The 41st annual ranking of Hawai‘i’s companies and nonprofits shows a growing economy that has largely recovered from pandemic-era turmoil. While last year’s wildfire decimated businesses in Lahaina, many Top 250 companies largely weathered the disaster by having multiple locations and diversified offerings.

In a return to normal, HMSA has landed at the top of the list again, reporting a modest 3.1% increase in revenue in 2023. The local health insurance giant had occupied the top spot for seven straight years, until global events shifted the fortunes of other large Hawai‘i companies on last year’s list.

Par Hawaii was first on the Top 250 list in 2023, reflecting 2022 gross revenue, as energy prices surged after the Russian invasion of Ukraine and the subsequent U.S. boycott of Russian oil. Matson ranked second for gross revenue on that list after opening a new shipping line from China to California, and capitalizing on intense consumer demand for goods as the pandemic disrupted supply chains.

While Matson’s revenue fell nearly 29% in 2023 compared to the prior year, Chairman and CEO Matt Cox anticipated the drop when he told Hawaii Business Magazine in 2022, “I’m 100% sure that this super cycle we’re in will end and supply and demand gets back in balance.”

Matson’s 2023 year-end report notes that “consolidated operating income declined primarily due to lower volume and freight rates in our China service as the transpacific marketplace transitioned from the pandemic period.”

Par’s revenue was down 9% in 2023 amid a drop in global crude oil prices, which drive gross revenue at Hawai‘i’s sole petroleum refinery and leading distribution company.

But about 75% of companies and nonprofits on this year’s Top 250 list reported revenue gains in 2023 over 2022. Revenue was up in most sectors represented on the list, including a 20% gain among nonprofits, a 17% gain among construction and development companies, and a 16% gain in the financial sector.

The results reflect an overall solid economy. Hawai‘i’s real gross domestic product, the broadest measure of economic activity, grew by 3.6% in 2023, according to data from the UH Economic Research Organization. Inflation-adjusted visitor spending rose last year. And unemployment in the Islands was just 2.9% by the end of 2023, lower than the national average.

Yet Pessimism Abounds

Despite these rosy figures, many business leaders in Hawai‘i are worried about the current economy, marked by stubbornly high prices. The cost of housing pushed Honolulu’s consumer price inflation to 4% through much of 2023 – higher than the U.S. rate of about 3%, according to UHERO.

In a related story in the August 2024 issue of Hawaii Business Magazine, the BOSS survey of 407 local business owners and executives found that optimism about the future has steadily dropped in multiple surveys after peaking in April 2021. In the latest survey, only 16% of respondents thought the local economy would improve in the coming year or two, while 42% thought it would get worse. And just 42% were completely confident that they would be in business three years from now, compared to 56% a year earlier.

Some other trouble spots in Hawai‘i are population declines that translate into a smaller labor force and less economic growth than you would get from a growing workforce. Lagging visitor numbers – driven largely by fewer arrivals to Maui and a weak international market – are expected for the whole of 2024, along with a spending drop of about $1 billion, says Carl Bonham, executive director of UHERO, in his second-quarter economic forecast.

Bright spots are building efforts on Maui and federal construction spending, says Bonham in the 2024 forecast. In 2023, the two top construction companies on this list, Hawaiian Dredging and Nan, reported gross revenue gains of 36% and 37%, respectively, over the previous year – a trend that may drive the state’s economy in 2024.

Lahaina’s Far-reaching Impact

Many companies on the list were affected by the destruction of Lahaina on Aug. 8, 2023. In our November 2023 issue, Hawaii Business reported on Kaiser Permanente’s destroyed clinic and the rollout of its mobile clinics, and on First Hawaiian Bank’s ruined Lahaina branch and vault retrieval.

Photo: Aaron Yoshino

While these large organizations are often able to withstand calamity, pending lawsuits against Hawaiian Electric Industries, Hawaiian Telcom, Kamehameha Schools and others for alleged negligence in allowing the wildfire to start and spread could deliver a harsh financial blow.

Kaiser Permanente ranked 7 on this year’s list, and First Hawaiian ranked 12. Kaiser’s revenue was up in 2023 by more than 7% and First Hawaiian’s by more than 33%. Bank of Hawai‘i, the second-largest bank on the Top 250 list after First Hawaiian, also lost a branch on Maui but reported a nearly 31% revenue gain last year, though both banks reported lower profits in 2023.

In the middle of the list are organizations such as Maui-based VIP Foodservice – ranked 103 on this year’s list – which reported a downturn of 3.3% from the previous year’s revenue. For two months, the company lost use of its Lahaina grocery store, Island Grocery Depot, and its food-distribution service to clients such as hotels, restaurants and schools in Maui County was badly hurt.

The Pacific Whale Foundation, a nonprofit based on Maui that employs 120 people, is a marine research and conservation group that hosts educational programs for grades K-12. It also owns an eco-tour business and store near Mā‘alaea Bay to help fund its mission. From August through the end of 2023, the organization lost half its business, says executive director Kristie Wrigglesworth; gross revenue for the entire year was down more than 15%.

Smaller companies on the list, such as JR Doran/Ceramic Tile Plus, based in Kahului, saw a 15% drop in revenue over the prior year – a direct result of less business after the wildfires. Atlantis Submarines’ revenue was down 20% in 2023 after it shut down its submarine tours off Lahaina, although its Waīkikī and Kona operations continue.

Loss of Most Profitable Store

Another local company, The Art Source, ranked 179 on this year’s list, lost its single most profitable CocoNene store, which was located on Lahaina’s Front Street. CEO Kent Untermann and his wife, VP Lori Untermann, are also half owners of the building, making the loss a “double hit,” he says.

“Just before the fire, we were hitting our stride,” he says, with the Front Street store bringing in about $300,000 a month in revenue. About $130,000 a month went to support local jobs, including store employees, factory workers and artists; the company’s average pay is $33 an hour, says Untermann.

In true Untermann style, the company leapt into growth mode. “There are different ways to approach it. One is to be more conservative and the other is to be more aggressive,” he says. “I have the tendency to be more aggressive.”

Untermann says he had generous business-interruption insurance that helped the company get back on its feet. He immediately added $800,000 in equipment to the manufacturing operations in Kapolei.

At the 43,000-square-foot facility, The Art Source produces custom cabinets, closets, frames, gifts and home décor for its numerous brands, including Pictures Plus, Plus Interiors and CocoNene. It’s one of the few durable-goods manufacturers in Hawai‘i, where nondurable goods are more commonly produced; the small manufacturing sector makes up only 1.63% of the total output in the state, according to the National Association of Manufacturers.

Untermann says that while manufacturing is difficult in pricey Hawai‘i, it’s not impossible. “We believe with good automation, good people and training, and unique products that we can make things on the island, and we’re proving that you can do it.”

The company’s diversified products help it weather the economy’s highs and lows by selling to the construction industry, affluent local consumers and the tourist market, which he sees as a growth area for CocoNene.

Two new stores are opening in the coming months, adding to the seven now operating across the Islands, and more are planned. The stores sell Hawai‘i-made gifts and home décor for both the visitor and local markets, and are a recent evolution away from the slipper stores formerly operated under the brand Island Sole.

Untermann is now working with other local business leaders to advocate for restoring Front Street, which he calls “one of the richest miles of commerce in Hawai‘i.” He says that most tourist dollars in Lahaina stayed with the people who lived and worked there.

“If we don’t rebuild, we’re going to lose it,” he says. “Or worse, if it went to mainland enterprises, then all that money would leave the Islands.”

At the end of 2023, The Art Source had made up the $1 million loss it suffered last year from the Lahaina fire, reporting $22.4 million in gross sales – an increase of 3.2% over the previous year’s numbers.

Biggest Gains

Ranked by percentage change in gross annual sales/revenue

For the complete printed list, get your copy of the August 2024 issue here.

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 cynthiaw@hawaiibusiness.com.

Large Companies | Medium Companies | Small Companies | Other Categories | Hall of Fame

Businesses nationwide are contending with widespread disenchantment about work, and engagement levels are stuck at 33%, according to a Gallup survey. The vast majority of employees say they’re not happy in their jobs and they’re just doing the bare minimum, or less.

There’s no quick fix or secret formula for building an energized, committed workforce. But there are lots of ways to erode the bond between employer and employee, and it often starts at the top. Michael Kamaka, VP at Bowers + Kubota, says it succinctly: “When it comes to employees, if you don’t care about them, they’re definitely not going to care about you.”

The companies and nonprofits on Hawai‘i’s Best Places to Work 2024 list strive to create better experiences for everyone, according to surveys of employees and company representatives by the Texas-based Workforce Research Group, Hawaii Business Magazine’s partner on the project. Employees at these companies say they’re highly satisfied with their jobs, managers, co-workers and company culture, according to survey responses, and they’re overwhelmingly positive when responding to prompts such as:

• This organization treats me with dignity, not as just a number.
• I am part of a team with a common purpose.
• This organization actively promotes diversity and inclusion.
• I believe in this organization’s leadership.
• I intend to remain at this organization for the foreseeable future.

So what are these companies doing differently? How do their core principles, practices and benefits translate into employees who feel genuinely heard and valued, and who, in return, do their best work?

Two Best Places to Work, Bowers + Kubota and Parents And Children Together, rank first and third in the large companies category, and they’ve consistently performed well for over a decade. Despite being very different organizations – one is an architecture and engineering firm, the other a social services nonprofit – there are some striking, and instructive, similarities.

Both Started Small and Have Stayed True to Their Roots.

Bowers + Kubota launched as a tiny firm in 1980, and has since grown to nearly 300 employees across the Islands. As it’s grown in size, potentially burdensome processes and procedures have expanded as well.

“But we don’t want to become bureaucratic,” says Brian Bowers, president of Bowers + Kubota. “I’m proud that we’ve been able to maintain this family-centric, nimble organization that really puts the employees first.”

In 1968, Parents And Children Together started as a grassroots organization dedicated to improving life at Kuhio Park Terrace, now called the Towers of Kuhio Park, in Kalihi. Today, with a staff of more than 300, the nonprofit stays focused on the mission.

“We started as a community group that collectively came together to work on solving problems,” explains Ryan Kusumoto, president and CEO of PACT. “That foundation helps keep us going. Nothing we do happens in a vacuum … but involves listening to the community. In terms of our workplace, it means listening to your staff.”

Both Face Industrywide Challenges Finding and Keeping Employees.

Today, Bowers + Kubota confronts an ongoing workforce shortage, which means it’s competing for a small pool of engineers and other skilled professionals. Those potential hires have plenty of other job opportunities, with enticing salaries and benefits packages.

Parents And Children Together competes for talent too, and in a notoriously difficult field. Nationally, 4 in 10 employees in the social services sector leave their jobs every year, says Kusumoto, often the result of burnout from working with clients in crisis.

Like Bowers + Kubota, PACT also struggles with a shortage of highly educated and licensed professionals, especially in areas such as mental health and early learning.

Both Focus on Their People, in Ways That Go Beyond Lip Service.

To attract employees and get them to stay, the organizations have to distinguish themselves. They do it by working to create warm, collaborative cultures.

“The managers and leadership realize that the company’s biggest asset are the people. Everything we do follows that mantra. We have to take care of our people,” says Kathleen Chu, VP at Bowers + Kubota.

The company organizes mentoring opportunities, social events, volunteering activities and more to help employees feel connected to each other. At family events, top executives make sure they talk to everyone, and they visit employees in the hospital when they’re sick. “

At the end of the day, anyone can get a job with more pay and more benefits. But I don’t think you get the same camaraderie,” Kamaka says. “We have teams that are fiercely loyal to each other. They’ll do whatever it takes to help each other out. I think that connection is what people like.”

At PACT, Kusumoto says he focuses on belonging, which is a more meaningful measure than employee engagement. “When we focus on the word belonging, we think about how to get that deep connective tissue with our employees,” he explains.

It starts at the beginning of the relationship, by hiring people who share PACT’s values. “When you come to work for us, it’s because you care about this community,” he says. “We’re not here to tell people what to do. We’re here to walk alongside individuals and help them get to the place they need to be.”

He also gives new employees his cellphone number, with instructions to call or text at any time. “I want to hear their stories because that helps make me be better,” Kusumoto says. “Just saying you have an open-door policy is not enough. You have to be intentional about it.”

Both Rely on Employee Surveys to Continually Improve.

Bowers + Kubota participates in both the Hawai‘i Best Places to Work survey and a national industry-specific survey. The senior management team reviews all the responses, publicly answers employees’ questions and follows up with specific actions to address problems.

For example, after getting feedback from younger employees who were struggling with Hawai‘i’s housing costs, Bowers + Kubota rolled out a pay raise. The company also started to hold “rap sessions” between employees and managers to get people talking and sharing more.

“We’re always looking for that edge and to improve our policies and practices,” Bowers says. “Whether it’s quantitatively or qualitatively, you always want to be growing in some way as a company because if you’re not moving forward, you’re probably moving backwards.”

PACT also scours the annual Best Places survey for new ideas and to see what’s working or not. Based on employee feedback, it initiated all-gender bathrooms and formed affinity groups that encourage open dialogue among staff. And it started up an extremely low-interest microloan program to help people deal with emergencies such as car breakdowns and medical expenses.

The nonprofit introduced monthly online meetings that gather staff from across the Islands for information sharing and special speakers. And it expanded its wellness programs and training on how to handle difficult issues, such as suicide prevention.

Both Splurge on Benefits They’re Best Able to Offer.

Bowers + Kubota offers a suite of benefits, such as competitive salaries, fully paid family medical insurance and a 401(k) plan with a company match. But the company goes much further to let employees know they matter: In 2012, it launched an employee stock-ownership plan, or ESOP, which is fully funded by Bowers + Kubota.

Every employee is a shareholder, and they can withdraw their funds or roll them over into IRAs when they leave. “We’ve had people leave after only 10 years with literally hundreds of thousands of dollars in their retirement accounts,” Bowers says.

Human resources expert and Bowers + Kubota principal Amy Matsushima leads staff in elaborate role-playing games so that people understand how an ESOP works, and how their actions affect share price. “The concept can be a little challenging at first, but when they see that first statement, it starts to click into place,” she says.

At PACT, which largely operates from state and federal contracts, Kusumoto says the biggest financial challenge is making sure it can pay people competitive salaries without cutting the quality of services. The organization applies for grants, hosts fundraisers, and advocates for higher payments from state contracts, which have remained stagnant for a decade.

To improve the overall compensation package, people are given lots of paid time off to decompress and rejuvenate. Employees get 21 days of vacation; 12 sick days, of which five can be used for personal days off; and 14 days for holidays. That’s eight full weeks away from the job each year, plus extra days for sick leave.

“Our staff are dealing with individuals with mental illness, they’re dealing with the child welfare system, with domestic violence, with poverty. They’re carrying the weight of the clients we service, so it’s really tough,” Kusumoto says.

“We don’t blink an eye with regards to the amount of days we give off,” he says, “because we know that when people come to work, they work.”

Click here to see select benefits from the companies and nonprofits that made the 2024 Best Places to Work list!

Large Companies
250 or more Hawaiʻi employees

The remaining large companies are listed in alphabetical order.

AlohaCare
Headquarters: Honolulu
Employees: 270 HI
alohacare.org

Central Pacific Bank
Headquarters: Honolulu
Employees: 732 HI
cpb.bank

Child & Family Service
Headquarters: ‘Ewa Beach
Employees: 326 HI
childandfamilyservice.org

Diagnostic Laboratory Services Inc.
Headquarters: ‘Aiea
Employees: 713 HI
dlslab.com

First Hawaiian Bank
Headquarters: Honolulu
Employees: 1,984 HI
fhb.com

Hawaii State Federal Credit Union
Headquarters: Honolulu
Employees: 381 HI
hawaiistatefcu.com

HawaiiUSA Federal Credit Union
Headquarters: Honolulu
Employees: 379 HI
hawaiiusafcu.com

Island Palm Communities LLC
Headquarters: Schofield Barracks
Employees: 390 HI
islandpalmcommunities.com

Panda Restaurant Group Inc.
Headquarters: Rosemead, CA
Employees: 479 HI
pandarg.com

Prince Resorts Hawaii
Headquarters: Honolulu
Employees: 1,577 HI
princeresortshawaii.com

ProService Hawaii
Headquarters: Honolulu
Employees: 284 HI
proservice.com

Servco Pacific Inc.
Headquarters: Honolulu
Employees: 1,038 HI
servco.com

Medium Companies
50 – 249 Hawaiʻi employees

The remaining large companies are listed in alphabetical order.

American Floor & Home
Headquarters: Honolulu
Employees: 125 HI
americanfloorandhome.com

Aqua Engineers Inc.
Headquarters: Kalāheo
Employees: 93 HI
aquaengineers.com

Atlas Insurance Agency
Headquarters: Honolulu
Employees: 106 HI
atlasinsurance.com

Castaway Construction & Restoration LLC
Headquarters: Kahului
Employees: 90 HI
castawayhawaii.com

CW Associates CPAs
Headquarters: Honolulu
Employees: 71 HI
cwa.cpa

Edward Jones
Headquarters: St. Louis, MO
Employees: 140 HI
edwardjones.com

EnviroServices & Training Center LLC
Headquarters: Honolulu
Employees: 61 HI
gotoetc.com

Finance Factors Ltd.
Headquarters: Honolulu
Employees: 120 HI
financefactors.com

G70
Headquarters: Honolulu
Employees: 105 HI
g70.design

Hawai‘i Community Foundation
Headquarters: Honolulu
Employees: 83 HI
hawaiicommunityfoundation.org

Hawaii Dental Service (HDS)
Headquarters: Honolulu
Employees: 136 HI
hawaiidentalservice.com

Hawaii Diagnostic Radiology Services
Headquarters: Honolulu
Employees: 74 HI
hawaiidrs.com

Hawaii Mortgage Experts
Headquarters: Honolulu
Employees: 58 HI
hawaiimortgageexperts.com

HEMIC
Headquarters: Honolulu
Employees: 117 HI
hemic.com

Hickam Communities LLC
Headquarters: Honolulu
Employees: 90 HI
hickamcommunities.com

Hickam Federal Credit Union
Headquarters: Honolulu
Employees: 111 HI
hickamfcu.org

Island Insurance
Headquarters: Honolulu
Employees: 140 HI
islandinsurance.com

Kapili Solar Roofing & Painting
Headquarters: Waipahu
Employees: 151 HI
kapiliroof.com

Kilauea Pest Control
Headquarters: Kailua
Employees: 79 HI
kilaueapest.com

Kupu
Headquarters: Honolulu
Employees: 66 HI
kupuhawaii.org

Life Cycle Engineering
Headquarters: Charleston, SC
Employees: 60 HI
lce.com

N&K CPAs Inc.
Headquarters: Honolulu
Employees: 59 HI
nkcpa.com

Noguchi & Associates
Headquarters: Honolulu
Employees: 55 HI
nogins.com

Nordic PCL Construction Inc.
Headquarters: Edmonton, Alberta
Employees: 142 HI
nordicpcl.com

Pacific Biodiesel
Headquarters: Kahului
Employees: 84 HI
biodiesel.com

Pacific Whale Foundation
Headquarters: Wailuku
Employees: 145 HI
pacificwhale.org

Pacxa
Headquarters: Honolulu
Employees: 102 HI
pacxa.com

Pyramid Insurance
Headquarters: Honolulu
Employees: 66 HI
pyramidins.com

Ronald N.S. Ho & Associates Inc.
Headquarters: Honolulu
Employees: 65 HI
rnsha.com

Seagull Schools
Headquarters: Kailua
Employees: 134 HI
seagullschools.org

St. Andrew’s Schools
Headquarters: Honolulu
Employees: 78 HI
standrewsschools.org

UHA Health Insurance
Headquarters: Honolulu
Employees: 170 HI
uhahealth.com

Windward Auto Group LLC
Headquarters: Kāne‘ohe
Employees: 116 HI
jerryforthepeople.com

Small Companies
15 – 49 Hawaiʻi employees

The remaining large companies are listed in alphabetical order.

Better Homes and Gardens Real Estate Advantage Realty
Headquarters: Honolulu
Employees: 30 HI
betterhawaii.com

Ceramic Tile Plus and Exclusively Yours
Headquarters: Kahului
Employees: 30 HI
ceramictileplus.com

Chun Kerr LLP
Headquarters: Honolulu
Employees: 36 HI
chunkerr.com

Control Freaks Hawaii
Headquarters: Kahului
Employees: 15 HI
controlfreakshawaii.com

Diamond Head Dental Care
Headquarters: Honolulu
Employees: 29 HI
diamondheaddentalcare.com

Dynamic Planning & Response LLC
Headquarters: Honolulu
Employees: 40 HI
dynapnr.com

Hawai’i Energy / Leidos
Headquarters: Honolulu / Reston, VA
Employees: 33 HI
hawaiienergy.com

The Hawaii Group
Headquarters: Honolulu
Employees: 31 HI
thehawaiigroup.com

Hawaii Information Service
Headquarters: Honolulu
Employees: 18 HI
hawaiiinformation.com

HiEmployment
Headquarters: Honolulu
Employees: 22 HI
hi-employment.com

Independent Energy Systems
Headquarters: Honolulu
Employees: 15 HI
independentenergyhawaii.com

iQ 360
Headquarters: Honolulu
Employees: 17 HI
iq360inc.com

Lawson & Associates Inc.
Headquarters: Honolulu
Employees: 17 HI
lawsonsafety.com

Make-A-Wish Hawaii
Headquarters: Honolulu
Employees: 28 HI
hawaii.wish.org

Okahara and Associates Inc.
Headquarters: Hilo
Employees: 36 HI
okahara.com

Premier Solutions Hi LLC
Headquarters: Honolulu
Employees: 20  HI
premiersolutionshi.com

RIM Architects LLC
Headquarters: Anchorage, AK
Employees: 20 HI
rimarchitects.com

Servpac Inc.
Headquarters: Honolulu
Employees: 18 HI
servpac.com

Symbrosia
Headquarters: Kailua-Kone
Employees: 24 HI
symbrosia.co

Verity CPAs
Headquarters: Honolulu
Employees: 19 HI
veritycpas.com

WATG
Headquarters: Irvine, CA
Employees: 18 HI
watg.com

WestPac Wealth Partners
Headquarters: San Diego, CA
Employees: 40 HI
westpacwealth.com

Windward Synergy Center
Headquarters: Kailua
Employees: 17 HI
windwardsynergycenter.com

Zephyr Insurance Co. Inc
Headquarters: Honolulu
Employees: 21 HI
zephyrins.com

Other Categories

Most Family-Friendly Companies

Small Employer:
1. Express Employment Professionals of Hawaii
2. Hawaiʻi Energy / Leidos
3. USAble Life
Medium Employer:
1. New York Life Insurance
2. Nordic PCL Construction Inc.
3. Kupu
Large Employer:
1. Bayer Hawaii
2. Servco Pacific Inc.
3. Prince Resorts Hawaii

Healthiest Companies

Small Employer:
1. Express Employment Professionals of Hawaii
2. Hawaiʻi Energy / Leidos
3. WestPac Wealth Partners
Medium Employer:
1. Swinerton
2. UHA Health Insurance
3. Nordic PCL Construction Inc.
Large Employer:
1. First Hawaiian Bank
2. Prince Resorts Hawaii
3. Bowers + Kubota Consulting Inc.

Best Places to Work for Women

1. Make-A-Wish Hawaii
2. Windaward Synergy Center
3. HiEmployment
4. Better Homes and Gardens Real Estate Advantage Realty
5. New York Life Insurance

Best Places to Work for LGBTQ+ Equality

1. Hawaii Energy / Leidos
2. New York Life Insurance
3. Parents And Children Together
4. Northwestern Mutual Hawai’i
5. CW Associates CPAs

Best Restaurant to Work for in Hawaiʻi

Panda Restaurant Group Inc.

Best Place to Work in Hospitality in Hawaiʻi

Prince Resorts Hawaii

Best Place to Work on the Neighbor Islands

Okahara and Associates Inc.

Best Young Business to Work For

Windward Auto Group LLC (Founded in 2021)

Best Places to Work Rookie of the Year

Burns & McDonnell

Best Family-Owned Place to Work

Lawson & Associates Inc.

Best Places to Work Hall of Fame (number of years on the list)

• Edward Jones, 20
• Servco Pacific Inc., 20
• Island Insurance, 18
• Nordic PCL Construction Inc., 18
• ProService Hawaii, 18
• Bowers + Kubota Consulting Inc., 17
• Atlas Insurance Agency, 16
• Central Pacific Bank, 15
• First Hawaiian Bank, 14
• EnviroServices & Training Center LLC, 13
• The Hawaii Group, 13
• Hawaii State Federal Credit Union, 13
• Pacific Biodiesel, 13
• Swinerton, 13
• Panda Restaurant Group Inc., 12
• Hawaii Mortgage Experts, 11
• Pacxa, 11
• Parents And Children Together, 11
• American Floor & Home, 10
• CW Associates CPAs, 10
• Okahara and Associates Inc., 10
• Servpac Inc., 10

10 Key Drivers of Engagement

Companies that make the Best Places to Work have strong results from a confidential survey of each organization’s employees conducted by the Workforce Research Group. The survey results account for 80% of a company’s final score.

In the survey, employees are asked if they strongly agree, agree, disagree, strongly disagree or are neutral on 80 different statements. Based on this year’s survey of Hawai‘i employees, here are the main factors that lead to employee engagement.

1.  I like what I do for this organization.
2.  I believe in this organization’s leadership.
3.  This organization treats me with dignity, not as just a number.
4.  I understand what is expected of me.
5.  This organization is committed to producing high-quality products/ services.
6.  I have fun at work.
7.  My job is well-aligned with my abilities.
8.  I typically feel I make daily progress at work.
9.  We have a cooperative culture in this organization.
10.  I believe my compensation is fair.

2024 Benefits at a Glance

Click the table to get a closer look!

Do You Want to Be a Best Place to Work? Nominate Your Company.

Register your company now for the Best Places to Work survey at bestplacestoworkhawaii.com. Deadline to register is Oct. 18, 2024.

From international corporations to popular local brands, from health care networks to credit unions, from large nonprofits to luxury resorts, Black Book tells you all about the people who are running them.

The 416 profiles provide quick information about their professional and personal lives, as well as a who’s who of the people running every important sector in the state: construction and development, education, energy, finance, health care, insurance, nonprofits, real estate, retail and wholesale, tourism, technology, transportation and more.

With 55 more profiles this year than last, many of the executives are new to Black Book 2023. And many sections have grown significantly from last year, including finance, nonprofits, retail/wholesale and the tourism/leisure industry.

We welcome others who would like to be in future editions. Black Book is comprised of leaders of Top 250 companies and nonprofits in the state. That annual ranking is based on gross revenues from the previous year, which Hawaii Business Magazine collects via surveys and independent research. All executives on the Top 250 list are invited to participate in Black Book.

If you’d like to receive surveys from Hawaii Business Magazine, please email cynthiaw@hawaiibusiness.com.

Black Book 2023

Notes

Professional Experience: Some executives only note recent positions, while others detail the full scope of their careers. We publish as much information as possible, with light editing.

Boards: These include advisory, governance, directorial, corporate and community boards, associations and business organizations.

Club Membership: These include recreational clubs such as golf and country clubs, as well as business and community clubs.

Accomplishments: Includes awards, significant achievements, recognitions of service and various other milestones, generally professional in nature.

Noteworthy: Can include personal achievements, interesting facts and more colorful details.

Jump to a section in the list:
A-C  |  D-G  |  H-I  |  J-L  |  M-R  |  S-Z

Nonprofits help Hawai‘i thrive, but they couldn’t do their crucial work without generous donations of time and money. That’s where Hawai‘i’s private businesses and philanthropic institutions come in, contributing year after year.

The 80 companies and charitable organizations on this year’s Most Charitable Companies list gave nearly $241 million and 73,768 volunteer hours in 2022. The money, time and effort help sustain an array of groups working to improve health care, housing, education, food security and community farming, the environment, animal welfare and other vital areas.

Every summer we survey companies and nonprofits to gather information on the previous year’s cash and in-kind donations, as well as employees’ volunteer hours during work time or through company-sponsored events.

The top five givers on the list this year are all charitable organizations with wide-ranging missions to help Hawai‘i’s people: Hawai‘i Community Foundation, UH Foundation, Kamehameha Schools, Aloha United Way, and The Harry and Jeanette Weinberg Foundation. Two of these givers, the UH Foundation and Aloha United Way, were also top receivers of donations from companies on the list, with 26 naming Aloha United Way or United Way branches on the Neighbor Islands as a primary recipient, and 22 naming the UH Foundation or specific university programs.

Among for-profit companies, First Hawaiian Bank was the top charitable giver in 2022, donating $6.3 million and 11,264 volunteer hours. Rounding out the top five among for-profit companies are Matson, Bank of Hawai‘i, Hawai‘i Foodservice Alliance and Hawaiian Electric Industries.

Congratulations to these organizations, and all the others on this list, for their generosity and hard work.

Related Story: When Fire Struck Lahaina, Hawai‘i’s Private Sector Rushed in to Help

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AHL

About: For-profit architecture, interior design, planning, sustainability, existing building services and historic architecture firm
Employees: 86
Company’s Total Cash and In-Kind Donations: $238,899
Employee Volunteer Hours: 975
Top Nonprofits Supported: Aloha United Way, Child & Family Service, Aloha Tree Alliance
ahl.design

Alaka‘ina Foundation

About: Nonprofit Native Hawaiian organization
Employees: 1,400
Company’s Total Cash and In-Kind Donations: $1,642,000
Top Nonprofits Supported: Pauahi Foundation, UH Foundation, Chaminade University, Alaka‘ina Digital Bus Program
alakainafoundation.org

Alaska Airlines

About: For-profit commercial airline
Employees: 10
Company’s Total Cash and In-Kind Donations: $583,430
Top Nonprofits Supported: travel2change, Kupu Hawaii, Aloha United Way, Kanu Hawaii, ClimbHI
alaskaair.com

Alexander & Baldwin

About: For-profit commercial real estate company
Employees: 107
Company’s Total Cash and In-Kind Donations: $975,000
Employee Volunteer Hours: 572
Top Nonprofits Supported: Aloha United Way, Maui United Way, Hawai‘i Symphony Orchestra, Kaunoa Senior Services – Nutrition Program, Pu‘uhonua O Wai‘anae
alexanderbaldwin.com

Aloha Green Holdings

About: For-profit, state-licensed medical cannabis dispensary
Employees: 98
Company’s Total Cash and In-Kind Donations: : $50,000
Employee Volunteer Hours: 240
Top Nonprofits Supported: AccesSurf, Honolulu Zoo, Hawai‘i Health & Harm Reduction Center, Hawai‘i Appleseed, Hawai‘i LGBT Legacy Foundation
agapoth.com

Aloha United Way

Top 10 Donor

About: Nonprofit charitable organization
Employees: 48
Company’s Total Cash and In-Kind Donations: $13,368,000
Employee Donations: $30,068
Top Nonprofits Supported: Catholic Charities Hawai‘i, The Institute for Human Services, Kōkua Kalihi Valley Comprehensive Services, Hawai‘i Foodbank, Waikīkī Community Center
auw.org

AlohaCare

About: Nonprofit health insurance provider
Employees: 268
Company’s Total Cash and In-Kind Donations: $1,054,127
Employee Volunteer Hours / Monetary Donations: 463 / $23,755
Top Nonprofits Supported: Healthy Mothers Healthy Babies, Waikiki Health, University Health Partners of Hawai‘i, Hawai‘i Foodbank, Mālama I Ke Ola Health Center
alohacare.org

American Floor & Home

About: For-profit retail flooring and installation company, with remodeling services
Employees: 140
Company’s Total Cash and In-Kind Donations: $160,000
Employee Volunteer Hours / Monetary Donations: 240 / $63,000
Top Nonprofits Supported: Aloha United Way, Pali Momi Medical Center, The Salvation Army, Grassroot Institute of Hawaii, Navian Hawaii
americanfloorandhome.com

American Savings Bank

About: For-profit banking and financial services company
Employees: 1,100
Company’s Total Cash and In-Kind Donations: $1,462,474
Employee Volunteer Hours / Monetary Donations: 12,329 / $212,043
Top Nonprofits Supported: Aloha United Way, Child & Family Service, Kapiolani Health Foundation, Kupu Hawaii, Partners in Development Foundation
asbhawaii.com

Most Charitable Spotlight

Photo: courtesy of Kupu Hawaii

Members of the Kupu ‘Āina Corps help the nonprofit Kauluakalana plant kalo at the 25-acre Manu site in Kailua, O‘ahu. It’s the first time the land has been cultivated in more than a century. Since starting up in 2007, Kupu Hawaii participants have logged about 3 million hours of service, planted more than 1.5 million native specimens and removed 151,000 acres of invasive species. The organization has trained about 5,700 young people for jobs in conservation, sustainability, the culinary arts and environmental education. Four companies on this year’s list – Alaska Airlines, American Savings Bank, Finance Factors and Par Hawaii – named Kupu Hawaii as a primary beneficiary of their giving in 2022.

The Art Source

About: For-profit manufacturer and retailer of framed art, cabinets, closet systems; retailer of top slipper brands
Employees: 165
Company’s Total Cash and In-Kind Donations: $45,000
theartsourceinc.com

Atlas Insurance Agency

About: For-profit insurance agency
Employees: 94
Company’s Total Cash and In-Kind Donations: $250,477
Top Nonprofits Supported: PBS Hawai‘i, Parents And Children Together, Hawaii Theatre, Hale Mahaolu, Hale Makua Health Services, Child & Family Service
atlasinsurance.com

Bank of Hawai‘i

Top 10 Donor, Third Place Employee Giving

About: For-profit financial services company
Employees: 2,105
Company’s Total Cash and In-Kind Donations: $3,400,000
Employee Volunteer Hours / Monetary Donations: 6,026 / $577,202
Top Nonprofits Supported: Aloha United Way, American Red Cross of Hawaii, Hawai‘i Foodbank, The Institute for Human Services, UH Foundation
boh.com

Better Homes and Gardens Real Estate Advantage Realty

About: For-profit real estate company
Employees: 201
Company’s Total Cash and In-Kind Donations: $50,601
Employee Volunteer Hours / Monetary Donations: 51 / $10,522
Top Nonprofits Supported: UH Foundation’s Advantage Kokua Scholarship, Alzheimer’s Association, Habilitat, Ho‘ōla Nā Pua, The Salvation Army
betterhawaii.com

Bishop & Company

About: For-profit staffing, executive recruitment company
Employees: 10
Company’s Total Cash and In-Kind Donations: $28,719
Top Nonprofits Supported: Women’s Fund of Hawai‘i, American Red Cross of Hawaii
bishopco.net

Blood Bank of Hawaii

About: Nonprofit sole provider of blood components to Hawai‘i hospitals
Employees: 164
Company’s Total Cash and In-Kind Donations: $61,558
Top Nonprofits Supported: HUGS, Hawai‘i Foodbank, Blood Centers of America Foundation, Adventist Health Castle
bbh.org

Bowers + Kubota Consulting

About: For-profit engineering and architecture company
Employees: 277
Company’s Total Cash and In-Kind Donations: $218,800
Employee Volunteer Hours / Monetary Donations: 1,250 / $42,830
Top Nonprofits Supported: Aloha United Way, Hawai‘i Foodbank, AdoptA-Highway, UH Foundation, American Public Works Association
bowersandkubota.com

Cades Schutte LLP

About: For-profit law firm
Employees: 155
Company’s Total Cash and In-Kind Donations: $47,700
Employee Volunteer Hours / Monetary Donations: 1,188 / $12,997
cades.com

Central Pacific Financial Corp.

About: For-profit financial institution
Employees: 743
Company’s Total Cash and In-Kind Donations: $1,810,000
Employee Volunteer Hours / Monetary Donations: 6,200 / $430,000
cpb.bank

Century 21 iProperties Hawaii

About: For-profit real estate sales
Employees: 4
Company’s Total Cash and In-Kind Donations: $33,859
Employee Volunteer Hours: 1,040
Top Nonprofits Supported: Hawaii State Senior Center, Big Brothers Big Sisters, Korean Catholic Community, Hawaii HomeOwnership Center, Hope For Dogs Rescue
c21ipropertieshawaii.com

Child & Family Service

About: Nonprofit human services counseling
Employees: 324
Company’s Total Cash and In-Kind Donations: $14,707
Employee Volunteer Hours: 338
Top Nonprofits Supported: Hawai‘i Data Collaborative, Kaua‘i United Way, Maui United Way
childandfamilyservice.org

The Clarence T.C. Ching Foundation

Top 10 Donor

About: Nonprofit private foundation
Employees: 2
Company’s Total Cash and In-Kind Donations: $5,790,474
Top Nonprofits Supported: Saint Louis School, Punahou’s PUEO Program, PBS Hawai‘i, St. Francis Healthcare System, REHAB Hospital of the Pacific
clarencetcchingfoundation.org

Clinical Labs of Hawaii

About: For-profit medical and clinical laboratory
Employees: 777
Company’s Total Cash and In-Kind Donations: $130,433
Employee Volunteer Hours: 40
Top Nonprofits Supported: Straub Foundation, American Heart Association, Kapiolani Health Foundation, Hilo Medical Center Foundation
clinicallabs.com

Coconut Condos

About: For-profit vacation rental management company
Employees: 13
Company’s Total Cash and In-Kind Donations: $92,374
Employee Volunteer Hours: 30
Top Nonprofits Supported: Compassion International, Cup of Cold Water Ministries, Maui Food Bank, Kumulani Chapel, Faithfully Restored
coconutcondos.com

This Lahaina-based company was impacted by the wildfires. To support its team members, go to https://bit.ly/45YoPSy.

Contract Furnishers of Hawaii

About: For-profit, Herman Miller-certified dealer providing furnishings to businesses, government, health care and higher education
Employees: 42
Company’s Total Cash and In-Kind Donations: $13,767
Top Nonprofits Supported: Hawai‘i Rotary, UH Foundation, Ho‘ōla Nā Pua, Women’s Fund of Hawai‘i, Diamond Head Theatre
op-hawaii.com

Corteva Agriscience

About: For-profit agriculture company
Employees: 161
Company’s Total Cash and In-Kind Donations: $72,500
Employee Volunteer Hours / Monetary Donations:  350 / $20,000
Top Nonprofits Supported: Hawai‘i Foodbank, Agricultural Leadership Foundation of Hawai‘i, Hawai‘i Farm Bureau, Kaua‘i United Way, Kaua‘i Independent Food Bank
hawaii.corteva.com

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Dorvin D. Leis Co.

About: For-profit mechanical contractor
Employees: 400
Company’s Total Cash and In-Kind Donations: $131,000
Top Nonprofits Supported: American Heart Association, Maui Health Foundation, Special Olympics Hawai‘i, Boy Scouts of America – Aloha Council, GIFT Foundation of Hawaii
leisinc.com

Dynamic Planning & Response

About: For-profit, service-disabled, veteran-owned small business
Employees: 54
Company’s Total Cash and In-Kind Donations: $168,000
Top Nonprofits Supported: Fellowship of Christian Athletes, Feeding Hawai‘i Together, Oahu Veterans Council and Center, Kīnā‘ole Foundation
dynapnr.com

Finance Factors

About: For-profit company specializing in residential mortgages, CRE loans, savings accounts, certificates of deposit
Employees: 113
Company’s Total Cash and In-Kind Donations: $94,150
Employee Volunteer Hours / Monetary Donations:  2,175 / $11,803
Top Nonprofits Supported: Kupu Hawaii, Native Hawaiian Legal Corporation, Girl Scouts of Hawaii, American Judicature Society, Assets School
financefactors.com

First Hawaiian Bank

Top 10 Donor, First Place Employee Giving

About: For-profit banking and financial services company
Employees: 2,093
Company’s Total Cash and In-Kind Donations: $6,341,174
Employee Volunteer Hours / Monetary Donations: 11,264 / $932,310
Top Nonprofits Supported: ‘Aha Pūnana Leo, Bishop Museum, Child & Family Service, Kaua‘i Housing Development Corp., The Queen’s Health System
fhb.com

First Insurance Company of Hawaii

About: For-profit property and casualty insurance company
Employees: 244
Company’s Total Cash and In-Kind Donations: $707,274
Employee Donations: $20,000
Top Nonprofits Supported: American Heart Association, Aloha United Way, American Red Cross of Hawaii, UH Foundation, Mālama Learning Center
ficoh.com

Most Charitable Spotlight

Photo: courtesy of Boys & Girls Club of Hawaii

A young participant of the Boys & Girls Club of Hawaii’s after-school programs shows the Native Hawaiian cordage techniques she mastered and tested for strength. Every year at the nonprofit’s nine clubhouses on O‘ahu and Kaua‘i, thousands of young people engage in art, activities and sports, while also getting homework help and healthy food. The programs fill the gap between the school day ending and parents returning home – a vulnerable time when many children and teens, particularly those from low-income working families, are left on their own. The nonprofit was named as a primary recipient of charitable giving by Hawaii State Federal Credit Union, Hilton Grand Vacations, Locations, Servco Pacific and Waikiki Health.

G70

About: For-profit architecture, planning and environmental services, interior design, civil engineering, sustainable development and technology services company
Employees: 102
Company’s Total Cash and In-Kind Donations: $363,356
Employee Volunteer Hours / Monetary Donations: 151 / $2,500
Top Nonprofits Supported: Waikīkī Community Center, The Salvation Army, Oahu Economic Development Board, YWCA O‘ahu, Hawai‘i Foodbank
g70.design

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The Harry and Jeanette Weinberg Foundation

Top 10 Donor

About: Private charitable foundation
Employees: 61
Company’s Total Cash and In-Kind Donations: $12,648,000
Top Nonprofits Supported: Pu‘uhonua O Wai‘anae, Partners in Development Foundation, Hawai‘i Community Lending, The Food Basket, Hui Mālama i ke Ala ‘Ūlili
hjweinberg.org

Hawai‘i Community Foundation

Top 10 Donor

About: Nonprofit community foundation
Employees: 73
Company’s Total Cash and In-Kind Donations: $63,300,000
Employee Donations: $20,000
Top Nonprofits Supported: As one of the largest grantmakers in Hawai‘i, HCF supports numerous nonprofits in the state.
hawaiicommunityfoundation.org

Hawaii Dental Service

About: Nonprofit dental benefits provider
Employees: 131
Company’s Total Cash and In-Kind Donations: $1,481,954
Employee Donations: $20,315
Top Nonprofits Supported: UH’s John A. Burns School of Medicine, UH Foundation, Hawaii Academy of Science, HDS Foundation, ‘Iolani ‘Āina-Informatics
HawaiiDentalService.com

Hawai‘i Foodservice Alliance

Top 10 Donor

About: For-profit wholesale food distribution and manufacturing company
Employees: 550
Company’s Total Cash and In-Kind Donations: $3,016,580
Top Nonprofits Supported: Hawai‘i Foodbank, Kaua‘i Food Bank, Waianae Coast Comprehensive Health Center’s ‘Elepaio Social Services Program
hfahawaii.com

Hawai‘i Gas

About: For-profit, full-service gas energy company
Employees: 353
Company’s Total Cash and In-Kind Donations: $281,730
Employee Volunteer Hours / Monetary Donations: 350 / $30,669
Top Nonprofits Supported: Aloha United Way, Special Olympics Hawai‘i, American Red Cross of Hawaii, Hawai‘i Agricultural Foundation, Hawai‘i Green Growth, UH Foundation
hawaiigas.com

The Hawaii Group

About: For-profit accounting and tax services, HR outsourcing, health care staffing, home care, consulting and advisory services company
Employees: 167
Company’s Total Cash and In-Kind Donations: $15,000
Employee Volunteer Hours / Monetary Donations: : 300 / $3,000
Top Nonprofits Supported: AccesSurf, Mālama Maunaloa, Kapi‘olani Community College and UH, Charity Walk, Special Olympics Hawai‘i, Hawai‘i State Coalition Against Domestic Violence
thehawaiigroup.com

Hawai‘i Life Real Estate Services

About: For-profit real estate sales, and long-term and vacation rentals company
Employees: 57
Company’s Total Cash and In-Kind Donations: $132,713
Top Nonprofits Supported: Hawai‘i Land Trust, Hawai‘i Community Foundation, Maui Film Festival
hawaiilife.com

Hawaii Medical Assurance Association

About: Non-profit health insurance company
Employees: 3
Company’s Total Cash and In-Kind Donations: $179,500
Top Nonprofits Supported: American Heart Association, Alzheimer’s Association, American Diabetes Association, St. Francis Healthcare Foundation, March of Dimes
hmaa.com

Hawaii Medical Service Association

About: Nonprofit health organization, health insurance
Employees: 1,277
Company’s Total Cash and In-Kind Donations: $1,095,000
Employee Volunteer Hours / Monetary Donations: 1,380 / $143,711
Top Nonprofits Supported: Aloha United Way, UH Foundation, Blood Bank of Hawaii, Healthy Mothers Healthy Babies, Ohana Pacific Foundation
hmsa.com

Hawaii State Federal Credit Union

About: Nonprofit credit union
Employees: 385
Company’s Total Cash and In-Kind Donations: $136,038
Top Nonprofits Supported: Friends of the Library of Hawaii, GIFT Foundation of Hawaii, Chaminade University, Boys & Girls Club of Hawaii, Parents And Children Together, Kapiolani Health Foundation
hawaiistatefcu.com

Most Charitable Spotlight

Photo: Ryann Noelani Coules

More than 200 houseless people live at Pu‘uhonua O Wai‘anae, a self-organized community near the Wai‘anae harbor. Through fundraising by their nonprofit, Dynamic Community Solutions, the group purchased nearly 20 acres of land in Wai‘anae Valley and is now building permanent dwellings with communal kitchens and bathrooms, surrounded by land for growing food. The Pu‘uhonua O Wai‘anae Farm Village project was named as a primary recipient of charitable giving by Alexander & Baldwin and The Harry and Jeanette Weinberg Foundation; the latter gave a $1 million capital grant in 2022. Other recent funders on the Most Charitable list include Cades Schutte, Central Pacific Bank, The Clarence T.C. Ching Foundation, G70 and First Hawaiian Bank.

Hawaiian Airlines

About: For-profit commercial airline
Employees: 6,226
Company’s Total Cash and In-Kind Donations: $951,402
Employee Volunteer Hours: 6,795
Top Nonprofits Supported: Kāko‘o ‘Ōiwi, KEY Project, Ko‘olau Mountains Watershed Partnership, Friends of Hakalau Forest National Wildlife Refuge, Hawai‘i Foodbank
hawaiianairlines.com

Hawaiian Electric Industries

Second Place Employee Giving

About: For-profit energy and financial services company
Employees: 3,602
Company’s Total Cash and In-Kind Donations: $3,000,000
Employee Donations: $750,000
Top Nonprofits Supported: Aloha United Way and United Way branches on Neighbor Islands, UH Foundation, Hawai‘i Community Foundation, Polynesian Voyaging Society
hei.com

Hawaiian Host Group

About: For-profit consumer packaged-goods company
Employees: 335
Company’s Total Cash and In-Kind Donations: $217,800
Top Nonprofits Supported: Hawai‘i Foodbank, Merrie Monarch Festival, Aloha United Way, Hawai‘i Agricultural Foundation, YWCA O‘ahu
hawaiianhostgroup.com

Hawaiian Ocean Adventures

About: For-profit, Hawaiian-owned beach stand and sailing canoe activities company at Disney Aulani and Four Seasons
Employees: 16
Company’s Total Cash and In-Kind Donations: $20,010
Employee Volunteer Hours: 280
Top Nonprofits Supported: Da Hui Paddle Race, Da Hui Backdoor Shootout, Kahuku Motocross Park, Kawaipuna Foundation
hawaiianoceanadventures.com

Hawaiian Telcom

About: For-profit provider of integrated communications, broadband, data center and entertainment
Employees: : 1,200
Company’s Total Cash and In-Kind Donations: $1,225,217
Employee Volunteer Hours / Monetary Donations: 3,256 / $124,751
Top Nonprofits Supported: American Heart Association, Hawaii Island Adult Care, Aloha United Way, Palama Settlement, Catholic Charities Hawai‘i
hawaiiantel.com

HawaiiUSA Federal Credit Union

About: Nonprofit credit union
Employees: 380
Company’s Total Cash and In-Kind Donations: $380,355
Employee Volunteer Hours: 1,578
Top Nonprofits Supported: Hawai‘i Lodging & Tourism Association’s Kaua‘i Charity Walk, Weed and Seed Hawaii, Alzheimer’s Association, Catholic Charities Hawai‘i’s Lanakila Multi-Purpose Senior Center, Partners in Development Foundation
hawaiiusafcu.com

Hilton Grand Vacations

About: For-profit vacation ownership company
Company’s Total Cash and In-Kind Donations: $202,236
Employee Volunteer Hours / Monetary Donations: 1,970 / $32,093
Top Nonprofits Supported: Aloha United Way, Habitat for Humanity, Boys & Girls Club of Hawaii, Clean the World, Waipā Foundation
hiltongrandvacations.com

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JR Doran Inc. / Ceramic Tile Plus and Exclusively Yours

About: For-profit, family-owned tile, countertop and cabinetry store
Employees: 30
Company’s Total Cash and In-Kind Donations: $50,000
Top Nonprofits Supported: Hawaii Animal Rescue Foundation, Maui Search and Rescue, UH Shidler College of Business, Friends of the Children’s Justice Center, Maui Food Bank; also, donates parking lot and water every Saturday to nonprofits for car-wash fundraisers
ceramictileplus.com

Kāhala Nui

About: Nonprofit life plan community
Employees: 201
Company’s Total Cash and In-Kind Donations: $1,396,493
Employee Volunteer Hours: 883
Top Nonprofits Supported: Alzheimer’s Association, Catholic Charities Hawai‘i, Hawai‘i Meals on Wheels, Kōkua Kalihi Valley Comprehensive Services, Project Dana
kahalanui.com

Kaiser Permanente Hawaii

About: Nonprofit integrated health care organization, health plan and medical care
Employees: 2,834
Company’s Total Cash and In-Kind Donations: $1,915,000
Employee Volunteer Hours / Monetary Donations: 1,707 / $900
Top Nonprofits Supported: Partners In Care, Project Vision Hawai‘i, Hawaiian Community Assets, The Institute for Human Services, Feed the Hunger
kp.org

Kamehameha Schools

Top 10 Donor

About: Private, nonprofit charitable educational trust
Employees:  2,210
Company’s Total Cash and In-Kind Donations: $44,025,436
Employee Donations: $120,730
Top Nonprofits Supported: Ho‘okāko‘o Corp., Chaminade University, UH Foundation, UH System, Partners in Development Foundation
ksbe.edu

Kawailoa Development

About: For-profit resort and golf course
Employees: 891
Company’s Total Cash and In-Kind Donations: $90,000
Top Nonprofits Supported: Hawai‘i Community Foundation, UH Foundation, Wilcox Health Foundation, Island School
poipubaygolf.com | grandhyattkauai.com

Kilauea Pest Control Inc.

About: For-profit termite and general pest control services company
Employees: 61
Company’s Total Cash and In-Kind Donations: $124,500
Employee Volunteer Hours: 50
Top Nonprofits Supported: The Salvation Army, Child & Family Service, Latter-Day Saint Charities, Girl Scouts of Hawaii, Boy Scouts of America – Aloha Council
kilaueapest.com

Kualoa Ranch Hawaii

About: For-profit visitor attraction, cattle ranching, diversified agriculture and real estate company
Employees: 349
Company’s Total Cash and In-Kind Donations: $372,134
Top Nonprofits Supported: Kualoa Ranch Foundation, UH Foundation, Agricultural Leadership Foundation of Hawai‘i, KEY Project, Native Hawaiian Hospitality Association
kualoa.com

Kyo-ya Hotels & Resorts

About: For-profit hotel and resort company
Employees: 2,495
Company’s Total Cash and In-Kind Donations: $296,980
Employee Volunteer Hours / Monetary Donations: 1,653 / $83,400
kyoyahotelsandresorts.com

Layton Construction

About: For-profit commercial construction company
Employees: 62
Company’s Total Cash and In-Kind Donations: $26,416
Employee Volunteer Hours / Monetary Donations: 1,939 / $363,000
Top Nonprofits Supported: 5 For The Fight, Habitat for Humanity, Special Olympics Hawai‘i, Adopt A Family, Wilcox Health Foundation
laytonconstruction.com

Locations

About: For-profit real estate sales and services company
Company’s Total Cash and In-Kind Donations: $198,688
Employee Volunteer Hours: 727
Top Nonprofits Supported: Backpack to School, Boys & Girls Club of Hawaii, Family Programs Hawaii, Hawaiian Hope, UH Foundation
locationshawaii.com

M-R

MacNaughton

About: For-profit real estate development and investment company
Employees: 20
Company’s Total Cash and In-Kind Donations: $332,186
Employee Volunteer Hours / Monetary Donations: 272 / $7,575
Top Nonprofits Supported: U.S. Vets, Teach For America, Special Olympics Hawai‘i, American Red Cross of Hawaii, Housing Hawai‘i’s Future
macnaughton.com

Matson

Top 10 Donor

About: For-profit ocean transportation, logistics and supply chain services company
Employees: 2,362
Company’s Total Cash and In-Kind Donations: $5,900,000
Employee Donations: $202,000
Top Nonprofits Supported: Hawai‘i Foodbank, United Way (O‘ahu, Hawai‘i, Maui, Kaua‘i, Moloka‘i branches), American Heart Association, Catholic Charities Hawai‘i, American Red Cross of Hawaii
matson.com

Maui Divers of Hawaii

About: For-profit fine jewelry manufacturer, wholesaler and retailer
Employees: 160
Company’s Total Cash and In-Kind Donations: $120,000
mauidivers.com

The Nakupuna Companies

About: : For-profit, Native Hawaiian-owned family of companies
Employees: 822
Company’s Total Cash and In-Kind Donations: $1,825,266
Employee Volunteer Hours / Monetary Donations: 197 / $15,471
Top Nonprofits Supported: Pauahi Foundation, Polynesian Voyaging Society, APIA Scholars, Purple Mai‘a Foundation, Mālama Loko Ea Foundation
nakupuna.com

Nordic PCL Construction

About: For-profit general contractor
Employees: 250
Company’s Total Cash and In-Kind Donations: : $338,602
Employee Volunteer Hours / Monetary Donations: 900 / $38,946
Top Nonprofits Supported: Aloha United Way, Special Olympics Hawai‘i, Kapiolani Health Foundation, UH Foundation, American Heart Association
nordicpcl.com

Only the Best Inc.

About: For-profit clothing manufacturer and retailer
Employees: 200
Company’s Total Cash and In-Kind Donations: : $107,000
Employee Volunteer Hours / Monetary Donations: 165 / $1,500
Top Nonprofits Supported: Ronald McDonald House Charities, Soles4Souls, American Red Cross of Hawaii, Hawaiian Humane Society, Maui Humane Society
crazyshirts.com

Pacxa

About: For-profit consulting services, cloud services, managed services, value-added resale company
Employees: 95
Company’s Total Cash and In-Kind Donations: $32,900
Employee Volunteer Hours / Monetary Donations: : 88 / $455
Top Nonprofits Supported: Hawai‘i Executive Collaborative, Waipahu Public Library, American Heart Association, Alzheimer’s Association, Navian Hawaii
pacxa.com

Par Hawaii

About: : For-profit refining, distribution and marketing of petroleum products and transportation fuels company
Employees: 607
Company’s Total Cash and In-Kind Donations: $424,567
Employee Donations: $32,000
Top Nonprofits Supported: Aloha United Way, Special Olympics Hawai‘i, Hawai‘i Nature Center, Hawaiian Canoe Racing Association, Kupu Hawaii
parhawaii.com

Pasha Hawaii

About: : For-profit ocean transportation company, operating between Hawai‘i and the U.S. West Coast for containerized and roll-on/ roll-off cargo
Employees: 483
Company’s Total Cash and In-Kind Donations: $700,817
pashahawaii.com

Prince Resorts Hawaii

About: For-profit hotel, hotel management services and golf course company
Employees: 1,290
Company’s Total Cash and In-Kind Donations: $1,161,361
Employee Volunteer Hours / Monetary Donations: 1,368 / $94,928
Top Nonprofits Supported: The Nature Conservancy of Hawai‘i, Hawaiian Legacy Reforestation Initiative, Hawai‘i Land Trust – Mahukona, Charity Walk, Hawai‘i Island United Way
princeresortshawaii.com

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Servco Pacific

About: For-profit company specializing in automotive distribution and retail, musical instruments, car sharing, venture/growth capital
Employees: : 2,210
Company’s Total Cash and In-Kind Donations: $315,203
Employee Volunteer Hours / Monetary Donations: 1,852 / $198,578
Top Nonprofits Supported: Boys & Girls Club of Hawaii, UH Foundation, Catholic Charities Hawai‘i, Honolulu Habitat for Humanity, Kaua‘i United Way
servco.com

Symbrosia

About: For-profit, cleantech startup dedicated to reducing livestock methane emissions with Limu kohu
Employees: 26
Company’s Total Cash and In-Kind Donations: : $14,600
Employee Volunteer Hours: 573
Top Nonprofits Supported: Kua‘āina Ulu ‘Auamo, Hui Ho‘olako for Hawaiian Initiatives, Kupa ‘Āina o Keauhou, Hui Kaloko Honokōhau
ahl.designsymbrosia.co

UHA Health Insurance

About: Nonprofit health insurance, workplace wellness solutions company
Employees: 167
Company’s Total Cash and In-Kind Donations: $660,000
Employee Volunteer Hours / Monetary Donations: 34 / $10,000
Top Nonprofits Supported: Kapiolani Health Foundation, American Heart Association, American Red Cross of Hawaii, Assets School, Friends of Hawaii Charities
uhahealth.com

United Airlines

About: For-profit commercial airline
Company’s Total Cash and In-Kind Donations: $530,000
Employee Volunteer Hours: 529
Top Nonprofits Supported: Elemental Excelerator, Kanu Hawaii, Girl Scouts of Hawaii, Movers & Shakas
united.com

University of Hawai‘i

About: Nonprofit higher education and research institution
Employees: 8,164
Company’s Total Cash and In-Kind Donations: See UH Foundation
Employee Volunteer Hours: $214,594
Top Nonprofits Supported: Aloha United Way, Hawai‘i Foodbank
hawaii.edu

Most Charitable Spotlight

Photo: courtesy of Hawai’i Foodbank

In 2022, Hawai‘i Foodbank distributed 17.4 million pounds of food on O‘ahu and Kaua‘i, including 4.6 million pounds of fresh produce. On average, the nonprofit helps feed more than 120,000 people a month, many of whom would go hungry without the assistance. Hawai‘i Foodbank says the number of food-insecure people in Hawai‘i is high, with 1 in 6 residents experiencing hunger in the past year, including 1 in 4 keiki. Thirteen donors on the Most Charitable Companies list named Hawai‘i Foodbank as one of their top recipients: Aloha United Way, AlohaCare, Bank of Hawai‘i, Blood Bank of Hawaii, Bowers + Kubota Consulting, Corteva Agriscience, G70, Hawaii Foodservice Alliance, Hawaiian Airlines, Hawaiian Host Group, Matson, University of Hawai‘i and Young Brothers.

University of Hawai‘i Foundation

Top 10 Donor

About: Nonprofit provider of alumni services and fundraising for UH
Employees: 91
Company’s Total Cash and In-Kind Donations: $48,644,881
Top Nonprofits Supported: University of Hawai‘i programs, research and students
uhfoundation.org

Waikiki Health

About: Nonprofit federally qualified health center providing affordable medical and social services
Employees: 197
Company’s Total Cash and In-Kind Donations: $11,000
Top Nonprofits Supported: Boys & Girls Club of Hawaii, Honolulu Pride – Hawai‘i LGBT Legacy Foundation
waikikihealth.org

Wells Fargo Advisors

About: For-profit financial services company
Employees: 41
Company’s Total Cash and In-Kind Donations: $1,505,500
Top Nonprofits Supported: YWCA O‘ahu, Habitat for Humanity, The Queen’s Medical Center, Goodwill Hawaii, Honpa Hongwanji Mission of Hawaii
wellsfargoadvisors.com

Wet‘n’Wild Hawaii

About: For-profit water park and amusement center
Employees: 422
Company’s Total Cash and In-Kind Donations: $284,700
Top Nonprofits Supported: HUGS, United Cerebral Palsy Association of Hawai‘i, Carole Kai Charities and many schools
wetnwildhawaii.com

Windward Auto Group

About: For-profit new and used car and truck sales, parts and service company
Employees: 130
Company’s Total Cash and In-Kind Donations: $36,904
Employee Donations: $2,272
Top Nonprofits Supported: Kapiolani Health Foundation, special needs children’s programs, Habilitat, Laulima Giving Program, Giving Hope Hawaii, American Heart Association
jerryforthepeople.com

Y. Hata & Co.

About: For-profit food service wholesale distribution, wholesale store, public warehousing company
Employees: 460
Company’s Total Cash and In-Kind Donations: $770,279
Top Nonprofits Supported: Aloha Harvest, The Salvation Army, UH Foundation, Hawaii Restaurant Association, UH’s Culinary Institute of the Pacific
yhata.com

Young Brothers

About: For-profit interisland freight transportation company
Employees: 383
Company’s Total Cash and In-Kind Donations: $179,915
Employee Donations: $5,500
Top Nonprofits Supported: Aloha United Way, Relay For Life, Hawai‘i Foodbank, Coast Guard Foundation
youngbrothershawaii.com

To view past versions of our Most Charitable Companies list, click here.

If you’d like to receive surveys for this list and others, please contact cynthiaw@hawaiibusiness.com

Related Storu: When Fire Struck Lahaina, Hawai‘i’s Private Sector Rushed in to Help

This complementary list reports on 2022 profits and losses for 65 of those companies. Most of the data is self-reported, but some is pulled from annual reports.

Click here to jump to the 2023 Most Profitable Companies list >>

Shipping Remains Strong

At the top of the list again is Matson, a pandemic-era powerhouse that deftly expanded its capacity as demand for goods from China surged. Matson opened a second China-to-Long Beach, California, line in 2020 and a new service from China to Oakland, California, in 2021.

The expansion paid off. Matson reported $4.34 billion in gross revenue in 2022 and an unprecedented $1.06 billion in net profit – the largest amount ever reported in our Most Profitable Companies list.

But those outsized numbers are expected to fall in 2023. Rising inflation and interest rates cooled spending last year, and retailers cut back on inventory. Matson discontinued its newest line in the third quarter of 2022 as demand lagged on the China routes – a development that Chairman and CEO Matt Cox predicted a year ago when he told Hawaii Business Magazine that supply and demand would return to normal once the “supercycle” had ended.

By the close of 2022, Matson reported an 11.7% decrease in container volume on its China routes, and a 5.8% decrease in Hawai‘i service. Global container shipping rates also fell throughout the year, ending just slightly above pre-pandemic rates.

Despite the declines, Matson maintained its profit margin of about 24% in both 2022 and 2021. Much of the money was returned to investors, but last year more than half was funneled into a capital construction fund to purchase new fuel-efficient ships. Another $100 million payment went into the fund in February 2023, and the company pledged to add anticipated tax refunds to it as well.

“This remarkable generation of cash has allowed us to pre-fund nearly twothirds of our expected $1 billion in capital investments for the next generation of Matson vessels,” writes Cox in the company’s 2022 annual report.

In November 2022, Matson announced that it had commissioned the building of three new vessels. The cargo ships will operate on cleaner-burning liquified natural gas and will feature fuel-efficient hulls, both of which will help Matson meet its environmental goals of cutting greenhouse gas emissions by 40% by 2030, and reaching net zero by 2050.

In addition to the new vessels, which are expected to be delivered in 2026 and 2027, Matson plans to equip three of its 20 company-owned vessels to run on liquified natural gas. The LNG installations are expected to be completed in the next two years, according to the annual report, with more conversions possible in the future.

Hawaiian Airline Improves

At the bottom of the list for the third year in a row is Hawai‘i’s other global transportation company, and the anchor of its tourism industry, Hawaiian Airlines.

In good news, Hawaiian Airlines reported gross revenue of $2.64 billion in 2022, up 65% from the year before. The results reflect the resurgence of tourism: 9.2 million visitors arrived in the Islands in 2022 – a 36.5% increase from the year before, according to UHERO data.

But Hawaiian also reported a net loss of $240 million in 2022 as it continued its long financial recovery.

One of the pressures last year included higher fuel prices, which were largely triggered by the Russian invasion of Ukraine and the subsequent boycott of Russian crude oil. The average cost per gallon for the carrier’s aircraft fuel was $3.42 in 2022, up from $2.02 in 2021 and $1.52 in 2020, according to Hawaiian Airlines’ 2022 annual report. Fuel as a percentage of operating expenses went from 10.8% in 2020 to 28.7% in 2022.

Other pressure came from fierce competition. Southwest Airlines, which entered the Hawai‘i market in 2019, increased its interisland flights in 2022 and began offering $39 tickets, triggering a fare war with Hawaiian. While cheap tickets are great for passengers, Hawaiian took a financial hit in its effort to stay atop the interisland market.

But perhaps the biggest challenge in 2022 was the lack of visitors from Japan, once “a large percentage of our pre-pandemic international revenue,” according to the airline’s most recent annual report. Even as the Japanese government eased travel restrictions in the fall of 2022, visitors were hampered by a terrible exchange rate, which reached 150 yen to 1 U.S. dollar in October 2022; in January 2021, the rate was 103 to 1.

Hawaiian cut back its service to Japan, and kept some lines suspended. As of August 2023, the yen remained weak against the dollar, but Airline Weekly reported that Hawaiian’s bookings from Japan were finally accelerating.

To strengthen its bottom line, Hawaiian Airlines took a number of steps to improve service and diversify. In October 2022, the company announced it had entered an eight-year contract with Amazon to lease 10 Airbus A330-300 freighters and fly cargo for the retail giant. The service is expected to start this year or next.

The airline hired hundreds of new employees last year as it scaled up to pre-pandemic levels. And looking forward, Hawaiian Airlines has partnered with Par Hawaii to develop sustainable aviation fuel, and is working on all-electric “seagliders” for interisland travel with a Massachusetts company.

Local Banking is Healthy

The FDIC said U.S. banks reported a 5.8% decline in profits in 2022, but were still doing better financially than before the pandemic.

National results align with the data that banks and credit unions reported to Hawaii Business Magazine. All 11 financial institutions on the list enjoyed net profits in 2022, with an average gain of over 26%. Overall, profits in the sector declined by 4.7% in 2022 from the prior year, which was smaller than the national 5.8% decline.

Hawai‘i’s top-ranking financial institution is First Hawaiian Bank, which reported nearly $843 million in gross revenue last year and nearly $266 million in net income – a 31.5% profit margin.

In 2021, the bank reported more than $734 million in gross revenue and also about $266 million in net income – a 36.2% profit margin. In its 2022 annual report, First Hawaiian Bank announced that it finished the year with a record $14.1 billion in loans and leases, $21.7 billion in deposits and $24.6 billion in total assets.

Click here to jump to the 2023 Most Profitable Companies list >>

Many Nonprofits Struggle

Near the bottom of this year’s list are some of Hawai‘i’s largest nonprofits that provide critical services to people in need.

Hawai‘i Foodbank, Catholic Charities Hawai‘i, Child & Family Service and Hale Kipa reported losses last year, the result of operating with far less revenue than during the height of the pandemic, when federal funding and charitable contributions were high.

In 2022, Hawai‘i Foodbank reported $17.7 million less gross revenue than in 2021, Catholic Charities Hawai‘i reported $14.8 million less and Child & Family Service reported $6.6 million less.

Most Profitable Companies 2023

Hawaii Business Magazine won four national awards in June from the Alliance of Area Business Publishers and 21 statewide awards in July from the Hawai‘i chapter of the Society of Professional Journalists. The honors were for work published in 2022. Staff Writer and Engagement Editor Noelle Fujii-Oride won seven awards from SPJ Hawaii, including first place in three categories. She also shared two first-place honors with other Hawaii Business contributors.

Among her honors was the prestigious first-place award for best overall body of work by a single writer. The judge in that category called Noelle “an excellent reporter and writer who does a great job humanizing her business insights.” Her stories, the judge continued, “are a wonderful mix of diving deep into the numbers/statistics/charts of a business topic with insightful interviews, always showing that behind every business (and business story) is a person.”

The Alliance of Area Business Publishers comprises more than 70 regional business publications, including journals in New York City, Los Angeles, Chicago and Dallas. The judges for the AABP contest are faculty members at the University of Missouri School of Journalism.

Managing Editor Cynthia Wessendorf won the alliance’s first-place award for explanatory reporting for her comprehensive report in the May 2022 issue about the challenges faced by Hawai‘i public schools and their students coming out of the pandemic.

Kaimukī High struggles compared to neighboring schools like Kalani High. | Photo: Aaron Yoshino

The judges praised the article for illuminating “both human figures and structural elements in a compelling way.”

Janis Magin Meierdiercks won first place in the beat reporting category for her weekly real estate articles, published at hawaiibusiness.com and in the weekly email newsletter Hawai‘i Real Estate News.

“The stories by this reporter and publication are must-reads for people in the industry … and the average person feels smarter for having read them,” the judges said. They also praised the “great diversity of topics” to keep readers coming back week after week.

Janis and Noelle’s real estate reporting also won first place for trade or industry reporting in the Hawai‘i SPJ competition. “This series of stories about Hawai‘i’s housing market and home buying/selling/building trends stands alone. Great use of data and numbers to tell compelling stories, backed with interviews with both buyers/sellers and real estate professionals. Nice work!” the category judge in that competition said.

Click here to sign up for the weekly real estate newsletter.

Hawaii Business won two national bronze awards for:

Best magazine feature layout for our compelling March 2022 “20 for the Next 20” article designed by Creative Director Kelsey Ige, with pictures by Staff Photographer Aaron Yoshino and freelancers Michelle Mishina, Josiah Patterson and Christian Kahahawai.

“The type treatments and grid system are modern and inventive while providing a wonderful texture and canvas for the beautiful likenesses of the 20 honorees,” the judges said. The same story won second place for best single feature layout in the Hawai‘i SPJ competition.

Best Podcast for “The Hawaii Business Podcast,” hosted by Unyong Nakata of Nakata Advisory.“The podcast exudes warmth with a familiar and conversational approach to Hawai‘i’s business scene that highlights guests’ personalities and feels deeply rooted in the local culture,” the judges said. “The host’s personable approach is based on active listening and leads to deep, multifaceted conversations that track the breadth of guests’ careers.”The other awards for Hawaii Business Magazine came in the statewide competition run by SPJ Hawaii, with entries judged by journalist volunteers in Ohio and Kentucky.

Stories by Noelle swept all three prizes in the Data Journalism category that was open to all local media. First place was for her May report: “Here’s Which Ethnic Groups Make the Most Money in Hawai‘i.” The judge in that category said, “Hawaii Business provides insightful information about its many ethnicities, especially the examination of income trends. Also of high interest are the education and employment numbers.”

Noelle won silver for her November 2022 report, “Comparing Paychecks to Living Costs,” and bronze for her April article, “The Gender Pay Gap Narrowed, Then the Pandemic Arrived.” 

Illustration by Mallory Adams-Nakamura

My two reports last year with Kelsey on the BOSS Survey and the 808 Poll won first and second place in the all media category of information graphics. The first-place winner was published in the August issue and the second-place report appeared in the December issue.

Photo by Getty Images

“Hawaii Business’ BOSS Survey offers what business leaders are thinking, and this one was especially timely with its questions on the Covid-19 pandemic,” the judge in that category said.

HB’s staff collaborated to win first place in another category open to all media, best headlines. “Hawaii Business’ headlines draw in the reader with clear language on the subject matter of the stories, and the subheds/decks provide further explanation about the content,” the judge said.

Unsurprisingly, Hawaii Business did well in both the business reporting category and the trade or industry category open to all magazines. Noelle took first place for business reporting for her October report: “Child Care is a Labor of Love.”

Photos: courtesy of the child care providers featured in this story.

“Hawaii Business delves into the world of child care and offers readers a detailed look into the differences in child care and the complexity of salaries in the industry. The sourcing is extensive and provides both excellent data and real-world comments from those affected by trends and policies in Hawai‘i’s child-care system,” the judge said.

Second place for business reporting went to then-intern, now contributing writer Ryann Coules for her September report on ESOPs, employee-owned companies in Hawai‘i. The same article won second place for best magazine short feature.

Illustration: Getty Images

As noted above, Janis and Noelle combined to win first place in trade reporting on the local residential real estate market.

Noelle’s “Child Care is a Labor of Love” story also took third place in that category. The judge commented: “Really well done series about the child care industry in Hawai‘i and the people who work there despite the relatively low pay. The workers are doing a labor of love, as the headline says, but so is the writer.”

The child care story also won second place for long form feature writing and third place for magazine feature layout.

Freelance contributor Catharine Lo Griffin won third place in magazine profiles for her piece in December about CEO of the Year Paul Yonamine of Central Pacific Bank.

“It can be difficult to get beyond a CEO’s all-business exterior, but you managed to include Yonamine’s life story very well,” the judge said.

Cynthia’s November report about “Wildfires on the ‘Hawaiian Savanna’” won third place for science reporting in all local media. The judge said, “The dangers of wildfires pose a serious threat to people and property. Shining a light on the issue is a great public service.” Kelsey and Aaron won third place in the best magazine cover category for their November cover based on that story.

Photo: Aaron Yoshino

Kelsey collaborated with freelancer Xochitl Cornejo to win second place in the editorial cartoon/illustration category for their December illustration for the story about “Native Birds in Jeopardy.” The judge said, “Love the creativity in this image.”

Illustration: Xochitl Cornejo

Ryann won a third SPJ award: a second-place honor in arts and entertainment writing for her October piece, “UH Stages Award-Winning Plays Completely in ‘Ōlelo Hawai‘i.” 

Scene from the comedy “Ho‘oilina,” which means legacy and inheritance. | Photo: courtesy of Tammy Haili’ōpua Baker

In the section of the SPJ Hawaii competition for students, Hawaii Business intern Victoria Budiono, now an intern with Civil Beat, won first place for student feature reporting in any media for her November piece, “The Honolulu Fish Auction Celebrates its 70th Anniversary.”

Photo: Aaron Yoshino

The 40th annual Top 250 list reflects Hawai‘i’s steady economic recovery in 2022. Unemployment fell to 3.5% from 6% the year before. Real GDP was up 2.5% in 2022, with nearly every major sector seeing gains, according to the UH Economic Research Organization’s dashboard.

The state Department of Business, Economic Development and Tourism pointed to the “declining inflation rate, continued recovery in tourism, catching up of construction activities and continued double-digit growth of tax revenue collection” as key areas of improvement last year.

Among the Top 250 companies, 2022 results were especially strong. Average year-over-year gross revenue was 18% higher than in 2021. All sectors on the list, except technology, reported a jump in average revenue, from a small uptick in the construction industry to a more than doubling of revenue among tourism companies.

Top-line performance, of course, doesn’t reflect the costs and pressures companies may face, and higher revenue can be coupled with negative profits. But in terms of business activity and influence, the Top 250 list gives a broad picture of what’s happening in Hawai‘i’s largest, most prominent companies and nonprofits.

Each spring, Hawaii Business Magazine surveys companies, then ranks them by their reported gross revenue in the previous year. We supplement the surveys with data drawn from public sources, such as annual reports and government databases.

Click here to jump to the Top 250 list of 2023 >>

Year Over Year Revenue Gains by Sector

Top 250 Facts

• 19 employed 1,000 people or more
• 16 were founded in the 1800s
• 32 are located on Neighbor Islands

The signature August issue featuring the Top 250 companies in Hawaiʻi is available for print purchase. Click here!

Energy Soars, with Par Hawaii on Top

Par Hawaii‘s Kapolei refinery has been processing crude oil purchased from around the world into fuel for cars, airplanes and Hawaiian Electric Co.’s energy generation for 51 years and is now the state’s only oil refinery.

Last year, Par Hawaii posted $4.4 billion in gross revenue – a figure that pushed the company into the first place spot on the Top 250 list.

Par Hawaii operates the state’s only oil refinery, located in Kapolei. | Photo: Aaron Yoshino

The 60% rise in revenue over the previous year is a direct result of the global spike in crude oil prices, says President Eric Wright. Price increases were triggered by Russia’s invasion of Ukraine in February 2022.

Wright says the company immediately stopped importing crude oil from Russia – then about a quarter to a third of its supply – in response to the aggression. They shifted sourcing to Alaska, West Africa and South America.

By March 8, the Biden administration had banned imports from Russia. Prices continued rising as global markets scrambled to locate other sources for crude oil, which reached $139 a barrel in March 2022 before cooling significantly.

“Our business is priced o the world market, so as crude moves, our revenue will also move,” Wright says.

The eight other energy companies on the list also reported gains, including Hawaiian Electric up 31% and Island Energy Services up 63%. The smallest energy company in the list, Independent Energy Hawaii, founded in 2020, was up 258% to reach $5.7 million in gross revenue.

Higher crude oil prices in 2022 meant higher prices for processed fuels, which consumers saw at the gas pump, in airline ticket prices and electricity bills.

Click here to jump to the Top 250 list of 2023 >>

A “Lower-Carbon Future”

The search for alternative fuel sources is now moving in new directions, says Wright. In June 2022, Par Hawaii and Hawaiian Airlines announced a joint e ort to begin replacing traditional jet fuel, now 39% of Par’s business, with cleaner renewable fuels.

Par invested $90 million for new refinery equipment to process plant-based oils and waste oils and turn them into renewable diesel and jet fuel. They hope to start commercially producing the fuel in about two years.

“It’s a new era for the refinery,” says Wright. While the initial goal is to produce 60 million gallons of renewable aviation fuel a year, or about 5% of total production, Wright notes that this is a significant achievement.

“There was hardly any sustainable aviation fuel produced last year. Our refinery will be one of the largest sustainable aviation-fuel facilities in the world,” he says.

Par refinery employees check equipment as part of their proactive maintenance. | Photo: Aaron Yoshino

Seed oils and waste oils will be imported at the start, but Par is currently testing biofuel crops that can be grown in Hawai‘i. In partnership with Pono Pacifi c, a natural resources management company, Par is now working with camelina, a promising oilseed crop. “It has nitrogen-fixing properties so it rejuvenates the soil, and it doesn’t compete with food-based crops,” Wright says. “We’re really excited to be part of the (solution) here in Hawai‘i as we transition to a lower-carbon future.”

Tourism Industry Rebounds

For revenue gains, the standout industry on the Top 250 list was tourism. Overall, Hawai‘i GDP data shows accommodation and food services was a $9.7 billion industry in 2022 – 19% higher than the year before.

All 17 companies in the Top 250’s tourism and leisure category reported increases in 2022, with an average gain of 93% in gross revenue. These companies ranged from dinner cruises and submarine attractions to luxury global hotel chains.

Visitors returned in droves last year. The UHERO dashboard shows 9.2 million visitors arrived in the Islands in 2022, a 36.5% increase from the year before. That was close to the 10.38 million who arrived in the peak year of 2019.

Most visitors came from North America. The anticipated return of visitors from Japan stalled, and is only a quarter of what it was before the pandemic, according to a March 2023 report released by UHERO.

“The long-awaited removal of Japanese travel restrictions has finally enabled a modest improvement in Japanese visitor arrivals for the first time since the pandemic began,” says the UHERO report, “but there is still a long way to go in resurrecting this market.”

And U.S. tourists who came in 2022 may be running low on “excess savings” accumulated during the pandemic, leading to challenges ahead, says the report. By April of this year, for instance, fewer visitors were arriving from the West Coast than the year before, according to DBEDT.

While many residents have a “love-hate relationship” with tourism – weary of the crowded beaches but happy for the jobs – the visitor industry remains a leading driver of Hawai‘i’s economy and was a bright spot in 2022.

Click here to jump to the Top 250 list of 2023 >>

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 revenues from contributions, funding for services or proceeds from activities that support their missions. All provide the name of an executive who verifies the self-reported figures.

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

To supplement the survey process, we draw on public records such as annual reports, financial statements, databases of the Federal Deposit Insurance Corp. and National Credit Union Administration, and insurance figures from the state Department of Commerce and Consumer Affairs.

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

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

The signature August issue featuring the Top 250 companies in Hawaiʻi is available for print purchase. Click here!

Top 250 Companies 2023

MEET YOUR AWARD-WINNING SMALL BUSINESSES OF 2023

Photo: Aaron Yoshino

Fujikami Florist Has 104 Years of Experience Expressing Emotions Through Flowers

SmallBiz Editor’s Choice Awards Hall of Fame: Eileen Miura continues a proud family legacy at Hawaiʻi’s oldest florist in Downtown Honolulu.

Photo: Christian Kahahawai

Tip Top Motel, Café & Baker Preserves a No-frills, Family Atmosphere on Kauaʻi

SmallBiz Editor’s Choice Awards Hall of Fame: Fourth-generation owner Jonathan Ota maintains the spirit of the original Līhuʻe breakfast spot started in 1916

Aloha Revolution Turns a Small Online Store into a Major Shirt Brand

2023 SmallBiz Editor’s Choice Award winner: Owner Ed hopes to spread his aloha with unique designs and special fundraiser shirts.

Islander Sake Brewery Produces Traditional Sake with Some Local Flavors

2023 SmallBiz Editor’s Choice Award winner: Chiaki Takahashi and Tama Hirose operate Hawaiʻi’s only licensed sake brewery and a new sushi restaurant.

Island Pet Movers Is Happy to Transport Your Aardvark

2023 SmallBiz Editor’s Choice Award winner: Owner Kair Mendoza’s company moves 5,000 pets a year, and sometimes more exotic creatures.

Photo: Keaton Kamakaiwi

Keaau Filipino Food Store Offers Specialty Products and Freshly Made Desserts

2023 SmallBiz Editor’s Choice Award winner: Maria Tereza Gacula and Mitchell Gacula expand the small-town grocery started by their parents in Puna.

Photo: Aaron Yoshino

Create Design Hawai’i Thrives Making Branded Merch for Local and Mainland Companies

2023 SmallBiz Editor’s Choice Award winner: Owner Tiana Gamble wants to keep breaking down “the barriers of expectations”.

Photo: Aaron Yoshino

Missing Home, the Chefs of Istanbul Hawaii Recreate the flavors of Turkey

2023 SmallBiz Editor’s Choice Award winner: Mother and daughter team Nilgun Yildirim and Ahu Hettema source local ingredients at their Kakaʻako restaurant.

Photo: Aaron Yoshino

Waltz Engineering Finds Its Niche in Industrial Laundry Equipment and Boiler Plants

2023 SmallBiz Editor’s Choice Award winner: Owners Dick and Lorinda Waltz serve Hawaiʻi, Pacific Island and U.S. Navy bases around the world.

Photo: Aaron Yoshino

Wasabi Tours Hawaii Introduces Visitors to the Big Island’s Natural Beauty

2023 SmallBiz Editor’s Choice Award winner: This top-ranked company focuses on small-group tours and low-impact experiences, says co-founder Jay Geng.

Photo: Aaron Yoshino

Hawaii Veterinary Vision Care Treats Cats, Dogs, Tigers and Rhinos

2023 SmallBiz Editor’s Choice Award winner: Dr. Maya Yamagata specializes in eye health and vision for an unusual array of patients.

Photo: courtesy of Kōloa Rum Co.

Inspired by the Past, Koloa Rum Co. Is Innovating for Modern Tatses

2023 SmallBiz Editor’s Choice Award winner: President and CEO Bob Gunter says the premium Kauaʻi-made rum is sold in 32 states and internationally.

Photo: Aaron Yoshino

Guieb Cafe Overcomes Pandemic Odds to Open Three Restaurants on O’ahu

2023 SmallBiz Editor’s Choice Award winner: Founder Ernesto Guieb finds success with favorites like ube mascarpone pancakes and adobo fried rice omelets.

Photo: Aaron Yoshino

Shaka Guide Takes Drivers on Immersive Audio Tours of the Islands

2023 SmallBiz Editor’s Choice Award winner: Co-founder Andrew Fowers says the phone app tours are like “podcasts on steroids”.

MAHALO FOR SUPPORTING THIS YEAR’S BEST OF SMALL BUSINESSES IN HAWAI’I PROGRAM

This year’s Best of Small Business in Hawai‘i feature was made possible in part with the support of Bank of Hawai‘i and Atlas Insurance Agency. The award winners and Hall of Fame inductees were chosen by the Hawaii Business Magazine editorial staff; the profiles were independently written and then edited by the editorial staff.

At Bank of Hawaiʻi, we’ve been big believers in small business since 1897.

For over 125 years, we’ve been committed to helping generations of entrepreneurs realize their dreams of building a successful business in this place we call home. Today, we’re honored to continue our tradition as a sponsor of this year’s Hawaii Business Magazine’s “Best of Small Business Awards.” We know starting and running a small business takes courage, grit and determination—and we salute every owner for their commitment to following it through. They are the economic, employment and innovation engine that powers Hawai‘i and moves us all forward. We’re especially proud to congratulate all of our Bank of Hawai‘i winning clients—and all the winners—for their hard work. To every small business owner across our islands, mahalo for all you do.

– Matt Emerson, Vice Chair, Bank of Hawai‘i

Mahalo to the small businesses who are our community’s innovators, entrepreneurs, and change-makers.

Atlas Insurance Agency was founded in 1929, with a focus on supporting generations of families and small businesses in Hawaii. Being locally owned, at Atlas Insurance Agency, we understand that small businesses are the lifeblood of our community. To further our commitment to the community we call home, we are launching our extensive Small Business Unit this year, specifically catering to the needs of Hawaii’s small business community. This unit offers local specialists who have decades of experience, a free 24/7 client service and training portal, and the full backing of the largest insurance agency in the state. We are honored to be the sponsor of Hawaii Business Magazine’s Best of Small Business awards for 2023 and proudly support the honorees who are the foundation of our economy.

– Chason Ishii, President, Atlas Insurance Agency