Hawaii Business August 2026 by aio Hawaiʻi

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CONTENTS

86 How Much Time Do You Waste Looking at Screens? The average person spends more than 5 hours a day looking at their phones, with much of that stealing time from more fulfilling or productive activities. That adds up to years of wasted time over the course of a lifetime. Trial and Error columnist Ryann Noelani Coules shares some practical ways that you can pull away from doomscrolling habits and retake control of your time.

LETTER FROM THE EDITOR

Home Is Where the House Is

Hawaiʻi and Japan: Ties That Bind

The Puʻuhonua O Waiʻanae community faces an October deadline to move its encampment of houseless residents from the Waiʻanae Small Boat Harbor to Waiʻanae Valley. Most have already made the move, a step toward the late Twinkle Borge’s wish before she died: “Bring them forever home.” Along the way, it took unique cooperation from corporate, civic, community and government leaders that could guide future efforts.

Japanese tourists have long stuffed their suitcases with Hawaiʻi products for themselves and as omiyage for friends and relatives. Now, bolstered by a dollar-yen exchange rate that makes doing business in Japan favorable, more Hawaiʻi companies are bringing their garments, trinkets and specialty items directly to the customer. We talk with business owners who are taking advantage of trade shows and sales outlets inside Japan.

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SPECIAL ADVERTISING SECTIONS

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H AWA I I B U S I N E S S

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Our goal is to strengthen the local economy and help our communities thrive. Publisher KENT COULES kentc@hawaiibusiness.com • (808) 364-5869

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PRESENTING SPONSOR:

SEPTEMBER 17, 2026 Fuller Hall - Downtown YWCA Excellence rarely begins with unlimited resources. More often, it starts with vision, determination, and a commitment to making a meaningful impact. The Hawai‘i Excellence in Business Awards celebrate organizations that embody these qualities – achieving measurable success while strengthening their employees, industries, and communities. Selected through a competitive application process, this year’s honorees demonstrate outstanding leadership, innovation, workplace culture, and community stewardship. Their stories reflect what excellence in Hawai‘i looks like today and inspire what is possible for tomorrow.

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Editorial Editor-in-Chief JENNIFER ABLAN jennifera@hawaiibusiness.com Managing Editor KEN WILLS kenw@hawaiibusiness.com • (808) 987-8135 Senior Editor STEVE PETRANIK stevep@hawaiibusiness.com • (808) 534-7584 Senior Contributing Writer CYNTHIA WESSENDORF cynthiaw@hawaiibusiness.com Staff Writer RYANN NOELANI COULES ryannc@hawaiibusiness.com Staff Writer GRANT NAKASONE grantn@hawaiibusiness.com Copy Editor ELROY GARCIA Editorial Interns LILI HURD, KIANI VIDAURRI Design & Photography Creative Director ESTHER MOHRMANN Graphic Designer CHASE NUUHIWA Graphic Designer KAREN TANIGAWA Graphic Designer GINNY WILLIAMS Staff Photographer AARON YOSHINO Digital Digital Director RANDALL LIBRAMONTE randalll@hawaiibusiness.com Digital Content Manager MARIANNE LEANO mariannel@hawaiibusiness.com Sales & Marketing Senior Account Executive YONGCHAE SONG yongchaes@hawaiibusiness.com • (808) 228-5078 Account Executive KELLY CLARK kellyc@hawaiibusiness.com • (979) 587-6410 Operations Manager REBECCA BROOKING rebeccab@hawaiibusiness.com • (808) 534-7560 Events Manager ASHLEY MCLEAN ashleym@hawaiibusiness.com • (808) 272-6550 Events Coordinator OLIVIA DE SENA oliviad@hawaiibusiness.com Circulation hawaiibusinessmag@emailcustomerservice.com

OCTOBER 23, 2026 Hilton Hawaiian Village Mark your calendars – Wahine Forum returns on October 23, 2026, at Hilton Hawaiian Village. Presented by Hawai‘i Community Foundation, this is the state’s largest leadership and career development conference for women. From established executives to emerging professionals, women across industries will come together to share real stories, build practical skills, and strengthen community. For more information on events, visit hawaiibusiness.com/events or contact Ashley McLean, Events Manager, at ashleym@hawaiibusiness.com

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LET TER FROM THE EDITOR

The Yen Flipped Who Gets to Cross the Pacific

t least one local I meet each week these days is headed to Japan on vacation. It’s not difficult to see why: The yen recently hit a four-decade low, trading near 162 to the dollar in early July. For a lot of Hawai‘i families, that’s bittersweet – decades spent fantasizing about a trip that always felt just out of reach. There’s a quieter story on the other side of the Pacific. For just as long, Japanese visitors treated Hawai‘i as an annual ritual. Now, as the same currency swing opens Japan up to Hawai‘i residents, it closes Hawai‘i off to Japanese. What happens to that ritual? How do you get your taste of the Islands when you can no longer afford to fly there? The numbers show how deep this goes. The U.S. dollar was 37.7% stronger against the yen in 2025 than in 2016 – rewriting who can afford to cross the Pacific, and in which direction. This isn’t a column about Hawai‘i tourism struggling, as statewide visitor spending hit a record $21.75 billion in 2025. It’s specifically the Japan market that’s been cut roughly in half: Japanese visitors spent $2.19 billion here in 2019, before the pandemic and well before the yen’s current slide. By 2025, that had fallen to $1.08 billion. Arrivals tell the same story: In July 2025, Japanese arrivals were down nearly 59% from July 2019, one of the steepest gaps of any market the state tracks, even as U.S. mainland arrivals had largely returned to pre-pandemic norms. It shows up in trade, too. Japan has been Hawai‘i’s second-largest export destination over the past decade, averaging $91.9 million a year. What flows from Hawai‘i to Japan says a lot – refined petroleum, apparel, bottled water, coffee – everyday goods from two economies that have long leaned on each other. The weak yen cuts both ways: Pricier for Japanese buyers of Hawai‘i goods, cheaper for Hawai‘i buyers of Japanese ones – which may explain why trade hasn’t cooled as tourism has. The real question isn’t whether Hawai‘i and Japan are still connected. It’s what that connection looks like now, for the Japanese family that used to spend every August or December in the Islands and can’t this year. Are Hawai‘i businesses finding ways to bring a piece of the Islands to them instead? For that, I’d point you to contributing writer Rachel Wagenman, who spent time with Hawai‘i companies going to Japan rather than waiting for tourists to return. One example from her story: Nina Thai, who runs the Waikīkī label Angels by the Sea Hawaii, noticed years ago how many customers were arriving from Japan, so she started showing up there

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instead, landing a spot at the Tokyo International Gift Show and becoming a regular at Osaka’s Hankyu Hawai‘i Fair. What she’s found, in Wagenman’s telling, is that Japanese shoppers aren’t just buying resort wear. They’re buying their connection to the Islands. Read her full piece for the rest from Thai and other local business owners. The irony: the same weak yen keeping Japanese families out of Waikīkī this summer is making Hawai‘i’s pitch to them cheaper to make. A plane ticket to Honolulu has gotten harder to justify. A pop-up booth in Osaka hasn’t. At the moment, that’s where the relationship is living. WAHINE OF THE YEAR

Hawaii Business Magazine names Catherine Ngo our first Wahine of the Year. She will be honored at our Wahine Forum in October. Ngo has spent more than a decade shaping Hawai‘i’s financial landscape and its culture of giving back. She joined Central Pacific Bank in 2010 as executive vice president and chief administrative officer, and in 2015 became the bank’s first female president and CEO, a role she held until 2022. She went on to serve as executive vice chair, then chair of Central Pacific Financial Corp. and Central Pacific Bank from January 2023 to June 2024, guiding the institution through recovery and growth while championing initiatives for local small businesses. Before Hawai‘i, Ngo built a career in Silicon Valley as executive vice president and general counsel of Silicon Valley Bank, and later co-founded Startup Capital Ventures, an early-stage venture firm investing across Hawai‘i, Silicon Valley and China. In October 2025, Ngo stepped down from CPB and CPF’s boards of directors, but her community work continues undiminished: she remains president and chair of the Central Pacific Bank Foundation, where she has directed millions in grants toward housing, small business support and programs like WE by CPB Rising Tide, which mentors women entrepreneurs. She also serves on the boards of Hawai‘i Gas, Maui Land & Pineapple Co. and the Federal Reserve Bank of San Francisco. Hope to see you at our fall event!

JENNIFER ABLAN EDITOR-IN-CHIEF

CELEBRATING MORE THAN 21 YEARS OF DEAN ROLEY’S VISIONARY LEADERSHIP

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HOW VANCE ROLEY TRANSFORMED SHIDLER COLLEGE ∙ $238M+ in transformational gifts – with Jay H. Shidler’s being the largest individual gift in UH history. ∙ Faculty endowments grew from six to 45, helping to attract and retain top faculty. ∙ $1M+ is awarded in scholarship support annually. ∙ The School of Travel Industry Management (TIM) rejoined in 2019. More than $1.5M has been raised for scholarships and six faculty endowments since. ∙ TIM School ranked 12th nationally and 32nd globally and 12th nationally and 18th globally for

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faculty*; also 15th nationally and 46th globally for hospitality and tourism programs.** ∙ The Walter Dods, Jr. RISE Center opened in 2023, becoming the first live-learn-work center for UH students across all 10 campuses. ∙ Approximately 500 internships are facilitated each year. ∙ 91% of graduates secure employment or enroll in advanced degree programs within three months of graduation. *2025 Shanghai Ranking **2024 Quacquarelli Symonds rankings

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TRIAL AND ERROR

Jasmine Feliciano was the first Puʻuhonua O Waiʻanae villager to move into a tiny home on their mauka property. Pictured is Feliciano standing outside her residence. Photo: Ryann Noelani Coules

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COMMUNITY

This Wai‘anae Community Had a Home but Not Housing. Soon They’ll Have Both Carrying on the mission of their late matriarch, Puʻuhonua O Waiʻanae is relocating its community from tents on state land to housing on purchased property. They have until Oct. 16 to complete the move and clean up their former site. by R YA N N N O E L A N I C O U L E S

t was an audacious idea that brought together public officials, civic leaders, corporate donors and activists alike: pool resources, chip in expertise, donate houses, tents and labor, build roads and set up electricity to create a community where some 200 people without houses could relocate from an encampment of makeshift shelters and tents. An informal public-private partnership that evolved organically, the project is nearing an Oct. 16 deadline to move the remaining 25 or so people from Pu‘uhonua O Wai‘anae near the Wai‘anae Small Boat Harbor to live in tiny houses 2.4 miles up the road in Wai‘anae Valley. The 19.5 acre site was purchased in 2020 with $1.4 million raised by the nonprofit offshoot Dynamic Community Solutions, including donations from individuals and companies alike – all with implications for future models to address houselessness. “We’re doing something so unbelievable,” Twinkle Borge, the community’s beloved advocate and leader, told me in August 2023, a year before she died. She had been the driving force to create a self-governing structure and rules within the encampment. Following complaints from neighbors and after pressure from the city and state to move away from the harbor, Borge helped negotiate terms of the community’s relocation. “We never thought that we could raise $1.4 million [to buy the parcel of land], but we did,” she said then. “It took us time, but we did.”

Two years after the loss of their leader, the Pu‘uhonua O Wai‘anae community is working to fulfill Borge’s final wish: “Bring them forever home.” She won’t see the project’s finish line, but others have picked up the reins. All told, some $10 million in cash, grants, construction, donated labor, material and services has been poured into the project. Although that includes some federal funds and local officials lent assistance, most credit the community with being the driving force. “It’s amazing to see that a group can come together and can organize themselves and their finances in a way to be able to purchase property, to be able to say this is going to be a place where we are going to call our future home, and they’re taking major steps in that direction, and it’s really encouraging to see that they’re there,” says Jun Yang, the governor’s homeless coordinator at the Statewide Office on Homelessness and Housing Solutions. “As an administration, we want to see it succeed, and so when they contacted the state, I think that the departments and those involved have been trying to figure out how to make this work, because we’ve been wanting to see a successful transition from the site.” Yang says Gov. Josh Green’s meetings with Borge while he was still Lieutenant Governor helped shape the Kauhale Initiative, a concept built around modest private units, shared amenities and communal accountability.

H AWA I I B U S I N E S S

Although the creative and pioneering approach has parallels with the Community First! Village in Austin, Texas, which Green toured in 2018, Hawai‘i’s efforts to address the intractable problem of homelessness are shaped by its unique Hawaiian history. Pu‘uhonua O Wai‘anae had tendrils reaching back to ancient Hawaiian customs but is rooted in the very modern byproduct of capitalism that leaves some without jobs, a social safety net and homes: create a place of refuge – pu‘uhonua – where those in need can live, build community, regroup and set out again into society. The plan required concerted efforts on many fronts. In February, U.S. Sen. Brian Schatz of Hawai‘i secured $2 million in federal funding to build out critical water, sewer and road infrastructure at the valley site. The $10 million total also includes a $300,000 Grant-in-Aid from the state and a $400,000 forgivable loan from Hawaiian Community Assets, according to Dynamic Community Solutions founder and president James Pakele. Pakele credits a targeted capital campaign committee for raising the remaining balance from private charities and individual donors. The funds went a long way thanks to a massive network

of pro bono labor and donated materials. While Pa‘aluhi Builders served as the primary contractor for the tiny homes, Royal Construction handled the infrastructure and road work, and Trinity Management oversaw project management and construction scheduling. Critical design and engineering work came entirely pro bono from architecture firm G70, civil engineer Craig Arakaki and architect Andrea Aegerter. Foundations Hawaii secured material donations and provided free labor for the first phase of foundations, while the National Guard pitched in during two separate multi-month deployments to assist with infrastructure and secondary foundations. Private sector partners also stepped up to build individual structures. AC Kobayashi donated the labor for Borge’s house before her death, while HomeAid Hawai‘i, Hale Partners, S&G Construction and Prometheus Construction provided specialized building support. Pakele says many others also contributed service, products and labor. “The community-based self-help model that was inspired by Twinkle Borge was an alternative to government-sponsored stopgap solutions for the homeless population,” says Bob Bruhl, president of

In addition to tiny homes, the mauka village features shared amenities such as communal kitchens, bathrooms and laundry areas, like the kitchen space pictured here. Photo: Ryann Noelani Coules

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Tradewind Capital, who helped coordinate business community involvement. “It’s meant to be a model of one solution that’s needed in a host of many to attack the larger issue at hand. … Hopefully it inspires others to realize that, why not again? Why not them, and the government, too, to get behind initiatives like this?” WORKING WITH THE STATE

The state, which owns the harbor property, has supported the effort by granting the village a grace period to build infrastructure, relocate residents and restore the original site rather than resorting to a forced eviction. An initial deadline of November 27, 2025, was delayed to April 30, 2026. Following the devastating aftermath of the Kona low storms, that date got pushed back again to June 25, 2026. In mid-June, Pu‘uhonua O Wai‘anae requested one more extension, which the state granted, setting the final deadline for October 16, 2026. Not everyone was happy with the delay, however. Following that extension, Sen. Samantha DeCorte (R-District 22) criticized the delay: “The land was purchased years ago,” she said at a press conference. “The transition plan has existed for years.

The deadlines have come and gone. The resources are available. It’s time to go.” In June, the Pu‘uhonua O Wai‘anae Overseers Council, which includes Borge’s nephew Kala Paishon, highlighted its efforts toward meeting its commitment: “Using our own labor, vehicles and machinery, and bins paid for through our nonprofit, we have removed more than 60 dumpsters, 35 cubic yards each, for an estimated total of 300 tons of trash from the Harbor property at no expense to DLNR [Department of Land and Natural Resources] or the state. That work continues.” Acting DLNR Chair Ryan Kanaka‘ole stresses that Pu‘uhonua O Wai‘anae’s achievements were self-driven rather than led by the government. “POW long operated as a place of refuge and collective responsibility, rather than an encampment of houseless individuals,” he says. “Their willingness to collaborate, to acquire land on their own, and remain together as a self-governing village can certainly be emulated by others. However, I don’t currently see this as a model that can be adopted by government to address houselessness. It appears to work best when people are willing to do the work for themselves.” A RACE TO MEET THE FINAL DEADLINE

With the clock ticking, Pakele of Dynamic Community Solutions ordered an additional 30 pop-up units from China to ensure every resident has housing in time. These Continest units take about 90 days to ship to Hawai‘i but can be assembled in just 50 minutes – a fraction of the time it takes to build traditional tiny homes. Pakele says about two dozen residents may need additional time until their units arrive. “So it’s an extension,” Pakele said, “but it’s an extension for a very small amount of people until the units get here... [which] are already ordered and paid for.” Pakele notes that while the long-term goal is to provide permanent tiny homes for everyone who wants one, the immediate priority is simply getting a roof over everyone’s head. “If we get more funding to build out more permanent structures, then we’ll do that, and that’s awesome, but that can be a long-term goal,” he explains. In the meantime, the pop-up units get “everybody a

roof that is not a tent, and it gets them off of the state property, and it gets them onto our property.” Unlike permanent tiny homes, which are designed for single occupants or couples, the pop-up units offer flexibility – they can easily be linked together to create larger living spaces for families. LIFE IN WAI‘ANAE VALLEY

Jasmine Feliciano was the first resident to move to the valley in 2021. She says she became houseless at 17 after her grandfather died and her grandmother abandoned her, so she started “living at Wahiawā District Park, fending for myself.” In 2014, her cousin invited her to live with him at the harbor. At the time, Feliciano was struggling with addiction. But when her cousin introduced her to Borge, everything changed. “That lady saw right through me,” she recalls with tears in her eyes. “She could see me going downhill. She’s the one that gave me a purpose.” Borge entrusted her with a leadership position at the village, which motivated Feliciano to turn her life around. “I stopped doing what I was doing,” she says and has been sober ever since – going on eight years. Because Feliciano had a background in construction, she helped clear the raw land after the nonprofit purchased it. “I would come up every day from down there and work. Build whatever that lady wanted,” she said, noting she built tables, framed overhead covers, and handled the caulking and painting. Borge took notice of her commitment. “I guess she saw that I was putting in the work. She asked me, ‘Are you ready to

come home?’ And I looked at her, ‘Like in a house?’ She said, ‘Yeah, I have a unit ready.’” She jumped at the offer. “So that very same night, I started moving myself, and then came back the next morning, cleared my camp, because Mama [Borge’s nickname] always said, when you move, you clear your home. We all clean our own. So that’s what I did.” As more residents have joined her in recent months, Feliciano has spent a lot of time talking her new neighbors through the transition. “They had their doubts at the beginning,” she said, “but as they stay [here], they say, ‘Wow, you’re right.’ I say, ‘Yes, of course it’s better than staying in a tent.’” Beyond offering fortified shelter, the new location boasts several amenities that were completely unavailable at the harbor. These include communal laundry areas, kitchens and bathrooms equipped for full plumbing and electricity – though work is still underway to connect the entire village to the grid and utility lines. At the harbor, residents are limited to designated times at the public outdoor showers built for boaters – facilities that offer no walls for privacy and only dispense cold water. In the valley, they have access to curtained stalls with reliable hot water. “We have water up here, we have electric, we have an ice machine,” says villager Kalala Kalua. “You know that our residents love that because the Wai‘anae sun hits different.” For Feliciano, the greatest upgrade is security. At the harbor, she explains, you were “always being worried that somebody’s gonna go in your tent” and steal your belongings, forcing you to “start over from scratch. ... Up here, you can lock the doors and feel safe.”

H AWA I I B U S I N E S S

Pakele notes that rent for each unit – which is primarily built for a single occupant or a couple – is $250 per month, including utilities. Because the nonprofit bought the land outright, they do not need to worry about paying off a mortgage, nor is there a landlord trying to turn a profit. According to Pakele, that $250 purely covers operational costs, like “electric, water, maintenance fees and insurance that we got to make.” Paishon estimates that 70% of Pu‘uhonua O Wai‘anae residents have jobs, while a good portion of the remaining 30% are elderly, disabled, children or dealing with mental illness. While most residents should be able to cover rent through their paychecks, Social Security or disability benefits, the village has a built-in safety net for those who struggle to find the funds. Mirroring the rules at the harbor, the valley village requires residents to complete eight hours of mandatory community service each month. “If you go over your eight hours, then that can go towards your rent,” Feliciano explains. “We try to work with our people that don’t have income, so that way they’re not stressing.” ‘IT’S BITTERSWEET’

Although residents generally look forward to the upgraded features of the new village, many are reluctant to leave the harbor. “For a lot of people, it’s bittersweet. And it takes a little bit of trust,” Pakele says. “A lot of the folks that we work with, they’ve been let down so much over the years, so many times they’ve been like, ‘could this be true?’ and then rug pull.” He says some residents need extra reassurance that “you’re not going to get rug pulled” this time. It’s also hard for them to let go of living at the harbor because Borge so effectively built a community there that feels like home for the villagers. “Someone who’s been here 15 years, you think it’s easy for them to uproot all the memories that they’ve built here?” asks Paishon. He emphasizes the trauma of being forcibly removed from spaces that houseless people so often face. “I don’t like using the word sweep, I’d rather use removal, because growing up as a child, when my

parents go ‘sweep that up,’ it would mean the trash on the ground or the ‘ōpala that’s left behind,” Paishon explains. Paishon prefers gentle nudges over a heavy-handed approach. “I understand people are afraid to move because they cannot let go of the memories here,” he says. “But it’s okay. You gotta go.”

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Until Borge’s vision is fully realized, Paishon offers words of encouragement to his neighbors hesitant to take the leap: “The greatest thing about moving up there is we can make more memories, and I’ll be right there beside you.”

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HAWAI‘I BRANDS, WITH YEN ON THEIR SIDE, SEEK OPPORTUNITIES IN JAPAN

Tapping long cultural ties and a favorable exchange rate, some Hawaiʻi businesses see new promise in Japan’s home market.

by R A C H E L WA G E N M A N Illustration by G I N N Y W I L L I A M S

H AWA I I B U S I N E S S

J A PA N M A R K E T

h i l e Ja pa n e s e tourists and businesses feel a currency pinch that makes Hawai‘i prohibitively expensive, the flip side of the coin makes Japan attractive for companies in the state to extend their reach across the ocean. Hawaii Business Magazine talked with local companies about the challenges and opportunities of reaching customers in Japan. Hawai‘i and Japan have long had deep cultural and economic ties. Japanese arriving in Hawai‘i find many cultural influences in the Islands, which counts about 17% of its population as ethnic Japanese, a number that is significantly higher when including those with mixed ethnicity. Japanese first started coming in the early 19th century and were heavily involved in the Islands’ sugar industry. For decades, Japan has been the top foreign source of tourists to the Islands, interrupted in recent years by Covid and the sliding value of the yen currency against the U.S. dollar. According to state and federal data, Hawai‘i businesses generate $61 million annually in direct merchandise exports to Japan, but their total financial footprint is overwhelmingly driven by Japanese visitor spending in Hawai‘i, which historically reaches up to $2.3 billion. Despite a 15.6% year-on-year uptick in Japanese visitors and spending in May, according to the Hawai‘i Department of Business, Economic Development and Tourism (DBEDT), visitor numbers remain well below pre-pandemic levels. But that lopsided exchange rate, with the yen near 45-year lows, has created opportunities for Hawai‘i-based companies in Japan. For many Hawai‘i businesses, Japan remains a place to build relationships, reach new customers and offer Japanese consumers a closer connection to Hawai‘i. We caught up with several Hawai‘i companies that are reaching across the sea via trade fairs or even brick-and-mortar shops in Japan, to learn more about their experiences. ANGELS BY THE SEA HAWAII

Nina Thai, owner and designer of Honolulu-based fashion brand Angels by the Sea Hawaii, launched her company

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in 2010 with a simple stated goal: to create beautiful resort wear for women to feel happy, confident and comfortable. After opening her first retail location in Waikīkī, Thai set out to share the aloha spirit with people from around the world. As the business grew, she noticed that many of her customers were visiting from Japan. Intrigued by their connection to Hawai‘i and enthusiastic response to her designs, Thai began exploring opportunities in the Japanese market through pop-up events. “I saw how much they love Hawai‘i and how much they respect the culture,” Thai says. “It made me want to create a rainbow bridge between Hawai‘i and Japan.” With the help of DBEDT, Thai has participated in the Tokyo International Gift Show as part of the Made in Hawai‘i Pavilion alongside other Hawai‘i businesses. Widely regarded as Japan’s largest trade show for gifts, household goods and lifestyle products, the event draws more than 200,000 buyers each year, providing Angels by the Sea Hawaii with valuable exposure. In 2016, Thai was invited to participate in the Hankyu Hawai‘i Fair, an annual week-long event at Hankyu Umeda in Osaka. Held at the luxury retailer’s flagship store, the fair attracts more than 130,000 shoppers each year. She has returned every year since, viewing each trip as an opportunity to deepen relationships with customers while steadily growing the brand’s presence in Japan. Over time, she learned that Japanese consumers are especially drawn to exclusive, limited-edition merchandise. That insight led to a number of collaborations, including collections with Japan’s Hanshin Tigers baseball team and Halekulani Okinawa. “The Japanese market is really loyal when they understand your brand,” Thai says. “The biggest brand is Hawai‘i. They love Hawai‘i so much—they’re buying the connection, not just a dress.” Thai remembers a Hankyu Hawai‘i Fair shortly after the pandemic, where a mother and daughter visited the pop-up together despite both dealing with their own health challenges. The daughter shared that her mother had largely stayed at home in the years following the pandemic and only decided to come out after hearing that Thai and Angels by the Sea Hawaii would be there.

“I was speechless,” Thai says. “That’s the moment I realized it’s my mission to share the spirit of the Islands through fashion and build lasting relationships.” Thai is not alone in finding success through Hawai‘i-focused events in Japan. With support from DBEDT, a number of local businesses have used trade shows and Hawai‘i fairs to introduce their brands to Japanese consumers and strengthen ties in the market. TEN TOMORROW

Ten Tomorrow, a modern Hawai‘i resort wear brand, first participated in the

Hankyu Hawai‘i Fair in 2020. Owner and designer Summer Shiigi says the event provides an important connection to a customer base that feels deeply connected to the Islands. “We’ve met so many wonderful people. It’s something we look forward to every year,” Shiigi says. “While the majority of our customers are based in Hawai‘i, there’s such a huge community of people in Japan who love Hawai‘i and may not get to visit as often, so these shows help them stay in touch with our culture.” This year, Shiigi traveled to Japan to participate in the 10th Hawai‘i Fair at JR Nagoya Takashimaya in June, which

featured more than 50 vendors, and Osaka’s Hankyu Hawai‘i Fair in July, an event Ten Tomorrow has joined for the past five years. Recognizing the appeal of exclusive merchandise, and the need to stand out among the many Hawai‘i brands featured at these events, Shiigi debuted her new Wild + Free Collection in Nagoya before launching it anywhere else. The collection features a custom print created in collaboration with Hawai‘i island graphic designer Traci Yoshiyama. “Japan reminds me a lot of Hawai‘i in the sense that they enjoy learning about the brand, owner, philosophy, and when something resonates with them, it builds

a loyal customer base,” Shiigi says. “It’s definitely a slow growth pace, but it always feels so meaningful.” UA HAWAI‘I

UA Hawai‘i has found similar success while doing business in Japan over the last several years. Through its participation in the Hankyu Hawai‘i Fair, the fragrance and body care brand has found that Hawai‘i-themed events consistently attract an engaged audience. “The Japanese market is definitely something we’re very interested in growing,” says co-founder Leala Humbert. “We

Nina Thai, owner and designer of Angels by the Sea, at the 2026 Hankyu Hawai‘i Fair in Umeda, Osaka. Photo courtesy of Angels by the Sea

H AWA I I B U S I N E S S

Leala Humbert and Blaine Kusler, co-founders of UA Hawaiʻi. Photo courtesy of UA Hawaiʻi

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found the most success doing Hawai‘i fairs and Hawai‘i pop-ups because people who are interested in Hawai‘i go to those very regularly.” While UA Hawai‘i closed its Osaka location in 2025, the company continues to do business in Japan. This year, it transitioned its Nagoya store with its business partner to feature both Hawai‘i-made products and locally made goods from Okinawa – a move Humbert says reflects the natural connection many customers see between the two island destinations. Humbert believes Japanese consumers are drawn not only to the products themselves, but also to the stories behind them. “If you can tell a story about your product that connects to its authenticity and groundedness, it hits a heartstring for them,” she says. “I think that’s probably why they are so interested in Hawai‘i and products from Hawai‘i because of this story of authenticity.” That connection was on display at a recent Hankyu Hawai‘i Fair, where UA Hawai‘i introduced its Pakalana fragrance. “I saw people swarming the booth for it. I hadn’t experienced a launch like that ever with my own products,” Humbert says. “A lot of them were very new to our brand, but they were all so intrigued about this fragrance that I love. My enthusiasm was contagious enough that they were all excited too.” UA Hawai‘i’s evolving presence in Japan reflects a broader reality for Hawai‘i brands: long-term success often depends on adaptation over time and trusted local relationships.

they get exponentially popular, so it was a great opportunity for us.” Through a licensing agreement that allowed its Japan partner to use Moké’s recipes, the Hawai‘i-based restaurant opened its first Japan location in Tokyo’s Nakameguro neighborhood in 2013, followed by a second location in the surf town of Enoshima in 2018. While the Nakameguro restaurant closed in 2021, the Enoshima location continues to welcome customers. “You’re down by the beach, there’s surfing, it just fits the vibe,” Warren says. “They have such a passion for Hawai‘i – the flavors, aesthetics, and lifestyle – so having an outpost where they can visit more frequently is really cool.” Costs of Setting Up Shops While Hawai‘i brands continue to see strong interest and cultural affinity in Japan, maintaining a presence there also comes with challenges – particularly the cost of building and sustaining visibility in-market. “I can see the slow growth of meeting someone at a show and then they visit our shop in Honolulu, but it’s really hard monetarily,” says Shiigi of Ten Tomorrow. “We are still such a small company, and

it’s expensive to do these shows.” In years past, Shiigi’s business received a Hawai‘i State Trade Expansion Program (HiSTEP) Company Assistance grant through DBEDT, which helps Hawai‘i companies expand their exports through participation in trade shows and international market opportunities. “I wouldn’t have had the opportunity to be in Japan in the first place without this program,” Shiigi adds. HiSTEP also offers additional support through export readiness training and advising, along with its Go Global! program, which helps Hawai‘i companies reach overseas markets through both digital platforms and in-person trade and consumer shows. “We try to make it affordable for small businesses to be part of a large Hawai‘i Pavilion at different trade shows,” says Jamie Lee, branch chief of DBEDT’s Business Development Branch, noting that participation costs are significantly lower than exhibiting independently. “Over 90% of the companies that participate in HiSTEP are interested in the Japan market, so that’s why we do have a focus there.”

MOKÉ’S BREAD & BREAKFAST

For Moké’s Bread & Breakfast, that connection came through Sanrio, the Japanese company behind Hello Kitty and friends. Founded in Kailua in 2004, the brunch spot had already built a following among Japanese visitors to Hawai‘i, many of whom sought out its signature lilikoi pancakes. “It was a really interesting experience because Sanrio is such a large company, and they were taking interest in us being a small mom-and-pop,” owner Keola Warren says. “At the time, the big food craze in Japan was pancakes. Tokyo is hyper-trendy, and when things get popular,

Keola Warren and Chef Moké Warren with two staff members at the restaurant’s Nakameguro location in 2015. Photo courtesy of Moké’s Bread & Breakfast

H AWA I I B U S I N E S S

Ten Tomorrow founder Summer Shiigi poses with shoppers at the 10th Hawai‘i Fair at JR Nagoya Takashimaya. Photo courtesy of Ten Tomorrow

TIES THAT BIND

Beyond export support programs like HiSTEP, some Hawai‘i businesses are turning to relationship-based exchange initiatives that can help open doors in Japan. One of those networks is the Honolulu Japanese Chamber of Commerce’s (HJCC) Leadership Entrepreneurial Exchange Program (LEEP). The five-month program connects Hawai‘i and Hiroshima-based business leaders to share insights, learn from one another’s experiences, and build valuable relationships overseas. Ahead of the five-day exchange in Hiroshima, a cohort of five HJCC members from Hawai‘i takes part in preparation sessions, including a Japanese etiquette class and a behavioral assessment. The training helps participants navigate Japanese business customs and communication norms, from business card exchange and greetings to meeting protocols and gift-giving – small details that can play an important role in building trust and relationships. Once in Japan, participants are immersed in the businesses of former cohort members

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and other local companies, many of them long-established family enterprises. Recent visits have included a deep dive into a gyoza business and a tour of one of the country’s largest furikake producers. “In Japan, you have to gain a certain level of trust before you even start talking about business,” says Steve Teruya, HJCC president and CEO. “It aligns with our culture here as well. In Hawai‘i, people understand that relationships come first, business second.” As part of the Hiroshima cohort’s exchange visit to Hawai‘i, Central Pacific Bank (CPB) hosted a mixer with existing customers – entrepreneurs originally from Japan who have since opened businesses in Hawai‘i. Participants discussed the realities of operating across both markets, from regulatory differences and hiring challenges to employee shortages and cultural approaches to business. CPB has a long history of doing business with Japan, dating back more than 70 years. In 2023, the bank announced a business alliance with Tokyo Star Bank aimed at strengthening financial services and improving access for companies operating between Hawai‘i and Japan.

“It’s really difficult for a foreigner to be able to open up an account in Japan, so we want to bridge the gap for small businesses in Hawai‘i to open up and do business there,” says Laura Komoda, a member of LEEP Cohort #4 and vice president and director of private banking at CPB. “We’re not here just for a transaction – it’s a relationship, and whenever you need help, somebody’s always there.” For small business owners in Hawai‘i, those relationships can become just as valuable as the sales generated at a trade show or pop-up event. “Our goal is always to build genuine connections,” Shiigi of Ten Tomorrow says. “A lot of our Japanese customers first meet us at a Hawai‘i Fair and then visit our shop on their next trip to O‘ahu. We get to see familiar faces and make new friends each time we’re in Japan.” “When the relationships are great and customers take that step to try you out and commit to their first purchase, they’re going to be with you for life,” Humbert of UA Hawai‘i adds. “They’re a very loyal customer, and I feel like the business relationships are like that too.”

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Working Together to End Homelessness How partnerships are helping to address homelessness among veterans, Native Hawaiians, kūpuna, and youth.

PHOTO: COURTESY OF COMMUNITY SOLUTIONS

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Ending Homelessness Gains Momentum The Built for Zero initiative has decreased O‘ahu’s veteran homelessness and is now expanding to other vulnerable communities.

or years, veterans cycled through O‘ahu’s homelessness system, moving between programs without finding lasting stability. Then, multiple service providers and organizations came together to compare notes on one veteran specifically. Each had a piece of the puzzle — what services he had used and what barriers had prevented him from securing housing. By pooling their knowledge and coordinating their efforts, the group re-

connected him with services through the U.S. Department of Veterans Affairs and ultimately helped him obtain housing. It’s the kind of outcome that has become more common under Built for Zero, a national initiative developed by the nonprofit Community Solutions that is focused on the goal of achieving “functional zero” homelessness, meaning it is rare or brief. “The mentality arose where rather than count up to houses, we would count

down toward ending homelessness,” says Chelsea Nelson, strategy lead for Large Scale Change at Community Solutions. “Many communities will start with veterans because they have a lot more access to resources from day one.” The Built for Zero model relies on maintaining real-time lists of people experiencing homelessness and improving coordination across agencies to move them into stable housing through a faster, more targeted outreach. Once that foundation is set, Nelson adds, it’s natural for communities to pivot to another vulnerable population. Built for Zero expanded to Honolulu in 2020 and then later to the entire island of O‘ahu in 2024 through a partnership with Partners in Care, O‘ahu’s homeless services continuum of care organization. As the backbone organization for the initiative locally, Partners in Care pulled together a network of local service providers, government agencies, and other stakeholders.

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cracks.” The effort also relies on regular Kaiser Permanente’s partnership with case conferences that bring together the Built for Zero began in 2020, supporting VA Pacific Islands and partners to idenPartners in Care through funding, expertify barriers and problem solve solutions tise, and other resources. for veterans working toward housing. “Kaiser Permanente representatives The collaboration has produced will be at the meetings, and if there’s measurable results. “Data from the 2026 any assistance health-wise that needs Point-in-Time Count saw an 8% decrease to be addressed, we have that reprein veteran homelessness since 2024 (247 sentative from Kaiser Permanente on to 227 veterans) and a 51% decrease since the line, and they can help us figure out 2015 (467 to 227 veterans),” says Kaumesome of the basic things, like what a perheiwa. The sharpest decline was among son can qualify for and then the actual unsheltered veterans, whose numbers housing navigation,” says Laura Theilen, fell 39%, from 125 to 76. executive director of Partners in Care. The annual Point-in-Time count, con“We’re able to partner up with them and ducted by Partners in Care, is a federally figure out housing assistance as well required count of people experiencing as additional services like home health homelessness conducted on a single care workers, so there’s multiple ways night each year. that Kaiser Permanente is involved.” Prior to Community Solutions’ To date, Community Solutions involvement, there was not a concerted reports there’s been a 68% increase in effort among service providers on how to housing placements for vets. move forward, says Kim Cook, vice presOne of the biggest factors in reducing ident of clinical services at the homeless veteran homelessness was improving service provider U.S. Vets. the quality of the data itself. “We shrunk Now, with Community Solutions our name list by cleaning data, and then driving everyone forward, there’s more we figured out who are our top veterans follow-through and monthly meetings were who need a higher level of care,” to track progress, she says. “It really says Theilen. puts the accountability on us to say, By removing outdated records and ‘OK, we are not moving this needle or identifying veterans with the most we are moving this needle,’” Cook says. urgent needs, service providers were “It has been instrumental in moving able to focus resources more strategithis work forward.” cally. Partners in Care worked with the Cook also says Partners in Care has U.S. Department of Veterans Affairs to done a great job understanding which orshorten the time between referrals and ganizations have which housing placement. resources. “Up until “VA Pacific Islands, “Data from the 2026 Point-inas the leading provider Time Count saw an 8% decrease this point, everybody was sort of holding on of veteran services and in veteran homelessness since to their own resources veteran permanent 2024 (247 to 227 veterans) and and kind of utilizing housing programs, was a 51% decrease since 2015 (467 it more in a siloed actively involved in the to 227 veterans).” approach, but what this work from the very bedoes is it elevates to the ginning,” says Lindsey —LINDSEY KAUMEHEIWA Licensed clinical social worker at the U.S. surface what everyKaumeheiwa, coordiDepartment of Veterans Affairs body has, so we can nated entry specialist basically utilize what’s and licensed clinical in our community versus what’s in our social worker at the VA. organization,” she says. Kaumeheiwa says the VA contributes “I absolutely think it can be duplicated housing resources, including temporary for any subpopulation, as long as the housing beds and housing vouchers, providers in the room are committed to coordinates closely with community getting that done and to putting their partners, and helped improve data qualiresources together,” Cook says. ty, “ensuring no veteran fell through the

Giving by the Numbers KAISER PERMANENTE HAWAI‘I INVESTED A TOTAL OF

$60,144,089 INTO OUR COMMUNITIES IN 2025.

CHARITY CARE AND COVERAGE

$25,925,261

MEDICAID & OTHER GOVERNMENT PROGRAMS

$25,089,774

HEALTH PROFESSIONAL TRAINING AND CONSUMER HEALTH EDUCATION

$4,132,574

RESEARCH

$2,330,168

GRANTS AND DONATIONS

$2,232,500

Transitioning to other populations With veteran homelessness declining on O‘ahu, the same model is now being considered for other vulnerable populations experiencing homelessness, including Native Hawaiians, kūpuna, and youth. “There’s a big disproportionate population with Native Hawaiians that are represented in the homeless community,” Nelson says. “Partners in Care kind of shifted to explore what makes sense, how can we utilize our resources to maybe cross-pollinate what we’re doing here.” During a recent series of meetings, Community Solutions, Partners in Care, and over 30 organizations, including Kaiser Permanente, Office of Hawaiian Affairs, and the Department of Hawaiian Home Lands, came together to discuss how the Built for Zero framework could be adapted to address the unique challenges facing Native Hawaiians. “For veterans, a lot of them are not from Hawai‘i, or they’ve traveled before and a lot of them are single males, whereas with Native Hawaiians, we’re talking about land issues and cultural issues,” Theilen says. “The big thing for us right now is being culturally competent, and so that really starts with our team. We really want to get to the heart of the issues, and we really feel that the best way to do that is let the different subpopulations tell us what their needs are.” Thielen says the next step is identifying Native Hawaiian-focused organizations that should be involved, understanding how they can contribute, and determining what gaps in services and support still need to be addressed. “I always take any technical assistance that’s offered to us because it’s always proven to be beneficial, and Community Solutions and Kaiser Permanente have been involved for such a long time now with Partners in Care that they are truly our partners,” Theilen says. It’s the ongoing conversations and deep commitment to community that make Built for Zero a model built for success.

U.S. Vets engages with the community as part of its work to further their mission of serving those who served.

U.S. Vets conducts community outreach.

At a past Built for Zero conference, Lindsey Kaumeheiwa, a coordinated entry specialist and clinical social worker for the U.S. Department of Veterans Affairs, is pictured at far left.

Built for Zero’s Native Hawaiian Workgroup met during an in-person retreat at Windward Community College.

PHOTOS: COURTESY OF U.S. VETS, BUILT FOR ZERO, AND U.S. DEPARTMENT OF VETERANS AFFAIRS

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PHOTO: COURTESY OF YMCA OF HONOLULU

PHOTO: COURTESY OF KIDS HURT TOO HAWAI‘I

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YMCA Counselor Kalani Pascual works on a resilience activity with teens.

Kids Hurt Too program specialist Nani Peterson reads with keiki at Kids Hurt Too’s annual Aloha ‘Ia ‘O Wai‘anae festival.

Supporting Youth Mental Health From school-based health centers to community programs, organizations are addressing mental health needs for children and teens.

s young people navigate a fastpaced world filled with social media pressures, academic demands, and family stressors, culturally grounded mental health support can help youth manage anxiety, stress, grief, or trauma. “I really think there is a need for mental health support right now,” says Kyle Ishizaki, executive director of Kalihi Branch YMCA. He says support helps youth address anxiety, turn negative thoughts into positive ones, manage stress, and learn how to communicate their feelings to others. “For example, they may be feeling scared, but then what comes out of that feeling of being scared may be anger, or it might be something more of sadness, or it might come out as irritation or frustration,” he says. “So, it’s really to help them understand what their emotions are and how these emotions may differ.” On O‘ahu and Maui, various organizations are addressing these needs in schools, clinics, and community spaces, including the YMCA, Kids Hurt Too Ha-

wai‘i, and the Wai‘anae Coast Comprehensive Health Center. The YMCA of Honolulu provides youth mental health support through a three-part model that includes screening, prevention, and intervention. Youth may be identified through school referrals, classroom presentations, and outreach, with screenings conducted one-on-one with a counselor to flag early signs of stress, trauma, or emotional challenges. Prevention and intervention programs then build coping skills and emotional awareness, with more intensive, counselor-led sessions helping youth practice strategies and apply them to real-life situations. The YMCA is also focusing mental health support on students who are physically disabled or challenged. “We know that those students may have some emotional mental health stresses or trauma going on, so Kaiser Permanente has funded us to work with students in the DOE with those physical disabilities to do the screening, and then based off

the screening, either do prevention or intervention.” The nonprofit Kids Hurt Too Hawai‘i offers another targeted effort, providing free mental health mentoring and community-building services to children, teens, and parents impacted by grief, loss, or trauma. “Our kids are going through a particularly difficult time right now and they need a lot of support,” says Walker Rowsey, executive director of Kids Hurt Too Hawai‘i. Rowsey says there is need for mental health support across all ages, especially in the wake of disasters such as the Maui wildfires. In 2024, the nonprofit launched mobile safe spaces to address the aftermath of the Maui wildfires and later expanded mobile services to the Wai‘anae Coast. Rowsey says Kaiser Permanente supports its mobile and school-based peer support groups that operate in the community. “The mobile vehicles have amazing programs in them,” he says. Those services include peer support groups as well as mentoring activities. The nonprofit’s Healing Young Hearts program also offers support groups that help children process tough experiences. “Those support groups work to help kids process the difficult things that they have been through,” Rowsey says. Youth process these emotions through play, he adds, so the groups provide a safe space for play while trained staff observe and listen. “Our model kind of practices a form of youth-led play, so we have a

child-centered approach, and we actually let the kids, the participants, decide absolutely everything that we do in the group, so we are there just to give them undivided attention and support,” he says. For teens, their groups sometimes meet as talk story sessions. In West O‘ahu, Wai‘anae Coast Comprehensive Health Center provides behavioral health services alongside primary care through a network of six school-based health centers. “Our community, the 96792, has gone through a lot that has caused a lot of grief in different ways and impacted our community,” says Ariel Panui, a social worker with Wai‘anae Coast Comprehensive Health Center. “I would say there’s been a lot of loss this past year, specifically for our youth.” “Next to that, I will also say there’s a lot of anxiety and depression. Those are really common as well,” she adds. Services are available to students at elementary, middle, and high school campuses, including Nānāikapono Elementary School, Kamaile Academy, Nanakuli High and Intermediate School, and Wai‘anae Elementary, Intermediate, and High Schools. Students can walk right into the clinic for behavioral health or primary care services, and staff communicate with parents or guardians. “With school-based health centers being on campus, it breaks a lot of stigma where the kids have access, like it’s normalizing seeking help,” Panui says. She also runs a girls group, Ho‘oulu Nā Wahine, which Kaiser Permanente helps fund. It is for middle school students to talk story and reflect on what it means to be wahine and the challenges that come with that, creating a safe space for discussion. Kaiser Permanente has supported these school-based health centers through grants that cover care for students regardless of insurance status. “We have a lot of kids that have just moved or they’re not attached to health insurance, but they need to be seen,” Panui says. “Those grants really help so that we can support the kids.” Through these organizations, young people are being met where they are — in their schools and community — to ensure they have sufficient mental health support and aren’t facing these challenges alone.

PHOTO: COURTESY OF MAUI HEALTH FOUNDATION

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Workforce Housing for Health Care Maui’s health care industry continues to face staffing shortages, with high housing costs deterring medical professionals from relocating to the island. In response, Maui Health Foundation launched a Housing for Healthcare initiative, which provides transitional homes for health care workers and their families — and so far, it’s already making a difference. “We have a huge shortage of health care workers,” says Tamar Chotzen Goodfellow, board president of Maui Health Foundation. “The reason that Maui Health Foundation got into the housing business is because we’re desperate to retain and recruit health care professionals, particularly physicians, but also technicians and high-quality nurses.” A nonprofit that supports Maui’s hospitals, Maui Health Foundation began exploring solutions to the workforce shortage when Maui County donated 16 lots in perpetuity for health care workforce housing. The donation launched the Housing for Healthcare initiative, a $20 million development that provides 16 four-bedroom homes and 15 one-bedroom ‘ohana units near Maui Memorial Medical Center. “If you’re coming as an independent physician, and you have to establish a practice, it takes time to do that,” says Melinda Sweany, chief philanthropy officer of Maui Health Foundation. Sweany said the transitional housing gives physicians time to establish their practices while searching for permanent housing. “We saw this as a solution to help get doctors to come and stay, and so we primarily work in one-year renewable leases,” Goodfellow says. The program also helps medical students completing training on Maui. The foundation hopes the housing will encourage more students to remain on the island after graduation, helping strengthen the workforce over the long term. To help move the project forward, many donors were involved, including Kaiser Permanente which provided financing for construction. “Kaiser Permanente filled an incredible gap by helping to finance the construction for the project and giving us a low interest rate that made it doable, and allowing a long payback period, so we’re incredibly grateful,” says Goodfellow. The model has already shown signs of success. Goodfellow pointed to a Lahaina physician displaced by the 2023 fire who was considering leaving Maui before finding stability through the program. “They stayed just short of a year and then were able to find permanent housing on the west side,” she says. As residents move into permanent housing, new health care workers can take their place, creating a pipeline that the foundation hopes will address Maui’s health care workforce shortage for years to come.

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HAWAI‘I MEDICAL SERVICE ASSOCIATION

2026

Mahalo to Hawaii’s businesses that support employee well-being with HMSA

e’re grateful to partner with many of Hawaii Business Magazine’s Top 250 employers who are committed to supporting their teams. By choosing an HMSA health plan, businesses understand that investing in employee health and well-being strengthens their workplace and the communities they serve. As the most experienced health plan in the state, HMSA has worked alongside Hawaii’s businesses for nearly 90 years. From everyday care to helping employees navigate long-term health needs, accessing mental health support, or finding quality care close to home or the workplace, HMSA is here with members through all of life’s moments. With more than 750,000 members, HMSA covers more than half of Hawaii’s population and has supported local communities for generations. As a recognized health care leader, we embrace our responsibility to strengthen the health and well-being of our community. Caring for the people of Hawaii is our promise and our privilege. From mom-and-pop shops to some of the state’s largest employers, we’re honored to partner with businesses of all sizes to ensure that their team members have access to highquality care when and where they need it. Our health plans give members the freedom to choose from more than 10,500 trusted doctors, specialists, and other health care providers statewide; access our expansive Blue Cross Blue Shield network when traveling; and take advantage of well-being resources tailored to individual needs.

To every business that’s trusted us with their employees’ health and wellbeing, mahalo! We’re grateful for your continued partnership as you support your teams. Together, we’re supporting a Hawaii where families and communities can enjoy everhealthier lives. Visit hmsa.com/employerplans for more information.

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THE 43RD ANNUAL RANKING OF HAWAI I’S LARGEST COMPANIES AND NONPROFITS

The Biggest Grow Even Bigger, But a Few Sectors Struggle The state’s largest companies and nonprofits tightened their grip on Hawaiʻi’s economy in the past year. The trend, which reflects a national pattern that results in part from federal policies favoring the richest, shows up in Hawaii Business Magazine’s new Top 250 list. by K E N W I L L S & D AV I D N U S S B A U M

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evenues of the 14 Hawaiʻi companies and nonprofit organizations with annual sales greater than $1 billion grew by 3.8% in 2025 and by 12% over the past two-year period. The list is not exactly the same year over year, as some companies drop out, others are added or combined. But the measure is a good approximation of the ranking and economic activity of the state’s largest enterprises. To understand Hawai‘i’s economy during the past year, consider where residents, companies, governments and nonprofits are channeling their money. Construction and healthcare sectors delivered strong performances in 2025 with continuing promise for this year. Tourism, the

largest driver of economic activity that accounts for about a fifth of the economy, showed signs of recovering before the U.S.-Israel war with Iran dealt it another blow in early 2026. “Hawai‘i’s economy must weather a new storm,” concludes the University of Hawai‘i Economic Research Organization (UHERO) in its May forecast. “The Iran war has sent oil prices surging, promising to raise inflation, increase travel costs and slow the major economies that send visitors to the Islands. These headwinds arrive on top of the serious damage from the two March Kona Low storms and an already-slow labor market growth. An outright contraction remains unlikely, but the near-term outlook has materially worsened.”

“Construction and healthcare sectors delivered strong performances in 2025 with continuing promise for this year.” Even so, the latest forecast from the state Department of Business, Economic Development and Tourism (DBEDT) predicts visitor arrivals in 2026 will rise 1.9%, with visitor spending projected to rise 4.3%. It says energy prices spiked 28.8% in May but still forecasts overall economic growth in 2026 of 1.6%, down only slightly from its March outlook. The 14 companies and nonprofits with annual revenues of over $1 billion collectively drew in sales of $36.4 billion. Of that group, four are in the healthcare sector and amassed $11.7 billion in revenue, a growth rate of 10.2%. Put another way, of the largest organizations in the state, nearly one in every three dollars of revenue went to a healthcare provider or an insurer. Hawaii Medical Service Association (HMSA), technically a nonprofit that reports more than 760,000 members, again took the No. 1 spot in the Top 250 ranking, with $4.72 billion in revenues, an 8.5% increase from the year before. The insurer has been the state’s biggest enterprise by revenue nearly every year for the past decade. The healthcare sector could consolidate further if the proposed combination of HMSA and the state’s largest healthcare provider, Hawai‘i Pacific Health (No. 10), is approved. (Clash of Titans: Hawai‘i’s Healthcare Leaders Disagree on Best Path Forward - Hawaii Business Magazine, April 2026)

ALASKA/HAWAIIAN MOVES UP

No. 2 on the Top 250 list is the combined Hawai‘i operations of Alaska Airlines and Hawaiian Airlines, moving up a notch from No. 3 last year. The merged company showed strong revenue growth of 8% in 2025 ahead of a rocky start to 2026 due to Iran war-induced fuel cost spikes that have forced it to raise fares (EXCLUSIVE: Hawaiian Airlines CEO: Iran War Pushes Fares Up But Merger Goals on Track - Hawaii Business Magazine, June 2026). Before this year’s challenges, Hawaiian Airlines CEO Diana Birkett Rakow says it had cut running annual losses of $350 million ahead of the merger to half that amount. Down one spot in third position on this year’s list is Servco Pacific, a diversified company that spans operations from automotive distribution and retail, musical instruments, car sharing, industrial equipment and venture capital, with revenue of $4.1 billion. That marks a 28% increase over the last two years. Privately owned Servco is the exclusive distributor of Toyota, Lexus and Subaru vehicles in Hawai‘i, with offices also in Australia, and is a majority stakeholder in Fender Musical Instruments and other companies in that field. Servco opened an investment office in California and says it plans to expand the company’s other businesses into new global markets. In the No. 4 slot, Par Hawaii, is the flip side of the fuel coin, showing an

8.1% drop in revenue in 2025. However, as a refiner, distributor and marketer of petroleum products, as well as transportation fuels across Hawai‘i, it has benefited from the global price increases that the war with Iran has triggered. First quarter 2026 profits jumped to $54.5 million from a loss of $30.4 million the year before. “Our outlook is strong, and we are well positioned to capitalize on the elevated margin environment across our system,” Will Monteleone, president and chief executive officer of the parent company, told shareholders in May. Also in the energy sector, Island Energy Services with its Texaco Network of stations and other fuel distribution, suffered a 12.6% drop in revenue in 2025 before the fuel price spikes of early 2026. It slid from No. 11 to No. 14 position, with revenue of $1.02 billion. Matson, the shipping company that is perennially a most-profitable company in Hawai‘i, held its 2025 revenue ranking at No. 5, with $3.35 billion in sales. That was a decline of 2.3% from the prior year, marked by shifting global trade patterns in response to President Donald Trump’s on-again, off-again tariffs and threats. Hawaii Business Magazine publishes its annual list of the state’s most profitable companies in the September issue. Matson’s competitor in the shipping sector, Pasha Hawaii, logged a nearly 1% revenue gain in similarly tough conditions to $778 million, holding steady at No. 17.

H AWA I I B U S I N E S S

Hawaiian Electric Industries (HEI), which previously has been among the top three companies when ranked by revenue, retained its recent spot at No. 6, with a 4.1% decline in sales to $3.1 billion. It is still recovering from a $1.4 billion profit loss in 2024 as a result of its nearly $2 billion contribution to the Maui wildfire settlement. And after storms in early 2026 caused extensive damage to transmission lines and facilities that caused power outages, the utility with 472,000 customers has sought rate increases for the next two years. CONSTRUCTION IS A BRIGHT SPOT

The state economy has gotten a boost from the construction sector, despite continued permitting delays

for residential construction across the Islands. “Construction remains a genuine bright spot, with job growth ranging from more than 2% on O‘ahu to nearly 6% in Maui County,” UHERO says in its latest outlook. “Large federal contracts, Maui wildfire rebuilding, and the launch of the $4 billion New Aloha Stadium Entertainment District will sustain elevated activity through the end of the decade.” One construction firm is part of the billion-dollar-revenue club, Hawaiian Dredging Construction, with annual revenues of $1.1 billion, which were flat on the year. General construction company Nan, meanwhile, posted a 7.2% jump in revenue to $917 million. In just four years, it has steadily climbed from No. 24 on

“Our commitment to our communities is just as strong, as we actively support recovery efforts following the recent floods in Hawai‘i and Typhoon Sinlaku’s impact on Guam and Saipan.” Bob Harrison, Chairman, President and CEO of First Hawaiian Bank

AU G U S T 2 0 2 6

the list with $465.8 million in revenues to No. 15 this year, just shy of the billion-dollar mark. Employee-owned general contractor Hensel Phelps (No. 19) has more than doubled its Hawai‘i revenue in the past five years, adding 7.5% in 2025 to $602 million. After government contracts propelled growth of nearly 50% in 2024, Maui-based contractor Goodfellow Bros. (No. 27) gained another 2.8% in 2025. Two financial firms were again included in the over-$1 billion club – First Hawaiian Bank and Bank of Hawai‘i. Both moved up one slot on the year, to No. 11 and No. 13, respectively. Bob Harrison, chairman, president and CEO of First Hawaiian Bank, said first quarter 2026 loans and deposits grew. “Our commitment to our communities is just as strong, as we actively support recovery efforts following the recent floods in Hawai‘i and Typhoon Sinlaku’s impact on Guam and Saipan. We will continue to stand alongside our customers across our markets throughout the recovery.” Jim Polk, who took over as president and CEO at Bank of Hawai‘i following the retirement of Peter Ho, said the bank started 2026 “on a firm footing. This performance underscores the strength and resilience of our franchise.” TOURISM CAN’T CATCH A BREAK

Tourism, which is a key part of Hawai‘i’s economy, is still struggling to get back to pre-Covid levels. Plagued by the Maui wildfires, a simultaneous drop-off in international travelers from the mainstay markets of Japan, Canada and Australia, and now war-induced airfare hikes, the entire sector is smarting. Revenues at top hotel chain Kyo-ya Hotels and Resorts (No. 18), which operates such notable

INDUSTRY PERFORMANCE: Year-Over-Year Gains vs. Sector Size Number of Companies Reporting

REAL ESTATE

12.66%

Year-Over-Year Revenue Gains

(9)

FINANCE

12.03% (26)

Y-o-Y 12%

10%

CONSTRUCTION & DEVELOPMENT

11.05%

EDUCATION

(39)

-1.97% (12)

INSURANCE

2.28%

(16)

OTHER

TOURISM & LEISURE

9.30%

2.33%

(25)

(15)

RETAIL & WHOLESALE

4.08% (25)

NON PROFIT

9.20% (35)

TRANSPORTATION

4.67% (10)

HEALTH CARE

4.71% (23)

ENERGY

TECHNOLOGY

(12)

(3)

4.89%

7.49%

H AWA I I B U S I N E S S

THE BILLION-DOLLAR CLUB

14 COMPANIES AND NONPROFITS THAT REPORTED GROSS REVENUE OF $1 BILLION OR MORE IN 2025.

5.6% OF THE ENTIRE TOP 250 LIST

58.38% OF THE TOTAL REVENUE

TOP 250 LIST COMBINED GROSS REVENUE

$62.4 B

+3.77% COMPARED TO 2024

DEEP ROOTS

TOP PERFORMERS REVENUE

COMPANIES ON THE LIST HAVE BEEN ESTABLISHED FOR A CENTURY OR MORE

COMPANIES ESTABLISHED IN THE 1800S

$4.72B HAWAII MEDICAL SERVICE ASSOCIATION (HMSA) EMPLOYEES

9,632

THE QUEEN’S MEDICAL SYSTEMS

AU G U S T 2 0 2 6

HOW WE COMPILE THE TOP 250 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 contributions to revenue, funding for services and/ or proceeds from activities that support their missions. Each business and nonprofit provides the name of an executive who verifies the self-reported figures. Companies headquartered in Hawai‘i report sales from all of 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. Some companies with large local presences don’t appear on the list. Those omissions often happen when offshore parent companies can’t or won’t supply data for their Hawai‘i operations, or when companies are privately held and do not disclose financial information. Top 250 executives are surveyed and profiled in our Black Book issue each December.

properties as the Moana Surfrider, the Palace Hotel, the Sheraton Princess Kaiulani Waikiki Beach and the Royal Hawaiian, among others, fell 5.9% to $752.2 million. In a year when tourist numbers were down but overall spending was up, sector results were mixed. The OUTRIGGER Hospitality Group (No. 21) fared better with 2.3% sales growth in the year to $568 million. In a March interview with industry publication Hotel Dive, Sean Dee, executive vice president and chief commercial officer, said that despite the slump in international tourists, it has seen a slight recovery in U.S.-based visitors and also a shift to more well-heeled guests spending more per night. “It’s not just rate growth, which is there obviously, but room night growth has been pretty significant,” Dee says. “Where there is softness is in the midscale and limited- and select-service segments. This is absolutely happening in Hawai‘i as well.” Across the state, Hawai‘i organizations are still feeling a gut punch from federal program cuts that started during the first year of President Trump’s second term. Some 3,000 federal workers in Hawai‘i lost their jobs last year. Meanwhile, federal funding for scientific research, healthcare, agriculture, arts, education, oceans, community and legal services, housing, food assistance, Native Hawaiian programs and elderly care among other areas was cut entirely, reduced or threatened. That is putting strains on nonprofits and charities that have tried to fill the federal gaps with donations. Hawai‘i Community Foundation, the largest charitable clearinghouse in the state, saw revenues drop nearly 23% in the year to $88 million, knocking its ranking to No. 94 from No. 76 last year. Although it has a strong asset base from which it can also draw to make donations to other nonprofits and charities, the hit to new income will surely affect its long-term outlook if the trend continues. Hawaii Business Magazine will publish its annual list of the state’s most charitable companies and organizations in our November issue. Last year proved to be a record level of giving, but national and global economic disruptions have raised new uncertainties. “Hawai‘i is now absorbing three major supply-side shocks simultaneously: high tariffs, reduced immigration, and the worst oil disruption in 50 years,” says UHERO in its latest forecast. “The cumulative burden is substantial and equally uncertain.” Please see the Top 250 list starting on page 38 with an alphabetized index to organizations on the list on page 76.

JOIN NEXT YEAR’S TOP 250 If you would like to receive Top 250 surveys in the future or update your contact information, please email kenw@hawaiibusiness.com.

H AWA I I B U S I N E S S

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

Gain Rank

Company name

% increase, gross sales

Gross Annual Sales (2025)

Gross Annual Sales (2024)

Dollar Difference

Industry

Sunspear Energy

103.70%

$32,700,000

$16,052,996

$16,647,004

Energy

Fujikawa Associates Inc.

80.00%

$45,000,000

$25,000,000

$20,000,000

Construction & Development

Constructors Hawaii Inc.

73.85%

$44,213,768

$25,432,405

$18,781,363

Construction & Development

Maui Land & Pineapple Co. Inc.

68.24%

$19,457,000

$11,565,000

$7,892,000

Real Estate

University of Hawai‘i Foundation

63.41%

$141,503,385

$86,593,328

$54,910,057

Nonprofit

Connext, LLC

58.33%

$47,500,000

$30,000,000

$17,500,000

Other

Albert C. Kobayashi Inc.

56.17%

$550,500,000

$352,500,000

$198,000,000

Construction & Development

Elite Pacific Construction Inc.

55.44%

$30,000,000

$19,300,000

$10,700,000

Construction & Development

Allied Builders System, Inc.

53.08%

$97,972,000

$64,000,000

$33,972,000

Construction & Development

Harold K. L. Castle Foundation

43.03%

$7,593,607

$5,309,275

$2,284,332

Nonprofit

Paradigm Construction LLC

39.90%

$67,083,303

$47,950,808

$19,132,495

Construction & Development

Legacy of Life Hawai‘i

36.00%

$10,540,000

$7,750,000

$2,790,000

Health Care

Ho‘ʻōla Nā Pua

34.28%

$8,618,601

$6,418,359

$2,200,242

Nonprofit

WSP USA

34.10%

$59,300,000

$44,220,000

$15,080,000

Transportation

Orion Engineers & Associates

32.92%

$6,380,000

$4,800,000

$1,580,000

Other

Shioi Construction Inc. dba Creative Partition Systems

30.27%

$79,771,046

$61,233,355

$18,537,691

Construction & Development

Kaua'i Federal Credit Union

29.30%

$13,460,160

$10,410,121

$3,050,039

Finance

Partners in Development Foundation

29.11%

$28,647,587

$22,189,303

$6,458,284

Nonprofit

Coldwell Banker Realty

28.04%

$65,204,105

$50,926,605

$14,277,500

Real Estate

Array Corporation

26.70%

$17,057,286.15

$13,458,353

$3,598,933.15

Other

AU G U S T 2 0 2 6

WILDFIRE SAFETY & PUBLIC SAFETY POWER SHUTOFF

Protecting lives, homes and communities We are continuously expanding our Wildﬁre Safety initiatives to help reduce the risk of wildﬁres, especially in areas experiencing extended droughts. Some key actions we’ve taken:

Replacing and upgrading utility poles and overhead lines

Utilizing the latest technology to shut power lines oﬀ quickly

Installing highdeﬁnition cameras with artiﬁcial intelligence and weather stations

Clearing vegetation around power lines

Deploying spotters, drones and helicopters to monitor high-risk areas

If you live in a high wildfire risk area, receiving Public Safety Power Shutoff (PSPS) notifications can help you prepare for a possible power shut off as a last resort. To see maps of high wildfire risk areas on Oʻahu, Maui County and Hawaiʻi Island, go to: hawaiianelectric.com/pspsmaps To receive PSPS notifications, especially if you have special medical needs, go to: hawaiianelectric.com/pspssignups Through our ongoing collaborations with first responders, community groups, government agencies and customers, Hawaiian Electric is committed to creating a fire-safe environment for our families and communities.

hawaiianelectric.com/wildﬁresafety

H AWA I I B U S I N E S S

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

SALES ($M) 2025 2024 2023

Hawaii Medical Service Association (HMSA)

Mark Mugiishi - CEO Jenny J. Smith - President and COO Kenric M. Murayama - Exec. VP, Chief Health Officer Jennifer A. Walker - Exec. VP, Chief Administrative Officer, General Counsel, and Chief Risk Officer

$4,716.1 $4,352.8 $4,136.2

8.3% 5.2%

1,353 1,391

Alaska Airlines and Hawaiian Airlines

3 6

Airline www.hawaiianairlines.com, www.alaskaair.com Alaska Air Group Alaska Airlines; Hawaiian Airlines

Ben Minicucci - President and CEO Diana Birkett Rakow - CEO of Hawaiian Airlines Jim Landers - Head of Hawaii Operations Melodi Pieper - Human Resources Regional Director Alisa Onishi - Managing Director of Hawai‘i Marketing Shelly Parker - Head of Hawaii Guest Operations Daniel Chun - Managing Director, Hawai‘i Public Affairs and Sales Jonathan Goo - Safety Director

$4,128.0 $3,821.6 1 $2,716.3 2

8.0% 40.7%

32,669 3 7,464

Servco Pacific Inc.

2 4

Automotive distribution and retail, musical instruments, car sharing, venture/growth capital. www.servco.com Servco Foundation; Fukunaga Scholarship Foundation; Lōkahi: The Ukulele Collective; Hui Car Share; Servco Australia; Fender Musical Instruments Corp.; Reverb

Peter Dames - President & CEO Ruth Fukunaga Uejio - CFO Peter Fukunaga - Chief Investment Officer & Treasurer Diana Brown - Chief People Officer Nick Pappas - Pres./Managing Dir., Servco Global Mobility Mark H. Fukunaga - Executive Chair

$4,086.8 $3,856.8 $3,210.0

6.0% 20.2%

1,095 1,096

2026 2025 2024

1 1 1

Health organization; health insurance. www.hmsa.com HMSA Foundation; Integrated Services Inc.

% CHANGE EMPLOYEES 2025 2025 2024 2024

Par Hawaii, LLC

4 2

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

Eric Wright - President Keith Yoshida - VP, Business Development Deaglan McClean - VP, GM Par Hawaii Refinery John Peyton - VP, Retail John Peacock - VP, Logistics Marc Inouye - Director, Government & Public Affairs

$3,381.7 $3,678.1 $4,018.9

-8.1% -8.5%

581 642

Matson, Inc.

5 5

Ocean transportation, logistics and supply chain services. www.matson.com Matson Navigation Company, Inc.; Matson Terminals, Inc.; Matson Logistics, Inc.

Matt Cox - Chairman and CEO Len Isotoff - Senior VP, Pacific Ku'uhaku Park - Senior VP, Government & Community Relations Bernie Valencia - VP, Sales - Hawaii

$3,344.5 $3,421.8 $3,094.6

-2.3% 10.6%

1,746 2,040

Hawaiian Electric Industries (HEI)

6 3

Energy services. www.hei.com Hawaiian Electric ; Pacific Current

Scott Seu - President and CEO Paul Ito - Exec. VP & CFO Kurt K. Murao - Exec. VP, General Counsel, Chief Adm. Officer and Corp. Sec.

$3,086.9 $3,219.9 $3,682.2

-4.1% -12.6%

2,659 2,587

The Queen's Health Systems

Jason C. Chang - President & CEO, The Queen's Health Systems, and President, The Queen's Medical Center John Nitao - Exec. VP and General Counsel Tim Panks - Exec. VP and CFO Whitney Limm - Exec. VP, Clinical Integration, and Chief Physician Executive Eric K. Martinson - President, Queen Emma Land Company; Exec. VP, Endowment and Chief Investment Officer Darlena D. Chadwick - Exec. VP, COO Robin Kobayashi - Exec. VP, Chief People Strategy Officer Linda Puu - Sr. VP, QHS Chief Nurse Executive Janice Kalanihuia - President, Molokai General Hospital Stephany Nihipali Vaioleti - President, Queen's North Hawai‘i Community Hospital Robin Kalohelani - SVP, COO, The Queen's Medical Center-West Oahu & Wahiawa

$2,583.6 $2,141.4 $1,932.0

20.6% 10.8%

9,632 9,590

Acute care medical facility with programs in cancer, cardiovascular disease, neuroscience, orthopedics, organ transplantation, surgery, emergency medicine, trauma, and behavioral medicine. www.queens.org Queen's University Medical Group; Primary Care Physicians Enterprise, LLC; Molokai General Hospital; The Queen's Medical Center; 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

9 9

Alaska and Hawaiian airlines combined in Sept. 2024.

Fig. is from Hawaiian Airlines; Alaska reported $917.8 million in Hawaii-based revenue.

Alaska Air Group employee headcount includes global operations. It does not track employees by location or airline.

AU G U S T 2 0 2 6

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

University of Hawai‘i

8 8

Higher education and research. www.hawaii.edu

Wendy F. Hensel - President Debora Halbert - VP Academic Strategy Jan Gouveia - VP Administration Luis Salaveria - VP for Budget & Finance, CFO Chad Walton - Interim VP for Research and Innovation Carrie Okinaga - VP for Legal Affairs/General Counsel Lui Hokoana - Interim VP for Community Colleges Garret Yoshimi - VP for IT and CIO Timothy Dolan - VP Advancement, University of Hawai‘i, and CEO, UH Foundation

$2,357.1 $2,206.1 $2,034.2

6.8% 8.4%

8,673 8,567

Kaiser Permanente Hawaii

7 7

At Kaiser Permanente, our mission is to provide high-quality, affordable health care — and to improve the health of our members and our communities. As a nonprofit, integrated health care organization, we combine health coverage and care delivery to truly care for Hawai‘i’s people like family. www.kp.org Kaiser Foundation Health Plan & Hospital Inc. Kaiser Foundation Health Plan Inc.; Kaiser Foundation Hospitals Inc.

Ed Chan - Hawaii Market President, Kaiser Foundation Health Plan and Hospitals John Yang, MD - President & Medical Dir., Hawaii Permanente Medical Group

$2,355.1 $2,234.6 $2,112.7

5.4% 5.8%

4,600 3,009

Hawai‘i Pacific Health

$2,033.5 Raymond P. Vara - President & CEO $1,884.1 David Y. Okabe - Exec. VP, CFO, Treasurer $1,709.1 Charles R. Ching - Exec. VP, General Counsel Art Gladstone - Exec. VP, Chief Strategy Officer Shilpa Patel - Exec. VP, Chief Quality Officer Jan Boivin - Exec. VP, Human Resources & Organizational Effectiveness Jen H. Chahanovich - President, CEO, Wilcox Medical Center; CEO, Kaua‘i Medical Clinic Terence Young - EVP of O‘ahu Operations and CEO of Kapi‘olani Medical Center for Women & Children, Pali Momi Medical Center and Straub Benioff Medical Center Leslie B. Chun - CEO, Hawai‘i Pacific Health Medical Group Peter Lewis - Senior VP, Chief Information Officer

7.9% 10.2%

7,680 7,749

6 10

Adult, pediatric, obstetric and women's health services; primary care through tertiary-level specialty services; research and teaching via four medical centers and through more than 1,000 health care providers statewide. www.HawaiiPacificHealth.org Hawai‘i Pacific Health Medical Group; Pali Momi Medical Center; Straub Benioff Medical Center; Kapi‘olani Medical Center for Women & Children; Wilcox Medical Center

H AWA I I B U S I N E S S

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

First Hawaiian Bank

12 12

Financial services. www.fhb.com First Hawaiian, Inc.

Robert S. Harrison - Chairman, President & CEO James Moses - Vice Chair & CFO Gina Anonuevo - Vice Chair, Chief Administrative Officer/Chief Human Resources Officer - Tech, Digital, Data & HR Group Neill A. Char - Vice Chair, Retail Banking and Consumer Products Group Darlene N. Blakeney - Exec. VP & Chief Lending Officer, Wholesale Banking Group; CEO, First Hawaiian Leasing, Inc. Michael Tottori - Executive Vice President, Wealth Management Group Joel Rappoport - Exec. VP, General Counsel & Secretary, Legal and Corporate Services Group Lea Nakamura - Exec. VP & Chief Risk Officer, Risk Management Group Cameron Nekota - Exec. VP, Commercial Banking and Bank Properties Group

$1,168.3 $1,165.8 $1,124.4

0.2% 3.7%

2,018 2,019

Hawaiian Dredging Construction Company, Inc.

Gerry Majkut - President Leonard J. Dempsey - Sr. VP, Heavy Division Eric Hashizume - Sr. VP, Building Division Theron Holloway - Sr. VP, HDCC Guam Cedric Ota - Sr. VP, Waterfront & Foundation Division Paul Silen - Sr. VP, Commercial Division Andre Wong - Sr. VP, Preconstruction Services and Estimating Roy Morioka - VP, SIOP Darin Murayama - VP, Finance Patrick Palmer - VP, Building Division Asdaq Wahid - General Counsel Jennifer Creedon - Human Resources Director

$1,100.0 $1,100.0 $780.0

0.0% 41.0%

1,053 948

Bank of Hawai‘i Corp.

14 13

Financial services. www.boh.com Bank of Hawaii

James C. Polk - President and CEO Bradley S. Satenberg - Vice Chair and CFO Patrick McGuirk - Vice Chair, Chief Administrative Officer Marco A. Abbruzzese - Vice Chair, Senior Exec. Director of Wealth Management Matthew K.M. Emerson - Vice Chair and Chief Retail Banking Officer Bradley Shairson - Vice Chair, Chief Risk Officer

$1,066.9 $1,036.3 $987.0

3.0% 5.0%

1,877 1,865

Island Energy Services LLC

11 11

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. www.islandenergyservices.com First Reserve Corporation IES Retail LLC; IES Downstream LLC

Jon Mauer - President & CEO Phillip G. Elliott - CFO Carina Ohara - VP and General Counsel Ryan Chavoustie - VP, Sales and Marketing Albert D. K. Chee - VP, Retail Marketing & Community Relations Mark Dangler - VP, Logistics

$1,023.0 $1,170.0 $1,233.0

-12.6% -5.1%

390 326

Nan Inc.

15 17

General construction. www.nanhawaii.com Grace Pacific LLC

Fooney Freestone - President Ryan Nakaima - Senior VP Sungwon Baik - VP of Building Estimating Jason Ko - VP of Big Island Operations Wyeth Matsubara - VP Ed Shukri - VP of Civil Estimating

$917.0 $855.2 $638.8

7.2% 33.9%

2,138 1,801

Hawaii Health Systems Corp.

18 18

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

Edward N. Chu - President and CEO Joyce Tamori - VP and CFO Andrea Suzuki - VP and General Counsel Juanita Lauti - VP and Chief HR Officer Renee Lai - VP and CIO

$788.5 1 $707.5 1 $636.6 1

11.4% 11.1%

Pasha Hawaii

George W. Pasha, IV - President, CEO

$778.0 $771.0 $727.4

0.9% 6.0%

13 15

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

17 16

Per HHSC report to the Legislature.

AU G U S T 2 0 2 6

541 494

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

Kyo-ya Hotels & Resorts, LP

16 -

Hotels and resorts. In 2023, the company established the Kyo-ya Hotels Foundation 501(c)(3) nonprofit in the wake of the Maui wildfires that builds on more than 60 years of charitable giving by Kyo-ya Hotels. www.kyoyahotelsandresorts.com Kokusai Kogyo Kanri Kabushiki Kaisha Moana Surfrider, A Westin Resort & Spa (dba); Palace Hotel, a Luxury Collection Hotel (CA) (dba); Sheraton Princess Kaiulani Waikiki Beach (dba); The Royal Hawaiian, a Luxury Collection Resort (dba); Sheraton Waikiki Beach Resort (dba); Sheraton Maui Resort & Spa (dba)

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

$752.2 $799.5 $811.1

-5.9% -1.4%

3,199 3,234

Hensel Phelps

Jonathan E. Tseu - VP Ronald Alan Mitchell - Dir. of Operations Michael Matthew Venezia - Chief Estimator

$602.0 $560.0 $381.0

7.5% 47.0%

586 583

Eric Yeaman - Trustee Livingston Wong - CEO Elliot Kawaiho‘olana Mills - Trustee Crystal Kauilani Rose - Chair, Trustee Jennifer Noelani Goodyear-Ka‘ōpua - Vice Chair, Trustee Michelle Ka‘uhane - Trustee

$590.0 $566.7 $533.1

4.1% 6.3%

2,354 2,328

20 27

Hensel Phelps is an employee-owned general contractor providing development, construction and facility services nationwide. Our culture is rooted in dedication to delivering excellence for our clients and employees. For more than 30 years, we have proudly served communities across Hawai‘i and Guam. www.henselphelps.com

20 Kamehameha Schools 19 19

Kamehameha Schools, established in 1887 as a private, charitable trust, is devoted to enhancing the lives of Native Hawaiians through education. Its visionary mission aims to create a generation of leaders who embody Christian and Hawaiian values, achieve postsecondary success, and make meaningful contributions to their communities locally and globally. www.ksbe.edu Bishop Holdings; Kamehameha Investment Corp.; Pauahi Management Corp.

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H AWA I I B U S I N E S S

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

OUTRIGGER Hospitality Group

Jeff Wagoner - President & CEO Crystall Ho - Exec. VP & CFO Sean P. Dee - Exec. VP & Chief Commercial Officer Scott Miyasato - Executive VP & Chief Legal Officer Ruthann S. Yamanaka - Sr. VP, Chief People Officer

$568.0 $555.0 $534.0

2.3% 3.9%

Michael Young - President Roberta Hsu - Chief Operating Officer Joseph Alameda - VP Deron Matsuoka - VP Brian Niitani - VP Shaun Shimizu - Corp. Treasurer

$550.5 $352.5 $255.3

56.2% 38.1%

355 284

Phil White - Chief Sales Officer Benjamin A. Godsey - CEO Erik DeRyke - VP of Client Growth & Retention Tami Minami - VP of Business Process Improvement Nelson Befitel - Chief Counsel Michelle Leon-Guerrero - Chief People Officer

$548.1 $514.5 $458.3

6.5% 12.3%

399 441

Glen A. Kaneshige - President

$521.0 $437.3 $354.0

19.1% 23.5%

310 250

Lori Kahikina - Exec. Director and CEO

$509.6 1 $488.6 $445.2

4.3% 9.7%

John Meyers - State Farm Sales Leader, Hawai‘i

$503.9 2 $463.8 2 $420.7 2

8.6% 10.2%

Matt Heahlke - Division President - Hawaii

$464.8 $452.0 $304.0

2.8% 48.7%

600 523

Russell J. Hata - Chairman, President & CEO Brian Marting - CFO Jordan Vannatta - Exec. Director, Operations Ronna Bahl - Exec. Director, Supply Chain, Sales, & Marketing Bob Piccinino - Exec. Director, Advisor Lawrence Wang - Director of Finance

$429.6 $426.1 $422.7

0.8% 0.8%

465 465

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

$413.7 $410.9 $390.2

0.7% 5.3%

250 261

Todd Takayama - President and CEO

$396.3 $345.8 $285.9

14.6% 21.0%

214 225

Leisure lodging, retail and hospitality. Corporate offices in Hawai‘i operating globally in the Asia-Pacific, Oceania and Indian Ocean regions. www.outrigger.com Outrigger Hospitality Group OUTRIGGER Hotels Hawaii and affiliated entities globally

21 -

22 Albert C. Kobayashi Inc. General contractor. www.ack-inc.com

31 41

23 ProService Hawaii HR management. www.proservice.com

22 21

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

26 29

25 Honolulu Authority for Rapid

Transportation (HART)

23 22

The Honolulu Authority for Rapid Transportation is responsible for building the 18.9-mile, 19-station commuter rail system for the City and County of Honolulu. honolulutransit.org

26 State Farm Insurance Co. 24 25

Property and casualty, life, and health insurance; banking and mutual funds. www.statefarm.com State Farm Fire & Casualty Co.; State Farm Mutual Automobile Insurance Co.

Goodfellow Bros.

Heavy civil/paving/structural concrete. goodfellowbros.com Goodfellow Bros Arita Poulson General Contracting LLC; Blasting Technology; Hawaii Drilling and Pump Service ; Maui Paving ; Hawaii Paving

25 33

28 Y. Hata & Co., Ltd.

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 HPL - Hawaii Pacific Logistics LLC; ChefZone

27 24

29 Jim Falk Automotive Group

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

29 26

30 First Insurance Company of

Hawaii Ltd.

32 37

Property and casualty insurance. www.ficoh.com Tokio Marine North America First Risk Management Services (FiRMS)

Per annual report.

Direct premiums written in Hawai‘i per DCCA, including P&C and life insurance.

AU G U S T 2 0 2 6

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

UHA Health Insurance

Howard Lee - President, CEO Darren Nakao - Exec. VP, COO and Treasurer George McPheeters - Exec. VP, CMO Stevette Ku‘ulei Santiago - Sr. VP, Chief Human Resources and Brand Officer Jan Kaeo - Sr. VP, CSO Keriann Osada - Sr. VP, CIO

$375.1 $366.9 $349.4

2.2% 5.0%

179 173

Ann Teranishi - President & CEO Dani Aiu - EVP, Consumer Banking Tony Mizuno - EVP, Commercial Markets Steven Nakahara - EVP, Chief Credit Officer Natalie Taniguchi - EVP, Chief Risk Officer Dane Teruya - EVP, Chief Financial Officer John Ward - EVP, Chief Marketing & Product Officer Beth Whitehead - EVP, Chief Administrative Officer John Jacobi - EVP, Chief Information Officer

$364.9 $318.4 $297.4

14.6% 7.1%

972 950

Su Shin - President Jason Thune - VP - Fiber Strategy and Deployment

$347.3 $341.9 $347.8

1.6% -1.7%

900 900

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

$343.7 $324.9 $322.0

5.8% 0.9%

458 448

Ryan Kaipo Nobriga - Executive VP, CFO

$307.8 $307.2 $298.2

0.2% 3.0%

47 56

Ernest Y.W. Lau - Manager & Chief Engineer Erwin E. Kawata - Deputy Manager

$299.2 1 $260.1 1 $244.7 1

15.0% 6.3%

Michael Fujimoto - Chairman Emeritus Jason R. Fujimoto - Chairman & CEO Adam Bauer - President & COO

$297.0 $261.0 $251.0

13.8% 4.0%

565

Arnold D. Martines - Chairman, President and CEO David S. Morimoto - Vice Chair, Chief Operating Officer Ralph Mesick - Senior EVP, Chief Risk Officer Dayna Matsumoto - EVP, Chief Financial Officer

$292.7 $250.5 $256.7

16.9% -2.4%

756 741

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

30 30

32 American Savings Bank Banking & financial services. www.asbhawaii.com

35 35

33 Hawaiian Telcom

Innovative technology leader, committed to bridging the digital divide by expanding its future-proof fiber network to bring the benefits of broadband to more people in more places in Hawai‘i. Leading provider of integrated communications, broadband, data center and entertainment solutions. www.hawaiiantel.com altafiber (formerly known as Cincinnati Bell)

33 31

34 Tony Group

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

34 32

35 James Campbell Company LLC

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

36 -

36 Honolulu Board of Water Supply 43 49

Public water utility. www.boardofwatersupply.com

Hawaii Planing Mill, Ltd.

42 44

Founded in Hilo in 1921, HPM Building Supply is a fifthgeneration, 100% employee-owned company serving Hawai'i's building and home improvement industry.HPM operates 21 locations across Hawai'i and Washington, offering retail stores, design centers, lumberyards, roofing, and component manufacturing. hpmhawaii.com Hawaii Planing Mill, Ltd. HPM Design Centers; Truss Systems by HPM; HPM Building Supply

38 Central Pacific Financial Corp. 46 40

Central Pacific Bank, the primary subsidiary of Central Pacific Financial Corp. (NYSE: CPF), serves customers across Hawai‘i with a strong commitment to relationship banking, exceptional customer service, and secure financial solutions. www.cpb.bank Central Pacific Financial Corp. Central Pacific Bank

Per annual financial report.

H AWA I I B U S I N E S S

SPECIAL PROMOTIONAL SECTION

CENTRAL PACIFIC BANK

or more than 70 years, Central Pacific Bank has served the people and businesses that make Hawaii home. Founded by Nisei veterans returning from World War II who believed everyone deserved access to financial services, we continue their legacy by helping individuals, families, and our communities build brighter financial futures. As Hawaii's top-ranked bank on Forbes' America's Best-In-State Banks 2026 list, we're committed to delivering the personalized service, local expertise, and trusted relationships our customers have come to expect. We're honored that commitment has also been recognized by Newsweek,

which named us one of America's Best Regional Banks, and by Hawaii Business Magazine, which recognized CPB as one of the Best Places to Work in 2026. Whether you're growing a business, buying a home, opening your first account, building your wealth, or planning for what's next, our team takes the time to understand your goals and help you find the banking solutions that fit your needs. From business banking and home loans to everyday banking, private banking, and wealth management, we're here to support you every step of the way. Our commitment extends beyond banking. We proudly invest in Hawaii by supporting local entrepreneurs,

2026

expanding opportunities for homeownership, and partnering with organizations that help our communities thrive. No matter where life takes you, we got you.

Central Pacific Bank 220 S. King Street Honolulu, HI 96813 (808) 544-0500 cpb.bank

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

39 The Nakupuna Companies 38 50

The Nakupuna Companies are a Native Hawaiian Organization (NHO)–owned family of companies providing impactful solutions to our customers while supporting our Native Hawaiian community. nakupuna.com The Nakupuna Foundation Nakupuna Prime; Nakupuna Federal; Nakupuna Services; Nakupuna Consulting; Nakupuna Solutions; Na Ali‘i Consulting & Sales LLC

40 Hawaii Foodservice Alliance LLC 40 43

Wholesale food distribution, FSMA-compliant cold chain logistics via air, ocean, & trucking on all islands and West Coast. www.hfahawaii.com Hearth & Harvest Bread Company; Sun Hearth Eggs; Sun Hearth Dairy

Hawai‘i Gas

41 38

The only franchised gas utility in the State of Hawai'i since 1904. Gas energy is a critical part of Hawai'i's fuel mix, providing safe, affordable, resilient energy solutions. We are investing in and developing renewable energy projects hawaiigas.com Argo Infrastructure Partners LP

42 Adventist Health Castle 39 47

Adventist Health Castle is an award-winning integrated health system with a Level III Trauma medical center, outpatient primary care, specialty care, urgent care and home-care services throughout O‘ahu. The compassionate team of over 1,500 employees and providers unite under one mission: living God’s love by inspiring health, wholeness and hope. adventistheatlhcastle.org Adventist Health

43 Alaka‘ina Foundation 47 -

Dental benefits provider. HawaiiDentalService.com Delta Dental Hawaii Client Services

45 Humana 53 59

28 28

Company Ltd.

Life, annuity and disability insurance products. www.pacificguardian.com Meiji Yasuda Life Insurance Company

47 GEICO 45 46 1

Insurer of automobiles, motorcycles and personal umbrella liability. Agent for sales/service of property and boat insurance. www.geico.com

% CHANGE EMPLOYEES 2025 2025 2024 2024

$288.4 $287.5 $236.5

0.3% 21.6%

1,370 1,362

Chad Buck - Founder / CEO Stephanie Soll Buck - Co-Owner, CFO/CAO

$281.8 $266.8 $251.0

5.6% 6.3%

554 597

Alicia E. Moy - President, CEO Joanne Barradas - CFO Thomas Young - Exec. VP, Special Projects & Strategic Supply Nathan C. Nelson - VP, General Counsel, Sec. & Admin. Shawn Tasaka - VP of Operations Manu Bermudes - VP of Human Resources

$280.4 $265.6 $262.8

5.6% 1.0%

380 375

Chase Aalborg - President Kristina Clark - Patient Care Executive Robert Smitson - Medical Officer and Operations Executive Jonathan Just - Finance Officer Jesse Seibel - Mission and Administrative Executive

$278.9 $270.9 $246.1

3.0% 10.1%

820 797

James “Kimo” Bacon - VP and Exec. Director

$272.0 $250.0 $245.0

8.8% 2.0%

1,512 1,432

Diane S.L. Paloma - President and CEO Elaine Fujiwara - Chief Customer Officer Minna Lehti - COO Quin Ogawa - CFO

$261.5 $256.6 $248.1

1.9% 3.4%

133 132

Justin Y. Puckett - Hawai’i Market Leader

$260.8 1 $211.7 1 $161.7 1

23.2% 30.9%

Nobutaka Yagi - Chairman/President/CEO Christine Daleiden - SVP, General Counsel, Corporate Secretary

$260.0 $420.4 $366.8

-38.1% 14.6%

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

$253.7 1 $251.5 1 $247.8 1

0.9% 1.5%

Health insurance. www.humana.com

46 Pacific Guardian Life Insurance

SALES ($M) 2025 2024 2023

Cariann Ah Loo - Chair of the Nakupuna Foundation Jason Greenawalt - CEO Mike Fogle - President, Nakupuna Solutions Suzanne McDonald - President, Nakupuna Consulting

A Native Hawaiian Organization (NHO). www.alakainafoundation.org Ke‘aki Technologies; Laulima Government Solutions; Kūpono Government Services; Kāpili Services; Po‘okela Solutions; Kīkaha Solutions; Pololei Solutions

44 Hawaii Dental Service (HDS) 44 45

EXECUTIVES

113 119

Direct premiums written in Hawai‘i per DCCA.

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

48 Swinerton

General contractor. www.swinerton.com Swinerton, Inc.

37 36

49 Hawaii Medical Assurance

Association (HMAA)

49 52

51 39

Prince Resorts Hawaii Inc. (PRH) owns and operates three awardwinning luxury oceanfront hotels and championship golf courses including Prince Waikiki, The Westin Hapuna Beach Resort, Mauna Kea Beach Hotel, Autograph Collection, Hawaii Prince Golf Club, Hapuna Golf Course and Mauna Kea Golf Course. www.princeresortshawaii.com Seibu Holdings, Inc. Mauna Kea Resort Services; The Westin Hapuna Beach Resort; South Kohala Wastewater Corporation; Mauna Kea Beach Hotel; Mauna Kea Resort; Prince Waikiki

Hawaii Petroleum LLC

Wholesale and retail marketer of petroleum products and convenience stores. www.hawaiipetroleum.com Saltchuk Minit Stop Holdings LLC

50 42

52 Dorvin D. Leis Co. Inc. Full service mechanical contractor. www.leisinc.com

54 68

53 Moss

Moss was founded in 2004 and established its Hawai‘i office in 2014. Since 2014, Moss has built thousands of multifamily residences in Hawai‘i. Moss is also one of the leading EPC and renewable energy contractors on the island of Oahu. moss.com

57 -

54 Young Brothers LLC Interisland freight transportation. www.youngbrothershawaii.com Saltchuk Foss Maritime Company

56 55

55 Kaua‘i Island Utility Cooperative

Generation, transmission and distribution of electric services to member-owners. www.kiuc.coop KIUC Renewable Solutions One LLC; KIUC Renewable Solutions Two LLC; KIUC Renewable Solutions Two Holdings LLC

55 57

56 Allstate Insurance Co.

Insurance including property, casualty, life, commercial, group and individual, life and health, retirement and investment products. www.allstate.com

68 70

57 RBD Hawaii Restaurants Limited

Restaurant. www.tdfoodgroup.com Hawaii Pizza Hut Inc.; Taco Aloha Inc.; Pizza Hut of Guam Inc.; Pizza Hut of Saipan Inc.; TB Guam Inc.

60 61

Direct premiums written in Hawai‘i per DCCA.

AU G U S T 2 0 2 6

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Ben Steele - Operations Manager Aaron Yamasaki - VP, Division Manager Erika Mori - Chief Estimator

$249.0 $298.0 $288.0

-16.4% 3.5%

457 382

William C. McCorriston - President, CEO Dennis Kwan - CFO, COO, and Treasurer

$235.0 $228.0 $211.0

3.1% 8.1%

3 3

Shigeki Yamane - President Yusuke Ishii - Vice President Liane Sugimoto - CFO/CAO Craig Anderson - VP Operations Mauna Kea Resort

$234.9 $225.0 $259.0

4.4% -13.1%

1,580

Kimo Haynes - President Stephen Wetter - Senior VP of Operations Neda Khan - Controller/Treasurer

$218.8 $225.0 $252.0

-2.8% -10.7%

359 355

Stephen T. Leis - President, CEO Michelle Sigmund - CFO Michael St. Clair - Executive VP David Parke - VP Sachin Shah - VP of Engineering and Design-Build Nancy Leis Overton - VP Mandy Moikeha - Senior Operations Manager

$200.0 $201.0 $140.0

-0.5% 43.6%

497 525

Bruce Moldow Matthew Jun - Senior Vice President

$187.1 $174.6 $227.2

7.2% -23.2%

Steen Christensen - President Chris Martin - VP, Operations Kris N. Nakagawa - VP, External & Legal Affairs Bram Welsh - CFO

$180.0 $177.2 $173.7

1.6% 2.0%

420 412

Allan Smith - Chair David J. Bissell - President & CEO Erin Tsuda - Financial Vice President and Chief Financial Officer

$177.8 $185.4 $170.1

-4.1% 9.0%

143 143

Tom Wilson - CEO Mario Rizzo - CFO

$177.4 1 $155.7 1 $137.1 1

13.9% 13.6%

Kevin Kurihara - President

$177.1 $169.5 $159.5

4.5% 6.3%

Health insurance. www.hmaa.com

50 Prince Resorts Hawaii, Inc.

EXECUTIVES

1,739 1,955

Part of Hawaii for over 50 years As the Hawaii franchisee for Pizza Hut and Taco Bell, Restaurant Brands is proud to invest in our communities --modernizing restaurants, creating local jobs, and supporting organizations that strengthen our islands. Because being part of Hawaii means helping it thrive.

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

58 Kawailoa Development LLP 58 54

Property and casualty insurance. www.islandinsurance.com Tradewind Group, Inc. Island Premier Insurance Company, Ltd. ; Tradewind Insurance Company, Ltd.

60 Aloha Kia 62 -

Automotive dealership group - new and pre-owned vehicle sales, OEM parts, and comprehensive service center. www.alohakia.com Ken Garff Automotive Group Aloha Kia Kona; Aloha Kia Kauai; Aloha Kia Hilo; Aloha Kia Maui; Aloha Kia Leeward; Aloha Kia Airport

Kuakini Health System

61 60

Health care. www.kuakini.org Kuakini Medical Center; Kuakini Geriatric Care Inc.; Kuakini Foundation; Kuakini Support Services Inc.

62 Pharmacare Hawaii Inc. 66 62

67 64

Ready-to-wear apparel, gift shops, non-residential building investments, wholesale distribution of T-shirts and Hawaiian gift items. Happy Shirts Inc.; Watumull Properties Corp.; New American TShirt Co.

64 Halekulani Corporation 69 67

Halekulani Corporation owns and operates the globally acclaimed luxury resort Halekulani and luxury boutique hotel Halepuna Waikiki by Halekulani in Hawai‘i. Halekulani represents a luxury hospitality legacy of unique and iconic proportions and has been globally recognized with more than 500 awards. www.halekulani.com, www.halepuna.com Mitsui Fudosan America Inc. Halekulani; Halepuna Waikiki

65 MJC Inc. dba Cutter Automotive 63 58

Galleries

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

66 Maui Oil Company -

The largest Hawai'i family-owned distributor of fuel, lubricants, and related services. Operations across Hawai'i include wholesale and retail distribution, warehouse, transport, fleet fueling, car wash, equipment, and services. Serving construction, aviation, marine, military, and fleet customers. www.mauioil.com Hawaiian Isles Petroleum, LLC; Lanai Oil Company, Inc. ; Big Island Energy Company LLC; GP Energy Company LLC

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$175.3 $170.2 $175.7

3.0% -3.1%

824 918

Tyler M. Tokioka - Chairman of the Board Scott A Kuioka - President

$172.5 $158.6 $150.4

8.8% 5.5%

125 140

John Garff - President Brett Hopkins - CEO Phil Johnson - CFO Dax Derop - COO Russell Wong - Regional VP

$171.6 $167.0 $57.5

2.7% 190.3%

198 208

Gregg Oishi - President, CEO Tony Okano - SVP, CFO Paul Kosasa - Board Chair

$166.5 $169.0 $156.9

-1.4% 7.7%

754 748

Byron N. Yoshino - President, CEO

$166.5 $158.6 $157.4

5.0% 0.7%

143 165

JD Watumull - President Jojo Watumull - VP Vik Watumull - VP Jared Watumull - Managing Dir.

$163.2 $158.3 $153.0

3.1% 3.5%

Peter E. Shaindlin - COO Shigeto Aoki - Senior VP Masahiro Yaguchi - Senior VP, Sec./Treas. Patricia Tam - Chief Executive Advisor

$160.0 $155.0 $145.1

3.2% 6.8%

684 691

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

$158.5 $165.9 $167.5

-4.5% -1.0%

272 241

Alec McBarnet - Chairman and President Sandy Baz - Chief Executive Officer Royle Taogoshi - Chief Financial Officer Sayble Bissen - Chief Sales and Marketing Officer

$152.4 $168.6 $172.6

-9.6% -2.3%

134 121

We are a local pharmacy that provides services for high cost specialty medication, IV therapy and tube feeding outside the hospital. We also provide contracted services for medication management in long term care homes and facilities. www.pharmacarehawaii.com Pharmacy Partners LLC dba Pharmacare LTC; Synergy MedSolutions LLC; Value Drug Ltd.; Pharmacare International Inc.

63 Watumull Brothers Ltd.

SALES ($M) 2025 2024 2023

Hiroki Matsuda - Director

Resort and golf course. www.poipubaygolf.com, www.grandhyattkauai.com Poipu Bay Golf Course; Grand Hyatt Kauai Resort & Spa

59 Island Insurance Company, Ltd. 65 65

EXECUTIVES

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

Hawaii State Federal Credit Union

Andrew Rosen - President & CEO Aaron Vallely - EVP & Chief Operating Officer Warren Keone Altona - EVP & Chief Growth Officer Christopher Hodges - SVP & Chief Financial Officer Ashley Noji - SVP & Chief Marketing Officer

$152.0 $120.5 $100.1

26.1% 20.4%

378 379

Michael E. Latham - President Sunny Donenfeld - VP for Finance and Operations Noelehua Leonie Lyons Archambault - VP, Institutional Advancement Raquel "Kelly" Hicks - Chief HR Officer Gustavo Carrera - Academy Principal Todd Chow-Hoy - Junior School Principal

$144.5 $142.8 $133.9

1.2% 6.7%

750 737

Tim Dolan - University of Hawai‘i VP of Advancement and UH Foundation CEO Karla Zarate-Ramirez, CFRE - VP for Development Christine Koo - VP for Advancement Services and Administration John Han - COO & CFO

$141.5 $86.6 $74.2

63.4% 16.7%

118 108

Ronald K.B. Yee - President and CEO Bruce Kugiya - Senior VP Cy Masatsugu - Exec. VP Erwin Viloria Mateo - Exec. VP

$134.4 $110.0 $97.0

22.2% 13.4%

412 350

75 84

Member-owned nonprofit credit union providing financial services to individuals and families across Hawai‘i. www.hawaiistatefcu.com

68 Punahou School 70 72

Primary and secondary education. www.punahou.edu

69 University of Hawai‘i Foundation 95 107

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. www.uhfoundation.org

70 Wasa Electrical Services Inc. 80 87

Electrical work. www.wasahawaii.com US Kinden Corp.

AECOM

71 76

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

Martin A. Nakasone - VP, Area Manager Leighton Wong - VP, Environment

$133.0 $140.0 $116.0

-5.0% 20.7%

242 238

HawaiiUSA Federal Credit Union

Greg Young - President, CEO

$127.0 $121.3 $108.4

4.7% 11.9%

346 360

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

$125.5 $169.7 $98.6

-26.0% 72.1%

335 300

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

$120.3 $120.6 $125.2

-0.2% -3.6%

358 363

Clyde Matsusaka - Exec. Director/Hawai‘i Market Manager

$120.0 $107.0 $97.7

12.1% 9.5%

124 125

John Y. Gotanda - President

$118.6 $112.0 $93.9

5.9% 19.2%

480 501

73 79

As a nationally and locally acclaimed, award-winning credit union, HawaiiUSA Federal Credit Union serves individuals and businesses through 13 branch locations statewide and convenient online services, and is dedicated to the financial wellness of more than 130,000 members. www.hawaiiusafcu.com

73 Coastal Construction Co. Inc. 59 85

General building contractor. www.coasthi.com

Maui Varieties Ltd. / HouseMart Stores

74 74

Retail hardware and crafts stores, imports and exports. www.hmstores.com Deans Inc.; Seattle Ace LLC (5 stores); Las Vegas Ace LLC (2 stores); ACE Hardware Hawaii Inc. (16 stores); 3Katto LLC (4 Daiso Hawaii stores); BFS Inc. (6 Ben Franklin Crafts)

75 Morgan Stanley Wealth Management 81 86

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

76 Hawai‘i Pacific University 78 90

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

H AWA I I B U S I N E S S

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

Hawaii Employers' Mutual Insurance Co. (HEMIC)

Tammy Teixeira - Executive Vice President, Chief Operating Officer Martin J. Welch - CEO Jason T. Yoshimi - President, CFO Regina Harris - SVP, Business Operations Faye Bueno - SVP, Human Capital Administration Paul Naso - Chief Legal Officer

$112.3 $110.8 $104.8

1.3% 5.8%

120 120

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

$110.0 $105.0 $105.0

4.8% 0.0%

406 404

John Morgan - President, CEO

$109.6 $92.2 $89.3

18.9% 3.2%

508 470

Timothy E. Johns - President and CEO; Trustee, Parker Ranch Foundation Trust Garet Azama - Chief Operating Officer

$108.7 $104.1 $72.5

4.4% 43.6%

20 20

Matthew Elvin - CEO/President Michael Souza - Equipment Mgr. Veronica Leong - Accounting Mgr. Jeorge Vila - Island Wide Sales Mgr.

$108.3 $105.5 $88.0

2.6% 19.9%

146 136

Richard Bettini - President & CEO Cindy Yee - CFO

$106.6 $100.5 $94.4

6.1% 6.5%

671 518

Leslie K. Isemoto - Chairman & President

$104.5 $87.6 $81.4

19.3% 7.6%

204 178

84 Allied Builders System, Inc. 1

Gary E. Oda - President Justin K. Izumi - VP–Allied Builders System

$98.0 $64.0 $108.2

53.1% -40.9%

69 62

85 VIP Foodservice

Nelson Okumura - President Alton A. Nakagawa - VP Finance, Secretary Roger Tacdol - Treas., Controller

$97.0 $92.0 $104.0

5.4% -11.5%

166 166

79 82

HEMIC is Hawai‘i’s leading provider of workers’ compensation insurance, providing innovative risk management solutions. Our family of companies offers comprehensive products and services to protect Hawai‘i businesses and their workers, including commercial and temporary disability insurance and multiline TPA services. Our staff and operations are 100% local. We are rated A (excellent) by AM Best. www.HEMIC.com HEMIC Insurance Managers Inc. (HIMI); Employers' Protective Insurance Co. (EPIC)

78 Na Hoku, Inc.

Na Hoku, Hawai‘i's Finest Jewelers Since 1924. Fine jewelry designer, manufacturer and retailer. www.nahoku.com Pearl Factory - Hawai‘i's Original Pearl-in-the-Oyster

83 81

79 Kualoa Ranch Hawaii Inc.

Visitor attraction and recreational activities, cattle ranching, diversified agriculture and real estate. www.kualoa.com

90 94

80 Zephyr Insurance Co. Inc. 84 110

Residential hurricane and homeowners insurance. www.zephyrinsurance.com HI Holdings Inc.

Bacon-Universal Co. Inc.

Construction, agriculture & industrial equipment sales and rentals distributor, related repairs, parts and services. www.baconuniversal.com Invision Capital Vertical Technologies; LBR Solar LLC

82 97

82 Waianae Coast Comprehensive

Health Center

86 89

The Waianae Coast Comprehensive Health Center is the oldest and largest federally qualified health center in Hawai‘i. For 53 years, WCCHC has served more than 35,000 patients across West Oahu including Waianae, Nanakuli, Kapolei, Ewa, and Waipahu offering medical, dental, vision & behavioral health. www.wcchc.com 'Elepaio Social Services

83 Isemoto Contracting Co. Ltd. 93 101

115 80

General contractor for commercial buildings and renovation projects. www.abshawaii.com

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

91 83

General contractor: woodframe, concrete, masonry structures, heavy site excavation, road and highway construction, water, sewer and drainage construction, golf courses. Government and commercial buildings.

Appeared on previous lists as RAM Corporation.

AU G U S T 2 0 2 6

SPECIAL PROMOTIONAL SECTION

CHAMINADE UNIVERSITY OF HONOLULU

Invest in Your Employees. Strengthen Hawai‘i’s Future.

hen Bank of Hawai‘i employees Rita Aponte and KerryLynn Vea decided to complete their bachelor’s degrees, they didn’t have to choose between advancing their education and advancing their careers. Through the bank’s educational partnership with Chaminade University, both earned their degrees through Chaminade Flex Online while continuing to work full time. Their success reflects a growing opportunity for Hawai‘i employers. In today’s competitive workforce, organizations are looking for meaningful ways to recruit, retain and develop talented employees. Educational partnerships with Chaminade University help organizations do exactly that— creating pathways for employees to earn degrees, develop new skills and prepare for leadership while remaining in the workforce.

Chaminade partners with businesses, healthcare organizations, schools, nonprofits and community organizations across Hawai‘i to expand access to higher education through reduced tuition, flexible online learning and personalized admissions support. For employers, these partnerships strengthen employee benefits, improve retention and help build talent from within. For employees, they make earning a degree more achievable without putting careers on hold. Designed for working adults, Chaminade’s undergraduate and graduate programs are offered in high-demand fields including business, education, healthcare, nursing, counseling, psychology, criminal justice, public health and organizational leadership. Coming soon, Chaminade will introduce a 90-credit Bachelor of Science in Management through its Flex Online model. Created for adults with prior college credit, the program offers an accelerated pathway to completing a bachelor’s degree. For employers, it provides an opportunity

2026

to invest in experienced employees who are ready for greater responsibility but need a degree to take the next step. As Hawai‘i’s only Catholic university, Chaminade is committed to preparing ethical leaders who strengthen our communities. By partnering with local employers, we are helping build a stronger workforce, creating opportunities for employees and investing in Hawai‘i’s future. Interested in becoming a Chaminade educational partner? Visit chaminade.edu/partnerships/

Lisa Trumbull Assistant Vice President for Enrollment Management & Community Partnerships (808) 739-7424 lisa.trumbull@chaminade.edu

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

86 JBG Corporation

Marine cargo handling. www.mhrhawaii.com Shoreside Maritime Services LLC; McCabe, Hamilton & Renny Co. Ltd.

87 88

87 Stoebner Holdings Inc.

Retail and wholesale automobile sales, parts and service, body shop and car wash. www.hondawindward.com Honda Windward (dba); Windward Auto Spa; Honda Windward Auto Body

88 98

88 DB Insurance Co. Ltd.

89 Royal Contracting Co. Ltd.

90 Bowers + Kubota Consulting Inc. 100 108

Engineering and architecture design, construction management, project management, program management, and asset management www.bowersandkubota.com

Layton Construction

77 115

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 since 2005, with offices on O‘ahu and Kaua‘i. www.laytonconstruction.com STO Building Group

92 HawkTree International Inc. 99 109

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

93 I. Kitagawa and Co. Ltd.

-0.7% 3.3%

415 337

Michael Stoebner - General Mgr. and Pres. Sandra D. Kalahiki - VP, Controller

$96.5 $95.2 $87.8

1.3% 8.4%

110 110

Jeong-Nam Kim - President, CEO

$95.3 1 $100.7 1 $109.0 1

-5.4% -7.6%

Leonard K.P. Leong - President

$95.0 $88.7 $121.2

7.1% -26.8%

131 145

Brian Bowers - President/CEO Kathleen Chu - VP Mike Kamaka - VP Myong Choi - Principal Dan Keeley - Principal HD Lee - Principal Amy Matsushima - Principal Todd Niemann - Principal Jay Stone - Principal Kate Teruya - Principal

$92.3 $81.6 $73.5

13.0% 11.1%

300 300

Eric Nay - Executive VP Steven Brecker - Executive VP Zachary Taylor - VP, Operations Michael Parker - Director of Preconstruction Jared Higashi - Director of Business Development

$92.2 $113.3 $64.3

-18.6% 76.2%

55 50

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

$90.0 $82.0 $73.0

9.8% 12.3%

481 470

Nan I. Kitagawa - President

$89.2 $87.1 $88.3

2.4% -1.4%

179 179

Terry George - CEO & President Michelle Ka‘uhane - COO/Exec VP Wallace Chin - Sr. VP & Chief Administrative Officer Kawena Suganuma Beaupré - Sr. VP & General Counsel Mary Leong Saunders - VP of Philanthropy Larissa Kick - VP of Community Grants & Initiatives Lynn Shimono - VP of Finance Michelle Hee - VP of Strategic Communications Keanu Lau Hee - VP of Community Resilience & Strategic Implementation

$88.0 $114.1 $244.9

-22.9% -53.4%

86 83

Retail automotive dealerships, auto parts stores. ikandco.com Kona Auto Center Inc.; Parts Center Hawaii Inc.; Kama‘aina Nissan Inc.; Kama‘aina Motors

94 95

94 Hawai‘i Community Foundation Nonprofit community foundation. www.hawaiicommunityfoundation.org

76 48

Direct premiums written in Hawai‘i per DCCA.

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$96.9 $97.6 $94.4

General contractor. www.royalcontracting.com

92 75

SALES ($M) 2025 2024 2023

Matt Guard - President, McCabe, Hamilton & Renny Co. Ltd. Camy Chin-Meun - VP, McCabe, Hamilton & Renny Co., Ltd. Kevin Cutter - VP Operations, McCabe, Hamilton & Renny Co., Ltd. Kim Hudson Chock - CFO, McCabe, Hamilton & Renny Co., Ltd.

Insurance company. www.dbinsus.com

85 78

EXECUTIVES

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

95 Gentry Homes Ltd. 97 69

Real estate development. www.gentryhawaii.com Gentry Ewa Villages LLC; Gentry Kalaeloa LLC; Gentry Investment Properties; Gentry Kapolei Development LLC; Gentry Maui Development LLC; Gentry KGC LLC; Gentry Builders LLC

96 Suisan Group Inc. 98 99

'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

98 Ralph S. Inouye Co. Ltd. 109 120

General contractor for new construction and renovations. www.rsinouye.com

99 Shioi Construction Inc. dba Creative 118 121

Partition Systems General contractor. www.shioihawaii.com Creative Partition Systems

100 Alaka‘i Mechanical Corp. 103 92

Specialty contractor. www.alakaimechanical.com Taisei Oncho Co. Ltd.

101 MC&A, Inc. 105 93

Destination management company. www.mcadmc.com JTB Americas MC&A Event Rentals; HawaiianIslesConcierge; Diamond Head Vacations

102 Chaminade University of Honolulu 110 122

Nonprofit post-secondary education. Undergraduate, graduate and doctoral degree programs. chaminade.edu

103 Group Builders Inc. 108 106

Specialty contractor for drywall, carpentry/millwork, cabinetry, plastering, acoustical and insulation, fireproofing, exterior insulation finish system. www.groupbuilders.net

104 Pflueger Inc. 112 111

111 103

Retailer of home furnishings. www.cswo.com R.C. Wo & Sons, LLC apt. by homeworld (dba); HomeWorld (dba); Red Knot (dba); C. S. Wo (dba); Ashley (dba); SlumberWorld (dba)

% CHANGE EMPLOYEES 2025 2025 2024 2024

$87.4 $84.5 $138.3

3.5% -38.9%

45 45

Stephen N. Ueda - Chair, Pres., CEO

$83.3 $83.3 $84.3

0.0% -1.2%

135 149

Melanie Pfingsten - Interim Head of School Reid A. Gushiken - CFO

$81.2 $80.5 $75.4

0.9% 6.8%

465 460

Blake T. Inouye - President & CEO Wesley Mikuni - VP & CFO Mark Tagami - VP & COO Michael Inouye - VP Business Development

$80.6 $71.2 $60.5

13.2% 17.7%

78 66

Roy Y. Shioi - President Preston Lingaton - VP Conrad H. Murashige - Chair Diana Jenkins - Treas.

$79.8 $61.2 $59.3

30.3% 3.2%

262 250

Kanemitsu Mori - Chairman Ralph T. Inouye - CEO Ryan Ando - President Joe Barrios - Exec. VP Dayne Matsumoto - VP Hideo Mizutani - Sec./Treas.

$78.8 $77.6 $91.2

1.6% -15.0%

236 250

Eduardo Kina - President & CEO Johan Marzuki - Exec. VP and General Manager Michelle Ramos - CFO Heather Bailey - VP of Operations Jamie Gold - VP of Sales and Industry Relations

$77.4 $76.0 $91.0

1.8% -16.5%

120

Lynn Babington - President Lance Askildson - Provost and Sr. VP of Academic Affairs Aulani Kaanoi - CFO and Sr. VP

$74.0 $70.8 $61.5

4.5% 15.1%

297 290

Anacleto R. Alcantra - President Amado Jaraba Sanchez - CEO/RME Nestor Lazo - COO Tiffany Trang - CFO

$70.3 $70.1 $75.0

0.3% -6.5%

276 305

Alan Pflueger - President

$70.1 $68.6 $72.1

2.2% -4.8%

92 88

Michael Wo - President Kelsey Wo - VP Damian Pherigo - VP

$70.0 $70.0 $76.0

0.0% -7.9%

210 202

New and used Honda automobile sales, leasing, parts and service. www.PacHonda.com Pacific Honda (dba)

105 C. S. Wo & Sons, LLC

SALES ($M) 2025 2024 2023

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

Wholesale frozen foods, dry groceries, non-food disposables, wholesale and retail fresh fish. www.suisan.com Suisan Company Limited; Suisan Properties Limited

97 ‘Iolani School 101 105

EXECUTIVES

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

106 WestPac Wealth Partners 123 134

WestPac Wealth Partners is a privately-held wealth management firm, founded with the intent to assist our clients in every aspect of their financial lives. Our focus centers on our clients' vision for their future to create a lasting impact on their wealth potential. We are uniquely positioned to offer our clients access to one of the most comprehensive financial product platforms available today. www.westpacwealth.com WestPac Wealth Partners

107 Paradigm Construction LLC 136 151

New and used car dealers, auto parts and services. www.kuhioautogroup.com Kuhio Nissan; Kuhio Ford; Kuhio Mazda; Kuhio Hyundai; Kuhio Kustoms; Kuhio Chevrolet

109 Coldwell Banker Realty 131 129

120 118

Physical security services, technology integration, mobile patrols, alarm response, and remote video monitoring. www.securitasinc.com Securitas AB

112 City Mill Company Ltd. 114 113

Retail home-improvement centers, investments and real estate. www.citymill.com Rainbow State Paint

113 Aloha Pacific Federal Credit Union 126 127

Credit union. www.alohapacific.com CUSO of Aloha Pacific Financial Group; CUSO of Hawaii Properties LLC dba Aloha Pacific Premier Realty; CUSO of Hawaii Services LLC

114 REHAB Hospital of the Pacific 119 125

15.2% 30.4%

380 350

Alex M. Kwon - President

$67.1 $48.0 $36.1

39.9% 32.7%

70 60

Ryan Mackey - President Cheryl Itamura - CFO Aaris Berry - GM

$66.3 $62.7 $66.4

5.8% -5.6%

97 97

Mike James - President – Hawai‘i

$65.2 $50.9 $49.2

28.0% 3.5%

Wesley Lo - CEO

$62.5 $59.7 $51.2

4.7% 16.6%

335 323

Michael Gaul - Vice President - Hawaii Area Albert 'Spike' Denis - Principal Licensee and Consultant

$62.3 $60.0 $55.0

3.8% 9.1%

1,005

Shari Komo-Matsueda - President Evan Killips - Managing Director Steven C. Ai - Chairman Kevin Nishida - CFO Carol Ai May - VP, Secretary

$61.7 $65.0 $71.2

-5.1% -8.7%

165 203

Gary Iwai - Board Chair Vince J. Otsuka - President, CEO

$61.5 $54.4 $51.7

13.1% 5.2%

172 165

Stephanie Nadolny - President, CEO Wendy Manuel - VP, COO, CFO Brian Ingold - Chief Information Officer Shari Ann Oshiro - VP, Chief Medical Officer Mario Rodriguez - VP of Clinical Services

$61.0 $60.1 $52.8

1.6% 13.8%

297 219

Skilled-Nursing, rehabilitation, home health services; adult day health services; short-term respite services; adult residential care home; long-term care; care management www.halemakua.org Hale Makua Health Services Hale Makua Adult Day Health; Home Health Maui; Hale Makua Foundation

111 Securitas Security Services USA, Inc.

Comprehensive inpatient and outpatient physical and medical rehabilitation services. www.rehabhospital.org REHAB at Nuuanu; REHAB at Hilo; Rehabilitation Hospital of the Pacific; Rehabilitation Hospital of the Pacific Foundation; REHAB's Physicians Clinic

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$67.3 $58.4 $44.8

Real estate. www.coldwellbankerhomes.com Anywhere Advisors LLC Coldwell Banker Realty

110 Hale Makua Health Services

SALES ($M) 2025 2024 2023

Nash Subotic - CEO Spencer Dung - Managing Director

Paradigm Construction LLC specializes in heavy civil construction such as subdivisions and roadways, which include grading work, structural walls, and major utility lines. www.paradigmhi.com

108 Kuhio Auto Group 116 114

EXECUTIVES

SPECIAL PROMOTIONAL SECTION

HAWAIIUSA FEDERAL CREDIT UNION

s HawaiiUSA Federal Credit Union approaches its 90th anniversary, its founding purpose remains as relevant today as it was in 1936. Established by a group of local educators who believed financial well-being creates stronger communities, HawaiiUSA has spent nearly nine decades helping generations of Hawaii residents build brighter financial futures. That legacy continues to guide the credit union's work today. While financial services have evolved, HawaiiUSA's commitment to empowering students, educators, families, businesses, and communities through financial wellness remains at the heart of everything it does. Education has always been a cornerstone of that mission. Recognizing that strong schools help build strong communities, HawaiiUSA remains deeply committed to supporting educators at every stage of their careers. Through financial wellness programs, scholarships,

classroom resources, community partnerships, and personalized financial guidance, the credit union empowers teachers, school employees, and education professionals to achieve their financial goals while continuing the important work of shaping Hawaii's future generations. Since 1990, HawaiiUSA has also awarded 604 scholarships totaling more than $931,500 to help local students pursue higher education. HawaiiUSA's commitment extends directly into local schools through its long-running Student Operated Credit Union (SOCU) program, which gives students hands-on experience with financial responsibility while developing leadership and workplace skills. Beyond the classroom, the credit union partners with schools, nonprofits, and community organizations to deliver free financial education and trusted financial guidance to thousands of individuals each year. That same spirit of service is reflected in HawaiiUSA's broader community investments. Whether supporting organizations that strengthen families, expand

2026

economic opportunity, or address critical community needs, the credit union continues to invest its time, resources, and expertise where they can make a lasting impact. Today, HawaiiUSA serves more than 130,000 members statewide while remaining true to the vision that inspired its founders nearly 90 years ago. By combining personalized financial guidance with meaningful community partnerships, the credit union continues to demonstrate that financial wellness is about more than banking, it's about helping people thrive and strengthening Hawaii for generations to come.

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

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

115 CBIP Inc. dba Coldwell Banker Island 117 119

117 Merrill Lynch 135 133

Merrill Lynch Wealth Management offers personalized financial advice, investment strategies, and banking services to help clients grow and preserve wealth, backed by the strength and resources of Bank of America. local.ml.com/honolulu Bank of America

118 New City Nissan - Rosebridge LLC 121 117

134 139

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

121 Hawai‘i Life Real Estate Services LLC 124 -

Retail & wholesale hardware stores, home centers and lumber yards. www.hardwarehawaii.com HH Holdings Inc. Hardware Hawaii Kailua, Kapolei, Kauai and Mapunpuna are each an LLC

123 HFS Federal Credit Union 139 144

Federal credit union. www.hfsfcu.org

124 Catholic Charities Hawai‘i 113 100

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

125 Hawai‘i Foodbank Inc. 133 137

Su Yi - Director Allen Kam - Vice President Jack Shriver - Senior Vice President Mike Kawaharada - Senior Vice President Kevin Luoma - Senior Vice President

$59.3 $44.2 $32.8

34.1% 34.7%

19,497 14,249

Jesse Sheley - Director, Market Executive Andrew Meade - Sr. VP, Resident Director

$59.2 $48.0 $47.0

23.3% 2.1%

100 110

Wesley Fujimoto - Secretary

$58.1 $59.3 $62.6

-2.0% -5.3%

75 85

Wayne K. De Luz - President

$55.9 $48.5 $42.0

15.3% 15.5%

53 56

Todd Y. Williams - President Ann Takamori - VP, Admin., Controller Pono Paahao - VP, Service Kerry Borthwick - General Manager, Elevator

$55.0 $56.9 $49.1

-3.3% 15.9%

150 152

Matthew G. Beall - CEO, Founder

$54.8 $58.3 $52.9

-6.0% 10.2%

43 47

Byron L. Ige - President Dora Myhre - Dir. of Retail Operations Gerardo "Geri" Molina - Dir. of Sales Harold S. Levy - Dir. of Lumber Operations

$54.0 $51.4 $52.3

5.0% -1.7%

165 158

Gerald Takase - Board Chair Nathan N. Abe - President, CEO

$52.7 $45.1 $38.4

16.9% 17.6%

125 121

Tina L. N. Andrade - President & CEO Anh Nguyen - Chief Operating Officer Stella M.Q. Wong - VP - Programs Be-Jay Kodama - VP of Philanthropy Shellie Niles - VP- Mission

$52.5 $65.4 $84.2

-19.7% -22.4%

278 297

Amy Miller - President and CEO John Joseph Klosterman - VP and COO Curtis S Leong - VP and CFO Rowena Browne - VP of Development Marielle Terbio - VP of Strategy and Programs

$52.4 $49.8 $43.1

5.1% 15.7%

75 74

Real estate sales, long-term and vacation rentals. www.hawaiilife.com Real Life Hawaii LLC

122 Hardware Hawaii 129 126

99 114

New and used car dealership. www.bigislandmotors.com Big Island Motors

120 Heide & Cook, LLC 125 130

-3.1% 3.5%

Retail new and used automobiles, sales and service. www.newcitynissan.com

119 Hilo-Kona Subaru Hyundai

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

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$59.8 $61.6 $59.6

Residential real estate, property management, vacation rental management, mortgage title and escrow. www.islandproperties.com Coldwell Banker Island Vacations

Professional services firm providing program management, engineering, advisory and environmental consulting for infrastructure, transportation, and building projects. www.wsp.com WSP USA

SALES ($M) 2025 2024 2023

Steve Houle - CEO

Properties

116 WSP USA -

EXECUTIVES

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

126 Mid-Pacific Institute 127 -

Health care service. www.mauimedical.com

128 Gather Federal Credit Union 146 154

Federal credit union. www.gatherfcu.org

129 Connext, LLC 173 198

The future of global staffing. Connext helps companies build custom, dedicated support teams in the Philippines, Colombia, India, and Mexico. www.connextglobal.com

130 Hawaii Water Service 141 140

Hawaii Water provides high-quality water to thousands of Hawaii residents and visitors. Our services include water distribution system construction and maintenance, meter-reading and billing, water quality testing and treatment, wastewater treatment, and customer education programs focused on water quality and conservation. hawaiiwaterservice.com California Water Service Company Kalaeloa Water Company; Kona Water Service Company; West Hawaii Utility Company; West Hawaii Sewer Company; West Hawaii Water Company

131 Hawaii National Bank 138 146

Financial institution. hawaiinational.bank Hawaii National Bancshares Inc.

132 Sen Plex Corp. 147 148

Mechanical contracting, air-conditioning maintenance and plumbing service. www.senplex.com Oahu Plumbing & Sheet Metal Ltd.; Oahu Air Conditioning Service Inc.

133 American Electric Co. LLC 137 138

Electrical contracting and services. www.americanelectric.com Olgoonik Development LLC

134 Fujikawa Associates Inc. 182 159

Mechanical contractor. www.contmech.com Continental Mechanical of the Pacific

135 Kāhala Senior Living Community, Inc. 142 141

dba Kāhala Nui

Life plan community. kahalanui.com Kāhala Nui Senior Living, Inc. Hiolani Care Center; Live Well At Iwilei by Kāhala Nui

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Paul A. Turnbull - President

$51.5 $53.5 $55.7

-3.7% -3.9%

264 261

George E. Powell, M.D. - President Clifford Alakai - Administrator Sarah Ford - Controller

$49.8 $50.5 $49.1

-1.4% 3.0%

257 255

Tess K. Shimabukuro - President, CEO Kent Kikuchi - Board Chair

$48.4 $41.8 $34.8

15.7% 20.2%

95 93

Tim Mobley - President Taylor Goucher - VP of Sales and Marketing Scarlett Diaz - Dir. of Client Strategy

$47.5 $30.0 $17.2

58.3% 74.8%

2,300 1,700

John Kaniala Kadowaki - Operations Mgr. Geoffrey Fulks - GM Henry Giltner - Assistant GM

$46.0 $44.6 $41.0

3.2% 8.7%

48 48

Bryan K. Luke - President, CEO Ricky R.K. Ching - Exec. VP, CFO Warren K.K. Luke - Chairman

$45.5 $45.2 $37.5

0.8% 20.3%

151 152

Brian Sen - President Jack Cai - VP Ramon Bonoan - VP

$45.3 $40.1 $37.0

13.0% 8.3%

122 127

Ray Hose' - President Roland Calimlim - VP Operations Marco Baca - Sr. Controller

$45.0 $47.6 $43.0

-5.5% 10.7%

185 164

Robert K. Fujikawa - President Samuel Fujikawa - CEO

$45.0 $25.0 $32.7

80.0% -23.5%

110 80

Craig R. Courts - President & CEO Audrey Morabito - VP & CFO Maria Kinsler - VP & COO

$45.0 $44.3 $40.8

1.6% 8.6%

214

Pre-K to 12 independent school. www.midpac.edu

127 Maui Medical Group Inc. 132 131

EXECUTIVES

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

136 RevoluSun Smart Home / -

RevoluSun LLC

181 188

148 155

Nonprofit human service agency. www.higoodwill.org

140 Hawaiian Financial Federal Credit 149 153

Union

Credit union. www.hificu.com

141 Armstrong Builders LLC 122 96

Maui Economic Opportunity, Inc. (MEO), chartered in 1965, is a private non-profit Community Action Agency. MEO provides outreach, information and transportation, and administers a variety of human service programs to strengthen the community while helping people in need. www.meoinc.org

143 Pleasant Holidays LLC 143 132

Tour operator, travel services and Hawai‘i destination activities. www.pleasantholidays.com

144 Crum & Forster 151 145

Walter Thoemmes III - President & CEO

$44.6 $47.0 $33.1

-5.2% 42.0%

179 177

Colin Yoshiyama - President

$44.2 $25.4 $20.5

73.8% 24.3%

51 37

Katy Y. Chen - President, CEO Casie Bui - COO Brent H. Arakaki - CFO

$44.2 $41.4 $34.1

6.6% 21.5%

488 465

Norman Okimoto - President Anna Arii - Sr. VP - Administration Paulette Ito - Sr. VP - Marketing

$43.9 $38.6 $35.0

13.8% 10.1%

93 96

James R. Keller - President

$43.0 $58.5 $88.2

-26.5% -33.7%

89 92

Debbie A. Cabebe - CEO Maggie Batangan - Executive Director

$42.8 $51.3 $21.9

-16.6% 134.0%

249 247

David Hu - President & CEO Denis Fastert - COO Beth Nickerson - VP Product & Partner Relations Amy Terada - VP Marketing Mark A. Klaschka - VP, Managing Director Hawaii

$42.3 $44.0 $48.0

-3.9% -8.3%

65 74

Shannyn Kott - VP

$42.0 $38.0 $37.7

10.5% 0.7%

32 30

Amanda Pump - President & CEO Anne Marie Rizzo - Chief Advancement Officer Robert Boyack - Chief Program Officer Tim Casey - Chief People Officer Kainalu Severson - Chief Risk & Operating Officer Gregory Chang - Chief Financial Officer

$39.2 $37.2 $33.6

5.2% 10.9%

343 397

Property and casualty insurance. www.cfins.com Fairfax Holdings, Ltd. Crum & Forster Indemnity Company; The North River Insurance Company; United States Fire Insurance Company

145 Child & Family Service 154 156

132 162

Established in 1976, Armstrong Builders LLC is an award-winning, integrated, multi-disciplinary construction company dedicated to outstanding service and craftsmanship. The company's work spans various markets specializing in custom and luxury home building, workforce housing, design-build/design-assist, resort communities, and commercial construction. It operates solely in Hawaii. www.armstrongbuilders.com Armstrong Pacific ; Armstrong Design Group

142 Maui Economic Opportunity Inc. 130 181

-2.8% -29.2%

General contracting. constructorshawaii.com

139 Goodwill Hawaii

Human services. www.childandfamilyservice.org CFS Real Property Inc.

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$44.7 $46.0 $65.0

The YMCA of Honolulu serves thousands of people of all ages and backgrounds annually through youth, health, and community programs at 10 Y locations and 115 program sites. www.ymcahonolulu.org The National Council of Young Men's Christian Associations of the United States of America

138 Constructors Hawaii Inc.

SALES ($M) 2025 2024 2023

Joshua F. Powell - CEO, RME Eric Carlson - Chief Innovation Officer

Design and installation of residential- and commercial-scale solar energy, energy storage and smart-home, energy-efficiency products. www.revolusun.com

137 YMCA of Honolulu 164 165

EXECUTIVES

SPECIAL PROMOTIONAL SECTION

HEMIC

EMIC was founded in Hawai‘i, for Hawai‘i, nearly 30 years ago when our state faced an insurance crisis with workers’ compensation. HEMIC was formed as a mutual insurance company to solve that problem, guided by a mission of service and a structure of partnership. Since then, HEMIC has grown into a family of companies providing local solutions for our islands’ evolving needs. In everything we do, we are inspired by a deep sense of kuleana. Each of our companies plays a unique role in supporting Hawai‘i’s workers, businesses, and communities. HEMIC is the State’s leading provider of Workers’ Compensation. We offer a safety credit program, online Safety Suite, safety and risk management consulting services, and nurse triage hotline at no additional cost to policyholders. Our customizable large deductible program serves large employers who seek to assume

2026

a portion of their insurance risk while benefiting from HEMIC’s expertise in claims, safety, and risk management. Employers’ Protective Insurance Company (EPIC) is Hawai‘i’s fastest-growing provider of Temporary Disability Insurance, with efficient claim handling managed entirely by our local team. EPIC's early claim involvement means quicker payouts for qualifying claims. Known for our exceptional customer service, EPIC’s average claimant satisfaction survey score is 5.96 out of 6. HEMIC Insurance Managers, Inc. (HIMI) has a variety of commercial insurance offerings for all sizes of business. Its Small Business Program provides all the coverages a small business needs in one convenient bundle, with one payment solution. HIMI’s Third-Party Claim Administration Services are multiline with a specialty in Workers’ Compensation, providing expert claim management

and mitigation for self-insured, captive, and other entities seeking to outsource this function. The HEMIC Foundation carries out our kuleana beyond insurance, investing in local nonprofits and community initiatives that support families, children, and a stronger Hawai‘i. Through partnership and innovation, our HEMIC Family of Companies remains dedicated to helping shape a safer, healthier, resilient future. Now and always, we are here for Hawai‘i.

HEMIC 915 Fort Street Honolulu, HI 96813 (808) 524-3642 HEMIC.com

H AWA I I B U S I N E S S

SPECIAL PROMOTIONAL SECTION

ANTHOLOGY FINN PARTNERS

nthology was established in 2007 through the consolidation of Hawai‘i’s leading advertising, public relations, digital and market research agencies. Our goal was — and remains — to provide best-practice marketing and communications capabilities in an integrated practice to serve companies and institutions in Hawai‘i. In 2021, Anthology joined FINN Partners, a global independent agency with deep sector expertise in financial services, health, tourism and technology. Fast Company has named FINN Partners one of the “World’s Most Innovative Companies.” At Anthology FINN Partners, “partners” isn’t just a noun. It’s our origin story — an active verb and a way of being. It’s our collective bond with each other and our clients, and a solid foundation for future growth. We’re purpose-built to serve clients through bold creativity, specialized expertise and a relentless commitment to doing what it takes to get the job

AU G U S T 2 0 2 6

done right. Our approach is expert-led and tech-empowered, but always human-first. Our Anthology Research group extends that approach through quantitative and qualitative research services that provide local companies, nonprofits and government clients with the key insights and guidance they need to make informed decisions. Anthology Research also partners with Hawaii Business Magazine annually to conduct the BOSS Survey and 808 Poll. Our AI tech stack provides a curated, secure toolkit that speeds delivery, improves performance and strengthens client outcomes. It includes FINN’s proprietary Canary for Crisis simulation platform, which immerses teams in realistic, high-pressure reputational crisis scenarios to strengthen response strategies. And as visibility for local businesses becomes less about clicks alone and more about trusted citations, our Answer Engine Optimization (AEO) and Generative Engine Optimization (GEO) strategies evaluate

2026

businesses across their entire digital ecosystem, not just their website. Finding signals in the noise. Shaping stories that stand out and stand for something. Building attention that drives meaningful outcomes. That’s our purpose across every one of our disciplines. Anthology FINN Partners fosters a values-driven culture that champions integrity, collaboration and innovation. United by a shared vision and high standards, we are committed to driving positive change for our people, our clients and our Islands.

Anthology FINN Partners 1003 Bishop Street, Suite 900 Honolulu, HI 96813 (808) 544-3000 anthologyfinnpartners.com

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

146 G70 152 158

Architecture, planning and environmental services, interior design, civil engineering, sustainable development, technology services. www.g70.design

147 Hawaii Community Federal Credit

Union

171 171

Federally chartered credit union. www.hicommfcu.com

148 University of Hawai‘i Federal Credit 161 169

150 Commercial Roofing & Waterproofing 167 164

3.9% 14.6%

96 98

Tricia Y. Buskirk - President/CEO Mel Ventura - Exec. VP Member Services Tad Matsubara - Exec. VP Support Services

$38.0 1 $30.8 $26.2

23.3% 17.6%

117 120

Travis Bow - President, CEO

$37.5 $34.5 $26.5

8.7% 30.3%

73 76

Ronald D. Howard - President Layne H. Wada - Managing Dir., VP Finance Richard A. Davison - VP Operations Mitzi Hirasawa - VP Sales & Marketing Donna M. Nakamura - Treasurer

$37.3 $42.5 $43.8

-12.4% -2.9%

98 94

Guy Akasaki - President, CEO

$36.9 $33.6 $28.5

9.8% 17.9%

99 99

$36.5 $35.0 $33.0

4.3% 6.1%

154 152

David T. Paul - President and CEO John K. Newton - VP/CFO Scott Bly - VP, Director of Army Services Clifford P. Lum - VP, Director Engineering & Construction Services Valerie A. Matias - Director of Human Resources James Ano - Director of Operations

$36.4 $35.2 $37.7

3.3% -6.6%

82 90

Bettina Mehnert - President & CEO Emile Alano - VP & COO Lisa Rapp - Principal & Chair, Board of Directors

$35.8 $38.4 $33.4

-6.9% 14.8%

96 100

Dana Vela - President and CEO Jeff Subee - CIO Axel Diaz - CFO Randy Miyashiro - VP Stacy Clark - VP Angie Southichack - VP Wendy Yasutake - VP

$35.0 $34.0 $31.0

2.9% 9.7%

817 787

Hawaii Inc.

Roof replacement, roof renewal, roof recovery, repair and maintenance solutions, leak sourcing, solar PV installations, raingutters and downspouts, long-term roof management programs. www.commercialroofinginc.com

151 The Parrish Collection LLC 159 -

Short-term rentals and property management. parrishkauai.com The Parrish Collection Kauai; The Parrish Collection Maui

152 Aqua Engineers, Inc. 157 -

Provides full-service water and wastewater operations and maintenance, engineering services, construction management, financial services and energy solutions. www.aquaengineers.com Aqua Puhi, LLC

153 AHL 150 157

Architecture, planning, interior design, sustainability and resiliency, historic architecture, existing building services, and experiential graphic design. www.ahl.design

154 Kama‘aina Kids 165 161 1

Educational community & environment multi-service organization. www.kamaainakids.com

% CHANGE EMPLOYEES 2025 2025 2024 2024

$38.7 $37.3 $32.5

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, leading products and services, and lower fees. UHFCU has been named one of “America’s Best-in-State Credit Unions” by Forbes Magazine and "Hawai‘i's Best." www.UHFCU.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.; Paradise Cruise Ltd. dba Star of Honolulu Cruises & Events; RDH Transportation Services Inc. dba Royal Star Hawaii Trans & Tours; Stars in Waikiki LLC dba Rock A Hula Hawaii

SALES ($M) 2025 2024 2023

Charles Y. Kaneshiro - Chairman Linda C. Miki - Vice Chair and CEO Ryan Char - COO, Principal Engineer Kawika McKeague - President

Union

149 Star of Honolulu Cruises & Events 144 136

EXECUTIVES

Total interest income + non-interest income, per NCUA call report.

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

155 East-West Center

EXECUTIVES

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Celeste Connors - President

$34.8 $42.2 $36.3

-17.4% 16.2%

156

Linda M. Fernandez - CEO Scott Fernandez - President Steven Y.H. Lau - Exec. VP, CFO Sydney Fernandez-Pietsch - EVP

$34.8 $36.1 $35.9

-3.6% 0.5%

150 175

Cameron Haughey - Director, Project Management Kirstin Punu - Director, Strategic Development

$34.8 $36.5 $51.4

-4.8% -28.9%

51 63

158 Elemental Impact 1

Dawn Lippert - CEO Danya Hakeem - COO Melissa Uhl - Chief Strategy Officer Mike Curtis - CFO Tiffany Huynh - Senior Director of External Affairs

$34.5 $34.7 $36.2

-0.5% -4.3%

35 56

159 Lōkahi Federal Credit Union 2

Carol J. Ebia - Chair Scott Kaulukukui - President, CEO

$34.1 $29.2 $25.7

16.8% 13.6%

107 105

160 Kalihi Palama Health Center

Emmanuel Kintu - CEO and Executive Director

$33.9 3 $34.4 3 $35.9 3

-1.6% -4.3%

Loren Cunningham - Founder Darlene Cunningham - Founder

$33.1 4 $35.5 4 $31.7 4

-6.8% 12.0%

Ryan Kusumoto - President, CEO Norma Spierings - Chief Development Officer Melissa Cretsinger - Chief Administrative Officer

$33.0 $30.9 $29.0

6.9% 6.5%

346 357

James Kim - CFO Jeff Kaemmerlen - Founder, CEO

$32.7 $16.1 $9.3

103.7% 73.5%

69 39

Nonprofit educational center. www.eastwestcenter.org

145 149

156 Fernandez Entertainment Inc.

Amusement and entertainment, restaurants, toys and merchandise wholesaling, video and amusement equipment distribution and servicing, food and beverage concessions. www.ekfernandez.com Carnival Concessions LLC Carnival Events LLC Rock N Fun LLC; Fernandez Investments LLC.; Fun Foods LLC; Retail Entertainment Concepts Inc.; Fun Factory Inc.; Merchandise International Inc.; Fernandez Properties

156 152

157 AES Hawai‘i 155 128

160 150

AES Hawai‘i is a renewable energy developer committed to supporting Hawai‘i's renewable energy transition. With 12 renewable energy projects currently in operation or in progress, AES Hawai‘i is making a greener, smarter future a reality for our island communities. www.aes-hawaii.com The AES Corp.

Elemental Impact is on a mission to redesign the systems at the root of climate change. Since launching in 2009, Elemental has invested globally in over 160 companies. These entrepreneurs are building technologies that make energy more reliable and affordable, help farmers grow food in changing conditions, strengthen domestic supply chains, and create jobs throughout the United States and beyond. elementalimpact.com

Financial products and services. www.lokahifcu.com

174 173

KPHC delivers quality heath care with linguistic and cultural proficiency. www.kphc.org

162 -

161 University of the Nations, Kona

Educates and equips young people for missionary work around the world.

158 -

162 Parents And Children Together Nonprofit - social and educational services. www.pacthawaii.org People Attentive to Children (PATCH)

170 163

163 Sunspear Energy

Sunspear Energy is one of Hawai’i’s leading providers of state-ofthe-art solar power and battery storage systems. Founded in 2017 and locally owned and operated, Sunspear offers solar energy solutions to homeowners, commercial businesses, nonprofit organizations, and public sector entities. sunspearenergy.com Sunspear Energy (Big Island office)

FKA Elemental Excelerator.

FKA Hickam Federal Credit Union.

Per consolidated financial statement.

Per audited financial statements.

AU G U S T 2 0 2 6

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

164 Farmers Group, Inc. 163 147

169 160

196 209

-5.2% -8.5%

David Derauf - CEO

$32.0 $30.0 $26.0

6.7% 15.4%

244 241

Mary Beth Beth Lohman - Interim CEO

$31.7 $31.6 $31.9

0.0% -0.8%

155 174

Edwin Barlongo - President Marla Yoshihiro - VP Charlie Buckingham - VP

$30.0 $19.3 $14.5

55.4% 33.5%

18 19

$28.6 $22.2 $19.4

29.1% 14.4%

181 179

Connie Mitchell - Executive Director Kanui G Bell - Dir. of Strategy, Planning and Impact

$28.6 $27.7 $27.3

3.1% 1.4%

183 181

Thomas K. McCarthy - Sr. VP, Branch Mgr.

$28.5 $28.3 $27.5

0.8% 2.9%

42 42

Earl Kim - Head of School Stacy Kilty - Exec. Dir. of Business and Operations Support

$27.7 $26.6 $23.9

4.1% 11.3%

184 164

$27.0 $23.6 $16.4

14.7% 43.5%

80 74

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. www.waikikihealth.org

167 Elite Pacific Construction Inc. General contractor www.elitepacific.net

168 Partners in Development Foundation

PIDF is one of Hawai‘i's foremost local nonprofits, operating since 1997. We lead with our values of aloha and service, supporting some of our most vulnerable youth and families throughout the state with education and programs that build healthy, resilient families and communities. www.pidfoundation.org

169 IHS, The Institute for Human 177 167

Services Inc.

Established in 1978, IHS is Hawaii's most comprehensive nonprofit provider of homeless solutions including permanent supportive housing, mental health, medical, drug and alcohol detox, emergency shelter, housing subsidy, outreach, case management and employment services. www.ihshawaii.org Kahauiki Village Development LLC

170 Wells Fargo Advisors 176 166

Financial services. www.wellsfargoadvisors.com Wells Fargo

171 Le Jardin Academy 178 175

Independent PK-12 school offering the full continuum of International Baccalaureate programs. www.lejardinacademy.org

172 ELCCO Inc. -

ELCCO is Maui’s largest self-performing electrical and solar EPC contractor, fully licensed across Hawai‘i. We deliver electrical, telecom, high-voltage, and civil work with in-house engineers and crews, serving general contractors, hotels, facilities, and solar developers. elccoelectric.com

% CHANGE EMPLOYEES 2025 2025 2024 2024

$32.5 1 $34.2 1 $37.4 1

Kōkua Kalihi Valley Comprehensive Family Services is a federally qualified health center serving the richly diverse community of Kalihi. KKV is recognized nationally as a leader in social determinants of health programming with a 50-year history of implementing innovative programs, and annually hosts hundreds of visitors interested in studying our community- and culturallybased approach. kkv.net

166 Waikiki Health

SALES ($M) 2025 2024 2023

Kim Sato - Hawaii Operations Manager

Property and casualty-insurance products. www.farmershawaii.com 21st Century Centennial Insurance; Hawaii Insurance Consultants, Ltd.

165 Kōkua Kalihi Valley 172 172

EXECUTIVES

Direct premiums written in Hawai‘i per DCCA.

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

173 Aloha Nursing Rehab Centre

EXECUTIVES

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Tiffany Sadoyama - Chief Financial Officer Amy Y. Lee - CEO

$26.9 $26.1 $16.8

3.3% 55.1%

146 129

Kent Untermann - CEO Lori Untermann - VP Lon Miyaguchi - VP Operations Alexa Untermann - Sec., Treas.

$25.8 $25.6 $22.5

0.8% 13.8%

172 170

Summer Sylva - Interim CEO

$25.8 1 $21.5 1 $21.1 1

19.7% 2.1%

Andreea Grigore - CEO Matthew Gage - CFO Aurelie Tanguy - COO

$25.7 $23.0 $21.8

11.8% 5.5%

177 Hawaiʻi Preparatory Academy

Fred Wawner - Head of School Hannah Hind Candelerio - Asst. Head of School for Advancement

$25.0 2 $28.8 2 $22.9 2

-13.2% 25.5%

178 Pearl Hawaii Federal Credit Union

Daniel Terada - President, CEO

$24.9 3 $21.0 3 $17.2

18.6% 22.0%

65 68

John Thielst - Senior VP, Managing Principal

$24.9 $22.5 $21.6

10.7% 4.4%

108 102

Alan I. Shintani - Chairman of the Board Fred Kim - President Robert de los Reyes - VP Jason Tang - Controller

$24.6 $31.8 $29.2

-22.6% 9.0%

67 69

Wendy Shewalter - President & CEO Bruce C. Shewalter - COO / RME Gina Inoue - Vice President

$24.2 $23.3 $19.7

4.0% 18.3%

44 44

Matthew K. Custer - President and CEO Gerald R. Cysewski - Chief Scientific Officer

$24.2 2 $23.1 2 $23.2 2

5.0% -0.5%

179 202

Skilled nursing facility. www.alohanursing.com Health Care Japan Co. Ltd. Aloha Nursing Rehab Centre

174 The Art Source Inc. 180 179

Manufacturer and retailer of framed art, cabinets, closet systems and related items. Retailer of unique home gifts for the local and visitor markets through CocoNene. www.theartsourceinc.com Pictures Plus; California Closets; Plus Interiors; CocoNene

175 Office of Hawaiian Affairs 184 186

Public agency responsible for improving the well-being of Native Hawaiians. www.oha.org

176 Gather Vacations Inc.

Property management, vacation rentals, hospitality, and luxury. gathervacations.com The Elite Companies LLC

187 182

175 178

Independent K-12 school. www.hpa.edu

Financial institution. pearlhawaii.com

192 197

179 Coffman Engineers Inc.

Multi-discipline engineering and consulting firm. www.coffman.com

189 183

180 Alan Shintani, Inc. 168 162

General contracting. Historical renovations, federal, residential, commercial. www.alan-shintani.com

181 Contract Furnishers of Hawaii Inc. 185 190

MillerKnoll Platinum Certified dealer providing contract furnishings to businesses, government, health care and higher education. www.op-hawaii.com Op Build; Office Pavilion

182 Cyanotech Corporation 186 176

Producer of dietary supplements and natural products derived from microalgae. www.cyanotech.com Nutrex Hawaii, Inc

Charges for services + operating grants, per annual report.

Per annual report.

Total interest income + non-interest income, per NCUA call report.

AU G U S T 2 0 2 6

48 42

SPECIAL PROMOTIONAL SECTION

HAWAII STATE FEDERAL CREDIT UNION

or 90 years, Hawaii State Federal Credit Union (Hawaii State FCU) has held onto the belief that “always right by you” is not just a tagline, but a commitment and promise. It means doing right by our members, our teammates, and our community, and continuing to empower a lifetime of financial wellness for all Hawaii residents. 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 our humble beginnings serving Hawaii’s territorial government workers, to becoming one of the largest credit unions in the state, with 14 branches across Oahu and Maui, we’ve remained dedicated to a member-focused way of doing business. We invest significant time and resources toward continually improving our member experience and providing value-added products, innovative technology, and educational tools to set people on the right path to better financial health. Our members are an essential part of our financial coopera-

2026

tive, and our commitment to building and strengthening those relationships ensure that we can continue to provide vital financial services to support their well-being for many years to come.

Hawaii State Federal Credit Union www.HawaiiStateFCU.com

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

183 Honolulu Community Action

EXECUTIVES

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Robert N.E. Piper - CEO/Exec. Director

$23.9 $24.4 $22.4

-1.9% 8.8%

297 300

Penni Hall - Interim Director and CEO Mike Watanabe - Board of Trustees Chair

$23.8 $23.0 $19.0

3.8% 20.8%

132 126

Brandi Saragosa - Interim CEO

$21.5 1 $77.9 1 $9.6 1

-72.4% 713.8%

186 Honolulu Federal Credit Union

Mark Munemitsu - President, CEO Ross Inouye - Sr. VP

$21.4 $20.0 $16.8

6.7% 19.2%

55 55

187 Aloha United Way

Michelle Bartell - President & CEO Victoria Fisher - VP of Finance and Accounting Jennifer Pecher - VP, 211 Community Response Programs Kayla Keehu-Alexander - VP of Community Impact Agnieszka Westfal-Conboy - VP of Marketing and Communications Ka'ili Trask O'Connell - VP of Resource Development Lopa Shah - VP of Operations

$21.2 $22.4 $23.1

-5.3% -2.7%

44 57

Kim-Anh T. Nguyen - President & CEO

$21.2 $20.2 $19.6

4.8% 3.1%

121 117

James Takamine - CEO

$20.7 2 $18.4 2 $16.6 2

12.6% 10.6%

88 88

Michele Kawahara - CEO/President

$20.6 2 $18.0 $14.9

14.9% 20.8%

67 62

Race Randle - CEO Wade Kodama - CFO

$19.5 $11.6 $10.9

68.2% 6.0%

20 16

Ryusuke Yodoi - President Alessandro Bolla - Vice President

$19.0 $15.5 $12.5

22.6% 23.8%

180 110

183 180

Program, Inc.

Private nonprofit providing opportunities for low-income population to achieve self-reliance. www.hcapweb.org

184 Honolulu Museum of Art 188 192

Art museum, art school, educational programs, theater. www.honolulumuseum.org Honolulu Academy of Arts

185 Maui Food Bank 102 -

Food collection and food distribution to the needy on Maui, Molokai and Lanai. www.mauifoodbank.org

195 (HOCU) Credit union. Financial institution. 203 www.myhocu.com

190 177

Aloha United Way advances the health, education, and financial stability of every person in our community by bringing together resources, organizations, and people. AUW is a partner, advocate, resource, and connector that focuses on systemic issues facing our community. What we do informs policy, creates alliances, and generates resources for greater social impact. www.auw.org

188 Blood Bank of Hawaii

Non-profit, sole provider of blood to Hawai‘i hospitals. www.bbh.org Blood Bank Real Property Inc.

194 191

189 CU Hawaii Federal Credit Union 198 206

Credit union. www.cuhawaii.com

190 Maui County Federal Credit Union 200 208

Federal credit union, financial institution. www.mauicountyfcu.org

191 Maui Land & Pineapple Co. Inc. 220 218

Maui Land & Pineapple Company is dedicated to the thoughtful stewardship of over 22,000 acres of land with approximately 260,000 square feet of commercial properties. Founded as a family company in 1909, today MLP envisions a future where Maui residents can thrive in more resilient communities with an increased housing supply, food and water security and renewed connections of people and place. www.mauiland.com Kapalua Land Co. Ltd.

192 IDEA Food Service USA Inc. 207 213

Retail restaurants. www.arancino.com IDEA Food Service USA Inc Kuruma LLC; Arancino Kahala LLC; Arancino di Mare LLC; Arancino LLC

Per audited financial statements.

Total interest income + non-interest income, per NCUA call report.

AU G U S T 2 0 2 6

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

EXECUTIVES

SALES ($M) 2025 2024 2023

193 SeaWide Express

Phil Hinkle - GM

$18.9 $19.2 $17.1

-1.8% 12.2%

55 55

Michael A. Carr - President, CEO Tom Manuel - CFO

$18.5 $18.0 $18.2

3.0% -1.2%

128 120

Myron N. Kiriu - CEO, Owner, Realtor Karin Moody - Principal Broker, Owner Ambur Kiriu - Owner, VP Public Relations Kevin Inn - President

$18.5 $17.3 $17.1

6.8% 1.2%

191 209

Russell James Lau - Chairman, CEO Robert Gregory Nelson - President Kristi L. Maynard - Exec. VP, CFO

$18.0 $16.3 $18.2

10.2% -10.3%

109 106

Ryusuke Yodoi - President Alessandro Bolla - Vice President

$17.6 $14.7 $11.5

19.8% 28.2%

275 255

Rona Yagi Fukumoto - President & CEO

$17.6 $17.8 $14.6

-1.2% 21.5%

167 104

Anna Neubauer - President & CEO

$17.4 $14.7 $16.3

18.5% -9.8%

174 155

Lisa A. Daijo - President, Owner

$17.2 $17.1 $16.7

1.0% 2.1%

28 26

2026 2025 2024

197 199

SeaWide Express provides reliable logistics services to Hawai‘i, Alaska, and Guam, specializing in LCL and FCL shipping with RO/RO and barge options. We connect shippers and 3PLs across North America and operate last-mile delivery and storage solutions on O‘ahu, HI. www.seawideexpress.com AJC Logistics Kano Trucking

194 USS Missouri Memorial Association 199 195

Inc.

Non-profit organization. www.ussmissouri.org

195 REMAX HAWAII 202 201

We are a residential real estate brokerage on Oahu and Maui with 6 offices and 180 realtors helping buyers, sellers, and investors navigate homeownership. Our realtors provide local expertise, personalized service, and strategic marketing for successful transactions. remaxhawaii.com REMAX HAWAII 1 REMAX HAWAII; REMAX Hawaii Maui; REMAX Hawaii West Oahu; REMAX Hawaii North Shore

196 Finance Factors Ltd. 206 194

Residential home loans and lines of credit, CRE loans, savings accounts, and certificates of deposit. www.financefactors.com Finance Enterprises Ltd.

197 Arancino Italian Restaurants

Restaurant www.arancino.com IDEA Food Service USA, Inc. Torisho Kuruma; Arancino at The Kahala; Arancino on Beachwalk; Arancino Di Mare

198 Lanakila Pacific 201 -

A Hawai‘i-based 501(c)(3) nonprofit offering integrated programs and social enterprises that benefit over 1,700 individuals with disabilities, seniors, and others. We inspire inclusive communities where people of all ages and abilities can be independent and thrive in employment and daily living. www.lanakilapacific.org

199 Hawaiian Humane Society 210 200

The Hawaiian Humane Society is a non-profit education and advocacy organization that shelters, protects, rescues, reunites and rehomes animals. Established in 1883, it is O‘ahu’s largest animal welfare organization helping local pets and people in need. hawaiianhumane.org Hawaiian Humane Society Hawaiian Humane Society Kosasa Family Campus at Ho‘opili

200 Express Employment Professionals 205 205

Express Employment Professionals is a full-service staffing agency connecting Hawai‘i businesses with skilled talent across five divisions: Light Industrial, Office Services, Skilled Trade, Licensed Medical, and Professional placements, providing temporary, contract, and direct hire solutions. www.expresspros.com/honoluluhi Express Services Inc.

% CHANGE EMPLOYEES 2025 2025 2024 2024

Better Homes and Gardens Real Estate Advantage Realty rebranded in August 2025 to RE/MAX Hawai`i .

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

201 Hawai‘i State Foundation on Culture 203 168

and the Arts

Reliable Frontline Workforce Solutions for the Essential Economy! Array delivers dependable frontline workers by combining local recruiting expertise with a national technology platform that identifies and deploys measurably more productive talent. arraycorp.com Staffing Solutions of Hawaii, Inc; Na Kahu Malama Nurses, Inc; Employers Options, LLC

203 Easterseals Hawaii 204 185

211 207

0.3% -36.2%

Lisa Kracher - VP of Array Brittanee Bernal - General Manager of KMN, VP of Array Rachele Pezel - General Manager of SSOH & EO, VP of Array

$17.1 $13.5 $6.1

26.7% 121.9%

25 8

Patrick Klein - CEO

$16.4 $17.1 $21.3

-4.1% -20.0%

207 215

Heather Lusk - Exec. Director

$15.3 1 $14.3 1 $16.1

7.2% -11.5%

Douglas Kai - President

$15.0 $12.0 $11.5

25.0% 4.3%

Rachel Ah Sue - Owner Chris Ah Sue - Owner

$14.4 $11.8 $19.0

22.6% -38.0%

32 35

Craig D. Hopkins - President and CEO

$13.7 2 $18.1 2 $25.3

-24.2% -28.5%

Center

HHHRC serves Hawai‘i communities by reducing the harm and fighting the stigma of HIV, hepatitis, homelessness, substance use, mental illness, and poverty in our community. www.hhhrc.org

205 Alert Alarm Hawaii / National Fire

Protection

Security systems: Burglar/Intrusion Systems, CCTV Systems, IP based cameras, Access control, Nurse call, ERCES. Fire systems: Extinguishers, Suppression systems, Alarms systems, special hazards systems. Monitoring: All systems. www.alertalarmhawaii.com

206 Malama Solar 219 193

Malama Solar is a local, Hawaiian-owned, full-service solar photovoltaic and battery storage provider. It specializes in sales, design, installation, and maintenance of these systems. www.malamasolar.com

207 Barnwell Industries Inc. 191 174

Exploring for, developing, producing and selling oil and natural gas in Canada and the United States, investing in land interests in Hawai‘i, drilling wells and installing and repairing water pumping systems in Hawai‘i. www.brninc.com Barnwell Investments LLC; Barnwell Texas, LLC; BOK Drilling, LLC; Barnwell Hawaiian Properties, Inc.; Kaupulehu Developments; Barnwell Kona Corp.; Barnwell of Canada, Ltd.; Dartmouth Petroleum, Ltd.; Gypsy Petroleum, Ltd.; J.H. Wilson Associates, Ltd.; KD Kona 2013 LLLP; Water Resources International, Inc.; Bill Robbins Drilling, Ltd.; Octavian Oil, Ltd.

Per audited financial statement.

Per annual report.

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$17.2 $17.1 $26.9

For nearly 80 years, Easterseals Hawaii has provided exceptional, individualized, family-centered services to empower people with intellectual and developmental disabilities to choose their own path. Programs include early intervention, adult home and community-based services and autism services. www.eastersealshawaii.org Catalight

204 Hawai‘i Health & Harm Reduction

SALES ($M) 2025 2024 2023

Konrad Ng - Board of Commissioners Chair Karen Ewald - Exec. Director

State government arts agency started to promote and preserve culture and the arts in Hawai‘i. Funding comes from state, federal and private sources and is distributed to nonprofits and schools. www.sfca.hawaii.gov

202 Array Corporation 212 -

EXECUTIVES

SPECIAL PROMOTIONAL SECTION

PAR HAWAII

2026

Creating a Cleaner, More Resilient Future

ore than 50 years ago, Hawai‘i’s visionary government and business leaders saw the need to make energy security a priority for our state. They built a refinery to ensure Hawai‘i residents and businesses have easier access to fuels that power our lives and support our economy. Threats to Our Energy Security Today, Hawai‘i faces ongoing threats to energy security. Geopolitical events, global supply chain disruptions, and natural disasters all remind us how important it is to maintain resilient local energy infrastructure. We’re Just Getting Started Par Hawaii is already replacing foreign oil with plant-based oils and recycled cooking oil to produce renewable fuels that have just as much power as conventional fuels. We’re working with local partners to evaluate locally grown feedstocks that one day will support sustainable aviation fuel, renewable diesel, and other opportunities in Hawaii agriculture. Investing in Hawai‘i These milestones are the result of years of planning, substantial investments, and global strategic partnerships to move Hawai‘i forward. We are proud to be operating the state’s largest renewable fuels manufacturing facility. This is creating opportunities for hundreds of employees to apply their experience and knowledge in refining and logistics in new, exciting ways to help support Hawaii’s transition to a more sustainable and resilient energy future.

There’s More to Come Par Hawaii is reinventing itself and staying the course to lead the way in renewable fuels production to complement solar and battery, wind, and other renewable energy sources. With ongoing investments in processing units, our refinery will eventually produce 100 percent renewable fuels. Together, we can create a cleaner, more resilient future, now and for the next generation.

Par Hawaii Par Hawaii 91-325 Komohana Street Kapolei, Hawaii 96707 (808) 547-3111 parhawaii.com

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

208 Video Warehouse, Inc. 193 196

Provider of audio visual systems design and integration, renewable energy and energy efficiency solutions. www.theavco.com The Audio Visual Company; Energy Industries

209 Kaua‘i Federal Credit Union 225 239

221 -

214 -

-34.7% 19.5%

53 60

Sean Kaley - President and CEO

$13.5 1 $10.4 1 $7.6

29.3% 36.5%

36 40

Neil Shimogawa - Chairperson

$13.4 $12.9 $12.0

4.0% 7.6%

37 39

Mitchell Noguchi - CEO

$13.4 $11.1 $10.5

20.4% 6.1%

56 52

Aileen Utterdyke - President and CEO

$13.1 $13.3 $13.0

-1.6% 2.3%

60 45

Joe Silva - Director of Operations

$13.0 $12.0 $11.0

8.3% 9.1%

70 63

Sanoe Marfil - CEO

$12.9 2 $10.3 2 -

25.5%

Stephan Edwards - President Denny Sadowski - VP Robyn Miura - Sec., Director David Kwong - GM

$12.4 $13.4 $13.5

-7.2% -1.0%

Richard E. Tanaka - Chair, CEO Hiroshi D. Lamansky - President Alison "Bo" H. Tanaka - Exec. VP & CFO Calvin Yamasaki - Sr. VP & CAO

$12.2 $12.9 $13.9

-5.5% -7.3%

190 190

Leina Ijacic - CEO/Administrator

$12.1 $10.1 $9.7

19.2% 4.1%

92 96

A locally owned agency with over 40 years of experience, Noguchi & Associates serves Hawai‘i businesses through offices on O‘ahu, Maui, Kaua‘i, Hawai‘i Island and New York. Its 70+ employees and agents offer insurance, surety bonds, risk control, premium financing, employee benefits and more. www.nogins.com

212 Pacific Historic Parks

A leading non-profit 501(C)3 organization supporting significant historical sites in the Pacific for future generations. Through education, interpretive programs, research, preservation, and restoration, we work to perpetuate the memory of events and honor the people involved in these locations. www.pacifichistoricparks.org

213 Diamond Bakery Hawaii

Hawaii's Largest Manufacturer of Crackers and Cookies www.diamondbakery.com

214 INPEACE 231 -

INPEACE, the Institute for Native Pacific Education and Culture, is a 501(c) Community-Based Organization. Its mission is to improve the quality of life for Native Hawaiians through community partnerships that provide educational opportunities and promote self-sufficiency. inpeace.org

215 Hawaiian Islands Freight Association 213 212

Freight forwarding. www.hifa.us

216 Tanaka of Tokyo Restaurants Ltd. 217 210

Own and operate three Tanaka of Tokyo restaurants. www.tanakaoftokyo.com Maruei Restaurants Ltd., DBA Tanaka of Tokyo East; Rick's Restaurants Ltd., DBA Tanaka of Tokyo West

217 One Kalakaua Senior Living 228 227

Association

Fee-simple senior living condominium with assisted living services. www.onekalakaua.net

Total interest income + non-interest income, per NCUA call report.

Per annual report.

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$13.6 $20.8 $17.4

Credit union. www.hawaiicentral.org

211 Noguchi & Associates

SALES ($M) 2025 2024 2023

Thomas Lee - CEO Cody Navarro - President Rena Gormley - VP, COO Phillip Wescott - VP, Dir. of Technology, Principal

Credit union. www.kauaicreditunion.org

210 Hawaii Central Federal Credit Union 216 216

EXECUTIVES

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

218 Hina Mauka 215 -

Hina Mauka is a nonprofit organization dedicated to helping individuals reclaim their lives from the grips of substance use and mental health challenges. Through residential and outpatient treatment, it supports adults and adolescents on their path to recovery and healing. With compassionate, evidencebased care, Hina Mauka empowers people to restore hope, health, and purpose. www.hinamauka.org

219 Kilauea Pest Control Inc. 230 234

153 250

227 217

PBS Hawai‘i is the only locally owned, statewide television station in Hawai‘i. We are a 501(c)(3) nonprofit educational organization. pbshawaii.org Public Broadcasting Service

$11.7 $10.6 $8.6

10.4% 23.2%

100 96

Matthew S. Delaney - President, CEO

$11.6 $9.7 $9.4

20.0% 3.0%

181 178

Nikki Russell - Interim CEO

$11.4 $37.2 $6.4

-69.3% 484.3%

Andrew "Homer" Ring - Executive Director

$11.2 $10.3 $11.0

8.8% -6.2%

38 35

Ron Mizutani - President and CEO Karen Yamamoto - Sr. VP and CFO

$11.1 1 $10.9 1 $10.0 1

2.1% 9.3%

Tiera Covington - President

$10.6 $10.1 $8.7

5.0% 16.4%

81 133

Leonard Licina - President & CEO Felicia Wells-Williams - Director of Clinical Services

$10.5 $7.8 $6.9

36.0% 12.6%

28 28

Janitorial, landscaping, maintenance and site management services. www.ifshi.com

225 Legacy of Life Hawai‘i 248 246

John Speed - Founder/Owner

The Pacific Fleet Submarine Museum is the most visited submarine museum in the world. The PFSM preserves and shares the legacy of the U.S. Navy’s Silent Service through immersive exhibits, educational initiatives, and historic artifacts including WW2 submarine USS Bowfin (SS-287). bowfin.org

224 Integrated Facility Services Hawaii 229 235

82 89

Association

223 PBS Hawai‘i 223

-8.5% 18.1%

Maui's only open-admission animal shelter accepting all dogs, cats & critters in need. The shelter cares for 5,000 animals per year and performs low-cost and free spay/neuter surgeries last year for pets, community cats and shelter animals. Features robust foster, volunteer and community outreach. www.mauihumanesociety.org

222 Pacific Fleet Submarine Memorial

Health care: federally designated organ procurement organization. We save lives by coordinating the recovery of organs and tissue for transplantation. www.legacyoflifehawaii.org

% CHANGE EMPLOYEES 2025 2025 2024 2024

$12.0 $13.1 $11.1

Outsourcing services, accounting and tax services, HR outsourcing, health care staffing, home care, consulting and advisory services. www.thehawaiigroup.com Lakeport Accounting & Tax LLC; California Accounting CPA; The Delaney Group Inc.; DemandHR; Cradles N' Crayons LLC; Hawaii Health Care Inc. (HiHealthCare); Hawaii Accounting LLC (HiAccounting); Hawaii Nursing Inc. (HiNursing); Hawaii HomeCare Inc. (HiHomeCare)

221 Maui Humane Society

SALES ($M) 2025 2024 2023

Brian Baker - President & CEO Toshiyuki Shibata - Chief Medical Officer Desie Graves - Chief Financial Officer

Full-service termite and general pest control services for residential and commercial properties on Oahu and Maui. kilaueapest.com

220 The Hawaii Group Inc. 233 230

EXECUTIVES

Per annual report.

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

226 Integrated Security Technologies Inc. 236 245

Insurance claim adjusting, third-party administrator. www.johnmullen.com DB Insurance

228 Pearl Harbor Aviation Museum 226 229

218 214

A leading architectural engineering firm with over 39 years of experience specializing in making buildings perform better. Our core “trade level” expertise and strengths are in all exterior façade trades, curtain wall and glazing, roofing and waterproofing, HVAC and plumbing, and energy efficiency. www.abbae.com

230 PBR HAWAII & Associates Inc.

231 Bishop & Company Inc. 235 224

37 34

Jong Sun Park - CEO Patrick M. M. Nii - VP, Chief Marketing Officer Michael Patrouch - VP of Claim Operations

$10.2 $15.0 $13.8

-32.0% 8.8%

73 77

John P. Hiltz - CEO

$10.0 $10.3 $9.5

-2.7% 8.2%

48 47

Karim Allana - CEO & Sr. Principal Eugene Buick - COO & Sr. Principal Gerson Bers - VP & Sr. Principal

$9.9 $12.7 $12.3

-22.3% 2.8%

228 227

Kimi Mikami Yuen - President

$9.7 $8.9 $8.1

9.0% 9.9%

40 37

Judy N. Bishop - President, Owner

$9.5 $8.7 $10.0

8.3% -12.1%

11 11

Rene Matsuura - President, CEO

$9.3 1 $8.8 1 $7.2 1

5.6% 21.4%

31 34

Ruth Fletcher - President and Head of School

$9.2 $11.1 $9.9

-17.1% 11.6%

71 69

TY Cheng - Founder

$9.0 $11.0 $12.0

-18.2% -8.3%

74 71

David Kauila Kopper - Exec. Director

$9.0 $8.0 $8.0

12.5% -0.2%

104 104

Staffing company, executive recruitment. www.bishopco.net

232 Hawaii Law Enforcement Federal 242

Credit Union Credit union. www.hlefcu.com

233 St. Andrew's Schools 223 220

College preparatory education serving girls and boys from preschool through grade 12. www.standrewsschools.org

234 Aloha Green Holdings Inc. 222 215

Honolulu's leading state-licensed medical cannabis dispensary. www.agapoth.com Aloha Green Cannabis Collection Hemptuary Hawaii; Aloha Green Herb House; Aloha Green Apothecary

235 Legal Aid Society of Hawai‘i 241 238

21.0% 22.9%

Landscape Architecture, Land Planning, Environmental Studies, Permitting/Entitlements, Graphic Design www.pbrhawaii.com

The Legal Aid Society of Hawai‘i is a public interest, nonprofit law firm dedicated to achieving fairness and justice through legal advocacy, outreach, and education for those in need. Established in 1950, Legal Aid has 11 offices statewide and over 100 staff members dedicated to achieving Legal Aid's vision of "Building a Just Society." legalaidhawaii.org

Total interest income + non-interest income, per NCUA call report.

AU G U S T 2 0 2 6

% CHANGE EMPLOYEES 2025 2025 2024 2024

$10.5 $8.7 $7.0

National Historic Landmark, America's WWII Aviation Battlefield, Aviation Museum. www.pearlharboraviationmuseum.org

229 Allana Buick & Bers

SALES ($M) 2025 2024 2023

Christine Lanning - President

Low voltage electrical contractor specializing in electronic security and nurse call systems. www.istechs.net

227 John Mullen & Co., Inc. 208 211

EXECUTIVES

SPECIAL PROMOTIONAL SECTION

ISLAND ENERGY SERVICES (IES)

2026

Powering Hawai‘i: Ten Years of Local Leadership and Energy Reliability

sland Energy Services (IES), a locally headquartered energy company, has proudly served the state of Hawai‘i for the past decade delivering the fuels that keep our communities, businesses, and economy moving. From our statewide distribution network to our neighborhood Texaco stations, IES provides the critical energy infrastructure that supports daily life across the islands. Every day, our team safely supplies transportation fuels including aviation fuel, marine fuel, and other essential energy products that power homes, businesses, hospitals, first responders, airports, harbors, and military operations throughout Hawai‘i. As a locally based company, our decisions are made here in Hawai‘i by people who live and work in the communities we serve. That local perspective strengthens our commitment to operational excellence, environmental stewardship, and long-term investment in the state’s energy resilience. Safety remains our highest priority. Our employees work around the clock to ensure a safe, reliable, and uninterrupted fuel supply, preparing for everything from severe weather events to changing market conditions. Their expertise, dedication, and commitment to excellence are the foundation of our success. IES is equally committed to strengthening our communities beyond supplying energy. Through employee volunteerism, charitable giving, educational partnerships, and support for nonprofit organizations across the state, we invest in initiatives that help build stronger, healthier communities. We believe that being a good neighbor

means creating lasting value and trust for the people and places we call home. As Hawai‘i’s energy landscape continues to evolve, IES is helping responsibly navigate the transition by supporting solutions that balance sustainability, affordability, reliability, and energy security. We recognize that today’s communities depend on resilient and reliable energy systems while tomorrow’s future requires continued innovation and collaboration. This year marks an important milestone—ten years of serving Hawai‘i as Island Energy Services. While much has changed over the past decade, our purpose remains constant: delivering

safe, reliable energy while serving as a trusted local partner dedicated to Hawai‘i’s future. Powered by local people. Guided by local values. Committed to powering Hawai‘i for generations to come.

Island Energy Services 91-480 Malakole Street, Kapolei, HI 96707 (808) 682-5711 islandenergyservices.com

H AWA I I B U S I N E S S

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

236 Anthology Finn Partners 224 219

Integrated communications services in advertising, PR, market research, digital/social media, and websites. Part of the independent FINN Partners global marketing and communications agency headquartered in NY. www.anthologygroup.com Finn Partners, Inc.

237 Hale Kipa Inc. 247 222

Hale Kipa is a nationally accredited youth and family service provider responsive to the emergent or ongoing needs of over 1,000 of Hawai‘i’s youth/young adults annually. Rooted in aloha and kuleana, Hale Kipa is dedicated to supporting and empowering Hawai‘i’s youth, young adults, and families. www.halekipa.org

238 Maui Clothing Co. Inc. 246 226

Retail swimwear, clothing, accessories and gifts. www.mauiclothingcompany.com Escape to Maui; Maui Waterwear; Island Paradise Jewelry; Boutique Aloha Hawaii; Boutique Aloha Oahu; Boutique Aloha Maui; Boutique Aloha Kauai; Charmed By Hawaii; Maui Jewelry Company; Hawaiian Silver Exchange; Vila Company; Kauai Clothing Company; Waterwear; Aloha Gifts ; Boutique Aloha; Cruise Boutique; Making Waves; Maui Clothing Outlet; Pretty Wahine Boutique

239 Xiber 245 237

Telecommunications. Internet, TV, voice, and cloud-based solutions. www.xiber.com Xiber, LLC Xiber LLC

240 Hawai‘i Public Radio 244 231

Nonprofit media organization serving statewide and sole broadcaster of NPR programming. www.hawaiipublicradio.org

241 Ho‘ōla Nā Pua

Prevention of sex trafficking and providing care for children who have been exploited. Areas of work: health, human services, atrisk youth, disadvantaged populations, child abuse, trafficking and exploitation, art, culture, and education. www.hoolanapua.org

242 Boys & Girls Club of Hawaii 250 243

Afterschool services for school-aged youth; providing safe spaces, meals, caring adult mentors and youth development programs, ensuring youth on Oahu and Kauai have the resources they need to achieve the GREAT FUTURES they all deserve. Serving over 15,000 youth through our 10 Clubs and outreach. www.bgch.com BGCH West Kauai St Theresa's School Site; 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

Per annual report.

AU G U S T 2 0 2 6

EXECUTIVES

SALES ($M) 2025 2024 2023

% CHANGE EMPLOYEES 2025 2025 2024 2024

Dennis Christianson - Managing Partner Nathan Kam - Sr. Partner, Public Relations David Pettinger - Sr. Partner, Research Wenona Harris - Sr. Partner, Integrated Marketing

$9.0 $10.7 $10.8

-16.4% -0.9%

65 78

Venus Kau‘iokawēkiu Rosete-Medeiros - CEO Gwen Okamoto - CFO

$8.9 $7.8 $10.0

14.8% -22.3%

110 103

Edward D. Wayne - Chair, President Victoria W. Bowley - CEO Wendy Inouye - Controller

$8.9 $7.8 $9.8

13.7% -20.3%

71 60

Jared Grugett - Chief Xperience Officer Bruce Hollowell - President & General Manager

$8.8 $7.8 $8.2

12.1% -5.0%

43 37

Meredith Artley - President and CEO Bill Dorman - VP & News Director Carolyn Hyman - VP, Sponsorships & Business Development Bernie Shimono - VP, Finance Valerie Yee - VP & Assistant GM Russell Subiono - Dir. of Programming & Content Development

$8.7 1 $7.9 $9.1

10.7% -14.1%

Kent Anderson - Sr. Dir. of Operations & Community Programs

$8.6 $6.4 $5.7

34.3% 11.9%

48 40

Paddy Kauhane - President & CEO

$8.5 $7.1 $7.2

19.7% -1.5%

50 43

2026 2025 2024

COMPANY LINE OF BUSINESS WEBSITE PARENT COMPANY SUBSIDIARIES

243 Life Cycle Engineering 239 233

Professional engineering services provider. Providing DoD and federal agencies with a full range of solution-centric services in the areas of engineering, logistics, shipyard planning and engineering process support, waterfront maintenance support, IT/cybersecurity. www.LCE.com Life Cycle Engineering

244 Cadinha & Co., LLC 242 244

Providing Hawai‘i with fiduciary and wealth management, investment management, and financial planning services as Registered Investment Advisers for over 45 years. cadinha.com Cadinha & Co., LLC Cadinha Institutional

245 Vivia Cares, Inc. 240 249

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. Expanded to WA in 2024. viviacares.com Vivia Home Care WA, LLC; iHealthHome, Inc.; Ho'okele Health Navigators, LLC; Ho'okele Caregivers Maui, LLC; Ho'okele Care at Home, LLC

246 Harold K. L. Castle Foundation -

Private foundation. www.castlefoundation.org

247 Environmental Science -

International, Inc.

Tour and transportation company. We provide the highest quality of both seat-in and private experiences. Now offering car rentals for visitors looking to make their own memories. Our tire and auto repair can help keep you on the road all the time with top-trained mechanics and facilities. flyshuttlehawaii.com Fly Tire and Auto Repair; Car Rentals By Fly

249 Kona Coast Property Management -

2.5% -10.0%

71 71

Kaleialoha K. Cadinha-Pua‘a - Vice Chairman, CEO, Pres., and Chief Investment Officer Harlan Cadinha - Chairman and Chief Investment Strategist Monique Feary - Dir. of Finance & Chief Compliance Officer Skyler Keate - Director of Operations and Trading Robyn Macy - Executive VP, Client Services

$8.0 $8.0 $7.0

0.0% 14.3%

18 18

Dew-Anne Langcaon - CEO and President Tanya Fernandes - CEO, Ho'okele Home Care Bonnie Castonguay - Chief Clinical Officer

$8.0 $8.0 $6.4

-1.2% 25.6%

60 67

Eric Co - CEO Alexander Harris - President Ann Matsukado - CFO & Treasurer

$7.6 $5.3 $4.2

43.0% 26.7%

6 6

Robert Chong - Program Manager Scott E. Simmons - Sr. VP

$7.5 $7.2 $5.5

3.7% 32.2%

22 23

Tim Lai - Owner/ Partner Thai Lai - Owner/ Partner Dean Calibraro - Chief Marketing Officer

$7.3 $7.5 $7.5

-3.3% 0.0%

50 50

Igor Simkin - CEO

$6.7 $6.0 $6.1

13.1% -1.7%

22 37

Shannon Holman - Co-Founder

$6.4 $4.8 $4.5

32.9% 6.7%

18 14

Vacation rental property management. Konacoastvacations.com

Orion is a civil engineering firm specializing in airfield planning, design, and construction management. orionea.com Orion Partners, PLLC

% CHANGE EMPLOYEES 2025 2025 2024 2024

$8.3 $8.1 $9.0

LLC, dba Kona Coast Vacations

250 Orion Engineers & Associates

SALES ($M) 2025 2024 2023

Bob Fei - CEO Martin Baker - CFO - Senior VP Peter Thomas - VP, Federal Solutions Group Caleb Shomo - VP of HR, Chief Ethics Compliance Officer Karin Long - Director of Contracts

Environmental consulting. www.esciencei.com

248 Fly Shuttle & Tours 249 240

EXECUTIVES

H AWA I I B U S I N E S S

C (continued)

H (continued)

Adventist Health Castle..................................................45 AECOM...........................................................................48 AES Hawai‘i.....................................................................62 AHL.................................................................................. 61 Alaka’i Mechanical Corp................................................52 Alaka’ina Foundation......................................................45 Alan Shintani, Inc............................................................64 Alaska Airlines and Hawaiian Airlines...........................38 Albert C. Kobayashi Inc..................................................42 Alert Alarm Hawaii / National Fire Protection...............68 Allana Buick & Bers........................................................72 Allied Builders System, Inc.............................................50 Allstate Insurance Co.....................................................46 Aloha Green Holdings Inc..............................................72 Aloha Kia.........................................................................48 Aloha Nursing Rehab Centre.........................................64 Aloha Pacific Federal Credit Union...............................54 Aloha United Way............................................................66 American Electric Co. LLC.............................................56 American Savings Bank.................................................43 Anthology Finn Partners................................................. 74 Aqua Engineers, Inc........................................................ 61 Arancino Italian Restaurants.........................................66 Armstrong Builders LLC.................................................58 Array Corporation...........................................................68

Constructors Hawaii Inc.................................................58 Contract Furnishers of Hawaii Inc..................................64 Crum & Forster................................................................58 CU Hawaii Federal Credit Union....................................66 Cyanotech Corporation..................................................64

Hawai‘i Pacific Health....................................................38 Hawai‘i Pacific University...............................................48 Hawai‘i Preparatory Academy.......................................64 Hawai‘i Public Radio....................................................... 74 Hawai‘i State Foundation on Culture and the Arts........68 Hawaii Central Federal Credit Union.............................70 Hawaii Community Federal Credit Union...................... 61 Hawaii Dental Service (HDS).........................................45 Hawaii Employers’ Mutual Insurance Co. (HEMIC).....50 Hawaii Foodservice Alliance LLC..................................45 Hawaii Health Systems Corp.........................................40 Hawaii Law Enforcement Federal Credit Union............72 Hawaii Medical Assurance Association (HMAA)........46 Hawaii Medical Service Association (HMSA)..............38 Hawaii National Bank.....................................................56 Hawaii Petroleum LLC....................................................46 Hawaii Planing Mill, Ltd..................................................43 Hawaii State Federal Credit Union................................48 Hawaii Water Service.....................................................56 Hawaiian Dredging Construction Company, Inc..........40 Hawaiian Electric Industries (HEI)................................38 Hawaiian Financial Federal Credit Union.....................58 Hawaiian Humane Society.............................................66 Hawaiian Islands Freight Association...........................70 Hawaiian Telcom............................................................43 HawaiiUSA Federal Credit Union..................................48 Hawk Tree International Inc...........................................52 Heide & Cook, LLC..........................................................56 Hensel Phelps................................................................. 41 HFS Federal Credit Union..............................................56 Hilo-Kona Subaru Hyundai............................................56 Hina Mauka.....................................................................70 Ho‘ōla Nā Pua................................................................. 74 Honolulu Authority for Rapid Transportation (HART).. 42 Honolulu Board of Water Supply....................................43 Honolulu Community Action Program, Inc...................66 Honolulu Federal Credit Union (HOCU).......................66 Honolulu Museum of Art.................................................66 Humana...........................................................................45

B Bacon-Universal Co. Inc................................................50 Bank of Hawai‘i Corp......................................................40 Barnwell Industries Inc...................................................68 Bishop & Company Inc...................................................72 Blood Bank of Hawaii.....................................................66 Bowers + Kubota Consulting Inc...................................52 Boys & Girls Club of Hawaii............................................ 74 C C. S. Wo & Sons, LLC......................................................52 Cadinha & Co., LLC......................................................... 74 Catholic Charities Hawai‘i..............................................56 CBIP Inc. dba Coldwell Banker Island Properties........56 Central Pacific Financial Corp.......................................43 Chaminade University of Honolulu................................52 Child & Family Service....................................................58 City Mill Company Ltd.....................................................54 Coastal Construction Co. Inc.........................................48 Coffman Engineers Inc...................................................64 Coldwell Banker Realty..................................................54 Commercial Roofing & Waterproofing Hawaii Inc........ 61 Connext, LLC..................................................................56

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D DB Insurance Co. Ltd......................................................52 Diamond Bakery Hawaii.................................................70 Dorvin D. Leis Co. Inc......................................................46 E East-West Center...........................................................62 Easterseals Hawaii.........................................................68 ELCCO Inc.......................................................................62 Elemental Impact............................................................62 Elite Pacific Construction Inc.........................................62 Environmental Science International, Inc..................... 74 Express Employment Professionals.............................66 F Farmers Group, Inc.........................................................62 Fernandez Entertainment Inc........................................62 Finance Factors Ltd........................................................66 First Hawaiian Bank........................................................40 First Insurance Company of Hawaii Ltd.........................42 Fly Shuttle & Tours.......................................................... 74 Fujikawa Associates Inc.................................................56 G G70.................................................................................. 61 Gather Federal Credit Union..........................................56 Gather Vacations Inc......................................................64 GEICO.............................................................................45 Gentry Homes Ltd...........................................................52 Goodfellow Bros.............................................................42 Goodwill Hawaii..............................................................58 Group Builders Inc..........................................................52 H Hale Kipa Inc................................................................... 74 Hale Makua Health Services.........................................54 Halekulani Corporation..................................................48 Hardware Hawaii............................................................56 Harold K. L. Castle Foundation...................................... 74 Hawai‘i Community Foundation....................................52 Hawai‘i Foodbank Inc.....................................................56 Hawai‘i Gas.....................................................................45 Hawai‘i Health & Harm Reduction Center.....................68 Hawai‘i Life Real Estate Services LLC..........................56

I I. Kitagawa and Co. Ltd...................................................52 IDEA Food Service USA Inc...........................................66 IHS, The Institute for Human Services Inc....................62 INPEACE.........................................................................70 Integrated Facility Services Hawaii...............................70 Integrated Security Technologies Inc............................72 ‘Iolani School..................................................................52 Isemoto Contracting Co. Ltd..........................................50

I (continued) Island Energy Services LLC...........................................40 Island Insurance Company, Ltd.....................................48 J James Campbell Company LLC....................................43 JBG Corporation.............................................................52 Jim Falk Automotive Group............................................42 John Mullen & Co., Inc....................................................72 K Kāhala Senior Living Community, Inc. dba Kāhala Nui.56 Kaiser Permanente Hawaii............................................38 Kalihi Palama Health Center..........................................62 Kama’aina Kids............................................................... 61 Kamehameha Schools................................................... 41 Kaua’i Federal Credit Union...........................................70 Kaua’i Island Utility Cooperative....................................46 Kawailoa Development LLP...........................................48 Kilauea Pest Control Inc.................................................70 Kōkua Kalihi Valley.........................................................62 Kona Coast Property Management LLC, dba Kona Coast Vacations.............................................................. 74 Kuakini Health System...................................................48 Kualoa Ranch Hawaii Inc...............................................50 Kuhio Auto Group............................................................54 Kyo-ya Hotels & Resorts, LP.......................................... 41 L Lanakila Pacific..............................................................66 Layton Construction.......................................................52 Le Jardin Academy.........................................................62 Legacy of Life Hawai‘i.....................................................70 Legal Aid Society of Hawai‘i...........................................72 Life Cycle Engineering.................................................... 74 Lōkahi Federal Credit Union..........................................62 M Malama Solar..................................................................68 Matson, Inc......................................................................38 Maui Clothing Co. Inc..................................................... 74 Maui County Federal Credit Union................................66 Maui Economic Opportunity Inc....................................58 Maui Food Bank..............................................................66 Maui Humane Society....................................................70 Maui Land & Pineapple Co. Inc......................................66 Maui Medical Group Inc.................................................56 Maui Oil Company..........................................................48 Maui Varieties Ltd. / HouseMart Stores.........................48 MC&A, Inc.......................................................................52 Merrill Lynch....................................................................56

C O M P L E X B U S I N E S S L I T I G AT I O N C O N S T RU C T I O N L AW & L I T I G AT I O N C O R P O R AT E B U S I N E S S T R A N S AC T I O N S H E A LT H C A R E R E A L E S TAT E D E VE L O PM E N T R E A L E S TAT E L I T I G AT I O N R E A L E S TAT E T R A N S AC T I O N S

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M (continued)

P (continued)

S (continued)

Mid-Pacific Institute.......................................................56 MJC Inc. dba Cutter Automotive Galleries....................48 Morgan Stanley Wealth Management..........................48 Moss................................................................................46

Parents And Children Together......................................62 Partners in Development Foundation...........................62 Pasha Hawaii..................................................................40 PBR HAWAII & Associates Inc.......................................72 PBS Hawai‘i.....................................................................70 Pearl Harbor Aviation Museum......................................72 Pearl Hawaii Federal Credit Union................................64 Pflueger Inc.....................................................................52 Pharmacare Hawaii Inc..................................................48 Pleasant Holidays LLC...................................................58 Prince Resorts Hawaii, Inc.............................................46 ProService Hawaii..........................................................42 Punahou School.............................................................48

Securitas Security Services USA, Inc...........................54 Sen Plex Corp..................................................................56 Servco Pacific Inc...........................................................38 Shioi Construction Inc. dba Creative Partition Systems...........................................................................52 St. Andrew’s Schools......................................................72 Star of Honolulu Cruises & Events................................. 61 State Farm Insurance Co...............................................42 Stoebner Holdings Inc....................................................52 Suisan Group Inc............................................................52 Sunspear Energy............................................................62 Swinerton........................................................................46

N Na Hoku, Inc....................................................................50 Nan Inc............................................................................40 New City Nissan - Rosebridge LLC................................56 Noguchi & Associates....................................................70 Nordic PCL Construction, Inc........................................42 O Office of Hawaiian Affairs...............................................64 One Kalakaua Senior Living Association......................70 Orion Engineers & Associates....................................... 74 OUTRIGGER Hospitality Group....................................42 P Pacific Fleet Submarine Memorial Association...........70 Pacific Guardian Life Insurance Company Ltd.............45 Pacific Historic Parks.....................................................70 Par Hawaii, LLC...............................................................38 Paradigm Construction LLC...........................................54

Ralph S. Inouye Co. Ltd..................................................52 RBD Hawaii Restaurants Limited..................................46 REHAB Hospital of the Pacific.......................................54 REMAX HAWAII..............................................................66 RevoluSun Smart Home / RevoluSun LLC....................58 Royal Contracting Co. Ltd..............................................52

Tanaka of Tokyo Restaurants Ltd..................................70 The Art Source Inc..........................................................64 The Hawaii Group Inc.....................................................70 The Nakupuna Companies............................................45 The Parrish Collection LLC............................................ 61 The Queen’s Health Systems.........................................38 Tony Group......................................................................43

SeaWide Express...........................................................66

UHA Health Insurance....................................................43 University of Hawai‘i.......................................................38 University of Hawai‘i Federal Credit Union.................... 61 University of Hawai‘i Foundation...................................48 University of the Nations, Kona......................................62 USS Missouri Memorial Association Inc.......................66

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V Video Warehouse, Inc....................................................70 VIP Foodservice..............................................................50 Vivia Cares, Inc............................................................... 74 W Waianae Coast Comprehensive Health Center...........50 Waikiki Health.................................................................62 Wasa Electrical Services Inc.........................................48 Watumull Brothers Ltd....................................................48 Wells Fargo Advisors......................................................62 WestPac Wealth Partners..............................................54 WSP USA.........................................................................56 X

Photo courtesy of Hawaiʻi HomeOwnership Center

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Xiber................................................................................ 74 Y Y. Hata & Co., Ltd............................................................42 YMCA of Honolulu..........................................................58 Young Brothers LLC........................................................46 Z

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Zephyr Insurance Co. Inc...............................................50

“BEING A MEMBER OF THE INAUGURAL HLA COHORT HAS BEEN ONE OF THE HIGHLIGHTS OF MY CAREER.” JOEY LEE | Director of Sales | Hawaii Dental Service

FALL COHORT 3 (SEP 11 - OCT 9)

REGISTRATION NOW OPEN The Hawai‘i Leadership Academy provides senior leaders with the fast-track, high-impact program they need to elevate their skills.

Prepare for increased responsibility in just five weeks. Guest Speakers

Lori Kahikina

Wendy Hensel

Honolulu Authority for Rapid Transit

University of Hawai‘i System

EXECUTIVE DIRECTOR

PRESIDENT

Bob Harrison

Jason Chang

CHAIRMAN, PRESIDENT AND CEO

PRESIDENT AND CHIEF EXECUTIVE OFFICER

First Hawaiian Bank

The Queen’s Health Systems

Aaron J. Sala

PRESIDENT & CEO

Hawai‘i Visitors and Convention Bureau

Hawai‘i Leadership Academy

Participants will benefit from:

•

A five-week, in-person, half-day dynamic program designed to elevate careers.

•

Personal and professional development by harnessing their innate leadership strengths.

•

Consists of five immersive Friday sessions from September 11-October 9, 2026.

•

Engaging guest speakers who will provide fresh perspectives and invaluable leadership insights.

•

Offers a personalized and impactful experience with a limited cohort size for greater engagement.

•

A powerful professional network, connecting with like-minded peers from diverse industries and organizations.

This exclusive academy is crafted for ambitious professionals, providing opportunities for personal and professional growth, leadership development, and insights from esteemed C-suite guest speakers.

This transformative experience is designed to inspire growth, expand leadership potential, and foster meaningful connections.

FO R MORE IN F ORMAT I O N V I S I T

hecouncil.org/HEC/Events/Event_display.aspx?EventKey=9260912 T H E H AWA I ‘ I L E A D E R S H I P ACA D E M Y I S A PA RT N E R S H I P B E TW E E N TH E H A WA I I E M P LOY E R S CO U N C I L A N D H A WA I I B U S I N E S S M AG A Z I N E .

LAST CH A NCE TO REG IST ER IS OCTOB ER 1 6 T H

I S YO U R C O M PA N Y O N E O F T H E

I N H AWA I ‘ I ? Our program identifies those employers who do things right by creating workplace cultures that recruit employees and make them want to stay. We give recognition where it’s due and provide employers with honest and useful feedback from their employees.

DEADLINE IS OCTOBER 16TH

YO U R R OA D M A P TO H AWA I ‘ I ’ S 2 0 26 BUSINESS EVENTS

AUG SEP OCT

August 13 Top 250 CEO Celebration

Hawai‘i Leadership Academy: Cohort Three September 17 Hawai‘i Excellence in Business Awards

October 8 HB20 (20 FOR THE NEXT 20) Impact Summit October 23 Wahine Forum Inaugural Wahine of the Year Pau Hana Celebration

NOV

November TBA CEO Roundtable

DEC

December TBA CEO of the Year Celebration

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NEWSMAKERS DESERVE CREDIT WHERE CREDIT IS DUE

COMMEMORATE YOUR

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ACHIEVEMENTS PRESERVE YOUR STORY WITH OUR MODERN AND MEMORABLE KEEPSAKES. N E W S K E E P S A K E . C O M / PA G E S / H AWA I I - B U S I N E S S

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G R E AT N E S S C A N B E L E A R N E D — L O C A L LY

The future belongs to those who can do what technology never will. Navigate uncertainty. Inspire people. Create belonging. Lead with presence when it matters most.

This fall, the Berkeley Institute for Human Connection is coming to Hawai‘i, launching a new executive leadership experience featuring Dr. Mark Rittenberg.

D R. MA RK RI T T E N BE RG

Distinguished Teaching Fellow and Senior Lecturer, UC Berkeley Haas School of Business.

He trains leaders the way actors are trained, because , , presence isn t a personality trait. It s a practice. SCAN T O A P P LY

O ‘A H U . FA L L 2 0 2 6 . A P P L I C AT I O N S O P E N

W E L C O M E D I N PA R T N E R S H I P W I T H

TrAiNINg DAy Best Places to Work: Training Day brought together Hawai‘i’s leaders, executives and HR professionals for a day of practical conversations on building stronger workplace cultures. Inspired by the experiences of Hawaii Business Magazine’s Best Places to Work honorees, attendees explored leadership, employee well-being, inclusion, trust and organizational growth through keynote presentations and peer-led discussions. Mahalo to our presenting sponsor, Tradewind Group, for making this inaugural event possible, and to our outstanding speakers for sharing their expertise. We also extend our sincere appreciation to the student volunteers from Hawai‘i Pacific University, whose professionalism and aloha helped create a welcoming experience for every attendee.

MAHALO TO OU R S PON S OR S

PRESENTING SPONSOR

SPECIAL PARTNER

“At Tradewind Group, we believe great workplaces are built through intentional leadership and a genuine commitment to people. Best Places to Work: Training Day provided an inspiring opportunity for leaders across Hawai‘i to share ideas, learn from one another, and strengthen the cultures that help employees and organizations thrive. Investing in our people is one of the most meaningful ways we can build a stronger future for our businesses and our community. Mahalo to Hawaii Business Magazine for creating a forum that champions leadership, collaboration, and the continued growth of Hawai‘i’s workforce.” — ROBERT NORIEGA Chairman TR ADEWIND GROUP

TRIAL AND ERROR

My Screen Time Is Concerning. I Bet Yours Is Too by R YA N N NOELANI COULES

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TRIAL AND ERROR

Our most precious resource is time. Here is how to stop letting your phone steal it.

very Sunday, I get a notification that tells me my average daily screen time. To my chagrin, last week’s average was 4 hours and 56 minutes a day spent on my phone. If that sounds like a lot, it’s actually on par with the rest of the country; according to a 2025 nationwide survey of 1,000 people conducted by health data management firm Harmony Healthcare IT, the average American spends 5 hours and 16 minutes on their phone every single day. Because I do most of my work on a computer, I’d say roughly 80% of my screen time on my phone is purely leisure. Using unplugged.rest/screen-time-calculator, I realized that if I keep recreationally using my phone 4 hours a day for the rest of my life (given that I’m 27 now), I will waste approximately 8.8 years of the rest of my life on my phone. That’s nearly nine years on top of however many years I’ve already wasted on my phone, computer and watching TV. When I’m on my deathbed, I doubt I’ll look back and feel grateful for the countless hours I spent staring at screens. I’ll wish I had instead spent more time reading, hiking, going to the beach and being with friends and family. I’ll wish I had used that time to achieve my goals rather than giving attention to things online that didn’t fill my cup. Not only does doomscrolling — the compulsive habit of excessively scrolling social media — harm mental health and waste personal time, but it also guts professional productivity. Data highlights how costly this distraction is for businesses: a Payless Power study revealed that Americans average 3.5 hours of doomscrolling during the

workweek, costing employers an estimated $5,600 per employee annually. Here are 3 tactics that I found effective at reducing screen time: 1. TURN ON GRAYSCALE

Our brains are hardwired to respond to vibrant colors flashing. By turning your display black and white, you make your phone less visually stimulating and therefore less addicting. Here’s how to flip the switch: • iPhone: Open Settings > Accessibility > Display & Text Size. Turn Color Filters on and select Grayscale. • Android: Open Settings > Accessibility > Vision Enhancements > Color Filters. Turn it on and select Grayscale. Turn on grayscale and try watching a YouTube video or browsing Instagram. See for yourself how much easier it is to put down the phone and redirect your attention to the real world. 2. TURN OFF UNNECESSARY NOTIFICATIONS

Smartphone alerts are engineered to hijack our brains’ dopaminergic reward system — the very network that motivates us to eat, socialize, and repeat survival behaviors. When your pocket buzzes, your brain anticipates a reward, causing a dopamine surge that reinforces the habit of checking your device. A buzz could mean a meaningful message from a loved one or an annoying alert from an app you don’t even remember downloading. Because your brain can’t tell the difference beforehand, it treats every

H AWA I I B U S I N E S S

ping like it’s worthy of immediate attention, disrupting your focus in whatever you were doing beforehand. To break this loop, I strongly recommend silencing everything but the essentials, such as texts, calls, calendar reminders and work emails. Turn off the rest. If an app wants your attention just to tell you someone posted a video or a sale is happening, revoke its notification privileges. 3. BOOKEND YOUR DAY WITH SCREEN-FREE HOURS

The morning sets the tone for the day. Being intentional with your first hour after waking up makes it significantly easier to remain intentional with your time for the rest of the day. Instead of first checking my phone or going straight to work on my computer, I’ve started setting my alarm earlier to claim the first hour for myself. I brew coffee, make my bed, wash the dishes from

the night before and read a physical book. Some mornings, I go for a short walk to a nearby cafe to grab a latte and enjoy the fresh air. Starting each new day grounding myself in the real world instead of immediately letting myself get sucked into staring at screens feels much more peaceful and productive. The same rule applies at night. The blue light emitted from devices suppresses melatonin production and tricks the brain into staying alert, making it harder to fall and stay asleep. Ditching your phone, laptop and TV for the final hour before bed allows your mind to unwind and naturally ease into a restful state. Swapping late-night doomscrolling for a calming evening routine can quickly turn into a habit you cherish. For me, that looks like brewing chamomile and lavender tea, reading a book and just talking in bed with my partner. For those of us lucky enough to live in Hawai‘i, we have a natural advantage when it comes to unplugging. From

mauka to makai, the Islands offer endless invitations to touch grass. Our coastlines boast some of the loveliest beaches in the world. Getting in the ocean — whether to swim, paddle, snorkel, dive or surf — is the ultimate way to unplug because smartphones and saltwater don’t mix. Or, if you prefer the mountains, going on a hike or nature walk also offers vitamin D, exercise, fresh air and breathtaking views. When there are so many ridges to climb and waterfalls worth trekking to, why waste an hour of beautiful weather on the weekend scrolling on social media? Breaking your addiction to technology doesn’t mean you have to become a Luddite. It’s simply about drawing a line in the sand for more meaningful and rewarding experiences in your life. H AVE A STORY I D EA OR NEWS T I P?

Let us know at news@hawaiibusiness.com

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A STRONGER HAWAI‘I STARTS WITH US. The Stronger Hawai‘i Fund is dedicated to supporting statewide disaster and emergency related preparedness, response, recovery, mitigation, and resilience. Because we can’t predict when or where disaster will strike, the fund is designed to move quickly and flexibly across all islands, deploying resources to where the need is greatest, at the moment it arises. Whether it’s Hawai‘i Island, Maui Nui, O‘ahu, or Kaua‘i, no corner of our state is out of reach.

When you give to the Stronger Hawai‘i Fund, you’re investing in a resilient Hawai‘i before, during, and after disaster.

hawaiicommunityfoundation.org

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