEO Jennifer Ahuna - CFO

$4.7 $3.5 $4.5

33.5% -21.3%

32 30

Kona Coast Property Management LLC,

Ted Klassen - Owner

$4.5 $1.7 $3.5

159.1% -49.9%

25 19

243

Connext Global Solutions

Tim Mobley - President Taylor Goucher - Dir. of Client Services

$4.3 $3.2 $2.4

35.7% 33.2%

300 193

244

WATG

Robert M. Payan - Sr. VP, Mng. Dir.

$4.3 $2.5 $8.5

72.8% -70.6%

24 24

245 230

Intech Hawaii (aka Integration Technologies Inc.)

Sam Gridley - Owner/Chairman Paul Ventura - Owner/Managing Dir.

$4.1 $4.0 $3.6

0.5% 11.9%

25 25

246

Sachi Hawaii Pacific Century Properties LLC

Sachiyo S. Braden - Founder, Principal Broker

$3.9 $2.8 $2.8

41.2% -0.8%

10 10

247

Cetra Technology Inc.

Michael McMurdo - CEO Guy Fernandes - President Theresia McMurdo - COO

$3.8 $3.8 $3.4

2.1% 9.9%

25 24

248

Ho‘ōla Nā Pua

Jessica Munoz - CEO, Founder

$3.8 $6.3 $4.3

-39.2% 46.8%

14 10

249

Coconut Condos

242

Vacation rental management. www.coconutcondos.com

Angela E. Leone - CEO Lisa G. Meadows - COO

$3.8 $1.7 $4.4

119.9% -61.0%

11 6

250

Aloha Harvest

Phil Acosta – Exec. Director

$3.7 $1.6 $0.8

137.7% 104.9%

17 15

233 241

239

244 222

250

232

219 244

248

108

Glass tinting: graphics, autos, homes, offices, buildings and boats. www.tnttinting.com

dba Kona Coast Vacations Vacation rental management.

Konacoastvacations.com

Business process outsourcing services. Customized, highquality remote teams. Accounting, health care, back office, customer service, web development, graphic arts, human resources, consulting, tech support and more. www.connext.solutions Connext, LLC Global architecture, interior design and planning firm specializing in hospitality, entertainment, and resort. Offices in Irvine, Los Angeles, Honolulu, London, Seattle, New York, Shanghai and Singapore. www.watg.com

S Corporation www.intech-hawaii.com

Residential real estate sales and property management. www.sachihawaii.com Open House Hawaii Realty & Investments LLC Sachi Hawaii - Pacific Century Property Management LLC

Cetra Technology makes technology work for business.

Highly qualified engineers offer expertise in a vast array of IT services, including cloud, Virtual Desktop, VOIP telephony, infrastructure, backup and disaster recovery, forensic investigation, fraud detection (banking), physical security (access control), cybersecurity and digital marketing. Cetra has offices in Honolulu, Maui and Manila. cetratech.com Prevention of sex trafficking and providing care for children who have been exploited. Areas of work: health, human services, at-risk youth, disadvantaged populations, child abuse, trafficking and exploitation, art, culture, and education. www.hoolanapua.org

Aloha Harvest is the largest nonprofit organization in Hawai‘i dedicated to food rescue and sustainability. We rescue quality excess food to nourish and strengthen our community. We have a vision of a resilient state where hunger and food waste no longer exist. www.alohaharvest.org

AU G U S T 2 0 2 2

Footnotes on page 111.

INDEX

The Index Starts Here pg.#

A Adventist Health Castle......................................70 AECOM ...........................................................................86 AHL ....................................................................................96 Alaka‘i Mechanical Corp.....................................88 Alan Shintani, Inc. ....................................................94 Alana Investment Group, LLC ..................... 106 Alaska Airlines ............................................................ 72 Albert C. Kobayashi Inc. .......................................74 Alexander & Baldwin, Inc. ...................................74 Allstate Insurance Co. ..........................................82 Aloha Air Cargo ......................................................... 78 Aloha Auto Group Ltd., dba Aloha Kia ...................................................... 80 Aloha Green Holdings Inc. ..............................102 Aloha Harvest.......................................................... 108 Aloha Nursing Rehab Centre .......................100 Aloha Pacific Federal Credit Union ............92 Aloha United Way ....................................................94 AlohaCare ..................................................................... 72 American Electric Co. LLC ................................96 American Savings Bank .......................................74 Anthology A Finn Partners Company ........................ 103 Aqua Engineers, Inc...............................................94 Art Source Inc., The................................................98 Atlas Insurance Agency ......................................94 ATN Construction................................................. 106 B Bacon-Universal Co. Inc. ...................................84 Bank of Hawaii Corp. .............................................70 Barnwell Industries Inc. .......................................99 Better Homes and Gardens Real Estate Advantage Realty .................94

pg.#

pg.#

Bishop & Company Inc. .................................... 103 Blood Bank of Hawaii ............................................99 Bowers + Kubota Consulting Inc. .................86 Boys & Girls Club of Hawaii ............................107

GEICO.............................................................................. 78 Gentry Homes Ltd. .................................................82 Girl Scouts of Hawai‘i ..........................................107 Goodwill Hawaii ........................................................93 Group Builders Inc. ................................................ 87

C C. S. Wo & Sons, LLC..............................................84 Catholic Charities Hawai‘i .................................82 Central Pacific Financial Corp. ...................... 76 Century 21 iProperties Hawaii .....................100 Cetra Technology Inc. ....................................... 108 Chaminade University of Honolulu ........... 90 Child & Family Service .........................................93 City Mill Company Ltd. ........................................84 Coastal Construction Co. Inc. ........................82 Coconut Condos .................................................. 108 Coldwell Banker Realty .......................................86 Commercial Roofing & Waterproofing Hawaii Inc. ...........................96 Connext Global Solutions .............................. 108 Contract Furnishers of Hawaii Inc...............99 Corcoran Pacific Properties............................. 87 Crum & Forster ..........................................................93 CU Hawaii Federal Credit Union .................101 Cutter Management Co. ................................... 80 Cyanotech Corporation......................................93 D David S. De Luz Sr. Enterprises Inc...............81 DB Insurance Co. Ltd............................................84 DTRIC Insurance Company, Ltd. ................. 90 E Easterseals Hawaii ...............................................100 Elemental Excelerator Inc. ................................99 Elite Companies, The ............................................ 87 Elite Pacific Construction Inc. ........................99 Environmental Science International, Inc. .............................................107 Express Employment Professionals ........100 F Farmers Group, Inc.................................................92 Finance Factors Ltd. ..............................................98 First Hawaiian Bank ...............................................70 First Insurance Company of Hawaii Ltd. ........................................................ 76 Fujikawa Associates Inc. .....................................98 G G70.....................................................................................93 Gartner Inc. ............................................................... 105 Gather Federal Credit Union ..........................96

H Hale Kipa Inc. ............................................................104 Hale Koa Hotel .......................................................... 90 Halekulani Corporation .......................................98 Hardware Hawaii ......................................................88 Hawaii Baptist Academy ....................................96 Hawaii Central Federal Credit Union ................................... 103 Hawaii Community Federal Credit Union ......................................98 Hawai‘i Community Foundation ...................82 Hawaii Dental Service (HDS) ........................... 76 Hawaii Foodbank Inc. ...........................................88 Hawaii Foodservice Alliance LLC ................78 Hawai‘i Gas ................................................................... 78 Hawaii Group, The................................................ 106 Hawaii Health Systems Corp........................... 72 Hawai‘i Life Real Estate Services LLC.............................84 Hawaii Medical Assurance Association (HMAA)......................................... 78 Hawaii Medical Service Association (HMSA) .........................................66 Hawaii National Bank ............................................94 Hawai‘i Pacific Health ...........................................68 Hawai‘i Pacific University ...................................84 Hawaii Petroleum LLC ......................................... 80 Hawaii Planing Mill, Ltd. ...................................... 78 Hawai‘i Preparatory Academy ........................96 Hawai‘i Public Radio ............................................104 Hawaii State Federal Credit Union .............86 Hawaiian Airlines......................................................68 Hawaiian Cement .....................................................81 Hawaiian Dredging Construction Company, Inc. ......................................................70 Hawaiian Electric Industries, Inc. .................66 Hawaiian Financial Federal Credit Union ......................................96 Hawaiian Humane Society................................99 Hawaiian Insurance and Guaranty Co. Ltd. ..............................................99 Hawaiian Islands Freight Association ........................................102 Hawaiian Telcom ......................................................68 HawaiiUSA Federal Credit Union .................84 HawkTree International Inc. ............................. 87 HDT ..................................................................................104

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INDEX

pg.#

pg.#

Heide & Cook LLC ...................................................92 HEMIC .............................................................................86 Hensel Phelps ............................................................ 76 HFS Federal Credit Union .................................96 Hickam Federal Credit Union .........................98 Hilo-Kona Mazda Subaru Hyundai .............92 Honolulu Authority for Rapid Transportation (HART).................... 76 Honolulu Board of Water Supply ................. 76 Honolulu Builders LLC .........................................94 Honolulu Community Action Program, Inc. .........................................................98 Honolulu Federal Credit Union (HOCU) ....................................................102 Honolulu Museum of Art ....................................94 Ho‘ōla Nā Pua .......................................................... 108 House of Finance Inc..........................................104 Humana ...........................................................................81

Infinium Interiors, LLC ........................................107 Intech Hawaii (aka Integration Technologies Inc.) .......................................... 108 Integrated Facility Services Hawaii ..........107 Integrated Security Technologies Inc. ........................................... 106 ‘Iolani School............................................................... 87 Isemoto Contracting Co. Ltd...........................88 Island Energy Services LLC .............................70 Island Insurance Companies, Ltd. ................81

I I. Kitagawa and Co. Ltd........................................82 Industrial Logistics Properties Trust .......... 78

J James Campbell Company LLC ................... 76 JBG Corporation......................................................86 Jim Falk Automotive Group.............................. 72 John Mullen & Co., Inc. ......................................102 Jones Hawaii Acquisition Co. LLC................81 K Kāhala Nui .................................................................... 90 Kaiser Permanente Hawaii ................................68 Kama‘āina Kids ...........................................................98

Kapili Roofing is a family-owned and operated company based on Oahu, and serving families in all surrounding communities!

"Building Peace of Mind, One Roof at a Time!"

Roof Replacements Roof Repair Roof Maintenance Photovoltaic Painting

110

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Mahalo For Choosing KAPILI! VISIT US AT

KAPILIROOF.COM

pg.#

Kamehameha Schools ......................................... 72 Kapili Construction, LLC, dba Kapili Roofing & Painting ...................98 Kaua‘i Federal Credit Union ...........................104 Kaua‘i Island Utility Cooperative ................. 80 Kawailoa Development LLP .............................82 Kokusai Kogyo Kanri Kabushiki Kaisha US Operations...................................................... 72 Kona Coast Property Management LLC, dba Kona Coast Vacations ...................... 108 Kuakini Health System ........................................ 80 Kualoa Ranch Hawaii Inc................................... 90 L Layton Construction ............................................. 78 Le Jardin Academy.................................................98 Legacy of Life Hawai‘i ........................................ 106 Legal Aid Society of Hawaii........................... 106 Life Cycle Engineering ......................................104 Lili‘uokalani Trust .................................................... 90 Locations .......................................................................88 Lung Rose Voss & Wagnild (fka Bays Lung Rose & Voss) ............................... 103 M Malama Solar...............................101 Matson, Inc. ...................................66 Maui Clothing Co. Inc. .........104 Maui County Federal Credit Union......102 Maui Divers Jewelry ................96 Maui Economic Opportunity Inc. ..................96 Maui Land & Pineapple Co. Inc..............102 Maui Medical Group Inc................................. 90 Maui Varieties Ltd. / HouseMart Stores ...............81 Maunalani Nursing and Rehabilitation Center....100 McCorriston Miller Mukai MacKinnon LLP .................100 Merrill Lynch ................................ 90 Mid-Pacific Institute .............. 90 MJC Inc. dba Cutter Automotive Galleries ........ 76 Morgan Stanley Wealth Management........82 N Na Ali‘i Consulting & Sales LLC ..................................92 Na Hoku, Hawaii’s Finest Jewelers Since 1924 ..........82

INDEX

pg.#

Na Kahu Malama Nurses Inc., a Staffing Solutions of Hawaii company .................107 Nan Inc. ........................................................................... 72 National Tropical Botanical Garden........100 New City Nissan - Rosebridge LLC ............ 87 New York Life Insurance Co. ............................84 Nordic PCL Construction Inc. ........................ 72 O Office Depot/OfficeMax Hopaco Premium Inc. .................................... 80 Office of Hawaiian Affairs.................................102 One Kalakaua Senior Living ...........................104 P Pacific Fleet Submarine Memorial Association .................................. 106 Pacific Guardian Life Insurance Company Ltd........................................................86 Pacxa ................................................................................93 Par Hawaii, LLC..........................................................66 Paradigm Construction LLC ............................93 Parents And Children Together ....................94 Pasha Hawaii ...............................................................70 PBS Hawai‘i................................................................ 103 Pearl Harbor Aviation Museum....................102 Pearl Hawaii Federal Credit Union .............101 Pflueger Inc. ................................................................86 Pharmacare Hawaii Inc.........................................81 Pleasant Holidays LLC .........................................93 Polynesian Cultural Center, The...................92 Prince Resorts Hawaii........................................... 78 ProService Hawaii ....................................................74 Punahou School ....................................................... 76

pg.#

Q Queen’s Health Systems, The .........................68 R Ralph S. Inouye Co. Ltd. ...................................... 87 RAM Corporation.....................................................88 REHAB Hospital of the Pacific .......................88 RevoluSun Smart Home / RevoluSun LLC................................................... 90 Royal Contracting Co. Ltd..................................81 S S & M Sakamoto, Inc. .............................................93 Sachi Hawaii Pacific Century Properties LLC.................................................. 108 Salvation Army Hawaiian & Pacific Islands, The...........................................92 Securitas Security Services USA Inc. ........86 Sen Plex Corp. ............................................................93 Servco Pacific Inc....................................................66 Shioi Construction Inc. dba Creative Partition Systems ..............88 St. Francis Healthcare System of Hawaii................................................92 Staffing Solutions of Hawaii Inc. ................ 106 Star of Honolulu Cruises & Events .............101 State Farm Insurance Co. ..................................70 Stoebner Holdings Inc. ........................................84 Suisan Group Inc. ....................................................88 Sutter Health Pacific Kahi Mohala ..............92 Swinerton .......................................................................81 T T&T Tinting Specialists Inc............................. 108 Tanaka of Tokyo Restaurants Ltd. ..............102 Territorial Savings Bank....................................... 87

pg.#

Tony Group ...................................................................74 U UHA Health Insurance (University Health Alliance) ........................74 University of Hawai‘i ..............................................68 University of Hawai‘i Foundation ................. 87 University of Hawaii Federal Credit Union ...................................100 USS Missouri Memorial Association........100 V Valley Isle Community Federal Credit Union ....................................107 Video Warehouse, Inc. .......................................102 VIP Foodservice .......................................................84 Vivia Cares, Inc. (fka Ho‘okele Health Innovations, LLC)............................107 W Waikiki Health.............................................................94 Wailea Golf LLC .....................................................100 Wasa Electrical Services Inc. ..........................82 WATG ............................................................................. 108 Watumull Brothers Ltd........................................ 80 Wells Fargo Advisors .............................................96 WestPac Wealth Partners Hawaii.................93 Windward Auto Sales Inc. ..................................86 Y Y. Hata & Co., Limited .............................................74 YMCA of Honolulu ..................................................98 Young Brothers LLC.............................................. 80 Z Zephyr Insurance Co. Inc...................................88

Footnotes Cincinnati Bell and its family of companies that include Hawaiian Telcom was acquired by Macquarie Infrastructure Partners V, an unlisted infrastructure fund managed by Macquarie Asset Management, in September 2021. Revenue recorded in the period prior to the acquisition totaled $1,138.7 million and revenue recorded subsequent to the acquisition totaled $554.4 million for combined revenue of $1,693.1 million which is considered a non-GAAP measure. (2) Direct premiums written in Hawai‘i per DCCA, including State Farm Fire & Casualty Co. and State Farm Mutual Auto Ins. Co. (3) Per HHSC report to the Legislature for FY 2021. (4) Per HHSC report to the Legislature for FY 2020. (5) Per HHSC report to the Legislature for FY 2019. (6) Per audited financial statement. (7) Data not reported. (8) Previously listed as Select Income REIT. (9) Financial data not available. (10) Direct premiums written in Hawai‘i per DCCA. (11) Data not provided. (12) Total interest + non-interest income per FDIC report. (13) Previously known as Resco Inc. (14) Previous parent: U.S. Army Community & Family Support Center (VA). (15) Previously listed as RevoluSun Smart Home. (16) Data not supplied. (17) Per 2021 annual report. (18) Per 2019 annual report. (19) Gross Annual Sales amount unaudited at time of survey and subject to change. *AUW administered an additional $26M in rental assistance in 2020. Total 2021 revenue does not include rental assistance figures. (20) Total revenues, gains from HoMA 2021 financial statement. (21) Total revenues, gains from HoMA 2020 financial statement. (22) Total revenues, gains from HoMA 2019 financial statement. (23) Per 2020 annual report. (24) Total interest + non-interest income, per NCUA call report. (25) Per annual report. (26) Total interest income + non-interest income, per Call Report Form 5300. (27) Employee number not reported. (28) Per Form 10-K from the US SEC. (29) Total interest + non-interest income per NCUA call report. (30) Charges for services + operating grants, per 2021 annual report.

(31) Charges for services + operating grants, per 2020 annual report. (32) Charges for services + operating grants, per 2019 annual report. (33) Per 2020 annual report. (34) Formerly Bays Lung Rose & Voss; name change effective May 2022. (35) Total interest income + non-interest income per NCUA call report. (36) Total interest income + total non-interest income, per Call Report Form 5300 (1)

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PHOTO: IFJKE RIDGLEY, COURTESY OF DAWN LIPPERT

Two-wheel e-bikes and scooters plus Onewheels and even electric unicyles are great for short trips – and can be lots of fun

> BY C H AVON N I E R A M OS > PH OTOS BY AAR ON YOS H IN O

Two-wheel e-bikes and scooters plus Onewheels and even electric unicyles are great for short trips – and can be lots of fun

H AWA I I B U S I N ES S

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when the store first opened in Honolulu in 2013, “the demographic was a lot different.”

A lot of customers were in their 60s, some with “mobility issues,” she says. But in the last three to five years, e-bikes have become “insanely popular among younger generations.”

One of Ebikes Hawaii’s cheapest models costs around $1,199; the most expensive ones can cost up to $8,000.

USERS OF MANY AGES

On Wednesday and Friday evenings, members of Hawaii Float Sessions gather across from BikeFactory Hawaii in Kaka‘ako for a scenic ride to Waikīkī on their Onewheels: self-balancing single-wheel electric skateboards.

“Onewheels changed my life,” says Jay Gatchalian, co-founder of the group. “It saved me so much money on gas and I’ve met some of the most awesome people in the Onewheel community.”

A Onewheel moves when the rider places both feet on the board, and because it’s self-balancing, you don’t have to be a gymnast to use it. It is one of the many personal electric vehicles that are convenient for short trips and reduce their owners’ carbon footprints. And PEVs can be just plain fun to ride.

Ephraim Botulan, another co-founder of Hawaii Float Sessions, says people with other PEVs like electric bicycles, skateboards and scooters are also welcome at the group’s community rides and other experiences. Its Facebook group has over 400 members.

GREENHOUSE GAS EMISSIONS

Ground transportation accounts for 47% of the state’s greenhouse gas emissions, according to a 2021 Hawai‘i State Energy Office report. (tinyurl.com/3a9wunk5) The office also estimates that 60% of trips in Hawai‘i are under 3 miles, ideal for PEVs, which are far more energy efficient than cars.

Honolulu has the highest potential for micromobility to succeed, according to a 2019 ranking of 10 U.S. cities by mobility analytics company Inrix. Micromobility is defined as transportation over short distances with lightweight vehicles. The study cited Honolulu’s warm climate and frequency of short trips.

CHANGING DEMOGRAPHIC

Iniki Galway commutes to work on her electric bike from Kalihi to Kapahulu – about 3.5 miles – and says she “generally feels safe” along the way.

Galway is marketing manager of Ebikes Hawaii, an electric bike store with locations in Honolulu and Kapolei. She says

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On its social media platforms, Hawaii Business Magazine asked people what micromobility vehicles they use and why. Sixteen people of varying ages responded: Three were in their 20s, five in their 30s, four in their 40s and four over 50.

One person said they use an e-scooter, three use e-bikes, six use a Onewheel and three use an e-unicycle. One person said they use an e-bike and e-scooter, another uses a Onewheel and e-scooter, and one other uses a Onewheel and e-unicycle.

Ryan Nakazaki, who was a policy fellow at Blue Planet Foundation when we talked to him, worked closely with government officials and partners to create programs and projects that reduce carbon emissions from buildings and vehicles. He would commute to work on TheBus or by bike and does not own a car.

He says micromobility vehicles support “mode shift,” meaning they get people out of their cars and into cleaner modes of transportation. Achieving mode shift is a challenge, Nakazaki admits, as “people are reluctant to give up cars because of the flexibility” they provide.

But micromobility vehicles have many uses.

For instance, on long trips, they often solve the “first mile, last mile problem” – the distance commuters need to travel from their homes to their transit stops, or from their transit stops to their destinations, Nakazaki says.

CHANGING TRANSPORTATION’S FUTURE

Kaimukī resident Mackenzie Walsh and her husband moved to O‘ahu in 2019, already intending to be bike commuters. She says e-bikes are convenient because finding and paying for car parking is a hassle.

“The bike itself is extremely affordable compared to a car and the maintenance required on one,” says Walsh.

She says that in addition to commuting to work, she and her husband use e-bikes when they go surfing or run errands within a 2-mile radius.

The 34-year-old admits bike riding feels “a little bit dangerous” and does not think “the majority of people in Hawai‘i care about bikers.”

She describes riding along the Ala Wai Canal, with walkers and joggers crowding the bike lane. Once, she says, she tried to get the attention of a woman blocking the way, but the jogger didn’t notice because she had headphones on.

BEWARE OF ROAD RAGE DRIVERS

‘Āina Haina resident and e-bike rider Michael Keany echoes these concerns and mentions another. He says he’s been hit by cars and that “road rage people” have hopped out of their vehicles to try to fight him.

“Some car drivers just really have an adversarial relationship with bikes,” says Keany, who has been a cyclist for decades.

He says Honolulu’s “bike-ability” has improved over the years. When he first started riding, he says, there were no bike lanes and competing for space with cars was scary.

WHERE CAN I RIDE A PEV, AND IS IT LEGAL?

MORE BIKE LANES

That is something the city is working on: creating more designated bike lanes and increasing its bikeway network.

According to the Honolulu Department of Transportation Services, O‘ahu has 220 miles of on- and offroad bikeways, including shared-use paths, conventional bike lanes and shared roadways.

A 2019 update to O‘ahu’s bike plan (tinyurl.com/HIBikePlan) calls for an additional 575 miles of bikeways, which includes 325 miles to be created by the city. The remaining 250 miles proposed are under state or private jurisdiction.

The Department of Transportation

No PEVs are allowed on sidewalks.

E-bikes are the only PEVs allowed on both roads and bike lanes.

Iniki Galway of Ebikes Hawaii

E-scooters are allowed in bike lanes, but cannot go faster than 15 mph. Other PEVs are not legally allowed to ride in bike lanes.

Onewheels are in a separate category from other PEVs and have yet to be defined by state traffic code.

Source: Honolulu Department of Transportation Services and Hawai‘i Revised Statutes

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Services says there is no set timetable to create the additional miles, but the city aims to complete Phase I within five years.

Providing the proper infrastructure for micromobility vehicles, Nakazaki says, encourages more people to use them, and the South King Street protected bike lane, which was completed in 2014, is an example of that.

Bicycle ridership along the South King route before the protected bike lane was installed was 55 per day, according to DTS. After the bike lane was installed, the numbers increased to 331 per day.

BIKI STILL GOING

As of August 2020, there were more than 260 shared micromobility systems in the U.S., including those for docked and dockless bikeshares and e-scooters, according to the U.S. Department of Transportation. (tinyurl.com/r9ps7vcv) The national survey found that half of those systems shut down early in the pandemic, either temporarily or permanently.

But rental scooter company Go X launched during the pandemic, and co-founder Khodor Salam says ridership is increasing on O‘ahu.

After about a year of operations, Salam says, Go X has had enough rides to basically circle O‘ahu 1,400 times.

Honolulu’s bikeshare system, Biki, almost went under during the pandemic but survived “the shock of reduced riders and supply chain issues,” says Bikeshare Hawaii Executive Director Todd Boulanger.

This year, Biki celebrated its fifth anniversary and reached over 5 million rides – equivalent to 11 million miles ridden on Biki bikes, according to Boulanger. The nonprofit says it has over 100 stops and 1,000 bikes in its fleet.

According to a 2021 report from Biki, the bikes are used most in Waikīkī (38%) and the Ala Moana/Kaka‘ako area (27%); 19% of Biki users reported using the bikes to connect to TheBus.

PROBLEMS IN THE PAST

ELECTRIC BIKI?

GROWING ACCEPTANCE OF RENTALS

Honolulu has had issues with e-scooters in the past: Lime, a global e-scooter company, ran into trouble with the city government in 2018 because the company and its customers left their scooters on city sidewalks. There was also confusion back then about where people could ride the e-scooters; they were classified as mopeds, which are not supposed to be operated on sidewalks.

City and state laws ban PEVs from sidewalks. And a law that took effect in 2021 classifies e-scooters separately from mopeds, though the sidewalk prohibition remains.

Go X e-scooters can be picked up and dropped off at more than 50 locations in Waikīkī, such as hotels and stores. Customers find the e-scooters and pay for them using a phone app.

Salam says the company and its app reinforce safety messages for riders. He explains that when a customer picks up an e-scooter, the app outlines scooter laws in the city, and as customers ride, they get another notification reminding them to follow local traffic laws and to keep off sidewalks.

GROWING NUMBERS OF ELECTRIC CARS AND TRUCKS Honolulu has 598,028 registered passenger vehicles, according to the city’s 2021 sustainability report. (tinyurl.com/HNLreport) Electric vehicle registrations, meanwhile, jumped from 9,644 in 2020 to 12,240 in 2021.

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Salam says the company has not had a single safety incident since it started, and that customers rarely leave their scooters on sidewalks or roadways. Go X’s system detects when a scooter has been abandoned, stolen or broken.

AU G U S T 2 0 2 2

Boulanger says Biki is considering adding e-bikes and “waiting for that broader community discussion.”

Biki has a prototype of an electric bike called “E-Fit” that it says has been successfully tested in Barcelona, Spain; Monaco; Buenos Aires, Argentina; and Santiago, Chile.

Boulanger notes that Biki was supposed to open at the same time as Honolulu’s rail system. But the train’s still not running, and he says the city should “double down or triple down” on its support for Biki to help riders get to their destinations, especially if rail does not make it all the way to Ala Moana Center.

The city provided a $1 million grant to Biki in 2014-15 for pre-launch work but no financial support since then. Biki operations rely on fare revenue, sponsorship and grants, Boulanger says.

“However, they are critical partners in the areas of station hosting and permitting,” he says. Those areas include the buildout of protected bikeway networks and other Complete Streets projects “that give Biki customers a safer place to ride.”

The pandemic demonstrated another reason micromobility vehicles are valuable, Boulanger says.

“The city leadership realized we were an essential service because people were looking for alternatives because they didn’t want to be inside TheBus or Uber during Covid.”

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WE SURVEYED ALMOST 400 LOCAL BUSINESS LEADERS:

GOOD NEWS WAS SCARCE

BUT REALLY BAD NEWS WAS ALSO RARE – EVEN IN RETAIL. WHAT WE LEARNED WAS A LOT ABOUT RISING PRICES, INCREASED DIFFICULTY IN HIRING, SURPRISING SUPPORT FOR THE HIGHER MINIMUM WAGE AND MUCH MORE.

by STEV E PETR A N I K

THE BOSS SURVEY & 808 POLL

B O S S P E R FO R M A N C E I N D E X

PA R T I

IS THE OVERALL TEMPERATURE OF THE LOCAL BUSINESS ECONOMY HOT OR COLD?

Performance Index measures changes in employment, gross revenue and profit before taxes at the surveyed companies in the past year.

Pre-Pandemic Peak

150

125

123

119

Third Straight Survey with Improved Performance

116

116

116

113 102

100

89

107

90

75

ACTUA LLY, IT SEEMS LU K EWA R M – and lukewarm qualifies as a pretty

cozy result considering the lingering effects of the pandemic on the local economy, plus inflation and supply chain difficulties.

That’s the overall picture from the BOSS Survey of 396 local business owners and executives, including a survey within a survey of the retail industry.

What’s especially interesting are the details about hiring, remote work, price increases, pandemic restrictions and personal things like whether children have fallen behind in their learning. There are so many interesting facets that we devoted 10 pages to results from the BOSS Survey and 808 Poll of the general public.

We’ll start with the big picture and the outlook for the future, then provide the other compelling revelations.

50

25

0 OCT 2017

APR 2018

NOV 2018

MAY 2019

OCT 2019

APRIL 2020

NOV 2020

APR 2021

OCT 2021

MAY 2022

Index started at 100 in 1998.

• Gross revenue: 37% of those surveyed enjoyed increased revenue at their companies compared to a year ago, vs. 36% who suffered a decline. The rest stayed about the same.

• Profit before taxes: 28% up vs. 39% down.

• Employment: 16% up vs. 24% down.

M E T H O D O L O GY FO R B O S S S U RV E Y A N D 8 0 8 P O L L BOSS – the Business Outlook and Sentiment Survey – is a statewide survey of business leaders in Hawai‘i. The 808 Poll is a survey of the general public in Hawai‘i. Both surveys are conducted twice a year for Hawaii Business Magazine by the research team at Anthology

118

AU G U S T 2 0 2 2

Marketing Group, now part of the global agency Finn Partners.

For the BOSS, a total of 396 random interviews were conducted with business owners and executives on O‘ahu, Maui, Kaua‘i and Hawai‘i Island from April 13 to May 27, 2022. A sample of this size has a margin of

error of plus or minus 4.92 percentage points with a 95% level of confidence.

A secondary goal of the survey was to complete interviews with business leaders who describe their companies as deriving relatively significant proportions of their revenues from

the retail industry. A total of 64 were surveyed in this segment.

In the 808 Poll, 444 members of the general public were surveyed from April 22 to May 8, 2022. The margin of error for a sample of this size is plus or minus 4.65 percentage points with a 95% confidence level.

THE BOSS SURVEY & 808 POLL

BOSS OPTIMISM INDEX Optimism Index measures business leaders’ expectations about the local economy over the coming year. 35% believe things will improve; 35% believe they’ll stay the same; and 29% believe things will worsen. Expectations of the future help guide business decisions in the present.

Down from a Year Earlier, But High by Historical Standards

Pre-Pandemic Peak 150 125

131 125

121

116

116

119

109

100

82

114

95

75 50 25 0 OCT 2017

APR 2018

NOV 2018

MAY 2019

OCT 2019

APRIL 2020

NOV 2020

APR 2021

OCT 2021

MAY 2022

Index started at 100 in 1998.

Business leaders were asked which statement best describes their companies’ spending plans for the coming year.

OCT 2019

20%

53%

NOV 2020

THIS SURVEY

100% confident

40%

54%

Fairly confident

30%

28%

THIS SURVEY

Substantial increase in spending on 20% capital or other items No substantial cost cutting and no substantial spending increases

H OW C O N F I D E N T A R E YO U TH AT YO U R C O M PA N Y W I L L S TI L L B E I N B U S I N E S S TH R E E Y E A R S F R O M N OW ?

53%

More cost cutting

20%

23%

dnk*

7%

4%

The results of this survey were almost identical to the results of the October 2019 BOSS Survey, when the local economy was strong.

Somewhat worried

18%

13%

Very worried

11%

5%

dnk*

1%

0%

The results are more optimistic than a year and a half ago. But in this survey, companies with fewer than 10 employees were most lacking in confidence: 21% were either somewhat or very worried about still operating in three years. That lack of confidence drops to 2% among businesses with over 100 employees.

*dnk: Did not know or did not answer H AWA I I B U S I N ES S

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THE BOSS SURVEY & 808 POLL

WHAT I S TH E CON DITION OF YOU R BUS I N E S S?

PA R T I I

The owners and executives of businesses with fewer than 10 employees were most likely to say “barely surviving” – 18% of them said that.

Not one company with over 100 employees gave that description.

IS YOUR COMPANY FLOURISHING OR BARELY SURVIVING?

BUSINESS LEADERS IN APRIL 2021

Flourishing Bruised but on track

51%

Barely surviving

WH AT A R E YO U R CO M PA N Y ’ S PROS PEC T S OVE R TH E N E X T T WO Y E A R S ?

APRI L 2 02 1

20%

17%

Uncertain future

6%

Other

5%

dnk*

1%

THI S SURV E Y

16%

WE WILL CONTINUE TO FLOURISH

20%

57%

SLOW BUT STEADY GROWTH

54%

8%

A BIG REBOUND

5%

BUSINESS LEADERS IN THIS SURVEY

Flourishing

27%

Bruised but on track

52%

Barely surviving

16%

13%

DIFFICULT TIMES

16%

n/a

EXPECT BUSINESS TO CLOSE

4%

Other

0%

4%

OTHER

n/a

dnk*

0%

3%

DNK*

1%

Note: Percentages do not always add to 100 due to rounding.

Uncertain future

6%

I S IT H A R D E R T O H I R E TH A N B E FO R E TH E PA N D E M I C ?

OCT 2021

THIS SURVEY

60%

54%

32%

32% 8% Yes, it is more difficult

About the same

No, it is less difficult

6% dnk*

Yes, it is more difficult

About the same

6%

2%

No, it is less difficult

dnk*

*dnk: Did not know or did not answer 120

AU G U S T 2 0 2 2

THE BOSS SURVEY & 808 POLL

THE COSTS YOU PAY AND THE PRICES YOU CHARGE D I D YO U R V E N D O R S RAISE PRICES MORE THIS YEAR C O M PA R E D T O PREVIOUS YEARS? Two groups disproportionately suffered from big price increases by their vendors this year: • Retail companies (68% of that group).

• Neighbor Island businesses (65%).

Note: Percentages do not always add to 100 due to rounding.

D I D YO U R A I S E P R I C E S O N YO U R PRODUCTS AND S E RV I C E S ?

Raised prices quite a bit

26%

Raised prices a little

34%

Left prices the same

36%

Lowered prices

2%

dnk*

1%

39% That’s how many of the retail companies surveyed raised prices quite a bit.

55%

24% 9%

8%

Raised prices a lot more overall than usual

Raised prices just a little more than usual

Raised prices about the same as they normally do

Left prices pretty much the same level as last year

1%

2%

Overall, vendors have lowered their prices this year

dnk*

W H AT H A S B E E N TH E I M PAC T O F HIGHER GASOLINE PRICES? We asked business leaders: How have gas prices impacted your company? In a separate poll, we asked the general public about the impact of higher gas prices on their personal finances.

45% 55% 35%

24%

18% 20%

1% Severe financial harm

Mild financial harm

No effect

1%

1% 0%

Positive financial gain

dnk*

Business leaders

General public

• Only 27% of Neighbor Island companies say they were not impacted by rising fuel costs.

• Among the general public, two overlapping groups disproportionately say they have been severely harmed by high gasoline prices: people in households making less than $50,000 a year (33% of that group) and people with children (30%).

*dnk: Did not know or did not answer H AWA I I B U S I N ES S

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THE BOSS SURVEY & 808 POLL

WHAT ARE YOU R MAJOR CONCE RN S?

PA R T I I I

RETAILERS IN HAWAI‘I: OPTIMISM, BUT PLENTY OF CONCERNS Here are the survey results from 64 companies that get most of their revenue from retail sales. The BOSS Survey has asked most of these questions for a decade; in many cases, the percentage results this time set several records.

BOSS PERFORMANCE INDEX

BOSS OPTIMISM INDEX

102

108

115

114

Retail companies

All other companies

Retail companies

All other companies

The BOSS Optimism Index measures business leaders’ expectations about the local economy over the coming year: Will the economy improve, stay the same or worsen? Expectations of the future help guide business decisions in the present.

Despite a rough two years, retailers were as optimistic about the near future of Hawai‘i’s economy as the typical Hawai‘i business owner or executive.

The BOSS Performance Index measures changes in employment, gross revenue and profit before taxes at the surveyed companies in the past year.

Retail companies were more likely to have hired more people in the past year than the typical company surveyed. But retailers’ results on revenue and profit were weaker than that of other companies surveyed.

CO M PA R E YO U R H O LI DAY SA LE S I N 2 01 9 TO SA LE S I N 2 02 1 44%

37%

Holiday sales were up

42%

36%

22%

2019 holiday sales 2021 holiday sales

15% No change in sales

Holiday sales were down

4%

0% dnk*

For many retailers, the holiday season is the most important time of each year.

In this survey, 42% said holiday sales were down in 2021, the largest proportion recorded in more than a decade of similar survey questions.

Retailers could choose as many as apply.

RENT AND OTHER OPERATING COSTS

35%

50%

April 2020

This survey

COMPETITION FROM ONLINE RETAILERS

21%

46%

April 2020

This survey

FINDING GOOD EMPLOYEES

21%

40%

April 2020

This survey

COPING WITH COVID-19

64%

22%

April 2020

This survey

COMPETITION FROM BIGGER STORES

9%

11%

April 2020

This survey

PRESSURE TO REDUCE PRICES

5%

1%

April 2020

This survey

The percentage citing competition from online retailers was the highest ever recorded in the BOSS Survey: 55% of retailers on O‘ahu mentioned that, but only 30% of Neighbor Island retailers.

*dnk: Did not know or did not answer 122

AU G U S T 2 0 2 2

THE BOSS SURVEY & 808 POLL

HOW HAVE YOU CHANG E D S I NCE TH E START OF TH E PAN DE M IC? Retailers could choose as many as apply.

Added inventory

40% No changes

DO YOU S E LL ON LI N E?

66% YES, WE HAVE A WEBSITE THAT SELLS TO CONSUMERS

34%

That’s the highest proportion of retailers ever in the BOSS Survey. In fact, 9% of the retailers surveyed were online only, with no brick-and-mortar store.

Added online shopping or made major upgrades to online shopping

31% Added staff

17%

W H AT I S TH E C U S TO M E R M I X O N YO U R W E B S ITE ?

Major changes in the products we carry

The results are a composite, but note the small sample size: 42 retailers.

16%

9.7%

Other

Major improvements to brick-and-mortar store

59.6% Hawai‘i residents

16% Enhanced the “Made in Hawai‘i” aspect of our business

30.7%

12%

Mainland residents

Added locations

These same retailers were asked what impact internet sales had on their companies.

6%

36% DI D YOU R N U M B E R OF CUSTOM E RS GO U P OR DOWN? Another BOSS record: 38% of the retailers reported fewer customers in the past year – the largest percentage that responded that way ever.

Not important at this time 2020

THIS SURVEY

46%

INCREASED

36%

26%

STAYED THE SAME

22%

27%

GONE DOWN

38%

0

DNK*

3%

Note: Percentages do not always add to 100 due to rounding.

19%

Not that important but growing

16%

Major part of the business

30% Significant but not major

Note: Percentages do not always add to 100 due to rounding.

*dnk: Did not know or did not answer H AWA I I B U S I N ES S

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THE BOSS SURVEY & 808 POLL

PA R T I V

COMPARING BUSINESS LEADERS AND THE PUBLIC We asked about education, tourism, remote work, the minimum wage and other important topics

WHAT I S YOU R RE MOTE WORK POLICY COM PARE D WITH PRE - PAN DE M IC?

DO YOU APPROVE OF TH E PL AN N E D I NCRE AS E I N TH E M I N I M U M WAG E?

We asked business leaders about their companies and the general public about their workplaces.

The surveys were conducted over several weeks. In many cases, the interviews came before the law’s final approval at the Legislature and all came before the governor signed it into law.

Business leaders

60%

20%

12%

A bit less inSame amount person work A lot more of in-person and a bit more remote work work remote work

14%

13%

2%

6%

Business leaders

dnk*

wage 82% 69% minimum increase

Approve of

We were Moved entirely entirely to remote before remote work the pandemic

7%

29% 2%

0%

3%

General public

DO YOU PL AN TO BUY AN E LECTRIC VE H ICLE? We asked business leaders whether they planned to buy an EV for the company; for the public, the question was about buying one for their own use.

Business leaders General public

71% 4% 5%

Yes, plan to purchase in the coming year

16%

38%

Yes, will purchase eventually

Disapprove dnk*

18% 0

Among the general public, support for the higher minimum wage was greatest among people who live in households where the annual income is below $50,000; 90% of that group approved.

61% Note: Percentages do not always add to 100 due to rounding.

General public

2%

50% 9%

No plans to purchase an electric vehicle

6%

Already own an electric vehicle

*dnk: Did not know or did not answer 124

AU G U S T 2 0 2 2

THE BOSS SURVEY & 808 POLL

WHAT ’S YOU R OPI N ION OF TH E JON E S ACT ?

Business leaders and members of the general public were asked: “The Jones Act restricts shipping between the U.S. and Hawai‘i to U.S.-owned and -operated companies using American-built ships and American crews. Are you familiar with this law?”

BUSINESS LEADERS

1%

WHAT ’S YOU R VI S ION FOR HAWAI ‘ I TOU RI S M I N 202 2 We asked this question in both surveys: “The peak year for Hawai‘i tourism was 2019, with 10.42 million visitors. In 2021, 6.78 million tourists came. What best describes your vision for Hawai‘i tourism in 2022?”

16% Seek fewer than 7 million tourists a year

29%

4%

0

dnk*

dnk*

27% Seek fewer than 7 million tourists a year

Aim for about 7 million tourists, about the same as 2021

28% Aim for about 7 million tourists, about the same as 2021

55%

dnk*

Yes, familiar

44%

Not familiar

GENERAL PUBLIC

BUSINESS LEADERS

GENERAL PUBLIC

41%

Yes, familiar

59%

Not familiar

Next, those respondents in both surveys with awareness of the Jones Act were asked which of these options best mirror their own views of what should happen to this law.

BUSINESS LEADERS

32% Scrapped entirely 57% Modify 10% Remain unchanged 2% *dnk

28%

23%

Aim for about 10 million tourists, same as 2019

Aim for about 10 million tourists, same as 2019

24%

22%

No limit on tourism arrivals

No limit on tourism arrivals

Among the general public, 28% of men supported no limits, while 17% of women held the same view.

People in both surveys were then asked: “There is a lot of public pressure to charge tourists more money to help fund spending on Hawai‘i’s environment, such as beaches, hiking trails and coastal waters. Do you believe tourists should be assessed some sort of environmental fee in the form of a higher hotel room tax or other assessment?”

79%

GENERAL PUBLIC

Business leaders General public

64%

38% Scrapped entirely 49% Modify

34% 21%

13% Remain unchanged 0 *dnk Note: Percentages do not always add to 100 due to rounding.

2% Support an environmental fee

Oppose

0 dnk*

*dnk: Did not know or did not answer H AWA I I B U S I N ES S

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THE BOSS SURVEY & 808 POLL

HOW DO YOU FE E L ABOUT TH E GOVE RN M E NT ’S RE S PON S E TO TH E PAN DE M IC? BUSINESS LEADERS STATEWIDE

BUSINESSES ON O‘AHU

34%

38%

58%

57%

Rules were too strict

Rules were just about right

Rules were not strict enough

7%

NEIGHBOR ISLAND BUSINESSES

GENERAL PUBLIC STATEWIDE

26%

22%

61%

63%

11%

5%

GOVE RN M E NT AS S I STANCE DU RI NG TH E PAN DE M IC Business leaders in the BOSS Survey were asked if their companies received any government assistance since the beginning of the pandemic, such as funds from the CARES Act.

62%

35%

3%

Yes

No

dnk*

The 256 businesses that received government assistance were asked which of these statements best describes their current status with the assistance program.

16%

13%

11%

Have already paid all or most of it back

*dnk

1%

2%

0

Among the general public, two groups were more likely to believe rules were too strict: • 27% of men (vs. 17% of women).

• 36% of whites (vs. 12% of Japanese Americans and 15% of Native Hawaiians).

0

Have paid back less than half of the money at this point

61%

4%

7%

Business leaders General public

Have paid back just a little of the money received

Note: Percentages do not always add to 100 due to rounding.

5%

Have not paid it back yet but will need to pay back all or most of the money

Not required to pay it back

dnk*

HOW ARE YOU R PE RSONAL FI NANCE S S I NCE TH E PAN DE M IC

WHAT ABOUT YOU R CH I LDRE N ’S EDUCATION DURING THE PANDEMIC?

BUS I N E S S L EADER S

This question was asked of all of the survey’s business leaders and members of the general public who have school-aged children: that’s 90 and 132 people respectively.

GE NE RA L P UBLI C

7%

MUCH BETTER THAN BEFORE THE PANDEMIC

7%

22%

SOMEWHAT BETTER

14%

38%

ABOUT THE SAME

45%

24%

SOMEWHAT WORSE

26%

9%

MUCH WORSE

8%

Among the general public, 19% of those living in households making less than $50,000 a year are much worse off. Among those in households making more than $100,000 a year, only 2% are much worse off.

48% 37% 25%

31%

37% 13% 1%

Children continued to learn at an appropriate level

Children fell behind during the pandemic

8%

Children fell substantially behind

Some of my children did well and others did not

Business leaders

General public

*dnk: Did not know or did not answer 126

AU G U S T 2 0 2 2

B I Z X :

A DV I C E

F R O M

E X P E R T S

Paused

Business Interruption Insurance Covers Unexpected Loss of Income

PHOTO: GETTY IMAGES; PHOTO ILLUSTRATION: KELSEY IGE

W HEN A DISASTER FO RC ES a business to close its doors,

the lost income can quickly put the company’s finances in the red. Without a steady income, a temporary closure could become permanent.

Business interruption insurance, also referred to as business income coverage, adds important protection against many common causes of disruption.

HOW DOES IT WORK?

Business interruption coverage is purchased as part of a commercial property insurance policy or business owner’s policy and helps to protect owners if their business operations are disrupt-

ed due to a covered peril. Disruptions covered by these policies typically include theft, fire and wind. Business owners should review their insurance policies with their agents to understand which perils are covered.

Business interruption claims payouts can be used for a range of expenditures including lost income and regular operating expenses. Most policies are structured to cover a “period of restoration,” which refers to the length of time the policy will help pay for lost income and expenses while the business is being restored. While policies typically limit this to 30 consecutive days, endorsements can extend that time.

It can take longer than expected to return to business as usual after a disaster so it is crucial to have high enough limits to cover extended periods of interruption.

WHAT ABOUT CYBERATTACKS?

A modern area of concern is cyberattacks. According to last year’s Internet Crime Report from IC3, the FBI’s Internet Crime Complaint Center, 2021 saw an unprecedented surge in cyberattacks, with more than $49.2 million in losses nationally. A cyberattack can render computers, cash registers and other essential systems unusable, forcing businesses

to pause operations until the problems are fixed.

Business interruption losses tied to cyberattacks may be excluded from business interruption coverage that is linked to a commercial property insurance policy. However, coverage is available through cyber liability insurance.

DO YOU HAVE ENOUGH COVERAGE?

Don’t wait for a disaster to happen: Business owners should check with their insurance agents to ensure they have business interruption coverage.

If coverage is already in place, verify the limits are high enough and check for any exclusions to determine whether additional endorsements are needed.

THIS MONTH’S EXPERT:

KEVIN KUROSU, VP OF COMMERCIAL UNDERWRITING, FIRST INSURANCE CO. OF HAWAII

H AWA I I B U S I N ES S

127

DIFFICULT

TRADE -OFFS

Sea Level Rise Intensifies Debate Over How Hawai‘i Uses Its Coastlines A UH report asks decision-makers: What are the most important values and uses for the oceanfront as the sea continues to rise?

BY JA NIS M AG IN M E I E R D IER C K S

sion about the most important things to preserve from the advancing ocean. Private real estate values? Ecological conditions? Nearshore recreational opportunities and family gatherings?

The issue has been put at center stage by three recent developments:

• A report by five UH Mānoa scholars called “Managing for diverse coastal uses and values under sea level rise: perspectives from O‘ahu, Hawai‘i,” published in the June 15 issue of the journal Ocean & Coastal Management. A blog post summary of the report was published on the website of UHERO, the UH Economic Research Organization.

• The collapse in February of a beachfront house on Ke Nui Road, near Sunset Beach, plus the sea’s encroachment elsewhere in Hawai‘i and how owners are trying to protect their properties with sea walls and more.

• A new state law that took effect in May that requires sea level rise exposure be added to routine flood mitigation disclosures when homes are sold. The disclosures are to be based on projections on the state’s online Sea Level Rise Viewer.

The new disclosures are on top of an oceanfront addendum Realtors can use for purchase contracts, says Realtor Anne Hogan Perry of Compass.

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AWARENESS BY BUYERS AND SELLERS

Most prospective buyers and sellers are aware of how climate change impacts beachfront properties, Perry says.

However, the state’s online map – which forecasts the areas that may be underwater at sea level rises of 6 inches, 1.1 feet, 2 feet and 3.2 feet – brings a new perspective on the potential future.

“What is a surprise, what is a shock, is the map,” Perry says. “I think that is more of a shock in that they get that it is happening, but they may not necessarily get how traumatic it is.”

For example, the map shows that every multimillion-dollar beachfront property in Honolulu’s tony Kāhala neighborhood has at least some exposure to sea level rise of just 6 inches.

But when the level is 3.2 feet, half or more of some entire lots are exposed.

The online Sea Level Rise Viewer shows similar impacts around the Hawaiian Islands.

PRIORITIES AND COMPETING VALUES

So the UH research team wanted to see how decision-makers viewed the competing priorities when dealing with sea level rise.

Here’s how the researchers described their method: “Our interdisciplinary team interviewed and surveyed 42 civil society, government and the private sector representatives involved in coastal decision-making in Hawai‘i. We grounded our conversations around three distinct

coastal areas on O‘ahu: Kāhala, Ka‘a‘awa and Sunset Beach.”

They asked three questions: • What uses and values of the beaches and coastlines do you identify as currently important for coastal communities and stakeholders?

• Ideally, which uses and values do you see as shaping decision-making around adaptations to sea level rise?

• What conflicts are emerging over such uses and values?

PHOTO: GETTY IMAGES

THE SEA IS RISING and so is the discus-

CURRENT USES AND IDEAL USES

The results of the report are not surprising when it comes to current uses and values of coastlines for the three areas: nearshore recreation was rated No. 1 for Sunset Beach, onshore subsistence was tops in Ka‘a‘awa and real estate value was paramount for Kāhala.

“However, when it comes to what respondents think should ideally be prioritized in decision-making, respondents, on average, push ecological func-

tions, habitat, spiritual and cultural values to the top in all sites. In contrast, real estate value was given the lowest priority across all sites, including for Kāhala.”

The report also acknowledged conflicts over some of the steps property owners have taken to maintain beaches, including sea walls. While some of the people interviewed by UH said the new law would change property owners’ expectations about their ability to protect the beach, others felt that sea level rise would make conflicts worse because as

some beaches disappear, other beaches would become more crowded.

Meanwhile, the new law will at least help to educate homeowners and prospective buyers before they buy.

“I think we’ve known all along that some oceanfront properties are at risk, and that I don’t think anybody’s denying the sea level rising. That’s a given,” Perry says. “I think that the disclosures are essential, and the Honolulu Board of Realtors and most of us have taken a very strong stand.”

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Adaptive Surfing Goes Global

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LOCATION: QUEEN’S SURF BREAK, WAIKĪKĪ

AccesSurf’s Ann Yoshida, left, a training specialist and the only adaptive athlete inducted into the Hawaii Waterman Hall of Fame, and AccessSurf Executive Director Cara Short helped run the 2022 Hawai‘i Adaptive Surfing Championships in June.

It was the largest field yet for the annual Waikīkī event, which hosted 100 athletes from 17 countries, including 22 from Hawai‘i. The event was the initial stop of the firstever adaptive surfing world tour.

PHOTOGRAPHER: AARON YOSHINO

Founded in 2006, AccesSurf also hosts free ocean programs for anyone, of any age, with any kind of disability. “The core of what we’re doing is creating a truly inclusive community,” says Short.

Its signature event is Day at the Beach, which draws 50-70 participants and 150 volunteers to White Plains Beach and other spots to enjoy swimming, floating and surfing. accessurf.org

SPECIAL PROMOTIONAL SECTION

Kūpuna Care, One Volunteer at a Time M A U I N O N P R O F I T N Ā H O A L O H A H E L P S K E E P S E N I O R S H E A LT H Y A N D I N D E P E N D E N T , M AKING IT E ASIE R TO AGE IN PL AC E WE LL .

Nā Hoaloha volunteers help support aging seniors with the assistance they need to stay healthy and independent.

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Helen (name changed for privacy) was diagnosed with a serious but treatable cancer—a spot on her kidney.

Her oncologist prescribed her a mix of radiation treatment and chemotherapy that would require her to visit the Pacific Cancer Institute at Maui Memorial Hospital every day for four weeks. Helen lived miles away, without a car, couldn’t access public transportation due to the COVID lockdown, and couldn’t afford to take a taxi every day. She became frantic; she thought there was no one who could help her.

Fortunately, volunteers with Nā Hoaloha—a Maui grassroots organization that provides support services to seniors and homebound individuals with disabilities—coordinated with the cancer center to provide Helen with a ride to and from her treatments. If she needed additional help picking up groceries or medication, Nā Hoaloha volunteers helped with home deliveries. They would also call just to check in and make sure she was doing OK. Thanks to these

efforts, Helen was able to get treated without the added stress of figuring out transportation and other logistics.

In the Islands, our kūpuna are our fastest growing demographic. According to the Census, one in every five Hawai‘i residents will be retirement age by 2030—a trend that has already begun to strain Hawai‘i ‘ohana’s support capabilities. And, although Hawai‘i has the highest life expectancy in the United States at 81 years, it also has the highest rate of poverty in the nation for seniors, 7.6 percent of couples age 65 and older, according to University of Massachusetts Boston’s Elder Index Study. On top of this, even if all local seniors without strong family support systems could afford caregivers to assist with transportation, housework, or shopping, many still prefer to remain independent.

This is where nonprofits such as Nā Hoaloha come in. Since 1995, Nā Hoaloha has matched kūpuna with volunteers who provide essential services, including friendly home visits to offer companionship and assistance with light

housekeeping or meal preparation; wellness checks and medication reminders by phone; transportation services; and respite for round-the-clock caregivers.

“Nā Hoaloha offers many different programs that seem separate, but they’re all about keeping kūpuna safe and engaged at home without being isolated or shut away,” says Nā Hoaloha executive director King Van Nostrand. “The real beauty is the friendships that emerge.

They might go grocery shopping together or spend the day at the beach. … Some of our volunteers have been with the same seniors for 20 years.”

Nā Hoaloha is one of more than a dozen organizations in Hawai‘i dedicated to caring for low- to moderate-income kūpuna in the community with a range of services, from adult day care to meal delivery to fall prevention education, and supported by the Hawai‘i Community Foundation’s (HCF) “Kūpuna Aging in Place” Program for Elderly Services. For more than 30 years, this initiative has offered grants to local nonprofits helping Hawai‘i’s seniors lead productive, independent lives, and age in place at home, if it is in their best interest.

“Aging in Place funding allows organizations to reach more kūpuna and offer those services to the community without charging, which is critical,” says Elise von Dohlen, program director at HCF. “Issues like food security and housing are often prioritized. But addressing social isolation and emotional well-being by including seniors and making them feel connected and part of a community, that’s important too.”

I N T E R E S T E D I N G E T T I N G I N V O LV E D W I T H N Ā H OA L O H A? V I S I T N A H OA L O H A .O R G . L E A R N M O R E A B O U T A L L T H E O R GA N I Z AT I O N S S U P P O R T E D BY T H E “ K Ū P U N A AG I N G I N P L AC E ” P R O G R A M F O R E L D E R LY S E R V I C E S AT H AWA I I C O M M U N I T Y F O U N D AT I O N . O R G/G R A N T S/K U P U N A  A G I N G  I N  P L A C E

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