The challenges of a startup business are as tough as ever, but with the growing local ecosystem of investors and new-business support systems, the green shoots of entrepreneurship are encouragingly healthy.

And for the Hawaii Entrepreneur Awards, the yield this year is an impressive array of products and services among its finalists and winners.

Two of the finalists, Maui Ku‘ia Estate Chocolate and Reef.ai, illustrate the range, from craft chocolate and Isle-grown cacao to artificial intelligence-driven services that strengthen a client’s revenue potential.

The Islands’ entrepreneurial sector has grown, says Meli James, president of the Hawai‘i Venture Capital Association, sponsor of the awards. James is also co-founder of Mana Up, a Hawai‘i-based accelerator that helps consumer product companies ascend to the next level.

“I would definitely say since I moved home about 11 years ago and joined the organization as president and board member, there’s been a heavy increase in the interest in entrepreneurship,” James says.

Covid indirectly enabled some of that increase, she says, by spurring advances in technology and its uses: Remote sales and conferencing platforms, for example, have freed startups from some of the capital-intensive brick-and-mortar requirements for new businesses. And virtual assistants and other digital tools are relieving businesses of even more of those startup chores.

The global pandemic also forced a pause in economic activity and a disruption in employment, prompting many to strike out in new directions, James says.

“Not only did people have an opportunity to do a little bit of a life shift, whether that was by choice or not … many people had an opportunity to take that hobby or that interest and really start a company,” she adds. “I think that was good for small business and entrepreneurship.”

Chenoa Farnsworth, one of the leaders in the local venture capital sector, is also a founding partner of Blue Startups, on the team with Henk Rogers and Maya Rogers of Tetris fame. She says that because Hawai‘i was seen as a safe place to be, the pandemic brought “an influx of talent and experience that we didn’t necessarily have before.”

“It brings a little more critical mass to the ecosystem,” Farnsworth says. “There are now other people out there working on the same thing: You are not alone.”

However, she adds, the jury is still out on whether this new momentum is a blip or will have long-term effects on Hawai‘i’s entrepreneurial landscape.

Blue Startups focuses on assisting new technology-centered businesses. Its mentorship program works with roughly 10 companies at a time, for 12 weeks in Honolulu and one in San Francisco.

“The reason I’m a big believer in the technology space is it’s one of the few industries that pays enough where we can afford to work here,” Farnsworth says. She points to the Turno platform, which helps to automate interactions between cleaners and vacation-rental hosts, as a success story. Turno leveraged the Isles’ tourism industry on its path to global potential.

Among the company’s newer initiatives, Farnsworth cites its outreach to the Japanese government to bring Japanese companies, and their additional capital, to Hawai‘i.

“We are well connected to Asia and we can leverage that connection,” she says. “Finally, that is beginning to bear fruit.”

The state’s relatively small population makes it hard to get critical mass for a new industry, she adds, but she says she’s encouraged by the innovative thinking of its younger generations.

Sandra Fujiyama is on the front lines witnessing the advent of future entrepreneurs, and she agrees. Fujiyama is executive director of PACE, the Pacific Asian Center for Entrepreneurship at UH Mānoa’s Shidler College of Business, which offers an extracurricular menu of entrepreneurship programs and mentorships for students in all majors.

Fujiyama sees Hawai‘i’s funding ecosystem beginning to flourish. And that ecosystem was recently enhanced by the arrival of Hi-CAP, a state program that funnels federal money to new startups.

Among the startups Fujiyama points to is Pear Suite, a software platform that supports community healthcare services. It started at PACE and has rolled out nationally.

Problem-solving is crucial for entrepreneurs, and it’s being taught to young students now, she says.

“We’re really trying to empower and educate our students on what we call the entrepreneurial mindset,” Fujiyama says. “And if they can go on to build a business utilizing those skills, then wonderful, right?”

–Vicki Viotti

Entrepreneur of the Year

Startup Paradise Champion

Social Impact Entrepreneur of the Year

Deal of the Year

Lifetime Achievement Award

Ag/Clean Tech Entrepreneur of the Year

CPG (Consumer Packaged Goods) Entrepreneur of the Year

People’s Choice Award

Investor of the Year

Intrapreneur of the Year

Tech Entrepreneur of the Year

Student Entrepreneur of the Year

Island Innovator of the Year

Hawaii Entrepreneur Awards 2024: Entrepreneur of the Year

Awarded to the individual or team that has gone above expectations with their company, and is a clear example to other entrepreneurs.

Winner: Alexis Akiona, LexBreezy Hawai‘i

When I first started the company, it was just me and my then-boyfriend, now husband, packing orders from our one bedroom in Kalihi,” says Alexis Akiona about the modern alohawear company she founded in 2016. Today, LexBreezy Hawai‘i has a team of 20 and two stores: one in Kailua and one at Ala Moana Center.

“I’m just a small-town Hilo girl making waves on O‘ahu and I’m honored to be Entrepreneur of the Year,” she says. “As a Native Hawaiian, I’m proud to be the voice for a lot of up-and-coming mana wāhine who are looking to become entrepreneurs.”

Akiona “has transformed her startup into a high-demand local fashion brand, revolutionizing the perception of local Hawaiian wear,” wrote the judges of the Hawaii Entrepreneur Awards. “In addition, she generously opens the door for other designers to join her consortium, fostering synergism and creating a platform for them to thrive.”

In 2023, Akiona expanded the reach of LexBreezy Hawai‘i by attending trade shows in Las Vegas, Japan and New York City. “It’s our chance to go and showcase what alohawear really is, and what it means to us, and the traditions behind it,” says Akiona. “It’s a whole different ballgame.”

She has also launched a streetwear component, “focusing on what alohawear means in the 21st century. I wanted something that inspires the younger generation, and that is streetwear. I began my career in streetwear, so it’s full circle to incorporate it in.”

Akiona says she helped raise more than $100,000 to aid Maui families after the wildfires, via an exclusive release print that benefited Maui, as well as donations from each online purchase. “We worked with Maui Rise and donated directly to the families,” she says. “I wanted to step up.”

She also works with the UH Foundation on the Lexbreezy Scholarship, which supports students enrolled in fashion technology or cosmetology programs. In fall 2023, 10 students received financial assistance.

“I always wanted to work for myself,” says Akiona. “I wanted to create a legacy. I would tell the younger generation, ‘Figure out what you want and go after it.’

” Stay tuned for another store opening in 2024, Akiona says. “We are fueled for that, as well as focusing on taking care of my team and the community and looking for even more ways to give back.”

–Kathryn Drury Wagner

Hawaii Entrepreneur Awards 2024: Startup Paradise Champion

Someone who consistently contributes to the success of Hawai‘i’s innovation community.

Winner: Susan Yamada, Pacific Asian Center for Entrepreneurship (PACE), Shidler College, University of Hawaii

After working for startups in Silicon Valley for 17 years, Susan Yamada moved home to Hawai‘i in 2001. She’s amazed to see how far the Islands’ innovation ecosystem has come in the ensuing two decades.

Yamada is chairman of the board of the Pacific Asian Center for Entrepreneurship at UH’s Shidler College of Business. PACE offers mentorships, training and resources to students across the UH system and encourages the commercialization of ideas bubbling out of UH.

When she first took a position there in 2008, PACE had about three programs. “We didn’t have money, but we had a community that gave generously of their time. When we needed judges, coaches, they were always there. That’s the beautiful part of where we live,” Yamada says.

“Now we offer 20 programs. Monetarily, we have earned the trust and respect of our donors. I wouldn’t say money is falling out of the trees, but donors know if we do something, it will be done right and professionally.”

The judges of the Hawaii Entrepreneur Awards told Hawaii Business Magazine in an email that Yamada’s “leadership at PACE has been instrumental, transforming it into a hub of innovation with RISE and other programs and initiatives that have invested over $10 million in services, awards and scholarships.” It’s that leadership, they wrote, that earned her the title of Startup Paradise Champion.

RISE is a newly opened 374- bed, live-learn-work innovation facility. “The challenge is that the university is so siloed – you have your business students over here and engineers over there,” says Yamada. “Some of the best ideas, but worst business plans, come from four engineers. Getting engineers with our business students, they can work out the business model and then start a phased approach to a company.”

RISE is open to graduate and undergraduate students in all majors.

“It’s not only about startups, but also getting students to think about how to look at a problem, how to figure out solutions, how to talk to each other – skills the 21st-century workforce must possess. Innovation and technology are our future, and we really need to invest in it.”

–Kathryn Drury Wagner

Hawaii Entrepreneur Awards 2024: Social Impact Entrepreneur

An entrepreneur and company that substantially contributes to helping solve some of Hawai‘i’s toughest problems.

Winner: Jeff Gilbreath, Hawai‘i Community Lending

Since 2014, Hawai‘i Community Lending has issued more than $42 million in grants and loans to support affordable housing for more than 4,300 Native Hawaiian and other local families.

“We have a deeper level of knowledge of transactions on Hawaiian Homelands in particular, with team members who reside on Hawaiian Homelands themselves, helping others to get on the land and stay there,” says Jeff Gilbreath, founder and executive director of the community development nonprofit.

HCL’s role is to help families overcome financial barriers to home ownership.

Gilbreath says he is inspired by the hope expressed by people who come through the program, and ultimately, in their successes.

“It’s like seeing individual sovereignty in action – to see families years down the road, their health changing for the better, better family interactions, connections to social networks and brighter opportunities.”

–Cynthia Sweeney

Finalist: Carlo Liquido, Circular Design Internship

An entrepreneur and company that substantially contributes to helping solve some of Hawai‘i’s toughest problems.

Hawai‘i is not yet a business hub for the tech world, but Carlo Liquido is taking a ground-up approach that he hopes will change that.

“Let’s build the talent, and then the companies will come,” he says.

With more applicants than it can currently handle, Circular Design Internship pairs job-seeking software designers with mentors, both locally and on the mainland. Its partners include Amazon and Shopify on the mainland and Blue Startups in Hawai‘i.

Liquido and seven other designers run the all-volunteer operation. Over the last few months, they have supported 19 projects, with 25 interns and 19 volunteer mentors across 18 companies.

“Five years ago, I never would have started this,” Liquido says. “But a silver lining to the pandemic is that there has been a paradigm shift with regard to remote work. Now, we have the ability to live in Hawai‘i and make a San Francisco salary, which was not really possible before.”

–Cynthia Sweeney

Finalist: Julie Morikawa, ClimbHI

This past year, ClimbHI has engaged more than 170,000 students across the state, from kindergarten through college, with 600 businesses.

ClimbHI connects teachers and businesses with events, platforms, and portals, providing job opportunities for students and potential recruits for employers.

Its flexibility enables ClimbHI to respond to the greatest needs of our state’s workforce, says Julie Morikawa, the organization’s founder and president.

“It’s literally a revolutionary educational tool. We’re trying to create economic self-sufficiency for our keiki, to stop exporting our number one resource, our talent and aloha spirit, to other places,” Morikawa says.

In response to the Maui fires, Morikawa says, ClimbHI created an emergency response leadership training program for students. Graduates “emerge as prepared leaders, not just for Hawai‘i’s sake, but for our entire nation and beyond to serve a new model going forward, of how you can come out of tragedies better than when you went into it.”

–Cynthia Sweeney

Hawaii Entrepreneur Awards 2024: Deal of the Year

Recognizes the local company that received the largest financial deal in the past year

Winner: Brenton Grimes and Corey Goff, Reef.ai

Brent Grimes

Net revenue retention measures a company’s ability to retain customers and expand revenue from them. Innovative technology from Reef.ai is able to better leverage the data around that key measure of business success, says Brent Grimes, co-founder and CEO of the Hawai‘i-based company that combines “the best of human and artificial intelligence.”

Reef’s success in attracting investors and its commitment to Hawai‘i are why the judges of the Hawaii Entrepreneur Awards picked it for Deal of the Year.

“Raising $5.1 million from investors in 2023 is remarkable given the tough fundraising environment,” the judges told Hawaii Business Magazine in an email. “Reef has a demonstrated commitment to Hawai‘i: Its founders are based here, a number of its investors are Hawai‘i-based and the company is committed to hiring locally.”

Reef sells mostly to other software technology companies, Grimes says, “and they have a lot of data about how their customers are interacting with their products.” Reef’s artificial intelligence is applied to that data and it provides analysis and guidance, he says.

“Reef can isolate those customers that are showing the most signs of risk early on, so they can intervene,” he says.

“Another example is on the growth. Many companies will introduce new products and want to sell those new products into their existing customer base. But most of them don’t have the tools to know who the best customers are to focus on.”

Grimes says Reef’s clients range from early-stage startups to larger organizations with hundreds of millions of dollars in revenue.

Corey Goff

Reef.ai was founded three years ago by Grimes and Corey Goff, now its chief technology officer. Grimes previously was an executive with San Francisco-based software company MuleSoft. Reef was born in part out of his experience there.

“We were just following our gut instincts initially and doing an OK job,” he says, “but we weren’t always making great decisions about how we allocated our resources.

“So we pulled a bunch of data about our customers and then aggregated the data and did a simple scoring model as a way to really start to prioritize customers more effectively.”

While acknowledging some of the challenges of doing business in Hawai‘i, Grimes says Reef drew investors specifically seeking to invest in the Islands.

“People really believed in the company, but also were very interested in helping a business with ties to Hawai‘i take the next step.”

–Vicki Viotti

Hawaii Entrepreneur Awards 2024: Lifetime Achievement Award

Winner: Nake’u Awai, Nake’u Awai Designs

Nake‘u Awai, 85, is often described as the “Grandfather of Hawai‘i Fashion.” During 50 years in the field, the images on his designs have become iconic: maidenhair fern, kukui, lauhala fans, maile. Every year, buyers come to see what “Uncle” has conceived in the Houghtailing Street shop where he has worked for four decades.

Fashion is nothing without change, and it’s the same with aloha attire, Awai says.

“It’s changed, definitely. The silhouette … the colors. Because there was a time when alohawear was all neon-bright, but now there are subtleties where fashions are coming out in grays and beiges.”

Awai’s creations hang throughout the shop: prints in muted shades on fabric from cotton to seersucker in a range of pastels, and garments with splashes of brighter colors mixed in. Familiarity and novelty are both present.

What ensures all of it remains Hawaiian, he says, is the use of images that are more local than commercial. Awai compares his approach with that of another noted Island designer, Allen Akina, who also returned to Hawai‘i after time away.

“We both came back. He wanted to appeal to Waikīkī and tourists,” he says. “And I wanted to design clothes for local people.”

For his five decades of fashion accomplishments, Awai has earned the Hawaii Entrepreneur Awards’ Lifetime Achievement Award.

“Nake‘u Awai stands as the visionary pioneer who with humble grace was the first Native Hawaiian designer to use native and indigenous floral in prints,” the judges wrote in an email to Hawaii Business Magazine.

“Awai opened the doors of Hawaiian fashion to the masses. For five decades, his unwavering creative spirit and determination have forged a path for succeeding local designers.”

After graduating from Kamehameha Schools and the University of Washington, where he studied theater and dance, Awai became a professional Broadway-style dancer, appearing in touring productions and TV variety shows.

He nurtured his interest in fashion in costume shops, then came home and started his new career: Carol & Mary stores were the launchpad for his first line under the Nake‘u Awai Designs label.

And, while Awai says he doesn’t miss performing, showbiz plays a big role in his fashion shows. Instead of the classic runway walk, he says, he chooses local models who act out characters he assigns them. Search YouTube for “An Occasional Man Nake‘u Awai” to see an example.

“If they playact, they can go through the whole segment without being nervous,” he says.

–Vicki Viotti

Hawaii Entrepreneur Awards 2024: Agriculture/Clean Tech Entrepreneur

An entrepreneur and company whose technology supports a greener future or helps farmers with innovative agricultural practices.

Winner: Gunars Valkirs, Maui Ku‘ia

Gunars Valkirs suspects some of his interest in fruit trees— cacao, specifically — is in his genes. His father was a farmer before World War II altered his path and Valkirs himself “was always growing things.”

Valkirs had been head of R&D for Biosite, a diagnostics firm in California that was sold in 2007.

He and his wife moved to Hawai‘i and invested in what became Maui Ku‘ia Estate, a maker of award-winning craft chocolate. The on-ramp was getting involved in a UH cacao field trial.

“As soon as I realized I didn’t know anything about it, being a scientist I wanted to learn,” he says.

The company is also about giving back: The couple created the Makana Aloha Foundation, which receives 100% of the estate’s net profits, including what is raised through factory tours, to support local nonprofits.

–Vicki Viotti

Finalist: Emma McCaulley, Sweet Land Farm

Even after Emma McCaulley was well into her studies in culinary arts at Leeward Community College, she hadn’t left the farm far behind. Her mother was part of Wahiawā’s Peterson family and worked on the well-known Petersons’ Upland Farm.

McCaulley found her own calling of raising goats while doing a summer job at Surfing Goat Dairy on Maui. She has owned Sweet Land Farm in Waialua since 2010.

“I enjoyed what I was doing rather than being in a kitchen all day,” says McCaulley. “This was what I was supposed to do.”

The farm, 87 acres that she owns in fee, has about 300 goats. Her culinary skills helped develop a product line that includes various cheeses, caramel, gelato, soaps and lotions. The items are sold at the farm’s onsite store and wholesaled to restaurants and hotels.

–Vicki Viotti

Finalist: Yishan Wong, Terraformation

Terraformation’s goals are clear, and they’re as big as the Earth.

“Our mission is to accelerate the reforestation of the world, that is to say, the restoration of native biodiverse forests, because we believe that this is good for people, communities, ecosystems and ultimately as a solution to climate change,” says Yishan Wong, Terraformation’s founder and CEO.

The company is set up as a Delaware C corporation, he says, because that enables raising of private funding more quickly than a nonprofit. Speed is of the essence, he says.

Terraformation partners with companies and organizations worldwide, tapping forestry and science experts to design projects.

These projects span the globe from Ecuador to Tanzania. Hawai‘i-based projects include a Bishop Museum seed bank and Pacific Flight at Kaupalaoa, which aims to restore a native forest ecosystem in North Kohala that was destroyed by logging and grazing.

–Vicki Viotti

Hawaii Entrepreneur Awards 2024: Consumer Packaged Goods Entrepreneur

Presented to the entrepreneur whose CPG company has consistently seen month-over-month growth in revenue and customers.

Winner: Sandra Gibson, Sea Salts of Hawai‘i

Sandra Gibson, who started Sea Salts of Hawai‘i 12 years ago, considers herself part of a team. Altogether, 17 people, most of them Native Hawaiian, work at the harvesting site in Kona and in the production kitchen on O‘ahu.

Gibson says regulation of food products means the salts are processed differently from old ways. Salt water is drawn from deep ocean streams that may have migrated over great distances, and then evaporates naturally, but in a contained environment.

“Everybody who’s on the Kona team grew up in Kona, and there are salt ponds there, and a strong cultural connection. … They’re certainly very knowledgeable when it comes to the salt traditions and the salt culture in Hawai‘i.”

The company produces gourmet salts and supplements such as magnesium, nigari (used to make tofu) and AstaFactor (astaxanthin, an antioxidant).

–Vicki Viotti

Finalist: Ethan West, Piko Provisions

Ethan West got his MBA and started Piko Provisions with an eye on the niche baby-food market. But it was his family’s farming history, in Maine and Rhode Island, that helped drive the decision to source it locally in Hawai‘i.

“A lot of it has to do with honoring the past,” says West. “I come from six generations of family farmers. … Looking back on it now, there’s nothing else that I would rather be a part of.”

West partners with the Hawai‘i ‘Ulu Cooperative and GoFarm Hawai‘i to produce the ‘ulu (breadfruit), Okinawan sweet potato, banana, taro, pineapple, kabocha (a winter squash sometimes called Japanese pumpkin), avocado and kale in Piko’s three puree blends, for infants 6 months and up. More products for younger and older babies are in development.

And a new taste tester is arriving soon: a baby daughter.

–Vicki Viotti

Finalist: Leala Humbert, Ua Body

Leala Humbert’s line of botanical products was born out of her late mother’s similar skin-care business, Island Herbal, and both use plant-based materials and florals. Her mother learned about the field while living in Japan and France and then brought it to Hawai‘i, where she also worked in lei making.

Humbert named her business Ua Body – ua meaning “rain.” Locally sourced components include mango butter, macadamia and kukui oils, and sandalwood.

Glass packaging and the avoidance of plastics are part of the brand.

“When we relaunched in 2020, we had this slogan, ‘Skin care should be simple,’ ” she says. “It encompasses a lot, and touches on sustainability as well. In this day and age, I don’t understand why a company would not try to be as sustainable as possible.”

–Vicki Viotti

Hawaii Entrepreneur Awards 2024: People’s Choice Award

Chosen by our local community via an online poll conducted by Hawaii Business Magazine.

The poll asked voters to pick the startup that they think best represents the interests and goals of Hawai‘i’s Startup Paradise, one that serves as an example for others based on its products, successes, popularity and support of fellow community members.

Winner: Tiara Delgado, Kahiau Poke & Provisions

In 2015, Kahiau Poke & Provisions was a side hustle for Tiara and Hinano Delgado, with customers flocking to their Pearlridge Farmers Market tent for fresh fish and flavorful jerkies.

But Tiara says they felt constrained because they shared a commercial kitchen, so in 2018, they opened their own kitchen on Smith Street in downtown Honolulu. The site wasn’t meant to be a storefront but evolved into one as customers sought their products beyond farmers market hours.

Tragically, Hinano died during the Covid pandemic in 2020. “He always believed in me and some of my crazy ideas,” Tiara says of her other half.

Tiara continues his legacy by honoring the company’s mission and name – in Hawaiian, kahiau means to give generously with the heart. It’s a name her customers understand, too: She says they’ve supported her through some dark moments and many have volunteered to assist with the business, when needed.

“My amazing loyal customers supported me, allowing the business to continue.”

Kahiau Poke & Provisions’ products include poke poi, ‘ahi spreads, chile pepper water and various flavors of fish jerky. On the company’s catering menu are platters of poke and sushi.

–Cathy George

Finalist: Deron and Kit Furukawa, Maui Chili Chili Oil

Maui Chili Chili Oil got its start in 2020 when Deron and Kit Furukawa spent many hours experimenting in their kitchen during the Covid lockdown.

By December 2020, Deron had concocted a recipe for a chili oil flavored with Chinese spices, Szechuan peppers, crunchy garlic bits and onions. And their business was born.

The couple sold their products for a year at local markets, then in 2022 landed a contract to sell at Foodland stores.

Deron’s original recipe is the baseline for three flavors: “Mild Kine Spicy,” “Medium Kine Spicy” and “Spicy Kine Spicy.” A fourth flavor, “Yikes! Kine Spicy” is sold online only

. The early days were marked by trial and error, with “broken bottles in shipping, burnt ingredients while cooking and challenges in sourcing materials,” says Kit. She calls herself the “more aggressive entrepreneur, charging at every opportunity,” while Deron is “more grounded, realistic and calculated in his moves.”

This year they plan to test new markets at the Foodex Japan convention.

They continue to volunteer in Maui relief efforts and donate a portion of sales to wildfire victims. “The community work done in 2023 was so substantial that running Maui Chili Chili Oil in parallel was an achievement on its own,” Kit says.

–Cathy George

Finalist: Ola and Puna Trip, Liquid Life and Hā Tonics

Ola and Puna Trip founded Liquid Life in 2015, a chain of health cafes in Kea‘au, Waimea and Hilo, selling coldpressed juices, salads and sandwiches made with nutritious foods grown in the Islands.

But the couple is now pivoting: In March, Liquid Life will rebrand as “Hā Tonics,” specializing in shelf-stable products, and the rebranded logo is expected to roll out in the Hilo cafe. They also sold the Kea‘au and Waimea cafes to other young entrepreneurs.

The rebranding aligns with the company’s original mission to heal and educate customers about the nutritional wisdom of traditional Hawaiian medical practitioners, known as lā‘au lapa‘au.

The Tripps are passionate about sharing the knowledge of their ancestors. Ola’s paternal great-grandmother, Anita Pua, was a traditional healer. Puna’s maternal great-grandmother was a curandera, a traditional Latin American healer. “My mother juiced for me since I was a toddler,” she says.

Puna usually leads the kitchen, and Ola manages the office but occasionally, they swap roles to do “whatever that needs to be done.” In addition to the Hilo cafe, their products are sold at Kilauea General Store, Auberge Mauna Lani, Kohala Grown Market, Island Greens, Plant Based Foods and Umekes.

–Cathy George

Finalist: Adrienne-Joy and Jeremy Jataas, UBAE

Adrienne-Joy and Jeremy Jataas sold desserts made from the purple yam called ube out of their van until one day in 2015 when they went all-in, she says.

Today, they own and operate the dessert company UBAE, which stands for Ube Before Anything Else.

Crinkle cookies and mini cheesecakes are the fastest-selling items at UBAE’s store in the City Square Shopping Center in Kalihi. The products are also sold in grocery, convenience and drug stores; the Navy Exchange; and at KTA stores on Hawai‘i Island. UBAE items also have appeared at pop-up events in Japan.

Sales, production, packaging and distribution are handled by the couple and their 13 employees. UBAE recently acquired a production space in the same neighborhood as the Kalihi store, and Adrienne-Joy says further expansion plans could be announced this year. Cookies and cheesecakes aside, the company also crafts their ube takes on leche flan, sponge cake, chiffon cake, rolls with coconut cream, and softserve dairy-free ice cream.

What fuels the couple’s success and growth is their partnership. “Jeremy is more hands-on, while I’m more in the background and in the books,” Adrienne-Joy says. Their motto from day one: “No risk, no reward!”

–Cathy George

Finalist: Kamalani Dung, Keenan Shigematsu and Micah Yoshino, Hawaii Candy Factory (Noms)

Kamalani Dung

Hawaii Candy Factory’s business concept is sweet, sour and surprisingly simple.

The company says it purchases candies in bulk, coats them in li hing mui powder at a commercial kitchen and warehouse in Kapolei, then sells the hand-mixed sweets under the brand Noms.

What helps sales is Noms’ packaging. It stands out in candy aisles thanks to the bright hue and colorful caricatures created by the company’s in-house designer, Fred Zaha.

Keenan Shigematsu

The company says it launched Noms in March 2021 during the Covid pandemic with a straightforward mission: to “create snacks and holiday products that people of Hawai‘i can look forward to.”

In addition to school and team fundraisers, Noms are sold from a shopping mall kiosk, at convenience stores and drugstores, and retailers focused on the visitor market.

To expedite manufacturing, Hawaii Candy Factory’s executive team created an

Micah Yoshino

inventory management and ordering system customized to their needs; the system uses low-code, web-based platforms and databases.

Hawaii Candy Factory’s sales grew nearly 150% from 2022 to 2023, according to the company. This year, chocolate-based products are scheduled to launch.

–Cathy George

Hawaii Entrepreneur Awards 2024: Investor of the Year

Individual or entity that has invested substantially in the Hawai‘i startup ecosystem.

Winner: Donavan Kealoha, Startup Capital Ventures x SBI Fund

Paying it forward comes naturally to Donavan Kealoha.

“You get a little, you give a lot. That’s how it is in Hawai‘i,” says Kealoha. He is a managing director at Startup Capital Ventures x SBI Fund, an early-stage venture capital firm based in Menlo Park, California, and Honolulu, and an entrepreneur himself. Kealoha’s first interaction with the firm came about 15 years ago, when it supported a startup he co-founded.

Kealoha joined Startup Capital Ventures in 2014, and more recently began working with its third and latest fund, a joint venture with Japanese financial services SBI. He splits his time between Hawai‘i and the Bay Area.

“I try to leverage the network I have,” he says, “to bring insights and learning, and help people develop business plans or fundraising pitches.”

Because the firm focuses on early-stage investments, he says, “You’re really looking at the person, at their expertise and passion, and if we align in values. Have they identified a unique problem and a unique solution to it? Are they going to be able to get early employees to join their mission? They’ve got to have that – what do the kids say? – the rizz.”

Successful investments include WhiteHat Security, a Maui-launched tech company that was later acquired for a nine-figure sum, and Shifted Energy, a Honolulu startup focused on energy solutions.

Kealoha is also a co-founder of the Purple Mai‘a Foundation, a business accelerator program created to uplift Native Hawaiian entrepreneurs. “That was in response to being a Native Hawaiian and wanting to see Hawaiians in particular in this space; I wanted to help diversify the system,” he says.

Hawaii Entrepreneur Awards judges told Hawaii Business Magazine that they picked Kealoha and his firm for Investor of the Year because of their track record. “For over two decades, Startup Capital Ventures has been a driving force in Hawai‘i’s entrepreneurship ecosystem, and the new SCV x SBI Fund reflects the continued commitment to support innovation here,” the judges wrote in an email.

“In addition, Donavan’s remarkable contributions extend to the community through the Purple Mai‘a Foundation, which is dedicated to empowering high-opportunity youth in underserved Hawai‘i communities.”

–Kathryn Drury Wagner

Hawaii Entrepreneur Awards 2024: Intrapreneur of the Year

Honors someone who works in a large organization but advocates for innovation and entrepreneurial thinking.

Winner: Micah Kāne, Hawai‘i Community Foundation

First covid, then the Maui wildfires. The Hawai‘i Community Foundation is navigating the most challenging era in its history. “And we’re still in the middle of this,” says Micah Kāne, CEO and president of HCF. “This is an extremely complex disaster. It’s deep, long, emotionally charged, politically charged.”

More than 250,000 donors from around the world have given to the Maui Strong Fund, propelling HCF into a global spotlight. “We’re a different organization than we were,” says Kāne. “A lot of evolution had to happen in a short amount of time.”

He’s proud of the people on his IT team, who worked 24/7 to fix crashing systems; of the management team that conducted 1 a.m. Zoom interviews with press in different time zones; of the overall organization’s “willingness to grind, at a time when it’s really hard.”

HCF’s values align internally and with those of its community partners, he says. That synergy doesn’t develop overnight, he notes, and it’s served the organization well in these times of extreme pressure.

Even before the fires, Kāne “demonstrated innovative thinking and positive impact in the community through his leadership at HCF,” wrote the judges of the Hawaii Entrepreneur Awards, who chose him as Intrapreneur of the Year, an annual award that goes to a person with an entrepreneurial mindset who operates within a larger organization. “Expanding stakeholder partnerships and incorporating the CHANGE initiative, he expanded the scope of HCF to have a broader impact.”

Past models for philanthropy, Kāne says, aren’t working. “If someone is hungry, you want to feed them; if someone needs shelter, you want to house them. But if the pipeline is growing faster than philanthropy can support, you have to work upstream … to deal with the real issues.”

For example, HCF has joined the Maui Interim Housing Plan, a collective of government and nonprofit groups aiming to create a pool of 3,000 stable housing units on Maui. “That was a huge milestone for us,” says Kāne. “The way that disaster programs are structured is rapid response and somewhat uncoordinated. You almost have to hit pause and get everyone around the table to figure out what resources you have and what you’re good at or not good at.

“The opportunity going forward for Hawai‘i is incredible, to use this as a way to rethink affordability and how we treat the environment. We can revisit how we manage and engage communities in developing the future vision for a place – rethinking people and place, and how they both can thrive.”

–Kathryn Drury Wagner

Hawaii Entrepreneur Awards 2024: Tech Entrepreneur of the Year

Honoring the entrepreneur who has created technology and innovation to make our lives better.

Winner: Ricky Uy, Komodo

Ricky Uy believes people are at their best when they play.

He is the co-founder of Komodo, a company based in Honolulu and Tokyo that creates and publishes video games and creative software products.

“We try to be a company of consequence. We create products that have elements of play with the goal to empower, educate and entertain people,” says Uy.

This April, Komodo will roll out Niuhi (the Hawaiian word for tiger sharks and other man-eating sharks), a program designed to inspire people to learn another language by sharing their favorite manga comics. Players can connect, form a community and translate the stories.

Uy says many people begin to learn a language, but it’s hard to stay motivated to achieve fluency.

“Fluency in a language is where there are major life rewards. Breaking down language barriers is a big key because otherwise you end up with siloed communities that don’t really get to engage with one another.”

–Cynthia Sweeney

Finalist: Amber Imai-Hong, Luke Clements, Christopher Amendola and Frances Zhu, Mahina Aerospace

HokuSat, a small satellite built and sold by Mahina Aerospace, is ready for space flight, and might put Hawai‘i on the map in the small satellite industry, says Amber Imai-Hong.

“I really hope we can build this high-tech industry in Hawai‘i to offset the tourist industry and provide a little more economic stability to the state,” says Imai-Hong, who is CEO of Mahina Aerospace, a spinoff of the Hawai‘i Space Lab at UH Mānoa.

Mahina’s four-person team developed software and hardware for HokuSat at UH Mānoa. Manufacturing takes place primarily in the U.S., and assembly occurs in Honolulu.

Uses for the CubeSats include science research, educational projects and commercial ventures.

Since January 2023, Mahina has delivered more than a dozen satellite chips to universities across the U.S., which are used as course materials to help build aerospace programs.

–Cynthia Sweeney

Finalist: Mina Singson-Brightman, Sebastian Borys and Kim Andreello, 40Hammocks

Mina Singson-Brightman

As the owner of two destination event planning companies, Mina Singson-Brightman knows the challenges that large groups face in finding accommodations in Hawai‘i.

“They can spend hours online researching accommodations and activities,” she says. “I realized there should be an app to make the booking experience easier.”

Sebastian Borys

Singson-Brightman and her two partners built 40Hammocks, a free platform for groups to book premium hotel accommodations.

“These groups want an overall experience they can remember, so we focus on four- and five-star hotels,” she says.

The app also lets group members track their hotel bookings, and communicate with other members, such as with announcements.

Kim Andreello

Since launching the platform in August, 40Hammocks says it has put together contracts with hotels on O‘ahu totaling nearly $100,000.

This year, 40Hammocks plans to expand to Las Vegas; Aspen, Colorado; and Austin, Texas; as well as popular destinations in California including Los Angeles, Palm Springs and Napa Valley.

–Cynthia Sweeney

Hawaii Entrepreneur Awards 2024: Student Entrepreneur of the Year

Honoring a younger member of the innovative community who has a passion for learning and the tenacious spirit of an entrepreneur.

Winner: Amelia Stucker and Adam Sullivan, Zingipop Sodaworks

In a beverage market saturated with beer and hard drinks, Zingipop Sodaworks aims to fill a niche with nonalcoholic soda.

Zingipop’s co-owners, current UH student Amelia Stucker and past UH student Adam Sullivan, make and package the sodas in a warehouse in Kalihi and sell them to boutique hotels, coworking spaces and small restaurants on O‘ahu. They recently purchased two new tanks that allow them to double their capacity to 600 gallons and produce four flavors of soda, including fan favorite Ginger Lilikoi.

Stucker says Zingipop is 100% locally sourced; each can’s label features local farms that provide ingredients. “We want to let our customers know where their food is grown,” she says.

Stucker has a bachelor’s degree in mechanical engineering and a certificate in entrepreneurship from Kapi‘olani Community College, and she’s on track to earn an associate degree in accounting from KCC.

–Cathy George

Finalist: Dani Pasion, Illicitlover

Dani Pasion’s fascination with “cute, dainty car products” led her to launch Illicitlover, an e-commerce store (illicitloverjp.com) that sells air fresheners for vehicles.

She says the company’s name stems from her personal experiences. “I’ve always felt that I had so much love to give and would get overwhelmed by these feelings. … I first started this small business as a way to cope with these feelings during a tough time in one of my past relationships … I focused this energy into art and this business.”

She designs each version of the air fresheners and sends the art to an off-island manufacturer. The whimsical designs reflect Pasion’s childhood, much of which she spent at car shows, surrounded by customized classic vehicles. One design, Turbo the Duck, consistently sells out, she says.

Pasion is on track to graduate this summer with a marketing and entrepreneurship degree from UH Mānoa.

–Cathy George

Finalist: Tahiya Kahaulelio, Kahaulelio Candle Co.

Kahaulelio Candle Co. specializes in candles infused with the scents of mango, coconut, papaya, hibiscus and other local favorites.

Tahiya Kahaulelio says she was inspired to launch the company in 2020 by her love of the Islands and the rich heritage passed to her by her Nigerian mother and Native Hawaiian father.

All of her candles are handmade with coconut beeswax, she says. Coconut wax is costlier than the soy wax typically used in candle-making but has “the cleanest burn of any candle wax available and plays a significant role in decreasing my company’s carbon footprint,” Kahaulelio says.

Kahaulelio is enrolled in the environmental and interior design program at Chaminade University of Honolulu and is scheduled to graduate in 2026. She says that running a business since high school has been demanding but worthwhile. “It taught me self-discipline, among many things.”

–Cathy George

Hawaii Entrepreneur Awards 2024: Island Innovator of the Year

Celebrating innovations that help Hawaiʻi solve a major problem in the community, the ocean or the ʻāina.

Winner: Claire Sullivan and Rob Barreca, Farm Link Hawaiʻi

How can you make healthy, locally grown food affordable and accessible while still ensuring that producers make a living? Achieving both objectives isn’t easy, but it’s how Farm Link Hawai‘i thrives.

It is a local online grocery that provides customers on O‘ahu with next-day delivery. But ultimately, its mission is to make Hawai‘i healthier by supporting diversified agriculture.

Rob Barreca

Rob Barreca, the company’s founder and chief technology officer, launched Farm Link Hawai’i in 2015. Most food production businesses in Hawai‘i are very small, he says, so he sought to use technology to spur innovation and collaboration with the local food system. “The other angle we have leaned into more heavily now is realizing the disparity of access for food. Fresh local food can’t be for the restaurants only, or fancy people only.”

Claire Sullivan

Claire Sullivan, CEO at Farm Link Hawai‘i, says diversified agriculture benefits Hawai‘i in multiple ways, including: lessening economic dependency on tourism; reducing factors that lead to climate change; and improving human health, especially among vulnerable populations.

“Under Claire and Rob’s leadership, Farm Link is providing Hawai’i producers with a supportive market and ensuring that everyone on O‘ahu has access to the same great food, no matter where they live,” the Hawaii Entrepreneur Awards judges wrote to Hawaii Business Magazine.

For example, Farm Link Hawai‘i accepts SNAP, and beneficiaries of the program automatically get 50% off local produce and poi via the Da Bux program, and free delivery. Beginning this year, the company will be able to process SNAP transactions online, rather than having customers physically swipe their cards when food is delivered.

And in March 2024, deliveries will increase to seven days a week.

“We are also expanding selection, so we can truly replace a trip to the grocery store,” Sullivan says. “Because we do 100% foods that are locally grown, raised or fished in Hawai‘i, we have to woo producers into the marketplace, or get them to add products, and also support aspiring folks. We think of this as supply building rather than passive supply taking – to build that availability together, in both volume and selection. Our growth is intertwined with that of the grower community.”

How will they know they’ve achieved success? “When you are eating 90% local food and not even thinking about it,” says Barreca.

–Kathryn Drury Wagner

preX, a scaling accelerator for local businesses, passed a significant threshold this year: The number of companies that have graduated from its program is now in triple digits.

The free monthlong course – which is offered two to three times a year and is 100% virtual – was created in 2020 by XLR8HI, which calls itself Hawai‘i’s Entrepreneur Center.

Tarik Sultan, co-founder of XLR8HI and managing partner of Sultan Ventures, says preX was originally created to help companies and entrepreneurs who struggled during the pandemic.

“We saw a massive, underserved need in the community,” Sultan says.

He says the program helps small business owners who want to get to “X” but don’t know how. That includes how to start or change a business, how to secure funding and how to expand operations.

Since 2020, 111 companies have gone through preX. These companies have created or retained over 400 jobs, generated a total of more than $110 million in revenue since they entered the program and raised nearly $50 million in funding, according to Sultan.

“We’re proud of these impact numbers, and it’s a true testament to the preX companies’ focus on creating products and services that are needed and used in Hawai‘i, rather than simply chasing the next funding round.”

The companies that have gone through preX’s program come from multiple sectors, including businesses that provide high-tech software, consumer-packaged goods and even artificial intelligence platforms. About 30% to 40% come from the Neighbor Islands; the rest are based on O‘ahu.

“Guiding Light” for Entrepreneurs

Nova Signings, a mobile notary service in Honolulu, was part of this summer’s cohort. Since launching in 2021, Nova Signings has served over 170 customers and leveraged over 5,500 real estate closings, according to co-founder Olivia Esquivia.

Nova enrolled in preX to help as it pivots to additional services, she says. The company remains a mobile notary service but also is developing an e-closing software platform so it can offer remote notary services plus e-signature and e-recording capabilities.

preX is “like a master class on business and how you can learn the process of your business,” including how to craft a pitch to investors and how to sell your business model, Esquivia says.

“It’s a guiding light because sometimes as an entrepreneur you’re already wearing multiple hats and you’re in the weeds of your business. And sometimes you can’t see the bigger picture.”

Work it Out Kaua‘i, an online and in-store retailer that offers activewear, swimwear and everyday casual wear, was in preX’s first cohort in 2020.

Work it Out Kaua‘i joined preX’s first cohort in 2020, which helped the retailer expand relationships with other companies. | Photo: courtesy of Work it Out Kaua’i

Co-owner Jeni Kaohelaulii started Work it Out Kaua‘i in 2008, and during the pandemic, she and her sister Jasmine wanted to learn how to grow their business. At that time, Work it Out Kaua‘i was “successful in the sense that we’ve had the business for over 10 years,” Kaohelaulii says. But that success came with a price, and day-to-day operations left her “pretty burned out.”

The preX program helped spark “a whole other side of the business” because now, Work it Out Kaua‘i has extended relationships with other companies and entrepreneurs like Sultan and his brother Omar, who serve as consultants for the retailer.

“The preX family is very open to you even after you graduate,” says Kaohelaulii. “You still have a lot of opportunity to ask questions and whatnot.”

Pandemic Pivot

During the pandemic, Aline Steiner decided to pivot from her 15-year career as a private chef, but she still wanted to cook. By entering the consumer-packaged goods industry and co-founding Koko Kai Yogurt, she could do just that.

The chef in her, she says, still wanted to “nurture people” and feed them something healthy. With that in mind, she created a probiotic-rich coconut yogurt that’s plant-based and dairy-free.

She describes her time in a 2021 preX cohort as intense and worthwhile. “(It) gave me an insight into how to grow a business … and how to scale smartly.” And, she says, it taught her how to recognize the signs of a viable business.

Steiner started by selling her yogurt at farmers markets; now it’s sold in Hawai‘i in stores such as Foodland, Whole Foods Market, Safeway and Down to Earth, plus some stores in California.

Tarik Sultan says preX is different from other accelerators and programs in Hawai‘i because it is “tailored to the specific needs” of companies.

“We took a different path by intentionally catering to the vast majority of Hawai‘i’s economy – the small businesses and startups that make up 95% of the market – as well as the traditional high-growth companies.”

Over a quarter of the companies that have gone through the preX program are led by Native Hawaiian founders, two-thirds by female founders, and 84% of the companies are spearheaded by people from traditionally underserved and underrepresented communities, he says.

The accelerator has had six cohorts so far and plans to announce its next one in the fall.

“preX is a transformative experience for entrepreneurs and company owners, allowing them to turn their innovative ideas into impactful businesses that drive positive change and make a lasting difference in Hawai‘i’s community,” says Sultan.

She says she has bought and then sold countless items, including rare clothes like a Chanel tracksuit, accessories, plates and tables. “I found Tiffany & Co. coasters that I paid $15 for and I sold them for $250.”

Her company, Upscale Cheapskate, is always sourcing items to buy and resell. She says she prefers used things, as new ones are often harder to sell and don’t make as much profit. She also personally likes to reuse items, rather than throwing them away and polluting the earth.

She has been buying and reselling for a long time and launched Upscale Cheapskate during the Covid-19 pandemic.

“I noticed a lot of resellers were having a hard time sourcing, and I don’t have a problem sourcing. So I found this app called Flip, and I connect with other resellers and send them some of my finds and we split the profit,” says Fulkerson.

“I pass the savings on. I don’t ever try to ‘nickel-and-dime’ people. I put reasonable prices on things.”

While the label “cheapskate” can have negative connotations, she embraces it.

“It’s the opposite of upscale and people remember it. I’m also a frugal person, but it’s mostly to stand out. You want them to come back, and they’ll remember your story,” she says

“I’m always trying to save money. I think everybody is.”

Fulkerson uses the handle Upscale Cheapskate on Flip and is hicheapskate on eBay.

“We love being able to highlight our community’s emerging entrepreneurs along with their unique and innovative products,” says Mana Up co-founder Meli James. “Our Islands are teeming with talent – and this shows a great example of the new and incredible things Hawai‘i’s makers and artisans are creating.”

To enter the contest, go to this page and fill in your information. Those who fill in all the optional selections will receive an additional 50 entries.

The giveaway closes on Friday, May 19, at noon Hawai‘i time.

Mana Up takes the owners in each cohort through a six-month accelerator program that helps them learn how to grow their consumer product companies and scale globally while solving business challenges.

The entrepreneurs meet in person each week at Mana Up’s Honolulu headquarters with James and co-founder Brittany Heyd, and get to network with executives in the local business community.

All entrepreneurs face huge challenges, but women often face extra obstacles, such as increased difficulty accessing funding, not being taken seriously and greater struggles balancing business and family life.

I collaborated with the Patsy T. Mink Center for Business & Leadership and Central Pacific Bank on a survey of local female entrepreneurs to better understand their needs, problems and goals. The Anthology Marketing Group interviewed 245 women who are owners or principals of local small businesses that are majority female-owned.

To address those needs and challenges, Hawaii Business Magazine held the first annual Women Entrepreneurs Conference on May 10 at the Prince Waikiki. Central Pacific Bank is the presenting sponsor.

Sessions and workshops will provide information on access to capital, revenue growth opportunities, financial management, networking, plus inspiring advice and stories from successful women business owners.

Learn more about the WE Conference at wec.hawaiibusiness.com.

Key results of the survey of female business owners are published in this report, along with my recent interview with two CPB leaders, Chair Catherine Ngo and Susan Utsugi, senior VP and manager of the Business Banking Division. Here are highlights from that interview.

Petranik: Do you think female entrepreneurs face additional challenges from those faced by male entrepreneurs?

Ngo: I do think women face different challenges than men and part of it relates to what I think of as legacy and historical biases, whether that be the thinking that women may prioritize motherhood over their businesses, or the impression that men have the boldness and drive to be successful entrepreneurs. I will say it’s good to see more and more successful women-owned businesses year over year. I do think those biases are eroding.

Utsugi: All entrepreneurs face similar challenges, however, women entrepreneurs face additional unique challenges. Studies show they received less funding than their male counterparts. False stereotypes about women put them at a disadvantage. And they may delay going for capital, or go for less capital than they actually need, which limits their growth.

On the other side, studies show that when women entrepreneurs are capitalized, startups they found or co-found are better financial investments. They’re good custodians of the funds they receive and generate higher annual revenue. They’re a good investment.

Petranik: Is the Women Entrepreneurs Conference designed to help women business owners deal with those challenges?

Utsugi: Yes. The conference will offer information on accessing different types and sources of capital. Attendees will hear from successful women entrepreneurs and how they overcame their challenges. We offer sessions on imposter syndrome and overcoming fear, on branding and marketing, on crafting the perfect pitch, plus the conference will be a place for women to connect with other successful entrepreneurs, hear their stories, and be inspired and energized.

Ngo: We want to replicate the experience of the women who go through the WE by Rising Tide program. (A 10-week program for female business owners run by the Mink Center and funded by the CPB Foundation. Learn more or apply at risingtidehawaii.com.) In the graduation ceremony for our first cohort of 20 women, the graduates said it was a rigorous program, but they said things like, “I feel empowered,” “I feel armed with knowledge,” “I have greater confidence in myself and in the future of my business,” and “I’m more excited about driving this company to success.”

That was an aha moment for Susan and myself. That’s when we started talking about opening this kind of program to a much larger group in a one-day conference. And it was wonderful to see others jump in to support this conference.

Petranik: Confidence is a huge issue for all businesspeople because confidence means they’re willing to invest further time, energy and money to open a new location, hire further employees and add products and services.

Ngo: More confidence often means the owner will ask for more capital. Women sometimes underestimate the future prospects of their business, while men might do just the opposite.

Utsugi: In the WE by Rising Tide program, four out of the 10 sessions focused on financial management. That helps women business owners understand their financial statements and cash flow, how to use them to make decisions going forward. With knowledge is empowerment, so they feel more confident taking on risks, such as debt.

Petranik: What information and inspiration do you hope attendees will gain from the WE Conference?

Utsugi: We want them to get a good understanding of access to capital, what forms of capital are out there, so we’re bringing in folks who cover the spectrum, from crowdfunding to women-funded venture capital, all the way to traditional conventional financing.

We’re also having an expo with small-business resources all in one place – such as organizations that provide free or low-cost services. We’ll have folks who can help them write their business plan, help with hiring and retaining employees, obtaining capital.

We want the conference to be a one-stop shop for women entrepreneurs. And we’ll conclude with a pau hana that’s going to be an opportunity to network. We found in our WE by Rising Tide program that networking was key for women entrepreneurs, one of the things they found very beneficial and that it resulted in more business.

We had one cohort member who was already doing business with big box retailers like Costco and Sam’s Club, and she helped another cohort member get her products showcased in Costco.

Ngo: There’s so many other stories like that where the power of networking resulted in a strategic partnership, customers or even funders for the business.

Petranik: Why does Central Pacific Bank provide this support for women-owned businesses?

Ngo: We were founded about 70 years ago by veterans who came home from World War II and saw the banking needs of immigrant families were not being met. We were founded to help underserved segments of the community and that’s a legacy we continue to honor today, and that includes local women-owned businesses.

Utsugi: I think no local bank does more to support small businesses than Central Pacific Bank. We created unique programs to help small-business customers like the Keep Hawaii Cooking program during the pandemic and we continue to help restaurants in Hawai‘i.

We developed the WE by Rising Tide program. We’ve graduated two cohorts and continue to have events where alumni strengthen their network. The last one was on positive thinking.

CPB received the most awards and recognitions of any local bank from the U.S. Small Business Administration’s Hawai‘i District Office including Lender of the Year Category 2 for 2022. We’ve received this award 13 times since 2007. And in the latest fiscal year, CPB financed more SBA loans than all of the other local banks combined. We’re very proud of that.

Ngo: We’re really happy to partner with Hawaii Business Magazine to be the presenting sponsor of the Women Entrepreneurs Conference. We hope this will be an annual conference and really encourage women to participate in events of this kind.

Small businesses in general are such a great engine to Hawai‘i’s economy. Women entrepreneurs are a vital part of that.

Petranik: And these locally owned small businesses mean the revenue and profits stay here in Hawai‘i and that’s not always the case with big mainland companies.

Survivability

Female entrepreneurs were asked in the survey: How confident are you that your company will survive and still be operating five years from now? Their answers show that the larger the business, the greater the likelihood of confidence.

What Are Your Obstacles to Getting Outside Funding?

Survey respondents were asked if they had any issues or problems obtaining outside funding; 45% said they did have a problem. Here are the top problems they cited; some respondents cited more than one.

How Did You Get Your Startup Funds?

The women were asked how they raised the original capital to start their companies. Some listed more than one way.

Next, they were asked if they knew how to ask for or obtain outside funding and capital. Here are how many said yes.

How Much Funding Do You Want and How Would You Use It?

The female business owners were asked how much extra capital they would like to have available, if possible. Two outlier responses of $5 million and $15 million were excluded from the calculations.

From the 157 respondents who said they would like additional capital, here are the top things they said they would use the money for. Some cited more than one purpose.

Are You Risk-Averse? Do You Suffer From Imposter Syndrome?

The female business owners were asked for their thoughts on the perception by some people that women are more risk-averse than men.

Do you agree that women are more risk-averse than men?

Each respondent was presented with this statement: Imposter syndrome can be defined as a collection of feelings of inadequacy that persist despite evident success. “Imposters” suffer from chronic self-doubt and a sense of intellectual fraudulence that override any feelings of success or external proof of their competence.

The respondents were then asked two questions.

Unique Issues That Female Business Owners Say They Face

Survey respondents were asked to identify any unique problems or difficulties that female entrepreneurs encounter. They were not given preset responses; here are their top responses.

Female business owners whose operations are solely on the Neighbor Islands are significantly more likely to feel they are not taken seriously or are disrespected than women whose businesses operate only on O‘ahu – 39% vs. 17%.

What Is the Impact of Your Family on Your Business?

Female business owners were asked to choose which of these three options best mirror their personal situations and views.

Based on their responses, female business owners with mentors are more likely to view their family situations as assets than those with no mentors.

Mentoring also correlated significantly with whether the owner’s company had increased gross revenue or sales over the past year. Here are the percentages of respondents who said they have a mentor.

Why Did You Become a Business Owner?

The female business owners were not given preset responses to the question: Why did you become a business owner? Here are the top responses; some cited more than one reason.

How Do You Define Success?

The female business owners were presented with six ways to define business success and asked to select the one they felt best mirrors their views.

What’s Your Biggest Challenge?

The owners were asked to identify the top issue or problem currently facing their businesses. No preset responses were given. Here are their top responses.

Methodology and Who Was Surveyed

The research was conducted by the Anthology Marketing Group on behalf of the Patsy T. Mink Center for Business & Leadership, with cooperation and assistance from Hawaii Business Magazine and Central Pacific Bank. The survey used an online methodology.

The respondents were owners or principals of female-owned businesses, defined as having at least 51% ownership by one or more women.

A total of 245 interviews were conducted from Nov. 11, 2022, to Jan. 18, 2023. A sample of this size has a margin of error of plus or minus 6.26 percentage points with a 95% level of confidence.

Breakdown of the business owners surveyed

Jeth Parbo began raising chickens eight years ago to help feed her family and neighbors. Her farm, Mama Jeth’s Farmstead, now houses about 175 chickens on a quarter-acre lot in Waimea, and they produce about 45 to 60 dozen eggs a week.

Baby chicks at Mama Jeth’s Farmstead in Waimea will grow into egg producers for Mālama Kaua‘i and other local vendors. | Photo: courtesy of Mālama Kaua‘i

She’s one of 17 egg producers who participated in Mālama Kaua‘i’s Poultry Egg Education Project, or PEEP, which began in 2022 and provided Kaua‘i farmers with startup equipment, supplies, education and peer support.

“When they had a program open up, I wanted to join and help out, do whatever I can on my part to help feed the island,” Parbo says, adding that her peers taught her about best practices for feeding schedules and chicken health.

Created in 2006, Mālama Kaua‘i’s mission is to increase local food production and access. Its staff of 10, along with hundreds of volunteers, distribute food through an online food hub, keiki and kūpuna programs, and food pantries. In 2022, Mālama Kaua‘i distributed $500,000 worth of food from 130 food producers, 60% of which were minority-owned businesses. Most of those producers were based on Kaua‘i; a handful were from other islands.

The nonprofit also collects produce harvested from the community and donates it to community partners. And it helps farmers build capacity through internships, grants, grant writing and management services, and educational programs.

Photo: courtesy of Mālama Kaua‘i

Now in its second year, PEEP helped increase the number of Kaua‘i egg producers from four to 27, says Megan Fox, executive director of Mālama Kaua‘i. The nonprofit plans to use the program’s third year to support graduates who want to scale further.

“Because obviously, the more production everyone’s doing, the more food that’s available for the community, and these are the people that were the most excited on the island about taking it seriously and bringing it to that level,” she says.

PEEP farmers provide the eggs that Mālama Kaua‘i sells through KauaiLocalFood.com. Anni Caporuscio, PEEP program manager, says the online food hub is selling about 150 dozen eggs a week at prices competitive with mainland eggs, whose prices have sharply increased over the past year.

Higher prices for mainland food means “local food is starting to become pretty competitive and in some cases is less expensive than imported food,” Fox says. “And it just tastes better.”

KauaiLocalFood.com became an essential facilitator for farmers and customers when farmers markets closed early in the pandemic. It currently serves over 1,200 residential and commercial customers across the island. Customers can pick up their groceries or pay $5 for delivery. Fox says the food hub has helped the nonprofit reach more low-income residents; about half of its residential customers use Supplemental Nutrition Assistance Program benefits.

Photo: courtesy of Mālama Kaua‘i

Mālama Kaua‘i is planning to scale its food aggregation and distribution efforts with a new food hub it’s building in Moloa‘a in partnership with the Moloa‘a Irrigation Cooperative, a hui of 70 farms on more than 600 acres. The two-story Moloa‘a ‘Āina Center will have a commercial kitchen, cold storage, processing equipment and a marketing office. Fox says this will take some burden off producers so they can focus on growing food.

“Having to run all over the island to sell $50 worth of stuff , it’s not worth your gas,” she says. “But if (Mālama Kaua‘i is) already going to do that run in the vans and whatnot, it makes a lot of sense for us to aggregate.”

The new facility is scheduled to be complete this summer.

The nonprofit wants to keep expanding access to healthy local food. One of its newest grant programs helps farmers like Parbo address shortages of broccoli, watercress, carrots, liliko‘i and other crops, and to sell to food pantries and other food access channels.

Mālama Kaua‘i’s 2022 food insecurity survey found that one in three participating Kaua‘i households were unsure if they would have enough to eat each week, and two in three households had to decide monthly between paying bills or buying food. The survey was based on responses from 177 Kaua‘i residents who represented 472 food-insecure individuals.

Fox says Mālama Kaua‘i has accomplished a lot in the 10 years she’s been with the organization, but says she is especially passionate about how it has helped people. Its vendors saw an average 5.9% increase in sales from 2021 to 2022. One of its farmers even reached six figures in sales last year.

“It’s really cool to see all those big numbers when you do good work, but it’s cooler when you see that one person and how your work impacts that one person and their business and their family and their kids and, at the same time, you get to see smiles every week of all the people that love their food,” she says. “We’re just pretty lucky we get to do what we do.”

Maui native Ethan Kaleiopu and his family are in the real estate and tourism industries, and often fly back and forth between the Valley Isle and O‘ahu for work.

And once on O‘ahu, they need a car. Kaleiopu says traditional rental car services aren’t always an option when he has to book last-minute flights. To avoid any uncertainty and stress, he says he turns to Turo, a car-sharing service. It can be more convenient, he says, and “you can be really selective with what type of vehicle you want.”

He doesn’t worry about shortages because there are plenty of vehicles available and “you can book a car fairly quickly,” including just hours before landing on O‘ahu. And he enjoys that most of the money he pays to Turo goes to the car’s owner.

Kaleiopu and his family are not only Turo renters; since the pandemic, they’ve been “hosts,” too. He started by renting out his mother’s car when both she and her husband were laid off. Now the extended family has 10 cars for rent on Maui.

Turo and Getaround are two peer-to-peer car-sharing services that operate in Hawai‘i for tourists and locals alike.

Turo has been around nationally since 2009, but “was still really scarce” in Hawai‘i until Covid arrived, says Kaleiopu. “Not many people were doing it.”

The service gained popularity here with the pandemic-fueled rental car shortage. The Hawai‘i Tourism Authority reported the Islands’ fleet of rental cars had dropped by over 40% from 2019 to 2021.

Albert Mangahas, Turo’s chief data officer, says “Turo has stepped up to kind of save the day” with its list of available cars in the Islands.

How It Works

Peer-to-peer car-sharing services allow vehicle owners to rent their cars to people for short terms.

People can scan turo.com for available vehicles in their preferred areas or at specific locations like an airport, and rent specific vehicles at daily prices set by vehicle owners. They can also filter results based on specific criteria like car type, price and features.

Guests can also request vehicle drop-offs and pickups at specific locations.

Car owners, known on Turo as hosts, set their own rental rates, which can be lower or higher than those offered by rental car companies.

For example, a recent open-ended search on the Turo website for the Daniel K. Inouye International Airport showed 200 vehicles available in Honolulu with a price range from $44 per day for a 2020 Toyota Corolla to $214 per day for a 2020 Tesla Model X. At the same time, rental company Enterprise showed a Toyota Corolla for rent at $129.98 per day.

Turo also offers car insurance and protection plans for both hosts and renters. According to the platform, every host plan comes with $750,000 in third-party liability insurance for when the cars are being rented.

The platform has five levels of plans for hosts, which can earn 60%-90% of the trip price, depending on which plan they choose, though hosts typically collect 75%.

If a guest damages a car they rent, Turo says, the guest’s own car insurance may cover it. If not, guests should buy a Turo protection plan. The Insurance Information Institute, which has 60 insurance companies as members, says car insurance policies differ on whether they cover peer-to-peer rentals, so check your policy or call your insurance agent.

Makes Owning a Car More Affordable

Kaleiopu says being a Turo host helps him and his family cut the costs of car ownership. For example, when his parents were laid off during the pandemic, Turo helped cover the payments on his mother’s car, along with maintenance costs.

Now Kaleiopu and his family have 10 cars listed on Turo, which they use as personal cars when they’re not rented. He has the vehicles separated into different Turo accounts – one each for himself, his parents and aunty – and each account can earn from a few hundred dollars a month to $1,500.

Illustration: Getty Images, Amy Lowe

The average cost of owning a vehicle in Hawai‘i is $8,100 a year, or $675 monthly, according to a study by the Ulupono Initiative. The study also found that 80% of households in the state own two or more cars.

Turo’s Mangahas says cars sit idle 95% of the time, and “Turo’s hosting platform transforms these underutilized assets into earnings engines and puts money back into our hosts’ pockets.”

Extra Source Of Income

Looking for an alternative source of income, Maui resident Karissa and Jon Baker became Turo hosts in 2021. She says her husband worked in the hospitality industry as a valet and that the pandemic “was hard” on her family.

They started with two cars on the platform, and now host or co-host 75, for themselves, family and friends. Their car-sharing service is called “Chosen Rentals,” and does all reservations through Turo.

Illustration: Getty Images, Amy Lowe

“Hawai‘i is expensive, so this has been a great way to supplement our family’s income,” she says.

Hawai‘i Island resident Tarek Antaki has been using Turo as a host and renter for more than two years, and says income from the service represents 40% to 50% of his total income.

He was one of 13 people who responded to Hawaii Business’ outreach on social media to find Turo hosts and renters.

“Turo allows me to support my family of four,” he wrote.

A typical Turo host can earn $115 per four-day transaction, which is enough to cover on average a monthʻs insurance and registration costs, according to a 2022 study commissioned by Turo. If a car is shared for two weeks in a month, the entire monthly cost of the vehicle, including the typical car payment, can be covered.

Illegal To Park At Airports

The Hawai‘i Department of Transportation says it’s illegal to park Turo-rented cars at any state airport.

Source: Turo

Turo officials say they have been working with state officials to establish a permitting system but for now recommend that hosts arrange for pickups and drop-offs outside of airport property. Nonetheless, some hosts pick up guests at state airports and take them to nearby parking lots to turn over the keys and vehicles.

On Kaua‘i, a shuttle runs between Līhu‘e Airport and a dedicated parking area at Kukui Grove Center for Turo drop-offs and pickups.

Last year, some state lawmakers unsuccessfully tried to pass a law that would ban peer-to-peer car rental programs, citing concerns they can lead to overtourism and are not regulated.

Mix of Locals And Tourists

When Kaleiopu and his family started as Turo hosts, they noticed only younger tourists were renting their cars. But in the last two years, he says more locals and Neighbor Island residents have been using the service.

Recently, a couple of Kaua‘i residents traveled to Maui to get married and booked one of Kaleiopu’s best vehicles. Kaleiopu says they put together something nice for them like a goodie basket and lei to help “set the tone” of the trip.

“It was nice because it’s locals helping other locals, and kind of setting that experience,” he says.

Turo host Baker agrees and says a lot of local Turo hosts “go the extra mile to make a guest’s experience special and unique.”

“It’s a great economic opportunity for a lot of the hosts in the Hawai‘i area in terms of really kind of supporting this concept and exciting idea – this regenerative tourism,” says Turo’s Mangahas. “The great thing about this is it’s not only enabling tourists to come, but it’s the earnings that are coming directly into local Turo hosts here in the Hawai‘i Islands.”

Source: Ulupono Initiative | Illustration: Getty Images, Amy Lowe

They are a diverse combination of innovative startups and multigenerational companies that have found “new life and new products” – and they’re “thinking differently about their brand and the future of their business,” says Meli James, president of the Hawaii Venture Capital Association, which sponsors the awards.

There are also more companies from Indigenous populations that “have traditionally been underserved,” says James.

What’s driving these changes is increased support for local entrepreneurs, including more capital and funding, and a “huge influx” of potential entrepreneurs into Hawai‘i because of all the job shifts and layoffs nationwide during the last three years, James says.

Brittany Heyd, who founded Mana Up with James, says the pandemic forced many local companies to think outside of tourism for revenue. “We have a more diversified revenue stream and a bigger market opportunity” because companies have increased their focus on e-commerce and other resources, says Heyd.

Kylie Matsuda-Lum and Judah Lum, who run Kahuku Farms, are among the finalists for Agriculture/Clean Tech Entrepreneur of the Year. They reflect the innovation that’s happening in every sector of the local economy.

“My hope is to continue to bring a greater awareness of farming, and the food that we eat every day, to our Island residents and visitors as well,” Matsuda-Lum says. “Because we need to bring people back to the land to educate them, so that we can sustain farming and agriculture for generations to come.”

Entrepreneur of the Year

Social Impact Entrepreneur of the Year

Tech Entrepreneur of the Year

CPG (Consumer Packaged Goods) Entrepreneur of the Year

Deal of the Year

Investor of the Year

Island Innovator of the Year

Corporate Intrapreneur of the Year

Startup Paradise Champions

Ag/Clean Tech Entrepreneur of the Year

Student Entrepreneur of the Year

People’s Choice Award

Winner: Emily Jaime, Yireh

In 2014, while still in college, Emily Jaime became the founder and designer of her own fashion business, Yireh.

“It means ‘to provide’ in Hebrew,” Jaime explains. “I wanted a name that reminded me that humanity is more important than profit. I took a year off before college and took a worldwide trip and saw so many poor working conditions, people slaving away while others made money off them.”

Yireh clothing is designed in Honolulu and produced in Bali at a WRAP-certified ethical factory. WRAP certification ensures workers have safe conditions, fair wages and benefits like overtime, paid breaks and health care.

Jaime says the company’s three pillars are ethically made products, sustainable manufacturing and a low-waste model that uses nearly every scrap of fabric.

In 2022, Jaime says Yireh grew its business by 40% over the previous year.

She is committed to positive marketing, showing women of many colors and shapes, and has expanded sizing to be more inclusive. “It’s always been instilled in me to want fairness and to see justice and to not profit off someone else’s downfall.”

Finalist: Alexis Akiona, Lexbreezy Hawai‘i

Alexis Akiona, founder and designer of Lexbreezy Hawai‘i, is a second-generation fashion entrepreneur. She’s the daughter of Lola Miller of Simply Sisters, an alohawear company, and grew up in Hilo.

“We’d go to the Merrie Monarch and the Made in Hawai‘i festivals and I’d work her booth and be her model,” says Akiona.

She launched her own brand, Lexbreezy Hawai‘i, in 2016. “I had one style – a T-shirt dress – and it sold out in 10 minutes. That was my aha! moment.”

“We work with a lot of local artists and keep the prints modern and fresh,” says Akiona. “We don’t reprint any of our designs. Once it’s sold out, it’s sold out. I want to inspire the younger generation to want to wear alohawear daily.”

In 2020, Akiona opened her boutique in Kailua, and now carries women’s and men’s clothing, swimwear, home décor and a keiki line that’s also sold at Nordstrom.

And she’s started a Lexbreezy scholarship at Honolulu Community College to inspire the next generation. “I want them to know, ‘You really can do it.’ ”

Finalist: Chloe Blake, Kauai Sweet Shoppe 

Offering rich, irresistible caramels in flavors like guava and li hing mui, Kauai Sweet Shoppe has hit, well, the sweet spot. Chloe Blake co-founded and co-owns the shop with her mother-in-law, Nani Marston, and husband, Kalei Marston.

It opened in 2012. At first, they made and wrapped hundreds of caramels by hand, but after five years they acquired a circa 1920s machine that reduced the wrapping time from 2 hours to 25 minutes. Today, Kauai Sweet Shoppe caramels are carried at 25 locations statewide, including at Foodland, and “everything on our shelves is made by us,” says Blake, who runs day-to-day operations.

With the pandemic came opportunity: A bigger space at Kilohana Plantation allowed them to combine their commercial kitchen with their retail operation in 2021. “People can watch the caramels being made and the apples being dipped,” says Blake.

This year, they plan to collaborate with Kaua‘i-based Aloha Ginger Beer for a gingery caramel. And a new confection is puffing up on the horizon: homemade marshmallows. “I enjoy giving people a new perspective on treats,” says Blake.

Finalist: Alana Penaroza, Kainoa and AJ White, Tag Aloha

In July, Tag Aloha celebrates its 10th anniversary.

The name originally came about as a reference to hashtags, to encourage people to share the aloha, says Kainoa Penaroza. “We wanted to embody aloha ‘āina with a product that was made from fair trade sustainable cotton and could reduce plastics in the environment.”

He’s a co-founder along with his wife Alana, and their artist friend, AJ White, of the company that got its start working with Whole Foods Market, creating buzzworthy totes that were snapped up by visitors and locals alike.

Today Tag Aloha products – Island-inspired bags, pareos, throw pillows and more – are sold at 70 stores in Hawai‘i as well as at its own boutique in Kailua.

“We’re also launching a new line for keiki, which we have never done before,” says Alana Penaroza. It’s a true family operation, with AJ’s wife, Manjari, also joining in. The brand often partners with local talents like artist Lauren Roth and musician Kimié Miner, and donates a portion of sales to support the Surfrider Foundation and AccesSurf.

Finalist: Melia Foster, Meli Wraps

As a mom of two boys, Melia Foster has made a lot of school lunches over the years, and the plastic bags she used to put the food into were a concern. “I was always rinsing out plastic bags and thinking about a solution.”

In 2015, she and a friend experimented with waxed cloths to cover food and gave them as holiday gifts; they were such a hit, Meli Wraps was born.

“Wax wraps are nothing new,” says Foster, the company’s owner/president. “The Egyptians used waxed cloth to preserve food.”

Based on the North Shore of Kaua‘i, Meli Wraps has seven employees and produces its food wraps using honey from Hawai‘i Island and organic cotton, in colorful prints designed by local artists. The company has grown from selling at farmers markets to being in national chains and working with Foodland and Hawaiian Airlines.

Foster reports Meli Wraps has expanded into custom printing for events like weddings and corporate functions and that the company contributes to Sustainable Coastlines and the Surfrider Foundation. “Our goal is to inspire people to use reusable products and reduce what goes into the landfills,” she says.

Winner: Coen Cadinha, Big Boy Sweets

When he was 13, Coen Cadinha decided selling li hing lemon peel gummy bears at school wasn’t challenging enough. So he became the first in his family to start a business: Big Boy Sweets, a pop-up candy and snack shop.

Despite pushback from adults who thought he was too young, he says, his products were an instant hit.

“I went to (my first) market and I sold out the first day,” Cadinha says. “Then I did the next week and the week after.”

Cadinha, now 15 and attending high school online, has extended his product line from li hing lemon peel gummies, strawberry belts and Skittles to Chex Mix, ube cereal treats and drink pouches.

After enrolling in Hawai‘i Rising, an e-commerce program for Native Hawaiian entrepreneurs, Big Boy Sweets opened an online store via Shopify.

His plans include expanding his in-person sales, operating a vending machine and getting his products into more mom-and-pop shops.

“But eventually, I’d have my own store.”

Finalist: Lexi Nelson and Preston Holt, It’s Paradise

Has a specific smell ever transported you to a distinct memory? Lexi Nelson and Preston Holt strive to do that with candle scents like “Lanikai Beach” and “Road to Hana.”

The 2022 UH Mānoa graduates launched It’s Paradise, a candle business that uses fragrances to trigger memories of iconic Hawai‘i locations, with the help of the 2022 UH Venture Competition and the Summer Startup Launchpad.

“We spent several weeks in Waikīkī surveying hundreds of people,” and testing different scents and designs on them, Holt says. “Ultimately that gave us enough data to match certain scents to certain places.”

It’s Paradise says it uses coconut soy wax and 100% natural fragrances to appeal to even the most sensitive noses.

This year, the couple hopes to expand its scents to include mainland destinations and focus more on the company’s social impact.

“We also are really passionate about giving back to the communities,” Nelson says.

Finalist: Alexandria Buchanan, Sharai Swim

Alexandria Buchanan always dreamed of running her own business – “creating something that was all on my own,” she says.

So Buchanan saved the gift money she received from her McKinley High graduation and from working part-time, and poured everything into the birth of Sharai Swimwear, an eco-friendly line launched on Oct. 30, 2021.

“I decided to start with bikinis. And I wanted Sharai to really focus on all bikini lovers rather than a certain look that social media and other brands try to push,” says Buchanan, now a junior at UH Mānoa.

Body positivity is the beating heart of Sharai Swimwear’s marketing. A message on its website reads, “I created Sharai to empower others to feel comfortable and confident in their own bodies.”

Sharai also emphasizes sustainability. “I’m really glad that our bikinis are all made of Carvico Vita, which is a recycled nylon” made with ocean plastic and discarded fishing nets, she says.