Hawaii Business Magazine July 2025

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49 TOP PERFORMERS IN REAL ESTATE

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U NDE RIN SU R ANCE KE E PS MANY CONDOS IN CRI S I S P. 36

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Lahaina Rebuilds: Homes, Businesses, Lives Two years after the wildfire, much is still in ruins, but the community’s spirit remains unbroken

BE A GREEN WARRIOR: COMPOST FOOD SCRAPS P. 45

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Representing experience.

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Representing You.

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PHOTO COURTESY: MINDY JAFFE MAGOON WORMERY

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FEATURES

WORMS ARE A GARDEN’S BEST FRIEND. ADD THEM TO LEFTOVER FOOD IN A COMPOSTING BIN AND YOU GET VERMICAST, AN ORGANIC NUTRIENT FOR SOIL AND PLANTS.

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Lahaina Is Coming Back, But It’s a Long Road to Recovery This in-depth, photo-rich story spotlights residents working to rebuild their homes and businesses, and resurrect the historic town destroyed by wildfires.

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An Insider’s Perspective on Living at UH Mānoa’s RISE RISE is more than a dorm; it’s an entrepreneurial incubator. Most students say they love living there, despite the hefty price tag.

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Rising Insurance Costs Are Squeezing O‘ahu’s Condo Owners Hawai‘i’s aging buildings and old plumbing contribute to recent insurance hikes. With condo fees now averaging $1,000 a month, buyers are balking.

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An Antiquated Classification System Still Dictates Land Use It’s preventing Hawai‘i from adapting to modern agricultural and land development needs. Yet critical reform efforts keep failing in the Legislature.

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Don’t Throw Away Leftover Food.

Compost It! Your everythingcomposting guide for reducing household waste and making fertilizer for the garden. Just add worms to speed up the process.

PHOTO COURTESY: INPEACE

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CONTENTS

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An Essential Nonprofit Seeks New Funding Sources INPEACE is determined to keep its many programs alive, including keiki education, parenting guidance and financial workshops.

Generational Differences in the Workplace: Chaos or Superpower?

Employees can be five decades apart in age. That’s a lot of skills and perspectives that can help companies thrive.

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He Once Installed 40,000 Feet of Wire at the Kaiser Estate Andy Kinghan’s jobs range from setting up million-dollar home theaters to remote security systems and automatic window shades.

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A Place for Vintage Clothing and Streetwear in Honolulu Most of Harbors Vintage stock is from people dropping off their clothes from the aughts or earlier so others can “get a kick out of wearing it.”

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ON THE COVER: LAHAINA IS EXPERIENCING A SURGE OF REBUILDING, IN PART BECAUSE OF RELAXED PERMITTING RULES FOR THE AREA MAUKA OF FRONT STREET. THE COVER SHOWS CONSTRUCTION OF A KAHOMA VILLAGE TOWNHOUSE, NEAR BABY BEACH, THAT BURNED ON AUG. 8, 2023.

PHOTO BY JEFF SANNER

SPECIAL ADVERTISI NG SECTIONS Industry Update Assessing opportunities and challenges.

31 Top Performers in Real Estate 2025 Profiles of great agents on four Hawaiian Islands.

49 2025 Kukulu Hale Awards Recognizing excellence in Hawai‘i’s commercial real estate industry.

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HB EVENTS C O N N E C T W I T H H AWA I I B U S I N E S S M AGA Z I N E L O C A L LY OW N E D , L O C A L LY C O M M I T T E D SINCE 1955.

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

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DEVELOP YOUR SKILLS, BUILD YOUR NETWORK FRIDAY, JULY 25 Hilton Hawaiian Village The 12th annual Leadership Conference is dedicated to the advancement of Hawai‘i’s emerging leaders.

SEPTEMBER 24 Organizations chosen as finalists for Hawai‘i Excellence in Business Awards are recognized at this evening celebration, where we announce the winners for 2025.

OCTOBER 24

NOVEMBER 22

Wahine Forum

Money Matters Financial Conference

Hilton Hawaiian Village

A full day conference where attendees will choose from one of five “tracks” to gain knowledge and tools to navigate the complex world of personal finance.

Punahou School

For more information on events, visit hawaiibusiness.com/events or contact Madelene Martinbianco, Events Manager, at madelenem@hawaiibusiness.com 10 | J U LY 2 0 2 5

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Design & Photography Creative Director JEFF SANNER jeffs@hawaiibusiness.com Staff Photographer AARON YOSHINO Digital Digital Director RANDALL LIBRAMONTE randalll@hawaiibusiness.com • (808) 534-7531 Digital Growth Marketer MARIANNE LEANO mariannel@hawaiibusiness.com Sales & Marketing Account Executive YONGCHAE SONG yongchaes@hawaiibusiness.com • (808) 228-5078 Account Executive CHAZ TIOGANGCO chazt@hawaiibusiness.com • (808) 387-1672 Senior Account Coordinator REBECCA BROOKING rebeccab@hawaiibusiness.com • (808) 534-7560 Events Manager MADELENE MARTINBIANCO madelenem@hawaiibusiness.com • (808) 534-7578 Events Coordinator OLIVIA DE SENA oliviad@hawaiibusiness.com Circulation circulation@pacificbasin.net Connect with us on social media: HawaiiBusiness HawaiiBusinessmagazine Hawaii Business is published by

UPCOMING EVENTS: Wahine Forum is the largest professional development conference for women in Hawai‘i. The conference is attended by top female executives, entrepreneurs, and up-and-coming leaders intent on advancing their careers.

Editorial Editor-in-Chief JENNIFER ABLAN jennifera@hawaiibusiness.com Managing Editor CYNTHIA WESSENDORF cynthiaw@hawaiibusiness.com • (808) 224-7943 Senior Editor STEVE PETRANIK Staff Writer RYANN NOELANI COULES ryannc@hawaiibusiness.com Staff Writer SHELBY MATTOS shelbym@hawaiibusiness.com Copy Editor ELROY GARCIA Editorial Interns: SAVONNA ANDREWS,

Chairman DUANE KURISU Chief Executive Officer SUSAN EICHOR Chief Operating Officer BRANDON KURISU Director of Finance JADE CARREL

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Businesses Evolve With Zoomers, Boomers and Everyone in Between

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HEN I WALK INTO MY OFFICE IN DOWNTOWN HONOLULU, I OFTEN MARVEL AT WHAT’S GOING ON INSIDE – four gen-

erations of people working side by side, sharing ideas and challenges, collaborating on projects and even exchanging a few laughs. From the wisdom of longtime journalists and publishers to the fresh energy of newish hires, this mix isn’t just about different ages, it’s about how diverse experiences create a stronger, more vibrant workplace.

That theme of diversity creating stronger organizations came up repeatedly during the listening tour I embarked on in my first month as the new editor-in-chief of Hawaii Business.

Our magazine’s annual Best Places to Work list celebrates companies that harness the power of multigenerational teams and promote work-life balance through benefits like extended parental leave and access to mental wellness programs. These organizations set the standard for Hawai‘i’s evolving workplace culture. (P.S. Registration for our Best Places to Work 2026 is open through Oct. 17, 2025; register at bestplacestoworkhawaii.com.)

Today’s workforce can span as many as five generations: Traditionalists (born 1925-45), Baby Boomers (1946-64), Generation X (1965-80), Millennials (1981-2000) and Generation Z (2001-2020). Together, those generations provide a wide range of perspectives, skills and values under one roof – and the best workplaces harness that diversity to their advantage.

For Hawaii Business Magazine, our diversity helps us to effectively cover Hawai‘i’s most pressing business stories, including the ripple effects of global trade policies on Island businesses, how insurers and their customers are adapting to climate change, and the threat and consequences of wildfires.

We’re committed to storytelling that’s compelling, that delivers sharp insights, thoughtful analysis supported by data and practical solutions. All of that is key in today’s fast-changing business world, where thriving isn’t optional – it’s essential.

NEW WAY OF HONORING GREAT COMPANIES

The annual Best Places to Work list is compiled based on extensive confidential surveys of employees and an analysis of company benefits and practices. Employees’ responses count for 80% of the final score; a company’s benefits and practices are worth 20%. Our inaugural Excellence in Business Awards takes a different approach to identifying Hawai‘i’s top organizations.

We’ve invited nominations from local companies whose results and practices exemplify business excellence. Organizations typically distinguished in this

program show measurable financial progress; high employee engagement and retention; visible community contributions; and clear, ongoing commitments to diversity, equity and inclusion.

As I step into the role of editor-in-chief following the remarkable legacy of Steve Petranik, one of my first priorities is to reimagine how we connect with our community. That means launching in-person meetand-greets with our readers, introducing a new Hawaii Business Magazine LinkedIn newsletter, and offering audio versions of select stories on Instagram at @hawaiibusinessmagazine.

These are just the first steps in a broader effort to make our journalism more accessible, engaging and reflective of Hawai‘i’s dynamic business landscape. You can read more about my return to the Islands in the profile in the June print issue titled “For Jennifer Ablan, Coming Home Was a Full Circle Move.” The online version is at tinyurl.com/Ablanhome.

TALKING WITH VISIONARY LEADERS

As part of our expanded coverage, we will spotlight visionary CEOs and CFOs from Hawai‘i’s major financial institutions and other homegrown businesses – leaders who are not only driving economic growth but also shaping the future of our Islands.

Additionally, we will explore the dynamic gig and creator economy, where entrepreneurs across diverse industries are brimming with innovative ideas and solutions. Our commitment also includes in-depth reporting on key sectors, such as our recent comprehensive feature on the macadamia nut industry. You can read the updated story at hawaiibusiness.com/not-grown-in-hawaii.

Your voice matters. If there are stories you believe deserve more attention – on our pages or online at hawaiibusiness.com – I’d love to hear about them. My listening tour is just beginning. Email me at jennifera@hawaiibusiness.com.

JENNIFER ABLAN EDITOR-IN-CHIEF

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M Y

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NAME: ANDY KINGHAN JOB: SYSTEM INTEGRATOR AND HOME AUTOMATION SPECIALIST COMPANY: HAWAII AUDIO VIDEO LIGHTING SOLUTIONS

My Job Is Bringing Homes to Life Through Technology ANDY KINGHAN IS THE GO-TO GUY WHEN YOU WANT A “SMART HOME” that

takes advantage of the latest technology in audio, video, networking, security, lighting and even automatic window shades. His jobs have included setting up giant theaters for multi-million-dollar mansions, live sound reinforcement for auditoriums, and smaller projects

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like lighting and remote security for individual homes and stores.

“I’ve never wanted for work,” he says. The calls can come from a former client upgrading that same home that Kinghan worked on decades ago or a new client who got his name through the grapevine.

BIG PROJECTS: He moved to Hawai‘i in 2013 for a job at the

former Kaiser Estate in Hawai‘i Kai. He and a crew spent several months pulling 40,000 feet of wire from giant thousand-foot spools to various locations on the estate and installing equipment.

“Wiring for lighting, audio, video, network connections – everything,” he says, plus computer coding for the system.

That project had included a $200,000 aquarium behind the bar, but the owner instead settled on four large TV monitors stacked two by two that could show either four video feeds or a single big one.

Soon after, Kinghan set up a million-dollar home theatre on Hawai‘i Loa Ridge that included high-end Steinway speakers and amps as well as individual controls for the seats.

He worked on a live sound reinforcement system for shows at the Four Seasons Resort O‘ahu at Ko Olina and in a past life helped do live sound for a vast range of performances – from San Francisco 49ers football games to Luciano Pavarotti and Herman’s Hermits.

BEGINNINGS: Kinghan grew up in California and Nevada. When he was 5, his father gave him a Phantom Rolls Royce radio. “I immediately wanted to open it up, and I broke it,” he says.

His love of playing guitar and other instruments helped him make friends and become an audio expert. But playing in a garage band wasn’t a long-term career, so he joined the Navy, got an electronics degree and became a sonar tech. He says he solved his final exam problem in seconds – so fast that some exam supervisors thought he cheated.

Kinghan’s first job after the Navy was with International Game Technologies out of Reno. A new technology back then was video gambling machines – video keno, video poker and video slots. “They’d call me to come in and validate a machine. That it hasn’t been tampered with,” he says.

The “first coolest thing” he ever did was installing a powerful pan-andtilt camera on a cabin’s giant dome in Tahoe. From Dallas, the cabin owner could “show the boys in Dallas where he lived and just see what was going

PHOTOS COURTESY: ANDY KINGHAN

on” all the way across Lake Tahoe.

The house also had electronic door locks that could be opened or closed remotely if a contractor needed entry.

LEARNING THE TRADE: He honed many of his skills while working on estates and pricey condos in the San Francisco Bay area for VIA International Systems, a high-end concierge AV company where he filled just about every role at one time or another: programmer, techie, engineer, project manager and salesman.

But sales was not his first choice.

Kinghan told his boss: “I prefer to bring things to life. I like getting my hands dirty, rolling up my sleeves.”

THE ISLANDS CALL: He had let VIA International know he was interested in moving to Hawai‘i, and the call came when he was leaving the St. Regis hotel in San Francisco after working on former Vice President Al Gore’s penthouse condo. The company needed an expert on O‘ahu for the former Kaiser Estate job, so he sold almost everything he owned and moved.

SOLUTIONS: His company’s philosophy is, “There’s never a problem; there’s always a solution.”

Another guiding principle: “Always do the right thing,” he says.

That’s especially important on O‘ahu. “It’s a small island, and everybody knows everybody,” Kinghan says. “Everything gets around real quick … whether you’re a dirtbag contractor or somebody who means what they say and says what they mean.”

OUTSIDE HIS COMFORT ZONE: Once, he was asked to give a presentation on the future of home automation to a large convention of architects in Los Angeles in 1994. He was nervous but pulled it off. “There isn’t anything we can’t control,” he told them.

“They loved it though they didn’t understand it then. It was so new.”

Today, you can remotely turn on items at your house: lights, A/C, even your hot tub. Or Kinghan can set the system to turn the devices on automatically when your phone is a specific distance away. The possibilities are almost endless.

MENTORS AND INSPIRATION: “I’ve always had really awesome people in the right place at the right time,” Kinghan says. “I’ve had these blessings of angels and mentors.”

Then he adds, “Being grateful: That’s what inspires me – just being grateful [for] where I live and who I’ve got to love.”

ANDY KINGHAN’S JOB TAKES HIM INTO ODD PLACES – HIGH, LOW AND IN-BETWEEN – WHILE INSTALLING LIGHT, SOUND AND SMART SYSTEMS.

hiavls.com

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BY L AUR EL G ALVI N

Despite Federal Funding Cuts, INPEACE Continues to Facilitate Lifelong Learning INPEACE, among the local nonprofits hurt by cuts in federal grants, has pivoted to seeking new funding while keeping its programs running, CEO Sanoe Marfil says.

For 30 years, the Institute for Native Pacific Education and Culture has built a community by empowering and uplifting Hawai‘i residents of all ages through its three pillars: education, equity and economics, Marfil says.

Its 11 programs are varied but all free. Its Keiki Steps provides Hawaiian culture-based learning for keiki 5 and under and their families, with locations on three islands: Wai‘anae, Līhu‘e and Hilo. Programs meet regularly for enrolled families during the school year.

Another program, Ka Lama, offers training and workshops on topics such as business and financial goal setting; Ho‘āla provides families with information about early childhood education – prenatal to 5-year-old – through events, workshops and one-on-one counseling. The topics include finding and paying for preschool, and long-term real estate planning.

Hi‘ilei provides at-home educational visits to help parents learn about their child’s development through four points: language, cognitive, social and motor skills.

Educators also assist with future planning. Meetings are often weekly, and annual participation includes 200 parents, according to the INPEACE website.

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PHOTOS COURTESY: INPEACE

Eō is a cultural program that takes place after school and during the summer and prepares children for peer mentorship and leadership roles.

Other programs provide assistance with early literacy with preschool children and work closely with public schools to provide access to STEM programs.

Many INPEACE programs employ a circular model of turning participants into educators – whether it’s the “parents as teachers” model with the Hi‘ilei program, or the “grow your own teacher” model in Ka Lama.

Marfil says the continuous engagement strengthens the community.

One parent who grew into a teacher is Chantal Richie, a selfdescribed “local girl” from ‘Ewa Beach, who started participating with INPEACE in 2015 when she enrolled her kids in Keiki Steps.

“I’ve been able to grow as a parent,” Richie says, “but then also as a professional.”

She went on to work for INPEACE – first as an ‘ohana advocate and now as an early literacy coach.

“Being a participant, I was able to get more acquainted with the community, the resources that were available, meet other families, and just have a space where my children could grow and flourish. But we could do it together, and that was such a meaningful time for me.”

Many INPEACE employees start as parent participants, including CEO Marfil, whose child was enrolled in Keiki Steps for over two years. “I really wanted to be with my daughter, grow up with her and be her first teacher,” Marfil says.

She went on to work for INPEACE for 17 years before becoming its chief executive in 2024.

Marfil says she’s gratified that so many of INPEACE’s students have become its teachers. “It gives the organization this sense of pride that the impact we made when they were young has now come back to benefit us through their employment at the organization.”

The nonprofit recently acquired a home in Nānākuli formerly owned by Kaiser Permanente that will be used to house over 20 staff members. It will also serve as a temporary storage site for traveling science exhibits, and as the future home of the INPEACE center for entrepreneurship.

The home could also be used as a site for INPEACE seminars, and the nonprofit might also share it with other organizations, Marfil says. Funds are being raised now to renovate the home.

Despite the loss of federal funding from the National Science Foundation, only the Kaulele STEM program has been affected, and INPEACE has sought to diversify funding and pivoted to keep all staff members employed, Marfil says. The organization is open to securing more funding through grants and private donations.

“We would encourage and invite anyone who is interested, whose mission aligns with ours to donate, partner and see how we might collaborate,” Marfil says. inpeace.org and @inpeacehawaii on Instagram

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BY CY NTHIA WE S S E N DO R F PHOTO S BY J EFF SANN E R

Lahaina Is Rising, Slowly L

AHAINA – On Maui’s bustling

Highway 30, it can feel like life has returned to normal.

Traffic is dense between Lahaina and Kapalua, with people flocking to hotels and businesses. The parking lot of the renovated Lahaina Cannery, about a mile north of the ruined harbor, is jammed with cars. In the hills mauka of the highway that hugs Maui’s leeward coast, new homes are rising on empty pockets of land.

But nothing is really normal here. Nearly two years after wildfires destroyed Lahaina’s central historic and commercial district and leveled neighborhoods stretching into the foothills of the West Maui Mountains, residents still struggle to find stable ground.

They’ve endured long months moving from couches to hotels to rentals while hanging on to work, scrambling to find child care and plowing through reams of applications for assistance and reimbursement. Through it all, the terrible memories of Aug. 8, 2023, still haunt the survivors.

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Two years after the fire, its core historic and commercial center is still in ruins, but residents are rebuilding their businesses, homes and lives around the edges of town.

“7,000 STORIES” “Everyone has a story,” says Wilmont Kahaialii, a Hawaiian cultural expert, teacher and musician who lost his home in the fire. “There are 7,000 different stories. Some of them are more dramatic than others, and some are more devastating than others.”

Here are a few of those stories, including a homeowner who was one of the first to rebuild, a small business owner who’s reopening after losing a Front Street store, a noted artist who kept his clientele but not his studio, the leader of a historic foundation who’s planning complicated restorations, and the management team of a resort that longs for more visitors.

They mostly live or work near the old historic and commercial district, the heart of town that’s played a central role for centuries – as the seat of the Hawaiian monarchy, as a provisioning port in the whaling era, as a hub through the missionary and sugar plantation eras, and in more recent years, as a tourist mecca.

“In all my research, I cannot find another town in Hawai‘i that was a significant place during every era of Hawai‘i’s history,” says Theo Morrison, executive director of the Lahaina Restoration Foundation. Waves of people and commerce have shaped this small stretch of land that borders the protected harbor, a point of contact with the world beyond.

And in 2023, Lahaina entered a new chapter in its history: the fire era.

AN ESTIMATED 21,000 TREES WERE LOST, INCLUDING THIS FIRE-DESTROYED TREE NEAR LAHAINALUNA ROAD.

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THE HISTORIC DISTRICT Historic Lahaina is still largely a ghost town.

Much of the district is charred and gray, with patches of gravel marking spots where structures once stood. Remnants of buildings poke up through the rubble like broken teeth in need of pulling.

On a visit in mid-May, only a few vehicles traveled the vacant streets, including patrol cars. Occasionally, a fully intact structure came into view, a reminder of the zigzagging path of the fire, which ultimately destroyed about 2,200 structures.

The unscathed Maria Lanakila Catholic Church, for example, on the corner of Dickenson and Waine‘e streets, was open, with people milling about – a tiny pocket of normalcy amid the rubble.

South of the church and on the waterline is the stately seven-story Lahaina Shores condominium, which stands uneasily next to the bare foundations of neighboring properties. In late May, four of its studios were listed for sale at prices from $410,000 to $650,000, and vacation rentals were expected to restart this summer.

The main Front Street shoreline had recently been cleared of 237 concrete pilings and metal beams and bolts, and on Memorial Day weekend, the harbor area was opened to surfers. At the start of June, construction was scheduled to begin on a new project to replace the railing and sidewalk along Front Street.

Thick coral-block walls of many of the 19th-century buildings – “the anchors of town,” says Morrison – are still standing throughout the district: at the Old Lahaina Prison, built to hold rowdy sailors stopping over on whaling expeditions; at the Seamen’s Hospital on Front Street; at the Baldwin Home, the compound of the Rev. Dwight Baldwin and his large family, and once the oldest existing home on Maui.

All of these historic structures, and others that were gravely damaged or destroyed, will be fully restored or rebuilt, says Morrison. Artifacts have been recovered and debris removed from the 13 sites in the Lahaina Restoration Foundation’s care. A draft reconstruction plan, based on detailed drawings housed at the National Archives in Washington, D.C., has been finished.

The next step is to decide which projects to start first.

About 90% of the restoration funds will come from a grant from the Federal Emergency Management Agency, and the rest from county grants, private philanthropy and other sources, Morrison says. While the Lahaina Long-Term Recovery Plan, released by the county in December 2024, estimates the restoration of historic structures will take at least six years, Morrison expects it to be completed much sooner.

The plan also calls for reviving Hawaiian cultural sites along the shore. Known collectively as the royal complex, the sites include the island of Moku‘ula, where King Kamehameha III lived from 1837 to 1845. The island was surrounded by a huge pond called Loko o Mokuhinia, long considered a sacred site. By the early 20th century, the pond had been filled with dirt and turned into a park.

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1. SALES ARE UNDERWAY AT LAHAINA SHORES; 2. HANDMADE STREET SIGN

BY KE‘EAUMOKU KAPU; 3. A STONE MARKS THE HAWAIIAN SACRED SITE OF MOKU‘ULA; 4. OLD WALLS OF THE SEAMEN’S HOSPITAL; 5.

REDEVELOPMENT ON THE MAKAI SIDE OF FRONT STREET IS CONTENTIOUS; 6. REMNANTS OF A POOL NEAR THE SHORELINE; 7. “MEET ME ON FRONT STREET” BY RONALDO MACEDO.

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MAUI ARTIST RONALDO MACEDO HAD TO MOVE HIS STUDIO INTO A BEDROOM AT HIS PUAMANA TOWNHOUSE, WHICH SURVIVED THE FIRE. HE’S HOLDING A GICLÉE PRINT OF FRONT STREET; MACEDOFINEART.COM.

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THE GOLDEN MILE On Aug. 7, 2023, Lahaina’s main shoreline strip around Front Street was packed with restaurants, bars, art galleries and museums, local jewelry stores and mainland clothing chains. Boats ferried visitors on snorkeling and fishing excursions, and oceanfront vacation rentals delivered the drama of a Maui sunset.

The next day, all of that was gone, along with about $70 million a month in revenue and 8,500 jobs, according to a UH Economic Research Organization report. The state Department of Business, Economic Development & Tourism put the number of shuttered businesses at 834.

And it’s still gone as rebuilding on Front Street has stalled, and the question of what can be built at the waterline is being hotly contested. But there are stirrings of revival, thanks in part to two recent rule changes enacted to kick-start both residential and commercial rebuilding.

The first, most significant measure altered the permitting process to make it much easier for property owners mauka of Front Street, or outside the erosion zone, to rebuild. Before the change in February, owners had to go through a lengthy, complicated process to get what’s known as a Special Management Area building permit.

Maui County officials estimated that relaxing the SMA rule would help 103 commercial and 533 residential structures get permits a full year faster than before.

The second change was an update to Ordinance 5780 of the county code. As of March 24, owners of “nonconforming structures” – those legally constructed before the wildfires but not compliant with current zoning standards, such as setback rules — can get permits to build similar structures.

By late May, the county saw a sudden jump in the number of nonresidential permits submitted for processing: 152 of them – for both commercial properties and housing with four units or more – were being processed, according to the county’s rebuilding dashboard. Before that, only 16 nonresidential permits had been issued and nothing had been built.

Residential permitting was even higher: 180 permits were being processed, 396 permits had been issued, 265 houses were under construction, and 23 homes were completed. About two dozen of the residential permits are for projects in the historic core of town, says John Smith, administrator of the county’s Office of Recovery.

Maui County’s Department of Finance found that, based on mailing addresses, only seven sales of wildfire-destroyed properties were made to out-of-state buyers, according to an email from the county’s Office of the Mayor.

Smith says relaxing the SMA rules was the main reason for the bump, as it “provided a level of certainty that allowed people to move forward.” He notes that even though SMA permits are waived, owners still have to follow design guidelines set by the historic district zoning code.

The Lahaina Front Street Recovery group, made up of 73 landowners, helped advocate for the rule changes, with the goal of bringing the old town back to what it was before the fire.

“The property owners on Front Street, almost unanimously I would say, want to rebuild what they had. Nobody’s talking about skyscrapers, nobody’s talking about Disneyland. Nobody wants to do any of that,” says Morrison.

Kaleo Schneider, who leads the Front Street coalition, agrees. “Lahaina was its own island unto itself,” she says.

“It was beautiful, kitschy, fun, exciting, busy, and you could shop and mosey around. It looked like it had been there for a long time, and no one I’ve met doesn’t want to re-create it as it was before.”

She’d also like to see the commercial waterfront rebuilt, and has skin in the game. Schneider is president of an old kama‘āina business that owns five of the nine parcels on the makai side of Front Street, as well as the commercial buildings there. All but one of her buildings were destroyed in the fire.

The Lahaina Front Street Recovery group is pushing to rebuild “steadily and without friction,” she says, noting that 95% of the land and commercial property along both sides of Front Street are locally owned, even if lessees were mainland chains.

Schneider fears that adding delays and onerous rules to rebuilding the shoreline can create loopholes that mainland corporations could exploit. Delays might also make the commercial properties that trickle onto the market extremely valuable, she says, and far out of reach for local companies wanting to lease space.

This makai area still needs Special Management Area permits, which require an extensive review. Some landmark establishments that extended over the water have leases with the state Department of Land and Natural Resources, though whether those will be renewed is unclear. And the county is now trying to purchase other parcels of land on the makai side.

For the mostly commercial properties that could be turned into public spaces, the county’s Office of Recovery has sent letters of interest to see if owners would sell, says Smith, and a few transactions are underway. For private houses on the waterline, he says his office is helping owners navigate the SMA permitting process.

“We heard through conversations with the community that there was interest in having additional ocean access throughout Front Street,” says Smith, which motivated county efforts to buy property.

But some Lahaina residents would like more of the shoreline to remain open as a public space and a buffer from rising seas and storm surge.

“It’s an interesting chess match,” says Kahaialii. “You’ve got people who can afford the lawyers versus the county, who really can’t.” He hopes the county can get landowners to concede that the shoreline is an inundation zone and shouldn’t be redeveloped.

“It should never have been permitted, but it was,” he says.

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HOPE AND HARDSHIP FOR BUSINESSES While the historic core languishes, much of Lahaina’s commerce has moved to the edges of the burn zone. But the loss of Front Street – with its steady foot traffic and well-known sights – can make the transition hard.

For Ronaldo Macedo, one of Lahaina’s most successful artists, known for his street and harbor scenes, the loss can mean painting a place that no longer exists, based on memories and photos.

He’s lately turned to painting the area’s scenic shorelines.

Macedo says he’s burdened with survivor’s guilt but considers himself lucky. His coastal townhouse at Puamana, at the southern edge of Lahaina, was spared. Ninety-five of the complex’s 230 homes were not.

He and his family were some of the first residents to return, just seven months after the fire. But their unit had been covered in ash that left a sticky sludge on everything, explains his wife, Jennifer Macedo, and they spent months cleaning it up before moving in. She describes the quiet, solitary nights back then as eerie and unsettling.

In February 2024, just as he was moving back home, Macedo was ejected from his large studio in Emerald Plaza to make way for a bicycle store willing to pay many times more in rent. He moved all of his inventory and painting and framing supplies to a small bedroom in his townhouse.

“I can keep working and selling, which is great, but there’s no more space in Lahaina to rent,” he says. “There’s lots of demand and no supply.”

In a stroke of luck, his primary gallery, Lahaina Galleries, had relocated in 2020 from its pricey Front Street location to a smaller, less expensive spot at The Shops at Wailea in Kīhei. The Kīhei location remains open, but dozens of galleries located in Lahaina’s historic district are now gone.

Macedo has held on to a roster of clients who pay well for his work, but he says the fire took a toll on his outlook and ability to work. It was a year before he could paint again.

West Maui Sports and Fishing Supply sold ocean gear from a central Front Street shop for decades. In 2022, Lopaka and Katie Wilson bought the business, complete with an old cash register and pen-and-paper records.

The next year they lost everything, including the records they needed to receive fire-relief funds, which poured in from federal and state agencies, nonprofit organizations and private donations.

While they got some insurance money, the couple is “still fighting the insurance companies for loss of income,” says Lopaka Wilson. They were also offered a loan from the Small Business Administration but declined, since they’re still paying off a Covidera loan.

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To survive, the couple opened an online store while they searched for a brick-and-mortar location.

“We couldn’t find a place to rent,” says Lopaka Wilson. “We put in 20 different offers in different places and got shot down.”

The competition was fierce as everyone was searching, he says, including doctors and banks. “As a small business, we were on the bottom of the list.”

Finally, in late 2024, they landed a temporary store at the Ka‘anapali Shores Hotel north of Lahaina, where there’s some visitor business but few local customers. “It’s just nice to be open and operating. It’s like a glimpse of hope,” he says.

The Wilsons also signed a lease in May 2024 on a permanent store at the Lahaina Cannery, just north of the burn zone on Front Street. They’re still waiting for a permit to build out the store’s interior and hope to be open this summer.

With two locations, the Wilsons are shouldering an unnerving amount of risk. “Actually, my house is on the line for this spot at the Cannery,” says Lopaka Wilson. “If this doesn’t work out, I’ll be hopping around.”

Many businesses are putting their hopes in this shopping center near the ocean, which serves as a gathering spot and event space, and in the commercial centers mauka of Highway 30. Its anchor stores, Safeway and Longs, reopened shortly after the fire and helped keep survivors afloat.

Storefronts of open shops and coming-soon signs line the Cannery’s interior spaces. In the airy, air-conditioned food court, new food trucks are serving customers, and a new Bank of Hawai‘i branch recently opened in the parking lot outside, replacing the one that was destroyed.

ABOVE, LOPAKA WILSON BY HIS NEW STORE AT LAHAINA CANNERY, EXPECTED TO OPEN THIS SUMMER; HE AND HIS WIFE LOST THEIR FRONT STREET LOCATION. AT LEFT, A NEW BANK OF HAWAI‘I AND THE CANNERY’S UPDATED FOOD COURT.

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FINDING A STABLE HOME Ann Williams barely escaped the wildfire that raced along Lahainaluna Road and destroyed nearly everything in its path.

Her own house, about half-way up the hill, burned to the ground. Forty of the 102 people known to have died in the wildfire lived in the cramped Kuhua Camp area, just down the road.

Williams, a real estate agent with Keller Williams Realty Maui, fled to a friend’s house, then rented a small apartment in Ka‘anapali. When her daughter moved with her family to a FEMA-organized house in Kula, Williams decided to move too.

“I didn’t want to be there alone,” she says. “My granddaughter and my daughter – that’s my whole family right there.”

She was paying the mortgage on her ruined house and insurance covered much of the rebuilding, which she’s completed in stages. But getting that insurance, she says, was “a fight, every little step of the way.”

TARA-LYNN KAHAIALII DIEGO’S KAHOMA VILLAGE TOWNHOME NEAR BABY BEACH SURVIVED THE FIRE BUT HAD HEAVY SMOKE DAMAGE.

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In May, the charming, cozy house with an expansive back lānai was nearly done. Electricity, water and sewage are working in the area, but Williams’ old mango, citrus and avocado trees are gone, leaving the place exposed and hot.

Williams is anxious about moving in and says she’ll probably rent out the house until the semblance of a neighborhood emerges. The streets still feel like a wasteland, though intact houses and new construction dot the landscape.

Across from her house, a mammoth two-story home has been framed and roofed. Beyond that, in the hills, severe drought has dried out the wild grasses, the very fuel that threw all of their lives into chaos.

Among the many fire-mitigation efforts underway, Hawaiian Electric is installing high-resolution cameras that monitor fire-prone areas and send data directly to Maui fire stations.

Back near the shoreline, Tara-Lynn Kahaialii Diego says it was “bittersweet” to finally come home in January. She was one of the last owners to return to Kahoma Village, near the entrance to Pu‘unoa, or Baby Beach.

While most of the townhouses in Kahoma Village survived, four buildings did not; the homeowners association hired an attorney to get a Special Management Area permit to rebuild them before the rules were relaxed. Across the street, Diego’s former affordable rental complex is gone.

In the 17 months between the fire and her return, Diego bounced among her husband’s family in Hāna, a condo and a hotel offered through the Red Cross relocation program, then on to Kīhei, with other stops along the way.

Through all of that, along with dealing with ceaseless paperwork for temporary housing, financial assistance and child care for their young daughter, she and her husband were able to keep their clothing business – Unconquered Hawaii – alive through pop-up events.

And there were other complications. She was diagnosed with cancer and underwent two surgeries and six months of treatment. “I can only handle one thing at a time mentally,” she says. “I wanted to be done with my treatment, but I also wanted the debris gone.”

In addition to all the debris, her home had severe ash and smoke damage. She gutted the unit’s interior and, worried about toxins, threw away most of her family’s possessions.

“Now I’m just so glad to be back,” says Diego. “A big part of it is the connections, seeing the people, seeing businesses come back that went away.”

ANN WILLIAMS’ HOME ON LAHAINALUNA ROAD WAS DESTROYED BY FIRE; HER NEW HOUSE IS ONE OF THE FIRST TO BE COMPLETED.

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AFTER LOSING HIS HOME, WILMONT KAHAIALII AND HIS FAMILY MOVED FROM PLACE TO PLACE BEFORE SECURING A FUTURIST TEMPORARY HOME AT KA LA‘I OLA.

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LIFE IN “THE FISHBOWLS” Far up in the hills above Lahaina, where the ruined subdivisions along Wahikuli Road meet the bare, red-dirt Mars-scape of the West Maui Mountains, Wilmont Kahaialii lives with his wife and two sons in glass-lined pods.

“It’s kind of like I get to live in ‘The Jetsons’ house,” he says with a laugh, referring to the futuristic 1960s cartoon.

After the fire destroyed their home, Kahaialii and his family spent six months at a friend’s house, then about a year in a home that FEMA found for them in Kīhei. In March, they landed a place to live at Ka La‘i Ola, a collection of temporary homes, which he says some residents affectionately call “the fishbowls.” The more traditional tiny houses there are known as “the chicken coops.”

The development is a huge undertaking for local nonprofits HomeAid Hawai‘i and the Hawai‘i Community Foundation, and will include 450 units on 57 acres when completed.

Kahaialii’s unit has nearly 600 square feet of space, with three bedrooms and two bathrooms. He says one of his sons is so tall that “he’s walking with a hunch” in their new home, made up of two adjoining pods produced by the Hawai‘i-founded company NanoNest.

But it’s comfortable too, with air conditioning, a small lānai and garden, community picnic areas and sweeping views of the ocean. He says his wife is happy there.

Starting in August, rent will be based on household income, he says. His family plans to stay at Ka La‘i Ola until their lease is up, which he says is in three years. After that, he hopes to finally get off the Hawaiian Home Lands waitlist, which he’s been on for 28 years.

Though Kahaialii likes to laugh and tell jokes, there’s a seriousness beneath his lighthearted demeanor when he says that if the 30-year mark comes with no homestead lease, “I’m going to start a revolution.”

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THE SOUND OF HAMMERS These stories of displacement match survey data collected by UHERO and reported in the Hawai‘i Housing Factbook 2025: The tumult of moving from place to place has slowed, but people remain vulnerable.

About three-quarters of respondents said they had stayed in one place for at least six months, a measure of stability. But the report noted that “displacement remains a significant risk” given that half of the respondents were in temporary housing of some sort, such as staying with friends and family.

When those arrangements fall apart, more trouble can await in the form of low inventory and high prices. Median rental costs for small one- and two-bedroom units have inched down since the fire, but the median rent in Lahaina is still $2,099 and the median asking rent on Craigslist is $3,300, according to UHERO’s Factbook.

More than half of renters in Lahaina pay over 30% of their income for rent, and a quarter pay more than 50%; the latter is considered severely rent burdened. The median rental price in Maui County as a whole is about $250 cheaper than in Lahaina, and asking prices are $750 less.

Buying real estate is even tougher. The median price for a single-family home in Lahaina is an eye-popping $1,697,500, about half a million dollars more than the county’s median price. The median price for condos is $975,000, more than $62,000 higher than in Maui County overall.

“All of Maui is ridiculous right now. A lot of people I know tell me they can’t pay Lahaina prices, and can barely afford Kīhei,” says Diego. “People are still commuting from other parts of the island for work. You do whatever you have to do to make it work right now.”

One proposal moving through the Maui County Council is to phase out about 6,000 of the island’s nearly 11,000 short-term vacation rentals. These condo units are on 2001’s so-called Minatoya list of properties that are allowed to operate as short-term rentals.

Many owners won’t be happy if their units are phased out, and even some residents are skeptical it would help much. “Just taking them away from the visitor industry does not make it more affordable to live here,” says Diego. “It’s a step in the right direction, but we still need more, whether it’s rental caps or something else.”

Some people are taking matters into their own hands and erecting houses without permits. Smith, from the county Office of Recovery, says the government actively pursues such violations with stop-work notices to “make the owner or contractor come into compliance. That has happened a few times, but it’s not pervasive,” he says.

In other cases, the huge homes emerging on plots where single-story houses once stood are actually legal. “What I think people are a little shocked by is what the zoning code allows,” Smith says, including homes up to 30 feet tall.

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BY EARLY JUNE, 180 RESIDENTIAL PERMITS WERE BEING PROCESSED, 396 PERMITS HAD BEEN ISSUED, 265 HOUSES WERE UNDER CONSTRUCTION, AND 23 HOMES WERE COMPLETED.

These new, bigger houses are often better suited for Lahaina’s multigenerational households than the old, tiny cottages with rooms that are added on later, explains Erin Wade, Maui County’s deputy managing director.

“Folks are coming in and making a big investment [in rebuilding], and it’s often a two-story house that now has a garage, which it didn’t before,” she says. “I think the proportionality is surprising for people.”

With the rising number of permits and new construction in progress, Laksmi Abraham, the director of communications and government affairs in the mayor’s office, says Lahaina is “at a critical tipping point” in its transformation.

“When you walk through the neighborhoods where they’re rebuilding, you hear the hammers and the heavy machinery. It’s so encouraging, there’s so much hope.”

MORE VISITORS, PLEASE Travel just a couple of miles north of the burn zone, and the landscape dramatically changes to lush vegetation and long, golden beaches.

This manicured, well-watered stretch of the arid coast is as calming as the advertisements promise. It’s also a sore spot among residents who are frequently asked to conserve water.

At the Royal Lahaina Resort & Bungalows, wind flows from the ocean through the open lobby. Yachts are anchored in the ‘Au‘au Channel that separates Maui and Lāna‘i, a handful of visitors sunbathe by the pool and guests browse in the newly opened Mana Up boutique.

The resort reopened to tourism in June 2024, after 10 months of hosting fire survivors. Yvette Kitagawa, the hotel manager, says at least 1,500 survivors stayed at the resort.

“Two days after the fire, we put people up, and with no contracts yet from the Red Cross or FEMA. No one was vetted, so it was nerve-wracking,” Kitagawa says.

She says she told her staff, “I want everyone talking to people and making them feel at home.” In turn, the new guests treated their rooms well, like their own homes, she says, and the resort encountered very few problems.

Now tourists are back but business remains slow, at about 50% occupancy, says Nicholas Kuhns, general manager of Highgate, the property’s management company.

Group travel is down, Japanese visitor numbers remain depressed, and many Canadian tourists are boycotting the U.S. after President Donald Trump imposed tariffs and threatened a national takeover.

And for travelers to Hawai‘i, the warnings to stay away from Maui that circulated shortly after the fire may have stuck. In the first three months of 2025, the island of Maui had 58,574 visitors, compared with 65,287 in 2022, a 10% drop. Other islands saw increases.

“Three out of four dollars on Maui come from tourism,” says Kuhns. The businesses that are open in West Maui need visitors, he says, and the people living there want to get back to work.

THE MANAGEMENT TEAM AT THE ROYAL LAHAINA RESORT & BUNGALOWS, DUANE SPARKMAN, LEFT, YVETTE KITAGAWA AND NICHOLAS KUHNS. BELOW, A MANA UP STORE JUST OPENED AT THE RESORT. NEXT PAGE, TREES ARE BEING GROWN TO REPLACE FIRE-DAMAGED ONES.

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ABOVE, CARLETON’S “PIONEER MORNING,” VILLAGEGALLERIESMAUI. COM/ROSTER/ CARLETONKIN.HTM

THE LOST TREES On the outskirts of the Royal Lahaina Resort’s large property is a collection of trees growing in pots. When they’re sturdy enough to plant in the ground, they’ll be given free to residents who want to replace their fire-ruined trees.

The project is the brainchild of Duane Sparkman, the resort’s chief engineer and the founder and president of Treecovery Hawaii. He estimates that 21,000 trees burned and 24,000 need to be planted.

So far, 14 resorts as well as the Kahului Airport and other places have devoted space on their properties for the trees, which were purchased through donations. About 6,000 have been planted, including ‘ulu, persimmon, fig and coconut trees.

“We live in two worlds – the corporate world and the cultural world,” says Sparkman. “This project brings them together. It’s healing so many people in so many ways.”

One of his most visible tree-saving projects is also the most emotionally fraught: the old banyan tree on Front Street, planted in 1873. The tree once stood 60 feet tall and covered two-thirds of an acre.

After being scorched in the fire, the only living tissues were found in the lower trunks, and the tree’s fate was uncertain. Arborists and volunteers kept the tree alive, and while it’s still fragile, it’s growing.

The Lahaina Restoration Foundation oversees the park where the tree lives. Morrison, the group’s executive director, says the Treecovery team is using an air-layering technique to create “baby banyans,” which are cared for in pots. When the grafted branches are planted in the ground, they’ll grow upward and join the original tree.

Like everything about Lahaina two years after the fire, the banyan tree’s recovery is an inspiring story of resilience, but also frustratingly slow and tentative – and triggers so much pathos it brings tears to the eyes. If the tree had a message for the town, it might be to keep moving forward, branch by branch, building by building.

“You have to have hope that we can rebuild,” says Morrison. “It’s slower than people want it to be, of course, but we’re a real strong community and we will rebuild. You just can’t really sit down and think about it too much. You’ve just got to keep going.”

Rebecca Brooking helped in the reporting of this article.

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BELOW, MACARIO PASCUAL’S “PALMS OF MALU‘ULU O LELE,” PASCUALFINEARTS.COM.

Remembering Lahaina: Places, People & Culture Special thanks to Maui artists Ronaldo Macedo, Carleton and Macario Pascual for granting permission to use images of their paintings in this story. The paintings are included in “Remembering Lahaina,” a large-format art book produced by the Maui Arts League and Legacy Isle Publishing.

The book gathers 251 original paintings from 87 artists worldwide, all of which were created during Maui Plein Air Painting Invitational events. The term “plein air” comes from a French phrase for “outdoors.”

Net proceeds from sales of the first release of “Remembering Lahaina” will benefit Maui artists and their staff who were affected by the August 8, 2023, wildfires. To order a copy, visit Legacy Isle Publishing or the Maui Arts League store.

SPECIAL PROMOTIONAL SECTION

INDUSTRY OUTLOOK 2025

ALTRES

S TA F F I N G A N D H U M A N R E S O U R C E S

Through our comprehensive training programs, including supervisor certifications and safety education, we support our clients’ internal growth and help employees advance into new roles and responsibilities. This year, we also opened the ALTRES Leadership Academy to our clients with the goal of investing in developing more leaders throughout our community.

What has been your company’s biggest challenge that has come to light since January that was not apparent then?

Q&A WITH:

Raquel Guss Curran Director of Strategy, ALTRES

Many of your clients and customers have faced huge challenges this year. How have you helped them address those challenges?

In the first half of 2025, rising costs, rapid tech shifts, and increasing demands for speed and flexibility have pushed business owners to rethink their partners and processes.

We’ve stepped in as a true partner— offering handson HR support, helping rethink workforce plans, and creating benefit strategies that support both the bottom line and employee well-being. We’ve always been deeply committed

to our clients and provide predictable pricing, which allows for peace of mind to focus on what truly matters in their business.

What was the most important trend or change impacting your industry in 2025 and how has it evolved since January?

Employers are still struggling to fill key positions.

To stay competitive, we’re seeing many of our clients focus on upskilling and leadership development for their current teams. This not only improves employee retention, but ensures teams are equipped to adapt as technologies evolve.

Since January, we’ve seen a significant rise in both the frequency and sophistication of cybersecurity threats—especially phishing and social engineering attacks. In response, many clients have had to strengthen their defenses and reevaluate their risks.

We’ve supported these efforts where possible, offering guidance and resources to help navigate the evolving threat landscape.

As these threats continue, staying ahead demands ongoing education, heightened vigilance, and strong collaboration at every level of the organization.

ALTRES ALTRES .COM

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BY SAVVY AND R E W S ANDREWS, A SPRING INTERN FOR HAWAII BUSINESS MAGAZINE, WAS A RESIDENT AT RISE FOR 16 MONTHS AND A RISE COMMUNITY AMBASSADOR; SHE MOVED OUT IN DECEMBER TO FOCUS ON THE INTERNSHIP AND HER JOURNALISM EDUCATION. WE ASKED HER TO PROVIDE AN INSIDE LOOK AT RISE.

Inside RISE at UH Mānoa The center’s goal is to be a catalyst for positive change – supporting innovation, entrepreneurship, economic diversification and resilience for Hawai‘i

A

FTER A RAGGED OPENING IN AUGUST 2023, UH MĀNOA’S RISE CENTER IS NOW FULFILLING ITS MISSION: providing

a space where students from all majors can live, learn and work together, collaborating on new ideas and maybe launching startups – all in the spirit of entrepreneurship.

It’s in the name: the Residences for Innovative Student Entrepreneurs, now the Walter Dods, Jr. RISE Center in recognition of philanthropist and former First Hawaiian Bank CEO Walter A. Dods Jr.’s $5 million donation to the Pacific Asian Center for Entrepreneurship.

Lauryn Johnson, a journalism major from Tacoma, Wash., moved into the center in August 2024, and like others I spoke with, she’s glad she chose RISE. She says she was on the waitlist and went through four sessions of the Student Housing Services waitlist before securing a spot.

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She worried at first that RISE might not suit her, but that’s in the past. “I really do love living here and I wouldn’t take it back. I was really looking forward to meeting people in the building. Being in such a large community means you’re bound to find those ‘gems,’ the kind of people you really connect with.”

Lenox Covington is a computer science major who is involved with PACE, the guiding force behind RISE from its initial concept to the present. Covington has lived at RISE since it opened two years ago.

“Living here is pretty expensive. … But with a PACE scholarship, it comes out to about the same, or maybe just a little more than the freshman dorms,” he says.

“And this building is way newer and nicer, with a full kitchen and AC, unlike the dorms.

The rooms are tiny for the price, though. If you have a double room like me, you can high-five your roommate from your bed.”

His overall assessment? “Living here has been great. I renewed mainly because of PACE and the people that make up the programs.

Even as a nonbusiness student, I think PACE is like the CS networking cheat code,” he says, using programming jargon to suggest an inside path to knowledge, connections and success.

“STUDENTS MAKE THE SPACE SPECIAL”

RISE, which cost $70 million to build, is modeled after the Lassonde Studios, a residence for student entrepreneurs, innovators and creators at the University of Utah. The residence’s motto is “Live. Create. Launch.”

“What we learned from Utah when visiting was that it’s the students who make the space special.

They’re the ones who activate it and bring it to life,” says Sandra Fujiyama, executive director of PACE.

PHOTO COURTESY: UNIVERSITY OF HAWAI‘I

“That’s why it was so important to us to have students living in the space. It’s also why our team doesn’t have permanent desks or offices here.” Instead, team members are based at the Shidler College of Business, across University Avenue from RISE. “That was our way of making sure the students, who are closest to the space, would be the ones to truly activate it,” she says.

Susan Yamada, chair of PACE’s board of directors and a Shidler alumna, spearheaded RISE’s creation. It was developed through a public-private partnership involving UH, the UH Foundation and Hunt Companies.

Construction costs were financed using tax-exempt bonds, which are being repaid with revenue from student dormitory fees.

No taxpayer funds were used.

The six-story dormitory now has housing for 374 students plus shared spaces.

It is managed by B.HOM Student Living, a company that says

it manages more than 30,000 beds at 34 universities nationwide. The programs on RISE’s coworking floor are run by PACE. “In the first year, students from every school and college on the Mānoa campus lived at RISE,” Fujiyama says. “It was so cool to see business students living next to engineering students, next to computer science, nursing and even art students. That kind of diversity was exactly what we were hoping for; it’s something we’re really proud of.”

Covington, the computer science major, just hit the one-year mark with an internship facilitated through PACE. “All kinds of cool people pass through here [PACE] – tech founders, venture capitalists, professionals in almost every field,” he says. “For my first software engineering internship, I actually met my boss through an event I got invited to through PACE … and I just hit my one-year mark with the company.”

“WE SAW THE TREMENDOUS IMPACT”

Nearly a decade ago, the UH Foundation looked to buy the Charles H. Atherton YMCA – home to 53 apartments and 80 beds for UH students – after it was put up for sale. After the planned purchase, UH’s student housing office would renovate the property and turn it into a UH dormitory. The mortgage would then be paid off gradually. But estimated costs turned out much higher than anticipated and the project stalled.

That’s when the idea for RISE emerged. After touring universities across the country and learning about entrepreneurial living-learning communities, Yamada and others saw a chance to bring something new to UH Mānoa.

“We saw the tremendous impact these communities had, not just on the university ecosystem, but also on the larger community,” says Krystal Lee, who was part of the project from concept to completion and now serves as a program manager at PACE.

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“We seriously didn’t have soap or trash cans in any of the bathrooms for months, and no janitors at first. Thankfully we have them now, because without them, the place would be a mess,” says Covington.

“Last year, the fire alarms were going off constantly – almost every single day, sometimes two or three times a day. This year, though, things have been a lot better.”

EVERYTHING WAS FRESH

During that first move-in week, I stood in the crowd as one of just two community ambassadors – B.HOM Student Living’s version of resident assistants – tasked with building community in the new space.

My job, simple at first, seemed like the perfect position for a people-person like me.

I served as a liaison between residents and the management team. I helped build a vibrant atmosphere and sense of community by planning floor meetings and events, supporting residents, and helping with day-to-day duties. I worked office shifts, gave tours, helped with marketing and leasing, and handled after-hours calls involving things like lockouts and noise complaints.

The first month was rough: 13 calls in one horrible night from residents locked out of their rooms, and complaints about students playing their music too loudly. But I got the hang of it. The 50% rent discount helped – but that had to be negotiated with B.HOM from the original 20% discount.

A few months after the start, we were fully staffed with six community ambassadors to help the general manager, assistant manager and leasing consultant.

Their mission and mine was to provide great service and keep residents satisfied.

RISE – UH Mānoa’s first new student housing construction project since 2008 – opened in time for the fall 2023 semester. On the day I moved in, I got my room key from two women sitting at a plastic table in the “lobby” – then just an open space with little furniture and unpolished floors. The place was bare and unpainted, with no wall art or even signs pointing to bathrooms and elevators.

But the halls were spotless and everything was fresh – and I was ecstatic to be on the ground floor, literally, of something new and exciting.

RISE offers a mix of private and shared one- and two-bedroom apartments. Instead of en suite bathrooms, each of the mauka and makai wings has several individual-use private bathrooms for residents. There is also a communal kitchen and lounge, with a shared laundry room on every floor.

The second floor features an amenity deck and a PACE coworking space of 10,000 square feet – a bit bigger than the size of two basketball courts. Near the lobby are places to store bikes and surfboards, as well as moped parking.

When I moved in, there was no paved walkway or lawn out front – just dirt, bright orange cones, caution tape, a small excavator and a work team.

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HIGHER FEES AMONG THE CHANGES

Choosing to live at RISE was one of the best decisions I’ve made. It’s something I’d say while leading newcomer tours – and I meant it.

But management changed and my job requirements did too, again and again. Building rules affecting everyone also changed: Moped parking went from free to paid, resident vehicle parking was no longer available for purchase, the $350 room transfer fee warped into $500, and the $30 lockout room key charge jumped to $175.

Says Covington: “I paid the $500 transfer fee just to switch rooms – it’s insane. All the managers had to do was clear the vacant room for move-in and hand me the key. I have no idea why the charge was hundreds of dollars.”

IMPROVEMENTS MADE ALONG THE WAY

I lived and worked in RISE for a year and four months until I resigned in December 2024 to focus on my journalism studies and this internship with Hawaii Business Magazine.

I had watched the building grow into what it is now. Residents are constantly coming and going, a coffee shop is being built in the lobby, foosball tables and grills have been set up in common areas, new resources are available in the PACE space on the second floor and cameras are up in the hallways. And, of course, cockroaches are finding their way into the kitchens that residents didn’t keep clean.

Jayda Pandes, a resident and PACE leader since RISE opened, recently became a community ambassador too.

“It’s not an easy job, especially as a full-time student, but it is convenient. I’m able to live where I work, take a nap in between shifts, get to know and help my neighbors,” Pandes says.

As with many residents, RISE helped me find my community

PHOTOS: SAVVY ANDREWS

“We knew this had to be a public-private partnership. The university had no money to spend on construction for this building.”

There were plenty of challenges along the way. “One of the biggest hurdles we had to overcome was that this property wasn’t part of the campus map,” so zoning had to be changed, Lee says.

Neighborhood board and City Council meetings followed.

“Fortunately, the community and students showed up in support” and rezoning was approved.

and my best friends. It became an anchor for me, somewhere I could call home, especially after transferring to UH from California State University, Sacramento, and having to rebuild my college life in a new place with new people.

RISE grounded me as I adjusted to a new university, making new friends and living half an ocean away from my family in California.

Johnson, the resident who moved into RISE on its one-year anniversary, says the rent of $1,300 to $1,700 a month for a 121-195-square-foot room is worth it, mainly because of the center’s proximity to campus. Plus, she is more comfortable in a shared space than living alone. (Rent has increased every year and meals are not included.)

SIX STUDENT-RUN PROGRAMS

The PACE Leaders program began when RISE opened. Its leaders bring life to the building through six student-run initiatives: the Calvin Shindo Student Venture Fund, Entrepreneurship Live, the Maker Program, PACE Ambassadors, Kalo Grants and Level Up Workshops.

PACE Leaders scholarships range from $1,000 to $6,000 a year.

The innovation and entrepreneurship facility, powered by PACE, includes a startup incubation

space, conference rooms and photo booths, a classroom, maker spaces, a recording studio, an event space and prototyping equipment. All are free to students of all majors from across all 10 UH campuses.

“The program’s mission is to help students develop an entrepreneurial mindset while in school, because we feel that entrepreneurship at its core is about solving problems,” says Lee, the PACE program manager. “So if you can develop that mindset – while being creative, collaborative, building critical thinking skills and communicating effectively – we believe that skill set will take you far no matter what career you go into, whether that’s business, government, health care, education or anything else.”

Jonavan Gonzalez is a graduate student and PACE Leader. “I chose to live at RISE because I’m well involved with PACE, and this housing just made the most sense for me.

Professionally, I’ve grown a lot – I’ve networked with like-minded people and have gotten more engaged with campus life since I now live right here and no longer have to commute,” he says.

“I’m always downstairs at PACE, and what I love about living here is that throughout the day, I can head upstairs to my room for some privacy and recharge when my social battery runs out.”

PACE says its 15 programs help students develop skills as leaders, creators, collaborators and communi-

cators through hands-on experiences and wraparound support.

Its initiatives include Innovate 808 – a weekend event where students pitch solutions to challenges posed by local companies – and accelerator programs in which UH innovation students mentor visiting peers on complex Hawai‘i issues.

Another is the annual UH Venture Competition. Tate Goodman, a PACE Leader and a finalist in that competition and a winner of another, says the center has always supported him and his startup, Pacific Carbon.

“My co-founders and I applied for the $1,000 pitch at PACE’s Kalo Grants Live Pitch Event and were fortunate enough to win. It really helped us jump-start our venture,” Goodman says.

“PACE is such a valuable hub.

If you’re an entrepreneur, it’s 100% the space for you. If you’re looking to start a business, you won’t find a better spot at this university to do it.”

The vision for RISE came into sharp focus during the Covid pandemic, when it became clear how vulnerable the Islands are, Lee says.

“That really reinforced the need to build something like this.

Our long-term goal here at RISE is for this space to serve as a catalyst for that kind of positive change – supporting innovation, entrepreneurship and ultimately, economic diversification and resilience for Hawai‘i,” she says.

H AWA I I B U S I N ES S | 35

BY KATHRYN D R URY WAG N E R

Condos Under Pressure Rising insurance rates continue to squeeze condo owners on O‘ahu, but relief may be in sight

A

N ONGOING INSURANCE CRISIS HAS HURT CONDO SALES ON O‘AHU: Prices are

down and properties are lingering on the market more than three times longer than in 2022.

The biggest factor is the rising price of insurance. When the insurance coverage on a condo building is not 100% of the cost to rebuild, many banks and other mortgage lenders are reluctant to lend money to people wanting to buy condos there.

“The challenges we face with condo insurance – rising costs, accessibility and coverage – are complex, with no clear solutions yet,” says Trevor Benn, president of both the Honolulu Board of Realtors and real estate firm Forward Realty, via an email interview. “Lenders are trying to find nonsalable loan solutions while we continue to press our legislators nationally and locally for assistance.”

The U.S. and much of the rest of the world have suffered more frequent and more powerful coastal flooding,

36 | J U LY 2 0 2 5

wildfires, hurricanes and windstorms in recent years. That’s led to more catastrophic claims, Benn notes, with huge losses for insurers that are then shared with customers in the form of higher rates.

In fact, global reinsurance losses have exceeded $100 billion annually for several consecutive years, reports Jorge Martinez Marin, via an email interview. Marin is a producer at Honolulu-based insurance agency ACW Group, which writes insurance policies for condominium associations across O‘ahu, Hawai‘i Island, Kaua‘i and Maui.

“And multiple admitted carriers such as FICOH, Fireman’s Fund and DB Insurance are not writing new business/policies.” Additionally, he notes, “Surplus carriers are reducing capacity and requiring agents to build layered ‘insurance towers’ of multiple carriers to fully insure properties.”

ORIGINAL PHOTOS: AARON YOSHINO; ILLUSTRATION: JEFF SANNER

H AWA I I B U S I N ES S | 37

OLDER BUILDINGS NEED MORE REPAIRS

Compounding the problem is the aging infrastructures of many of Honolulu’s condo buildings. For instance, old plumbing is more likely to break down and a single leak can damage multiple condos, leading to more insurance claims and higher premiums. “[Insurance] carriers increasingly inquire about plumbing age, as water damage remains the state’s leading claims driver,” says Marin.

“Consequently, water damage deductibles have risen from $5,000 to a market norm of $50,000, with some properties facing deductibles as high as $250,000.”

Many condo associations have experienced insurance premium increases ranging from 300% to 600% over the past two years.

Often the buildings hit hardest are those that have fallen behind on maintenance and replacement of things like plumbing and electrical systems. These costly repairs must be paid by special assessments and increases in association fees.

“An average condo association fee is about $1,000 in Hawai‘i, so that’s like a whole other mortgage,” says Stephany Sofos, principal at SL Sofos, in a telephone interview. “It’s about $1.25 to $1.75 per square foot for a maintenance fee. When I moved into my condo 20 years ago it was $500, and now it’s $1,500. It’s prohibitive to many.”

Sofos, who’s also a real estate consultant, appraiser and broker in Honolulu, personally sold two one-bedrooms condos within the past two to three years, one for $425,000 and one for $435,000.

Now, the same type of unit in the same building is selling for $390,000 to $410,000, she says.

Rising insurance costs reduce market value, Marin explains: For

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every $100 increase in monthly fees, a condo loses $20,000 in value.

The 2017 Marco Polo high-rise fire – which left four people dead, caused more than $100 million in damage to the building and led to dozens of lawsuits – spurred state legislation in 2023 requiring the installation of fire sprinkler systems in older high-rises, adding another financial burden for condo associations and owners.

LOWER PRICES, MORE CONDO INVENTORY

Benn says the Honolulu Board of Realtors’ monthly report shows the median condo sales price in April 2025 was down 4.4% compared to April 2024. The median number of days condos spent on the market before selling went from 12 in April 2022 to 43 in April 2025. Inventory – a measure of how many condos are available for sale – went from 1.5 months’ worth to 6.8 months during that period.

“The market has certainly shown some resiliency, but condos are lower in price, and inventory is growing,” Benn says. “Condo prices have been affected by many factors, including rising insurance costs, pipe replacements, fire alarm/suppression systems, and more.”

“The correlation would seem that as monthly costs rise, values are negatively affected, and more owners may choose to sell.”

He provides historical perspective. “The condo market has been essentially flat for the past three years. We saw a large bump in values during the Covid stimulus (almost 40% in two years), and now we have leveled off. This is exactly how the Hawai‘i real estate market historically works.

We have bursts of appreciation followed by flat or even slightly downward periods. All told, when looked at with the benefit of time

(going back 50 years), we tend to appreciate about 4-5% a year.”

“If we look at the bigger picture across a broader period of time, our most recent statistics for April show that year-to-date sales are down 2.3% compared to 2024 and 6.5% compared to two years ago.”

By the end of April, the yearto-date median price for condos was $510,000, Benn reports; that’s unchanged from a year ago and up 2% from two years ago. Yearto-date median days on market increased to 43, up from 31 days a year ago and 24 days two years ago.

Additionally, Benn notes O‘ahu’s changing buyer demographics. “The strong U.S. dollar has made Hawai‘i real estate less attractive to Japanese investors, who were once a significant part of the condo market. In some cases, they are now selling off their properties instead of buying.”

ADVICE FOR BUYERS AND OWNERS

However, while sellers face more challenges in this market, buyers, with additional properties to choose from and more leverage to negotiate, have more opportunities.

“I recommend buyers prioritize properties with recently updated plumbing and proactive, engaged boards,” says Marin.

“Deferred maintenance – particularly plumbing – can result in costly future assessments and high insurance premiums. For example, a 24-story, 140-unit building in Waikīkī is currently investing $3.2 million to replace its plumbing system,” he says.

“That said, properties with higher fees but strong reserves and diligent maintenance can maintain or even enhance their market value.”

Current condo owners can protect their investment by

staying informed on what the condo association board is doing, ensuring regular maintenance is performed on a timely schedule, and that any structural issues are dealt with promptly.

LAWMAKERS VOTED TO PROVIDE RELIEF

In May, the Legislature passed a bill that seeks to stabilize the property insurance market in the state. It expands the powers of the Hawai‘i Property Insurance Association and reactivates the Hawaii Hurricane Relief Fund.

If signed by Gov. Josh Green, the bill will provide relief to condo associations in need of secondary insurers and low-cost loans for maintenance and big-ticket repairs – like adding those sprinkler systems – that in turn reduce risks to insurers.

“The government had to do something,” observes Sofos. “The average person cannot afford the rates the way they are going up.”

Additionally, the insurance burden adds to the housing availability crisis. “The government wants to build more housing, and the only way to do that is to go vertical. We can’t keep building laterally, particularly in Honolulu. So, to do affordable housing, senior housing, any housing, you have to go vertical,” she says.

“They have to do something to balance the costs.”

She says the insurance situation will not be easily resolved, but she predicts a major correction.

For his part, Marin is hopeful that the proposed insurance bill will be signed into law. “While implementation details, funding structure and allocation processes are still being finalized, the fact that the issue is receiving attention is an encouraging and necessary step.”

Some Condo Buildings Are on Blacklists

F

ANNIE MAE WAS CREATED BY CONGRESS DURING THE GREAT DEPRESSION TO ENSURE ENOUGH FUNDS ARE AVAILABLE NATIONWIDE TO SUPPORT RESIDENTIAL MORTGAGE LENDING. Fannie Mae is also

keeping a “blacklist” of condos, including in the Islands – a development first reported nationally by the Wall Street Journal in March.

The list grew following the 2021 collapse of the Surfside condo near Miami, Florida. If a condo building is on the blacklist, it’s much harder to get a mortgage on a condo there, which in turn can reduce the value of all condos in that building.

The blacklist especially affects markets in states that have been hard-hit by climate disasters, including Florida, Texas, Colorado, California and Hawai‘i. Regulators are being stricter with building safety and financial requirements, examining factors such as how much money a condo association has in reserve, if there’s any pending litigation, and any unaddressed structural or safety concerns.

For example, “federally backed lenders such as Fannie Mae require 100% hurricane coverage,” explains Jorge Martinez Marin, a producer at Honolulu-based insurance agency ACW Group. He says a blacklist of over 400 Hawai‘i properties without adequate coverage is maintained by some local banks.

The catch? The Fannie Mae list is not publicly available.

Your loan officer can help you gain information.

“Some condos have chosen to comply with Fannie Mae guidelines, and others have determined that the costs do not justify the benefits,” says Trevor Benn, president of the Honolulu Board of Realtors and the firm Forward Realty.

Each condo association can make its own decision, he says, “So, it behooves the Realtors and lenders to check with each individual building.”

“Buyers should work with their Realtor to get the most recent set of condo documents, ask specifically about insurance coverage and inquire about looming assessments. Talking to the management company and reviewing financial records is essential to understanding what costs may be coming.”

H AWA I I B U S I N ES S | 39

PHOTOS GETTY IMAGES

The valuation of agricultural lands is more than an academic exercise: It is an important factor governing land and power in Hawai‘i. The latest effort to bring the system into the 21st century stalled at this year’s Legislature. But changes are needed so agriculture can grow and flourish in the Islands.

Outdated Classifications Still Guide the Use of Hawai‘i’s Ag Lands

A

SERIES OF LAND CLASSIFICATION STUDIES COMPLETED OVER 50 YEARS AGO – based on

data organized before Hawai‘i became a state in 1959, including surveys from the 1930s – continue to influence the use of agricultural lands across the Hawaiian Islands.

State administrative rules, state laws and county ordinances still use the outdated land classifica40 | J U LY 2 0 2 5

tions to inform decisions about the siting of country clubs, farm dwellings, solar farms and even landfills.

Efforts to create new designations over the decades have failed.

A state report in 2024 warned, “These legacy classifications not only obscure the true potential of Hawai‘i’s lands but also complicate efforts to adapt to modern agricultural and land development needs, representing a dramatic

departure from the holistic resource management principles of the ahupua‘a system.” (tinyurl. com/hilandreport) The latest effort to reform the system failed to pass the state Legislature this year. According to some observers, one reason may be the issues are too abstract for some lawmakers. It’s naturally difficult to comprehend the relevance of a half-century-old study to Hawai‘i’s agricultural future.

BY PER RY AR R AS M I T H ARRASMITH IS A FREEL ANCE WRITER. RAISED ON O‘AHU, HE HOLDS A MASTER’S OF URBAN AND REGIONAL PL ANNING FROM UH MĀNOA .

THE HIGHEST AND BEST USE

THE USE OF SOLAR PANELS, GREENHOUSES AND OTHER MODERN PROJECTS ON AGRICULTURAL LAND CAN BE GUIDED BY DATA COLLECTED ALMOST A CENTURY AGO – WHEN SUGARCANE PLANTATIONS DOMINATED LOCAL FARMING – COMPLICATING EFFORTS TO ADAPT TO MODERN AGRICULTURAL AND LAND DEVELOPMENT NEEDS.

But numbers help explain why reform is so necessary. Of Hawai‘i’s total area of 4.11 million acres, approximately 47% is classified as agricultural – 1.93 million acres, according to the state’s Data Book.

Yet only 120,632 acres were actually farmed for crops in 2020, the latest year for which data is available.

Designated agricultural land is everywhere in Hawai‘i. This is why the saga of the Land Study Bureau is not only a tale of a defunct

government agency. It is the story of why the future of Hawai‘i’s agricultural sector is arrested by outdated metrics informed by a foreign past. Furthermore, it is a tale of what needs to be done to untether Hawai‘i’s future from an agricultural history that will never return.

Territorial Gov. Samuel P. King created the Land Study Bureau in 1957 to “develop, assemble, coordinate and interpret data on the characteristics and utilization of land throughout the Territory” to determine the highest and best uses of those lands.

The bureau’s five-point, alphabetical scale ranked “A” ag lands as the most productive, while “E” lands were considered least productive.

Preserving high-yield, economically productive ag lands was a critical piece of the bureau’s mandate.

“It is relatively easy to convert good agricultural land to urban areas but the process can seldom be reversed,” warned a 1959 LSB report (tinyurl.com/1959report).

While the bureau’s “Overall (Master) Productivity Rating” ranked lands ostensibly based on facts and data on topography, rainfall and soil surface texture, many designations involved subjective decisions. For instance, sites reliant on extensive irrigation were classified as receiving 100% rainfall, no matter the actual precipitation.

Tomotsu Sahara, an LSB specialist in land classification, explained the association between higher land value and greater water availability during a 1969 conference on land use issues at UH. “Where there is a moisture deficiency and irrigation water is not available,” Sahara explained, “the land types are rated lower than if adequate moisture were available. If to this land water were applied, it would be given a higher productivity rating.” (tinyurl.com/Irrigateland) Decades later, the designations remain, regardless of whether the irrigation systems are still being used or have fallen into disrepair or disuse.

H AWA I I B U S I N ES S | 41

“It’s a snapshot of a particular era’s irrigation,” explains Hunter Heaivilin, a local food systems planner who oversaw the drafting of the legislatively mandated report in 2024. Whether or not land was irrigated for sugar or left unirrigated (as was the case with pineapple) would have long-range consequences.

“The legacy of global market forces mediated through crop decisions and thus, irrigation, became enshrined in our policy for over half a century,” he says.

The nationally renowned planning firm Harland Bartholomew & Associates was hired to work with the Land Study Bureau; it produced recommendations in 1961 concerning implementation of the state’s land use law. (tinyurl.com/1959report) The law remains in effect, dividing the state’s lands into four critical zoning areas: (1) urban; (2) rural; (3) agricultural; and (4) conservation.

These zoning designations supersede county zoning authority.

The 2024 state report concluded, “Most remarkably, soil data collected in the 1930s, released in the 1950s, and incorporated into Land Study Bureau ratings in the 1960s continues to govern critical land use decisions – such as where solar energy projects will be established on agricultural lands in the 2030s.”

As plantations declined and agricultural trends shifted, the relevance of the Land Study Bureau’s reports came into question. But the LSB was closed before it could re-evaluate its methods: In 1973, the state budget effectively abolished the bureau, although the budget bill itself did not explicitly say why. Instead, it fell to House Standing Committee Report 732 to make a single note of the LSB’s deletion from the state budget, rationalizing that “this is what should be done when programs cease to be of high priority in terms of university or State needs.”

Meanwhile, then Gov. George Ariyoshi used LSB classifications to limit the “permissible uses” of agricultural lands in 1976. And 42 | J U LY 2 0 2 5

though their applicability to realworld debates over the future of agricultural lands are inadequate, the bureau’s classifications continue to influence land use decisions today.

HOW DID WE GET TO THIS POINT?

In the decades after the publication of the Land Study Bureau’s last findings in 1973, Hawai‘i’s political institutions struggled to create a universal classification system for managing agricultural lands.

The LSB’s thorough findings were supposed to inform a transparent process. “As many planners have discovered, however, the material is too academic in some respects and too difficult to apply in others to be useful as a guide for specific questions of conservation or development or for political administrative judgment between the two,” planner Thomas Creighton said in 1978.

Alternative systems of assessing agricultural land have been proposed. In 1977, the state Board of Agriculture adopted a broader, more expansive mechanism for designating “prime” agricultural lands.

In 1978, the Hawai‘i Constitutional Convention adopted an amendment to “conserve and protect agricultural lands, promote diversified agriculture, increase agricultural self-sufficiency and assure the availability of agriculturally suitable lands.” The Constitution mandated that the Legislature would be responsible for providing “standards and criteria” to accomplish these goals.

The Land Evaluation and Site Assessment Commission, established

by Ariyoshi in 1983, finalized the mechanics of a proposed system in 1986. Nevertheless, the Legislature refused to adopt the system, rendering the work worthless. It wasn’t until 2005 that a state law created the Important Agricultural Lands (IAL) designation. According to Earl Yamamoto, a planner with the Hawai‘i Department of Agriculture,

LSB data can influence the designation of IAL parcels by the State Land Use Commission.

Meanwhile, the LSB classification system continues to govern permissible uses on all state agricultural lands. As of 2024, permissible uses of agricultural lands have been expanded through amendments 25 times.

The LSB’s land classification process “was a one shot deal. It hadn’t been updated,” says Aaron Setogawa, acting branch chief of the state’s Land Use Division.

“There was no means to update the [LSB] system. There was no means to challenge or effectuate changes in it because it was just a study. It was a snapshot in time.”

Setogawa is a major proponent of the 2024 state report, the latest attempt to reform the LSB classification system.

The reform effort began with state Sen. Lorraine Inouye, a longtime advocate for farmers who represents Hilo, Pauka‘a, Pāpa‘ikou and Pepe‘ekeo on the east side of Hawai‘i Island. During the 2022 session, she introduced Senate Bill 2056, which formally pushed for an updated land classification system.

The bill passed and was signed into law as Act 189 by Gov. David Ige. So 50 years after the last LSB studies were furnished, the state Office of Planning and Sustainable Development was tasked with determining whether the studies were still relevant. As Setogawa coordinated the preparation of Act 189’s final report, these were the questions that he pondered: “What is the history?

How did we get to this point? What are ways to improve [the system]?”

Stakeholders like UH’s College of Tropical Agriculture and Human Resilience, the state Department of Agriculture, the Hawai‘i Farm Bureau, Hawai‘i Farmers Union United, and even the Hawai‘i State Energy Office supported the measure.

“Soil classification is no longer the determinant of land good for

“

MOST REMARKABLY, SOIL DATA COLLECTED IN THE 1930S, RELEASED IN THE 1950S, AND INCORPORATED INTO LAND STUDY BUREAU RATINGS IN THE 1960S CONTINUES TO GOVERN CRITICAL LAND USE DECISIONS.” – 2024 STATE REPORT

ductivity rating that is higher than another area, the availability or lack of irrigation water may encourage or constrain the actual productivities of the various sites. The degree to which these factors are captured [or not] in the current system deserves review.”

For two years after the passage of SB 2056, the Office of Planning and Sustainable Development met with stakeholders. Focus groups convened experts on technical legal matters, agriculture, land use, energy, development and large landownership across Hawai‘i’s four counties, with representation from the farming community, state and county government, nonprofits and others.

After over two years of community engagement, research and discussion, the Office of Planning and Sustainable Development presented its final report to the Legislature at the end of 2024. It recommended a new, uniform land classification system for all of Hawai‘i.

WHAT’S THE NEXT STEP?

agriculture,” explains Hawai‘i Farm Bureau Executive Director Brian Miyamoto. “Greenhouses, hydroponics, aquaculture and aquaponics are just a few of the many types of agriculture that can occur on all classes of land (A, B, C, D, E). Some of the best floriculture and hydroponic operations in Hawai‘i are on C, D, and E lands.” Some of these technologies and uses contrast starkly with agriculture in the 1950s and 1960s when the Land Study Bureau devised the classifications.

Solar farms are a prominent example. Beginning in 2008, solar farms were permitted on poorly rated agricultural lands. By 2011, legislation expanded solar’s reach to include higher-rated agricultural lands.

A study found that the land’s classification was still based on whether it had been irrigated for sugar or nonirrigated for pineapple. Scott Glenn, then the state’s chief energy officer, explained: “For example, although the soils in one area may have a pro-

At the Land Use Commission meeting of Jan. 22, 2025, Chair Dan Giovanni asked the key question, “What’s the next step?”

Gov. Josh Green’s administration pushed for the introduction of House Bill 1012 and Senate Bill 1331 as mechanisms to update the soil classification system. HB 1012 never received a hearing and SB 1331 only got one – from Inouye, chair of the Senate Committee on Water and Land. She described the legislation as “long overdue.” (tinyurl. com/1331hearing) Nevertheless, the bill did not pass. Observers say legislators’ lack of understanding about the issue was a major obstacle. “Confusion abounds,” says food systems planner Heaivilin.

“I think the nerdiness of the issue is literally underfoot, and the wonkiness of it makes it difficult to get public support.”

The report concludes, “The LSB model should be updated to

a dynamic, statewide system that retains the familiar LSB title and A to E output classes. By maintaining the familiar LSB framework while updating its underlying data and methodologies, disruption to existing policies and statutes can be minimized while significantly improving the accuracy and relevance of the system.”

The report also says the new framework must integrate historical and current land use practices. And the Legislature needs to authorize a routine review of existing maps and models. Once a new land classification system is set, state and county laws permeated with outdated classifications can be revised.

This work could bear serious consequences in future efforts to identify and designate IAL parcels across Hawai‘i. “The LSB, for now, and its successor, should be the foundation upon which future ‘conversations’ about [agricultural] land use begin from,” Yamamoto explains. “And this foundation should be as sound as the original LSB work.”

The U.S. Department of Agriculture’s Natural Resources Conservation Service was identified as a source of reliable data to replace older data. Since January 2025, however, the agency has faced staff reductions and threatened budget cuts.

Land classification systems, while intended to inform future decisions, far too often reflect the political frameworks of the past.

“It’s not really about soil types,” says Hugh Starr, a longtime agricultural land analyst, ranch consultant, agricultural real estate agent and ranch hand. “It’s about culture. It’s about half of our land being in the agricultural designation. We’ve created a social paradigm that’s got nothing to do with soil.

“We were placed in this paradigm by politicians in the ’60s throwing everything into the agricultural designation as though that was the wand of God and said, ‘This land is inviolate.’ ” H AWA I I B U S I N ES S | 43

44 | J U LY 2 0 2 5

BY S H EL BY M AT TO S

Worming Toward a Greener Future

The food scraps and leftovers you normally throw away can be turned into new soil or fertilizer and soil conditioner. You can compost at home or give it to others so they can do the composting. We explain why, how and where.

I

N HAWAI‘I, 20% OF OUR TRASH IS FOOD WASTE, ACCORDING TO THE ENVIRONMENTAL PROTECTION AGENCY. When dumped

in landfills, food rots and produces methane, a greenhouse gas that adds to climate change.

But thanks to bacteria, fungi and other microorganisms, composting turns food waste like coffee grounds, eggshells, and fruit and vegetable peels into nutrient-rich soil.

“It makes really great soil,” says Topher Dean, president of Recycle Hawaii. “We need to amend topsoil, especially after a century of sugar and pesticides and herbicides and bulldozers and things like that.”

Recycle Hawaii is a nonprofit based on Hawai‘i Island that focuses on minimizing waste. It oversees Malama Aina Compostables, a student-led group that has diverted over 11,000 pounds of cafeteria waste from the landfill and sent 665 pounds of food to food banks.

WORMS SPEED THINGS UP

The composting time needed to turn food waste into soil varies immensely depending on the food and the process used. Worms can shorten that significantly by producing vermicast in two to three months.

UH Mānoa’s College of Tropical Agriculture and Human Resilience says vermicast – the waste produced by worms – is like fertilizer and soil conditioner, and has been shown to increase plant growth and suppress pests and diseases in greenhouses and field soils.

In Hawai‘i, red worms and Indian blue worms are most commonly used for vermicomposting.

You can buy these composting worms on O‘ahu at Olomana Gardens in Waimānalo, Ewa Blue Worms in Makakilo and Oahu Worm Ohana in Mānoa.

Oahu Worm Ohana – supported by the College of Tropical Agricul-

H AWA I I B U S I N ES S | 45

MINDY JAFFE TEACHES WORKSHOPS, INCLUDING SUPPLIES, ON HOW TO USE COMPOSTING WORMS AT UH MĀNOA’S MAGOON RESEARCH AND INSTRUCTION STATION. AT RIGHT, WORKSHOP PARTICIPANTS LEARN FIRSTHAND HOW WORMS REDUCE FOOD WASTE AND CREATE SOIL FOR GROWING PLANTS.

ture – offers monthly workshops in Mānoa and Pearl City. Starter kits provided at the workshops cost $95 but otherwise the workshops are free. Learn more at wormohana.org.

Mindy Jaffe, nicknamed the “Waikīkī Worm Lady,” was one of the first people to introduce vermicomposting to Hawai‘i. She says that after learning about the process, she was unable to secure worms due to shipping restrictions – so she raised them herself at Petersons’ Upland Farm in Wahiawā.

Jaffe raised worms for 11 years at Petersons’ and sold them from her Waikīkī apartment and from her Waikiki Worm store. While she closed that business after more than 20 years, she continues to teach people how to use composting worms at UH Mānoa’s Magoon Research and Instruction Station at 2717 Woodlawn Drive in Mānoa.

She says she collects leftovers

City; the other is on the fourth Saturday at the Magoon research facility. At the workshops she teaches people how to compost and sells them predrilled 18-gallon bins, elevation bricks, cardboard, food collection boxes and worms, all for $95.

YOUR CHOICE: HOT OR COLD COMPOSTING

There are two ways of composting: hot and cold. If you are doing home gardening, cold composting is ideal.

It’s slower but takes less work and fewer materials. In a bin, add a layer of coconut fiber, pine shavings, or household celluloses like egg cartons or small pieces of soaked cardboard. Add the worms on top, put the food waste above the worms and top the bin with

z

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and food waste from the nearby elementary school and community and feeds her worms around 500 pounds of food waste a week.

In 2021, the Oahu Worm Ohana was born; since then, it’s collected 39,892 pounds of food waste and shared worms with 27 households on the island. Worm Ohana tracks food waste and vermicompost production and shares the data with the College of Tropical Agriculture.

“My unifying principle is always ‘waste is a resource,’” Jaffe says. “And if you see it as a resource, it’s an opportunity, and oh my God, there’s so much waste.

And I just see the opportunities here are absolutely endless.”

Jaffe says composting is easier and less smelly than most people expect. She hosts the monthly workshops: One is on the second Saturday of the month at the Urban Garden Center in Pearl

PHOTOS COURTESY: MINDY JAFFE MAGOON WORMERY

shredded paper. Newspaper, paper towels and shredded cardboard can be added but wax paper and glossy paper, like the kind that Hawaii Business Magazine is printed on, are not compostable.

Hot compost piles – which require regular turning – should be constructed all at once, in a 4-to-5-foot area. As the pile decomposes and shrinks, a 3-cubic-foot area underground is necessary to retain heat. These piles should reach temperatures between 110 and 160 degrees Fahrenheit, which helps kill most weed seeds and plant diseases. Farms and small businesses tend to use hot composting.

Passive composting is a style of cold composting that requires the piling of organic products, too, but without turning the pile. This method, which takes significantly longer, is prone to weeds and can attract pests.

Avoid adding citrus and pineapple waste to your compost bins – the excessive acidity can kill microorganisms and worms. Meat, fish, greasy foods, dairy products, papaya seeds, twigs, branches and animal feces are not recommended either.

A pilot program called the O‘ahu Compost Project collected food waste from eight businesses in Honolulu’s Chinatown from January 2023 to January 2024, which led to the creation of 39,537 pounds of compost. There’s no word yet on whether the program will be renewed.

Compost bins, which help maintain the right moisture and aeration, can cost $10 to $400.

They can be purchased online or from hardware stores. Worm Ohana explains how you can make your own at wormohana.org.

Kaua‘i County offers free compost bins at three locations: the Kaua‘i Resource Center, the Hanalei Initiative Creative Center and at ‘Āina Ho‘okupu o Kīlauea. The bins are available by appointment; email solidwaste@kauai.gov,

hanaleiinitiative@gmail.com or info@ainahookupuokilauea.org for information.

If composting takes too much of your space or time, you can give food scraps to Full Circle Farm in Waimānalo, Leftover Love Co. at farmers markets or Compost Kauai in Līhu‘e or Kīlauea.

The folks at Full Circle Farm, formerly called Green Rows Farm, use collected food scraps to create compost and to feed their chickens. Farm Manager Sean Anderson says they collect around 600 to 800 pounds of food waste daily from businesses, food banks and individuals around the island.

For $25 a month, Leftover Love gives you a 5-gallon bucket to fill with food leftovers. When you drop off a full bucket, you receive a gallon of compost in return. Since the group uses commercial grade composters, it accepts meat, fish, seafood and dairy – items not recommended for home composters.

In April, Leftover Love collected 2,004 pounds of food waste that would have otherwise ended in the landfill, Anderson says.

On Kaua‘i, Compost Kauai collects buckets of food waste directly from homes for $26 to $32 a month, depending on the pickup location. For the same price, you can drop your waste off at Compost Kauai locations in Līhu‘e, Kapa‘a and Kīlauea. The nonprofit sells 5-gallon bags of compost back to consumers for $21.

Learn about composting on Maui at westmauigreencycle.com.

Recycle Hawaii on Hawai‘i Island provides a composting fact sheet at tinyurl.com/ucompost.

Jaffe says she wants as many people as possible to compost their leftover food.

“I’m worming my way to their consciousness,” she jokes. “I work real hard every day, [as do] all my former staff members who also are doing this now. It’s miraculous, and it’s wonderful, and I just want it to keep happening. So, yeah, spread the worm.”

S

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SPECIAL PROMOTIONAL SECTION

TOP PERFORMERS in

REAL ESTATE 2025

Hawaii Business Magazine identified the leading real estate companies and invited them to submit their Top Performers. This section profiles many of these Top Performers in real estate. Consider these agents and companies when preparing to make your next real estate transaction.

Top Performers List P.52

Top Performers Profiles P.55

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H AWA I I B U S I N ES S | 51

2025

Top Performers in Real Estate List

ALOHA SOTHEBY’S INTERNATIONAL REALTY BRIAN AXELROD DIANDRA DICKINSON MACARTHUR & LAI GROUP DANIEL SKEHAN NICOLE VINCENT ALOHA SOTHEBY’S INTERNATIONAL REALTY DANETTE ANDREWS MARK GOODMAN KAUAI HOME GROUP ANDREA HEALEY JACQUELINE SHOCKLEY BERKSHIRE HATHAWAY HOMESERVICES HAWAI’I REALTY RACHEL BRADLEY GREG KERNER TEAM HAWAII REAL ESTATE REINE AH MOO & SHANNON K. SMITH LECTIE ALTMAN KIMMY BROOKE CAROLE KAILI DALY AMANDA MCCANN WALTER P. BELL III ETSUKO MORITA FIELDS DALE W. LEE TEAM WONG HAWAII SISI TAKAKI DONNA M. MAIER MARY M. BEDDOW LIANE M. FREITAS TEAM MAXEY RICK MAXEY & NANI MAXEY LA’A AND COMPANY KELLY LA’A & KAULANA LA’A LILA MARINO-CAMACHO SHARI LYONS GROUNDS JOELLE “JOEY” FOTI AYUMI KIM PUNAHELE CARNATE MAKI ETO JUDY HOPPEL DANIEL KAMADA TEAM DELACRUZ - MARIA E. DELACRUZ & JOHANNA ESTHER DELACRUZ SAMUELA TURNER SHERAL ANN GRAHAM JERRON ROBERTS ROSALINA L. OGITANI BETTER HOMES AND GARDENS REAL ESTATE MYRON KIRIU MATHEW NGO BRETT K. AKA 52 | J U LY 2 0 2 5

SPECIAL PROMOTIONAL SECTION

BETTER HOMES AND GARDENS REAL ESTATE NEIL KUIOKA DIANNE HO BOSWORTH JEFF CHAR MICHELLE NOUCHI OGATA JOSHUA MUN SAL GONZALEZ ROLANDA LI RACOMA ERIN CLAPPER MICHELLE BOSQUE ALAN BOLTON CHERIE ATTIX ETHAN B. RATHBUN BETTER HOMES AND GARDENS REAL ESTATE ISLAND LIFESTYLE - NORTH SHORE MEME MOODY MICHAEL PIEKLO NATHAN AMATORE TRISH KIM BETTER HOMES AND GARDENS REAL ESTATE ADVANTAGE REALTY - KAILUA SCOTT ADAMS RACHEL BARNETTE WENDY TENN GRACE M. KOREYASU STACY LOE PARIS LENA CHING AIPA MELYSSA MONTES SHIMAMOTO CHRISTINE KOGA DANIEL LEE KIM STACY PANG KEE BETTER HOMES AND GARDENS REAL ESTATE ADVANTAGE REALTY - WEST JOE CASTANEDA ASAKO NISHIKAWA DESMOND CURA BETTER HOMES AND GARDENS REAL ESTATE ADVANTAGE REALTY - KAKAAKO JAYMES SONG BETTER HOMES AND GARDENS REAL ESTATE ISLAND LIFESTYLE ANGEL WANNEMACHER EILEEN LACERTE DONNA J. BOWLES LESLEE A. DELANEY RENEE H. KRAFT GRETCHEN & BOBBY HARTTOWN STEPHEN L. KAZANJIAN TANYA KANGAS MA’ATA TUKUAFU DONALD F. WATSON

CARON B REALTY CARON B. DAVIS JESSICA WHITE CARVILL SOTHEBY’S INTERNATIONAL REALTY SCOTT CARVILL MAUREEN O’GUIN PATTY BELL KELLY ALLEN ERIC OLSON ANN CUSEO COLDWELL BANKER ISLAND PROPERTIES DEREK KAMM BRANDON C LAU SUSAN BOROCHOV ANDREW YD LEONG MAVIS KL NELLAS DAVILYN YROJO LINDA M. MCCABE DONNA MY BULSECO JOCELYN OKUDARA KIM SHIMONISHI MARY ANNE FITCH RAYMOND S CHIN DANO SAYLES NANCY J. CALLAHAN GARY J. MOOERS PATRICK FRANTA MAX BLAIR KENTO TANAKA-TAMAKI EVAN HARLOW ROGER R. PLESKI

ANNE ELIASON BRENDA S. CRAWFORD DANI DOOLEY ILONA COFFEY MICHAEL J. LIBERATORE DANIEL C. SCHMIDT KELLY LIBERATORE CHRIS COSCARELLA JOYCELYN A. VASCONCELLES CAROL W. SIMON HOWARD MEGURO SOPHIA A. YUNIS FRANK H. N. SCHENK LOVETTE LLANTOS MARCO A. SILVA KONA CARLA WOMACK JULIE A. EDENS ANNIE MARIE SUNDSETH RICK OLIVER REGAN K. MATSUMURA

COLDWELL BANKER REALTY TRACY ALLEN HOLDEN LAU

Top Performers in Real Estate List

SPECIAL PROMOTIONAL SECTION

COLDWELL BANKER REALTY DOUGLAS SHANEFIELD JOHN PETERSON TOMMY KIM DIANE O. ITO MINNA SNYDER KOA CASSADY DEBBIE SCHATZ ROBERT JENSEN GARCES TEAM MIKI AND JACKIE TEAM MIKIKO TERAHIRA LISA & MALIA TEAM MELINDA A. PINTER TEAM BRIAN LEE TEAM LUCIEN BREAULT JR COMPASS ALESIA BARNES TEAM ANNE HOGAN PERRY BEN FIEMAN CAREY GROUP JAMES CHAN JON YAMASATO MICHAEL SHOWER MICHAEL STYRING TEAM ORION BARELS YANO GROUP CHRISTOPHER BARCA DAVE FUTCH DEANNA DAVIS DEBBIE ARAKAKI DENNIS RUSH DIANA RODBOURN ERIC LITTLEJOHN JENNIFER EDWARDS JESSICA BAKER LESLIE-ANN YOKOUCHI BILLY ECKERT BRADY BEYERS HANNAH SIROIS HAUNANI SULLIVAN HEATHER FORD JIM KARLOVSKY PANCHO SULLIVAN SEAN AHEARN SUSAN HIGGINS CHELSEY TANOAI GABE WINKLER KAI IHO & EMIL KNYSH KELLY SHAW KRISTEN HANN KRISTINA VAUGHN-HAZARD MOLLY RUSSELL NATE GADDIS REBECCA KELIIHOOMALU TONY PINKERT

2025

The Top Performers CORCORAN PACIFIC PROPERTIES MARY LAVOIE STEPHEN CIPRES SASHA MASON HEIDI BERTUCCI BILL WARD YVONNE KHOURI-MORGAN ANNIE MENDOZA JON MCCUMSEY TRACY ABRAMS DON AUSTGEN KEVIN WALMSLEY

JEANNE DUNN LEWIS NGUYEN DONNA RICE TIM MIRA REBA ROY EQUITY HAWAII REAL ESTATE NICHOLE EHRBAR

EXP REALTY JOEL L. CAVASSO CHRISTOPHER O. TOLENTINO MARLENE K. SEDENO PATRICK J. LONGLEY LUCY L. SHEN PATRICK KAUANOE LUM CASSANDRA M. BORTON THOMAS TAY KUIRA K. PAO PEDRO GARCIA BRUCE WHALE ROHNAR R. BOYD MALIA K. POWERS DIANA HEGMANN KAREN L. AGUDONG JOANNA M. WHEELER STEVEN L. COLE RAYNA L. EVANS DONALD G. PIXLER JORDAN R. MCMURDIE PATTI KAM JUNIPER ADLER SONJA L. SCHMIDT TERRI A. WALKER DYLAN SHROPSHIRE LORI A. HENBEST LISA MARIE DELFIN JAELYN R. ROCKMAN ELIZABETH QUESENBERY KIM COBB-ADAMS STROUD

ISLAND KEY:

O‘AHU

MAUI

HAWAI‘I ISLAND

EXP REALTY BRUCE R. TRAVIS KEITH A. POWERS SCOTT CATTON CONSTANTINE MITTENDORF SIERRA L. CARRERE JESSICA K. JONES ROLAND SPRECHER CHRISTOPHER LAKE TOLL MARGARET C. CABALAR TIMOTHY E. HARTOG-HALL EXP REALTY (TEAM) THE AGENCY TEAM (DYLAN W. J. NONAKA) KAWAGUCHI GROUP (TONY KAWAGUCHI) HAWAII LUX HOMES (SHERINE M. DUNCAN) CORE TEAM HAWAII (DEREK A. OKAHASHI) TURNKEY GROUP (MATTHEW J. IANNACCIO) TEAM TAPARRA (JUSTIN K. TAPARRA) EPIC HAWAII HOMES (SARA M. MARTINEZ) HAROSKY HOMES (LORNALYN A. HAROSKY DEEPINREALESTATE TEAM (DEEP SHRESTHA) THE KOA TEAM HAWAII (VANINA NAKAOKA) FIVE STAR REALTY, INC. VINCENT LAO THOMPSON PHAM KY LAO IZZI CHAN RUTH MANZANO JAVIER QUOC HUYNH SUMMER XIE ASHLEY MONIZ BRIAN CHUA MILLY LIN FORWARD REALTY TREVOR BENN AARON CRAWFORD GREG ANDRASICK RYAN ODA SEAN MELTON HAWAI’I AMERICANA REALTY MARK G. HOWARD HAWAII LIFE NOEL SHAW CATHY POSSEDI JEANIE SCHMALTZ JULIE GARRIS

KAUA‘I *Names in BOLD are profiled in section H AWA I I B U S I N ES S | 53

2025

Top Performers in Real Estate List

HAWAII LIFE CINDY NASH JILL LAWRENCE JOELLE SEASHELL ERIK HINSHAW KUMU LOGAN-BLOMFIELD KIM SOARES DAVE RICHARDSON JOSH JERMAN LESLIE MACKENZIE SMITH DALE RICHARDSON TYLER MACARTHUR BRAD MACARTHUR TOM TEZAK JB GUARD ALANA RUCYNSKI LYDIA PEDRO CARRIE NICHOLSON STEVE HURWITZ JAKE CHANCER ERIKA STUART LINDA HUSSEY JIM ALLISON DENNI KEYES ZION NICHOLSON RENEE HILL NOELANI SPENCER

NEAL NORMAN BEN WELBORN TIFFANY SPENCER AMY FRAZIER LAUREN PINGREE LYNDA GILL AMY MARVIN JUDY SHIROMA DEANNA TULLY SHANA METSCH HUALALAI REALTY ROB KILDOW REGINA STUARD KU’UIPO VALENZUELA CHIEKO MADENOKOJI KELLER WILLIAMS HONOLULU CHARLENE TONGG / TONGG & PARTNERS ADRIENNE LALLY / TEAM LALLY ERIK TANIGUCHI KINA KNISLEY DANIEL IHARA SHANNON FELICIANO JR JERRY ADAMANY SEAN SONODA ROLAND FILIPIAK DAVID CORDEIRO

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KELLER WILLIAMS REALTY MAUI SARA FOX & ASSOCIATES (SARA FOX) THE 808 TEAM (TODD HUDSON) ALOHA GROUP MAUI (LEE POTTS) THE MAUI LIFE (JC CICCHINO) LARA SCHOEPPNER MARIANNE VIERNES BONNIE MCCRYSTAL MIRANDA WATSON MATTHEW TALBOT MAUI LUXURY REAL ESTATE TEAM: ANN WILLIAMS, DAVID BARCA, GINA PAROLA, KATIE ZIMMERMAN, SUSAN DELORIA KELLER WILLIAMS BIG ISLAND CHIAKI YAMADA LEIOLA AUGUSTINE DAN POLIMINO SAMUEL SCHAUS BRENDAN ALCISTO JENNIFER RICE BRODIE CALLENDER BHERIN BROWN LINDA WILLIAMS JANA MAHONEY

KNUTSON & ASSOCIATES LAKE KESSNER KOI HAWAII REALTY WILL TANAKA, J.D. & LEONIE LAM KONA RESORT PROPERTIES SUZANNE PATTERSON

LIST SOTHEBY’S INTERNATIONAL REALTY ESTHER PARK KUSUNOKI SCOTT STARTSMAN HEATHER SELVITELLE DREW READ HATSUMI CAMPBELL SEIKO ONO MARI HIRANO AILEEN RODRIGUEZ-CHIZER JEFFREY PECK INTERNATIONAL TEAM ALINA SPATARIU LOCATIONS HAWAII STEPHANIE L CHAN BONNIE WALKER DOLLCY D. GEBAUER DIMANA N. UZUNOVA JOHN QUINDARA ANINA M. QUARANTO THA H. SMITH ANGELA HIROKO BRENNA

LOCATIONS HAWAII CANNIE CHUM RINA SHINAGAWA MAUI LUXURY REAL ESTATE LLC CLINT HANSEN BOB HANSEN CAROL RUSSELL MICHAEL SCOTT BARAN VELVA RIBBLE-PADGETT OAHURE.COM BRYN KAUFMAN WANIDA TIENCHAI RE/MAX HONOLULU JOHANA ALLISON MIN YONG DANNY KIM SHANNON SEVERENCE PERRY KUNISHIGE THERESA COUTANT CHRIS FIDELIBUS ROBERTA WAKISAKA- FELLEZS DAVID LI RE/MAX KAUAI YVONNE SUMMERFIELD KYMRY PEREZ ISAAC FIERRO SAVIO REALTY LTD ALBERT KURISU CELEDONIA QUERIDO ERMINIA CARACCIOLO KEISHA JOHNSON C. KAPONO PA LISA ROACH

SUE BROWN REALTY & ASSOCIATES SUE BROWN HILARY BROWN TIM BROWN ISLAND KEY:

O‘AHU MAUI HAWAI‘I ISLAND KAUA‘I *Names in BOLD are profiled in section

SPECIAL PROMOTIONAL SECTION

O‘ahu

Top Performers in Real Estate

2O25

Berkshire Hathaway Homeservices Hawaii Realty

TOP PERFORMER O‘ahu 2025

Donna Maier

D

Realtor® #RB-21315

onna was born and raised on the beautiful Windward side of Oahu. She comes from a long line of entrepreneurs and self-starters; her Grandmother founded Ed & Don’s Candies & Ice Cream, a gourmet chocolate confections brand.

She is honored to be a Hawaii Business Magazine Top Performer and appreciates her clients, friends & family that got her here, thank you! Donna is celebrating 25 years in residential sales and works diligently to serve her clients’ best interests. Her attention to detail, problem solving, negotiation skills, market knowledge and her communication skills of being direct and easy to talk with all serve her well in dealing with a variety of clientele.

Donna was recruited as a Founding Member of Berkshire Hathaway HomeServices Hawaii Realty, an honor she is very proud of that represents strength, integrity and respect. She has been a consistent Top Producer throughout her career and is currently in the Top 500 on Oahu and the Top 5% of the Berkshire Hathaway network. Please contact Donna to see how she can best serve you with your real estate needs.

“I am an attorney with 25 years of experience in the real estate industry and I have never worked with a real estate agent as thorough and responsive as Donna Maier. She effectively communicated with the buyer and the seller to find common ground to get the deal done. She also had the innate ability to understand what was important to both parties,

without disclosing any confidence and bringing the parties together. Donna also added tremendous value by giving both parties referrals to reliable & reputable professionals. She really set herself apart from everyone else after the close of escrow by making herself available to meet with contractors & vendors at the property since we do not live on the island.

Without a doubt, she is the #1 real estate agent in Hawaii in my opinion and I highly recommend her if you want to buy or sell a house in Hawaii.”

“The location was perfect, we had multiple offers, but where you excelled was working through a very difficult divorce situation. My ex-husband did not want to sell, he made things extremely difficult for both of us while I was relocated on the mainland. Your finesse & professionalism working through the difficulties of his resistance was in my mind unsurpassed.

I cannot thank you enough for your patience and persistence in getting to the finish line. Without your ability to deal with a hostile environment I don’t think the deal would have gone through. Your ability to calm the waters when resistance was high on both sides, providing insight, support and knowledge.

You went over and above the job description of “realtor.” I can’t thank you enough for the days and nights you spent making sure every aspect of our house & the legal obligations were attended to. Bravo, you did not earn enough and I know the only reason you hung in there was because you cared. You have won and earned my respect along with my friendship and lifelong loyalty.”

DonnaM@bhhshawaii.com (808) 227-4799 46 Hoolai Street, Suite D Kailua, HI 96734

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Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Berkshire Hathaway HomeServices Hawai’i Realty

TOP PERFORMER O‘ahu 2025

Sisi Maw Takaki RB-21987 | REALTOR®, MBA

S

isi Takaki has been a respected member of Hawai‘i’s business community for over 20 years, with close to fifteen years devoted to Hawai‘i’s luxury residential real estate market.

A licensed Realtor® and award-winning top producer, she is known for her strategic expertise and extensive network—ranging from early-career clients she met during her first internship to leaders in exclusive organizations like YPO and faith-based communities such as Ground Higher.

While she specializes in high-end properties, Sisi’s first priority is cultivating genuine connection and trust. The true fulfillment in her work comes not from the size of a transaction but from the heart posture of the relationships she builds. Her client-first approach is deeply personal, rooted in strong integrity and advocating for her clients. She acknowledges that her values-driven mindset may not align with everyone—but believes firmly that success is found in alignment of values, not wallets.

With an MBA and a background in telecommunications and tech, Sisi brings business acumen, negotiation skill, and market insight to every deal. She’s also a Certified Mediator, known for handling complex transactions with clarity, calm, and discretion.

Recently honored with the Chairman’s Circle Gold Award, she ranks in the top 2% of 45,000+ Berkshire Hathaway agents worldwide.

Beyond real estate, Sisi is a proud mother of two teenage sons and an active leader in youth mentorship and faith-based service. Her life and work reflect a commitment to excellence, purpose, and honoring every client with respect and authenticity.

Berkshire Hathaway HomeServices Hawai’i Realty 46 Hoolai St #D, Kailua, HI 96734 Cell 808.799-8800 | SMS: 808.753-7151 1 Corinthians 10:31 www.SisiTakaki-Realty.com

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O‘ahu

Top Performers in Real Estate

2O25

Better Homes and Gardens Real Estate Advantage Realty

TOP PERFORMER O‘ahu 2025

Myron Kiriu Realtor®, CEO, Owner, RB-17242

M

yron Kiriu has over 35 years of Hawai‘i real estate experience and is consistently one of the top agents in the state.

Having successfully closed over 2,550 transactions, Myron works diligently with a “client-first” approach to real estate. He utilizes a very talented team of real estate professionals and the latest technology to effectively service each of his clients based on their unique needs.

He is honored to be included among Hawaii Business Magazine’s Top Performers this year and for the past five years. Myron is also a 12-year recipient of the Top 100 Realtor award; he received the Better Homes and Gardens Real Estate® (BHGRE) award for #1 Team in the Nation; was named #1 Realtor on O‘ahu by Hawaii Business Magazine; and was voted one of “Hawaii’s Best” Realtors for 9 years by Honolulu Star-Advertiser readers.

A UC Berkeley alumnus and former CPA with KPMG Peat Marwick (Honolulu) and PriceWaterhouse/Coopers (San Francisco), Myron brings a wealth of experience and keen financial insight to every transaction.

As owners, Myron and Ambur Kiriu have led the company for the past 20+ years, and the firm has consistently received a host of accolades: It has been recognized as one of Hawai‘i’s “Best Places to Work”

by Hawaii Business Magazine; voted one of “Hawaii’s Best” Real Estate Firms for 14 years by Honolulu Star-

Advertiser readers; voted “Best of Honolulu” Real Estate Firm for 13 years by Honolulu Magazine readers; and voted one of “Hawaii’s Most Charitable Companies” for 10 years by Hawaii Business Magazine.

Myron and Ambur are very excited to announce a new chapter for the company in Fall 2025, and they are grateful for your continued support as they embark on this next endeavor.

“I’d like to give a great big mahalo to our amazing clients for their trust in us and for allowing us to be part of their lives. Our commitment to our clients goes back over 35 years. Ambur and I had a vision to create a company that placed our clients’ interests as its top priority and have carefully built a team and company that have the same heart and shared values. We’d like to thank and share this honor with our company. To our fellow agents, thank you for working with us as we all strive to make our clients’ dreams come true. As always, I want to give a special thank you to my wife Ambur, who has been a constant source of love and support to me. Without Ambur, none of this would be possible.” – MYRON

Better Homes and Gardens Real Estate Advantage Realty Kahala Mall, Upper Level 4211 Waialae Ave., Box 9050, Honolulu, HI 96816 (808) 864-9000 | myronk@betterhawaii.com MyronKiriu.com

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Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Better Homes and Gardens Advantage Realty

TOP PERFORMER O‘ahu 2025

Brett K. Aka RS-75473

B

rett is a dedicated Real Estate Agent, with a unique approach to real estate. As a former Manager in the Honolulu Advisory Services practice at Ernst & Young, he has the strategic negotiation skills necessary to set him apart in the industry. His “advisory over sales” approach focuses on deep market analysis and truly putting his clients’ best interest in mind. He understands how technical real estate in Hawai‘i can be and is passionate about managing risk through engagement with other professionals (i.e. geotechnical engineers, attorneys, subject matter experts, etc.). He strongly believes that technology will continue to change the real estate industry and is passionate about implementing innovative marketing strategies to leverage this.

Brett and his team have consistently ranked as top performers in Hawai‘i, which includes ranking as a high producer in the nationwide Better Homes & Gardens Real Estate national network. However, Brett is most proud of his client service awards.

He has been awarded Honolulu Magazine’s Best in Real Estate for over 10 years, which is based on personal recommendations for customer service and satisfaction. Additionally, he is the winner of the

Honolulu Board of Realtors Aloha ‘Aina REALTOR® Winner, which is awarded to REALTORS who have gone above and beyond in service to their clients and who maintain the highest ethical standards.

Finally, Brett is a proud community supporter as an Aloha United Way (AUW) Society of Young Leader’s Board Member, former AUW Board Member, Advantage Kokua Scholarship Board Member, and Child & Family Service Guild Member. During his free time, Brett enjoys spending time with family, hiking, paddling, trying new restaurants, watching rugby, and traveling.

Aloha! I can’t express enough gratitude to my family, friends, and clients for their continued trust and support!

I’m inspired that people appreciate an “advisory over sales” approach and am passionate about helping families talk about their longer terms goals and plans for real estate.

I feel blessed that this industry has allowed me to have so many meaningful conversations and build long-term relationships. I’d also like to acknowledge all of the support from my BHGRE Advantage Realty Ohana. We are truly trying to push real estate to the next level! –BRETT

Better Homes and Gardens Advantage Realty (808) 753-3923 | bretta@betterhawaii.com akahomeshawaii.com @brett— aka Brett K. Aka, Oahu Real Estate

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Better Homes and Gardens Real Estate Advantage Realty West

TOP PERFORMER O‘ahu 2025

O‘ahu

Top Performers in Real Estate

2O25

Desmond Cura R (S)-84873

D

esmond “Dez” Cura is a dedicated Realtor® with Better Homes and Gardens Real Estate Advantage Realty West, committed to helping O‘ahu families achieve their homeownership dreams. Raised on Guam and now residing in Ewa Beach, Dez combines local insight with a client-first approach, ensuring each transaction is handled with care and transparency. His background includes 20 years of service in the U.S. Coast Guard, instilling in him a strong sense of integrity and commitment.

Clients appreciate Dez’s responsiveness and ability to navigate the complexities of the real estate market. One client noted, “Dez made us feel like we were his only client. He handled everything while we were off-island, negotiated closing credits, and even helped us move in.”

Outside of real estate, Dez enjoys spending time with his wife and two sons, stand-up paddleboarding, mountain biking, and golfing on the west side.

Better Homes & Gardens Advantage Realty

TOP PERFORMER O‘ahu 2025

Better Homes and Gardens Real Estate Advantage Realty West 808-679-5276 DesmondC@betterhawaii.com DesmondCura.com

Rolanda Li Racoma RB-24177

R

olanda Li Racoma is a top-performing REALTOR® with Better Homes and Gardens Real Estate Advantage Realty.

Her journey began with her father’s love for real estate, who taught her the importance of ownership—especially in Hawai‘i, where land is both valuable and deeply rooted in family legacy.

With over a decade of experience, Rolanda is known for her market knowledge, integrity, and exceptional client care. She leads Team Racoma alongside her sons, Aina and Hanu Racoma, both licensed REALTOR® associates. Together, they form a multigenerational team serving clients across O‘ahu. Fluent in English and Cantonese, Rolanda guides clients through transactions with clarity and compassion—grounded in trust, communication, and a deep love for Hawaii’s real estate.

4211 Waialae Ave #9050, Honolulu, HI 96816 (808)738-3600 rolandar@betterhawaii.com

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2025

Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Better Homes and Gardens Advantage Realty

TOP PERFORMER O‘ahu 2025

Grace Koreyasu BROKER-IN-CHARGE, BETTER HOMES AND GARDENS ADVANTAGE REALTY, KAILUA OFFICE RB-16489

A

longtime Windward O‘ahu resident, Grace Koreyasu is a seasoned real estate professional with over 34 years of experience guiding clients through Hawai‘i’s dynamic market. A graduate of Castle High School, she studied Sales and Marketing at the University of Hawai‘i’s Kapi‘olani and Leeward Community Colleges. Fluent in Japanese, Grace brings a global perspective and a strong background in travel, hospitality, and customer service to her real estate career.

Licensed since 1990 and a Broker since 1994, Grace has built a reputation for excellence, professionalism, and results. Before joining Better Homes and Gardens Advantage Realty, she was a nationally and locally recognized, award-winning agent at Locations (formerly Prudential Locations). She holds advanced industry designations including Certified Residential Specialist (CRS) and Senior Real Estate Specialist (SRES), reflecting her ongoing commitment to education and top-tier service.

Grace is also a respected leader in the real estate community. Since 2001, she has served on the Honolulu Board of Realtors’ Professional Standards and Grievance Committees and currently sits on the Board of Directors. As one of the Brokers-in-Charge at the Kailua office, she actively mentors agents and teaches contract classes to support their professional growth.

To Grace, real estate is more than a career, it’s a lifestyle built on trust, relationships, and deep knowledge of the local community.

Whether you’re a first-time buyer, seasoned investor, or looking to sell, Grace is your trusted advisor every step of the way.

Grace M. Koreyasu (R) BIC (808) 384-1875 gracek@betterhawaii.com

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SPECIAL PROMOTIONAL SECTION

Better Homes and Gardens Real Estate Advantage Realty

TOP PERFORMER O‘ahu 2025

O‘ahu

Top Performers in Real Estate

2O25

Mathew Ngo REALTOR-BROKER® RB-20704

M

athew Ngo focuses on building long term relationships with his clients. Ensuring that all Mathew’s clients receive his personal touch in every transaction is of the utmost importance.

Mathew communicates with his clients on a regular basis and updates them on all facets of his work for them.

Mathew knows Honolulu, and surrounding neighborhoods, and familiarizes himself with the fast changing marketplace and provides the latest technologies to promote his sales locally, on the mainland and globally. Mathew’s focus is purely on the client’s needs and wants, and he delivers with the utmost precision. His unique ability to listen and understand your needs and desire, and even fears, is why Mathew is proving to be one of the most valuable agents on Oahu.

Better Homes and Gardens Real Estate Advantage Realty (808) 222-7183 Mathew@MathewNgo.com www.MathewNgo.com

Jason Carey Compass Hawaii

Founding Agent | Compass Hawaii

TOP PERFORMER

Ranked in top 1.5% of Agents Nationally by Wall Street Journal

O‘ahu 2025

Top 100 Realtor in Hawaii

RS-76292

A

s a Founding Agent of Compass Hawaii, Jason Carey has steadily earned a reputation as a top-producing Real Estate agent in the luxury lifestyle sector. Jason has continuously built his business by forming lasting relationships with his clients through impeccable service, extensive market knowledge, and uncompromising client standards. As a top-producing real estate agent over the last 16 years, Jason has earned a reputation of professionalism and integrity, working with high-profile clientele worldwide.

A trusted expert in the Hawaii luxury residential market, Jason has closed $500+ million in real estate transactions, offering stunning properties in cherished locales. His success is a direct result of his commitment to client advocacy, transparency, and a heart-felt dedication to make each one of his clients a top priority. Jason communicates with empathy and expertise, ensuring his clients feel supported at every step of the transaction.

Jason is a native to California in South Orange County and has lived in Hawaii for the past 17 years. An avid surfer, waterman, and passionate family man, Jason utilizes his unique knowledge of Hawaii’s beachside communities to help his clients find their dream home. Combined with Compass’ industry-leading tools and programs, Jason elevates the agent-client experience, providing the ultimate client satisfaction.

Jason is a proud supporter of Waves of Impact.

808.679.1698 jason.carey@compass.com careyluxury.com

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2025

Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Coldwell Banker Realty

TOP PERFORMER O‘ahu 2025

Tracy Allen Tracy Allen Vice President, Realtor, RS-46610 #1 Agent Hawaii, #6 Agent Nationwide, Coldwell Banker Realty

When you’re buying, she brings focus and strategy.

Tracy has access to homes that never hit the public market and a network that opens doors. She listens closely, communicates clearly, and stays with you through every part of the process.

If you want experience that pays off and a partner you can trust, Tracy Allen is the one to call.

TRACY ALLEN KNOWS LUXURY REAL ESTATE.

W

ith more than 35 years of experience, she’s helped hundreds of clients navigate the market with confidence. She’s the number one individual agent in Hawaii and ranks sixth in the country for Coldwell Banker Realty. Her results come from experience, instinct, and a deep understanding of what drives decisions at the high end.

That kind of success doesn’t happen by accident. Tracy holds countless records for achieving record breaking sales in the state. She’s also the only Coldwell Banker Realty agent in Hawaii to earn the Society of Excellence award eight times, a recognition given to fewer than one percent of agents across the nation. As a Global Luxury Ambassador and Certified Global Luxury Property Specialist, she brings her clients access, insight, and reach that few others can offer.

When you’re selling, Tracy brings the full package. She helps you price strategically, times the launch for maximum interest, and knows how to present your home so it shows at its best. From staging and design to marketing and negotiation, every move is backed by data and tailored to your goals.

Just Listed! The Crown Jewel of Kahala! 4505 Kahala Avenue | 6 Bedroom | 6 Full + 2 Half Bath | $45,000,000 FS

(808) 927-6415 I Tracy@TracyAllenHawaii.com www.TracyAllenHawaii.com

2023

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Coldwell Banker Realty 1585 Kapiolani Blvd, Suite 1010 Honolulu, HI. 96814

SPECIAL PROMOTIONAL SECTION

O‘ahu

Top Performers in Real Estate

2O25

Lisa & Malia Coldwell Banker Realty

LisaAndMalia.com

TOP PERFORMER O‘ahu 2025

I

n Oahu’s real estate world, Lisa & Malia stand out, not just for their impressive track record, but for their genuine passion for helping clients achieve their dreams. They have earned themselves the affectionate nickname “The Dynamic Duo,” a testament to the synergy and enthusiasm they bring to every transaction. Consistently ranked in the Top 1-4% Worldwide of Coldwell Banker agents, they have over 35 years of combined experience that speaks volumes about their dedication and expertise.

Lisa and Malia are more than just REALTORS®; they’re savvy strategists and dedicated advocates for their clients. Malia brings 15 years of experience practicing law, while Lisa offers valuable insight from her background in residential home construction and selling internationally, including a Scottish castle.

Their approach is rooted in a deep understanding of the local market coupled with an international reach, allowing them to stay one step ahead of trends and opportunities. Whether navigating the intricacies of a sale or guiding clients in finding their dream home, they prioritize creating a successful and tailored experience that aligns with their clients’ unique goals and lifestyles.

Lisa & Malia are committed to making every client feel truly valued and understood, ensuring that the experience of buying or selling a property is as enjoyable as it is rewarding. With their client centered approach and proven results, clients and fellow agents rave about working with Lisa & Malia.

www.LisaAndMalia.com

Lisa Haeringer, RB Malia Kakos, J.D. ABR, CIPS, CRS Luxury Property Specialist Luxury Property Specialist International President’s Circle International President’s Circle Top 4% of Coldwell Banker Agents Worldwide Top 4% of Coldwell Banker Agents Worldwide MaliaK@CBRealty.com LisaH@CBRealty.com 808-741-8292 808-927-7177 RS-74485 RB-20517 4211 Waialae Avenue, Suite 9000 Honolulu, HI 96816

AREAA A-LIST 2021-2023 TOP PRODUCER AND AMERICA’S BEST 2021.

H AWA I I B U S I N ES S | 63

“SO MUCH RESPONSIBILIT Y, SO LIT TLE TR AINING – UNTIL NOW”

The Hawai‘i Leadership Academy provides senior leaders with the fast-track, high-impact program they need to elevate their skills. Prepare for increased responsibility in just five weeks.

The Hawai‘i Leadership Academy is an exclusive program designed for Hawai‘i’s leaders who are ready to develop and expand their executive skill sets. Tailored for director-level professionals and above, from all industries across the state, this academy offers strategic leadership growth, professional development, intentional networking, and direct exposure to Hawai‘i’s top leaders. We are excited to launch our inaugural cohort in Fall 2025.

Hawai‘i Leadership Academy:

Participants will benefit from:

• Consists of five immersive Friday sessions from September 12 – October 10, 2025.

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

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

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

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

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

• Personal and professional development by harnessing their innate leadership strengths.

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

F O R M O R E I N F O R M AT I O N O R T O S U B M I T A N A P P L I C AT I O N, V I S I T H E C O U N C I L . O R G / L E A D E R S H I PA C A D E M Y 2 0 2 5 SUPPORTING SPONSORS

THE HA WA I‘ I LEA DERSHI P ACA D E MY I S A PA RTNE RSH I P B E T W E E N T H E H A WA I I E M P LOY E R S CO UN C I L A N D H A WA I I B U SI N E SS M AG A Z INE .

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O‘ahu

Top Performers in Real Estate

2O25

PHOTO: AARON YOSHINO

SPECIAL PROMOTIONAL SECTION

eXp Realty

TOP PERFORMER O‘ahu 2025

Kuira Pao RS-80473

M

ahalo Hawaii Business Magazine for acknowledging my achievements as a Top Performer in 2025. This recognition is a significant honor and serves as a testament to the dedication and hard work I have invested in my career.

My journey in real estate over the last 13 years has been marked by continuous growth and specialization. This path has been characterized by a dedication to hands-on education and skill development, allowing me to provide exceptional service in my niche of new construction and development. By positioning myself as a leader in this field, I ensure that my clients receive the highest level of service and insight. My resources offer unparalleled expertise and guidance to my clients, fostering trust and long-lasting relationships. I am deeply grateful for the support and recognition I have received and look forward to guiding you with your real estate goals.

eXp Realty www.makehawaiiyourhome.com 808-348-4834 6600 Kalanianaole Hwy Suite #114 Honolulu, HI 96825.

H AWA I I B U S I N ES S | 65

2025

Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Five Star Realty, Inc.

TOP PERFORMER O‘ahu 2025

Ruth Manzano Javier Realtor® RS-74535

BUILDING WEALTH, ONE FAMILY AT A TIME

I

n a market challenged by rising interest rates and increasing home prices, Ruth continues to thrive—not by focusing on sales volume or quotas, but by prioritizing people. With over 13 years of experience in Hawaii real estate, Ruth has built her business around one core value: serving each family with care, no matter the size of the transaction.

“It’s always been about each family,” Ruth shares.

“Every client has a story, and my job is to understand their needs and help them move closer to their dreams.”

Whether helping a first-time buyer or managing a complex investment deal, Ruth brings the same level of dedication, attention, and integrity to every client. She remains committed long after closing, staying in touch, offering guidance, and celebrating her clients’ successes as they grow.

Ruth is especially passionate about helping families who once believed homeownership in Hawaii was out of reach. Through education, strategic planning, and her signature hands-on approach, she’s helped many firstgeneration buyers not only purchase their first homes but go on to grow impressive real estate portfolios— something they once thought impossible.

“My mission is to show families—especially in the Filipino community—that they can build wealth through real estate,” Ruth says. “Even if they start small, the important thing is to start. And I’m here to walk with them every step of the way.”

Ruth’s story is one of purpose, passion, and perseverance. As she looks ahead, her goal remains clear: to continue helping families build generational wealth through real estate—one family at a time.

Accolades • Aloha ‘Aina Realtors® Award Nominee 2016, 2017, 2018 & 2021 • International Diamond Society Awardee - 2016 • International President’s Circle Award Winner 2017 • International President’s Premier Award Winner 2018 • International President’s Premier Award Winner 2019 • Hawaii in America’s Best Real Estate Professionals in Hawaii 2020 & 2021 • Five Star Realty, Inc. Top Producer by Volume & Transaction 2022, 2023, 2024 • AREAA A-List 2021, 2022, 2023 & 2024 Top Producers

Ruth Manzano Javier, RS-74535 Five Star Realty, Inc. 1500 S. King Street Suite 200 Honolulu, HI 96826 808-753-7211 | ruth@ruthsells.homes

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SPECIAL PROMOTIONAL SECTION

O‘ahu

Top Performers in Real Estate

2O25

Hawai‘i Life

TOP PERFORMER O‘ahu 2025

Julianna Garris REALTOR, CLHMS, CRS, Broker-in-Charge; RB-17280

J

ulianna Garris is a respected O‘ahu market expert with over 30 years of real estate experience and 43 years of island living. She has successfully represented more than 500 home sales across O‘ahu’s most desirable communities. From navigating market shifts to understanding the nuances of micro-market values, Julianna approaches every transaction with care, insight, and genuine commitment.

Raised in an environment surrounded by frequent construction and design changes, real estate was a natural fit. Over a dozen personal experiences in construction and renovations sets her apart, giving her unique and valuable insight into the interconnected aspects of a home and how it’s built.

Enduring bonds with clients and friends form the heart and soul of Julianna’s business in Hawaii, bolstered by honesty, gratitude, and an intuitive grasp on market intricacies. She is incredibly grateful for the opportunity to have served hundreds of sellers and buyers with their real estate needs.

Anyone who knows success understands that it isn’t something you accomplish on your own.

Julianna is incredibly appreciative of the amazing agents, Hawaii Life and Choi Group staff, trades people, escrow companies and other professionals that have made an impact on both her career and her life. “Collectively we are a team and I thank all of you for imparting your knowledge, expertise, and humor over the past three decades.”

“Thank you so much for your diligence and perseverance in finding a home that Mike and Kat are very happy with and provides us a place to spend some time with them. You have been awesome through this process. We consider you a dear friend who stuck with us through this long arduous process. We hope to continue meeting with you on our trips to Hawaii.” –LARRY & CINDY KINNEY “Just as Michelangelo could see through the exterior of his marble blocks to find the hidden masterpiece, Julianna possesses that same x-ray vision in viewing properties.”

–ROBERT C. KLAPPER, M.D.

The Choi Group with Hawai‘i Life julie@garrishawaii.com (808) 255-7143 | www.Choi.HawaiiLife.com

H AWA I I B U S I N ES S | 67

2025

Top Performers in Real Estate

Hawai‘i Life

TOP PERFORMER O‘ahu 2025

O‘ahu

SPECIAL PROMOTIONAL SECTION

Jill Lawrence RA-76144

J

ill Lawrence is an Oahu residential Real Estate specialist and Luxury Asset Manager.

Living and working in Haleiwa for the past 20 years, Jill understands the Oahu town and country lifestyle well. Experienced in luxury beachfront vacation property management and sales, Jill brings with her an extensive knowledge of Oahu beachfront inventory and a history of strong client relationships. In today’s complex Hawaii real estate market that requires knowledge around land use, ever-changing vacation rental laws, shoreline concerns, and estate management, Jill can help guide you every step of the way.

On her off time, Jill enjoys spending time with her two lovely daughters, surfing, playing and hiking all over the beautiful landscape that is Oahu’s North Shore. Start working with Jill Lawrence today at www.nsluxuryliving.com.

Hawai‘i Life

TOP PERFORMER O‘ahu 2025

FULL SERVICE|SALES|LUXURY ASSET MANAGEMENT C: 808-206-0539 E-mail: Jilllawrence@Hawaiilife.com Web: www.nsluxuryliving.com Hawai’i Life Haleiwa Office: 62-594 Kamehameha Hwy #2 Haleiwa, HI 96712

Cathy Possedi Realtor-Broker, ABR, CRS, MRP, RENE, RSPS, SFR, SRS, RB-20410

B

orn and raised on O‘ahu, with nearly two decades of experience in real estate, I’ve had the privilege of helping hundreds of clients navigate Hawai‘i’s dynamic market, from first-time buyers and sellers to seasoned investors. Whether it’s a first home, a forever home, or an investment property, my goal is to always make the process smooth and stress-free. My approach is rooted in local knowledge, clear communication, and genuine care for each client’s unique journey. Real estate for me is more than just transactions — it’s about community, legacy, and helping people find their “home” in this special place. I strive for being a trusted advisor every step of the way, and that relationship doesn’t end at closing.

Recognition has never been the goal, but I’m deeply grateful for the many referrals, positive reviews, and repeat clients that have allowed me to build a meaningful career doing what I love.

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Hawaii Life Real Estate Brokers 808-728-5696 Cathy@HawaiiLife.com CathyPossedi.Realtor

SPECIAL PROMOTIONAL SECTION

O‘ahu

Top Performers in Real Estate

2O25

Hawai‘i Life

TOP PERFORMER O‘ahu 2025

Noël Pietsch Shaw MBA, S. Realtor-Associate, RS-75888

T

hank you, Hawai‘i Business Magazine, for this incredible honor.

I’m deeply humbled to be recognized among the top real estate professionals in the state.

This recognition reflects the trust my clients place in me, the strength and support of the Hawai‘i Life network, and the continued evolution of Honolulu’s luxury market—a market that consistently sets new benchmarks, even in the face of global uncertainty.

As we reflect on 2024, O‘ahu’s luxury real estate market remains exceptionally strong. Limited inventory of highquality single-family homes and luxury condominiums continues to drive demand. For discerning buyers, offmarket opportunities and thoughtfully executed new builds or renovations have become essential pathways to success.

Our results are grounded in a strategic, technologyforward approach, paired with deep local insight and relationships built over years of dedicated service. I’m honored to have been ranked the #3 agent in the state by individual sales volume, and to have represented clients in the two highest-priced residential sales in O‘ahu’s history—a testament to what’s possible with vision, trust, and teamwork.

It’s a true privilege to serve in this remarkable market.

I remain committed to helping clients navigate their real estate journeys with care, expertise, and integrity.

FOR SALE Diamond Head, $55,000,000, 3735 Diamond Head Road, Honolulu, HI 96816, 11 Beds/10.5 Baths, 10,047 Sqft Living, 2.046 Acres Land

FOR SALE Kahala, $8,200,000, 4922 Kolohala Street, Honolulu, HI 96816, 5 Beds/6.5 Baths, 4,920 Sqft Living, 10.732 Sqft Land3 Beds/3.5 Baths, 2,755 sqft Living, 365 sqft Lanai

(808) 221-8889 noelshaw@hawaiilife.com www.noelshaw.com

H AWA I I B U S I N ES S | 69

2025

Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

Hawaii Life

TOP PERFORMER O‘ahu 2025

Kim Leslein Soares REALTOR(S), RS-56900 ABR, CNE, GRI, SRES

“M

ahalo for your trust and support. I am incredibly honored to be recognized as a Hawaii Business Magazine Top Performer, and I want to extend my heartfelt thanks to my clients, colleagues, and community for making this achievement possible.

My journey in real estate began in 1994 with East Oahu Realty, where I had the privilege of serving as President until our meaningful merger with Hawaii Life. Over the years, I’ve been fortunate to represent clients across a wide range of properties—from small condominiums to oceanfront estates. Regardless of size or price point, my goal has always remained the same: to provide every client with professional, ethical, and personalized service.

Real estate has never just been about transactions for me; it’s about helping people create a solid foundation in the islands, a true home base that brings peace, security, and lasting value to their lives.

What brings me the greatest fulfillment is the trust that you place in me, allowing me to help you navigate one of life’s most important decisions. That trust has not only led to successful partnerships, but also to meaningful friendships that I deeply cherish.

Outside of work, I find balance and purpose through community involvement, ocean activities, and time with loved ones. I’m especially grateful to continue serving our neighborhoods through programs like Adopt A Highway and the American Red Cross.

Mahalo nui loa for being a part of this journey.

I look forward to continuing to serve you with heart and integrity.”

221 PORTLOCK ROAD, HONOLULU, OAHU $8,900,000 | 6BD | 6BA | 6,504 sf Living | MLS 202502111 Nestled in one of Oahu’s most desirable beachfront neighborhoods, this property offers direct access to sandy shores and the peaceful beauty of island living.

Its setting captures both exclusivity and serenity, providing a private retreat in Hawaii Kai, Oahu.

Kim Leslein Soares REALTOR(S), RS-56900 ABR, CNE, GRI, SRES 808.781.6600 KimSoares@HawaiiLife.com

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Hawaii Life East Oahu Office Address: 6600 Kalanianaole Hwy, #223, Honolulu, HI 96825

SPECIAL PROMOTIONAL SECTION

O‘ahu

Top Performers in Real Estate

2O25

Keller Williams Honolulu

TOP PERFORMER O‘ahu 2025

The Ihara Team Realtor®, RS-65892

D

an and Julie Ihara, with over 20 years

covering topics such as “Building Wealth Through a 1031

of experience, have built their platform

Exchange,” “I’m a Trustee - Now What?” “Senior Living

around education and client advocacy,

Options,” and “Millionaire Mindset.”

earning a stellar reputation in the

Dan Ihara is not only an accomplished real estate

Hawai‘i real estate market. Specializing in various

professional but also the Leader of the Keller WilliamsTM

aspects of real estate, including luxury properties,

Real Estate PlannerTM community. In this role, he coaches

investor strategies, 1031 exchanges, wealth building,

hundreds of real estate agents across the country, a

pre-inheritance plans, legacy protection, trust sales,

consultative approach that has brought him immense

and senior relocation, The Ihara Team are real estate

success in Hawai‘i. This approach focuses on facilitating

wealth advisors that have successfully served over 1,500

conversations, providing tailored solutions, minimizing

families in achieving their real estate dreams.

taxes, and executing well-thought-out plans to build,

Consistently featured in Honolulu’s Top 100 Realtors for the last 19 years, the Iharas have sold over 1 billion

protect, and transfer generational wealth and accomplish families’ objectives.

dollars in sales, successfully completed hundreds of

With their passion, expertise, and dedication, Dan

1031 exchanges with a 100% success rate, and assisted

and Julie Ihara, along with The Ihara Team, have become

numerous seniors in downsizing and relocating.

the chosen family realtors for those looking to create and

They’ve spoken at over 1,000 local and national venues,

execute long-term strategies that fulfill their dreams.

The Ihara Team ihara@iharateam.com 808-754-2225

H AWA I I B U S I N ES S | 71

2025

Top Performers in Real Estate

O‘ahu

SPECIAL PROMOTIONAL SECTION

List Sotheby’s International Realty

TOP PERFORMER Oahu 2025

Esther Park Kusunoki REALTOR® #RB-21002

E

sther Park Kusunoki has made a name for herself within Hawaii’s real estate community.

Her dedication to her clients, welcoming demeanor, and extensive knowledge of the industry make her one of the top brokers in Hawaii.

Her outstanding track record of achievement and conscientious, results-driven approach have singled her out as an industry leader.

For 10 consecutive years, Esther has been recognized as List Sotheby’s International Realty’s Highest Overall Sales Top Producer and ranked by Real Trends and Newsweek as a verified Top Broker in the United States for 2024. Specializing in the high-end luxury market and multi-family apartment buildings, she is known as the Queen of Kakaako and Ward Village—a title backed by her numerous sales in the area. Her exceptional success is further demonstrated by her many apartment building transactions across Oahu.

Esther has perfected the craft of building strong relationships with colleagues and clients alike, and she has developed a powerful global network over the course of her career. Integrity is at the core of everything Esther does, ensuring that the goals she sets for herself and her business align with the level of service and value she consistently delivers to her clients.

TESTIMONIAL “Esther possesses the key elements of a successful broker, such as care, credibility, and persistence. However, what impresses us most is her drive to gain market knowledge and advantage through initiating contact, maintaining constant communication, and following through.

We appreciate Esther’s sincerity, which comes through in everything she does.”

Left to Right: 1100 Ala Moana Boulevard GPH $13,800,000.

1055 Ala Napunani sold at $11,500,000, represented buyer.

List Sotheby’s International Realty (808) 489-6733 esther@eparkrealtor.com

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O‘ahu

SPECIAL PROMOTIONAL SECTION

List Sotheby’s International Realty

TOP PERFORMER

Top Performers in Real Estate

2O25

Drew Read HI LICENSE RS-67769

O‘ahu 2025

D

rew’s honesty, integrity and knowledge coupled with his exceptional service make him a great realtor!

Drew has experience with real estate in both Hawai‘i and the Mainland. He started out buying properties for investment purposes and discovered a true passion for the industry. Drew was first exposed to real estate as a child, when his father worked as an architect and general contractor of custom homes. This early introduction gave Drew an appreciation for quality craftsmanship and architectural design.

With his dependability, loyalty, expertise and attention to detail, Drew goes above and beyond to understand his clients’ needs and consistently exceeds their expectations. His commitment to professional service combined with his enthusiasm and integrity make Drew an excellent guide to real estate.

List Sotheby’s International Realty 4211 Waialae Avenue, Suite 8060 Honolulu, HI 96816 (808) 782-3636 | realestate@drewread.com www.drewread.com

H AWA I I B U S I N ES S | 73

2025

Top Performers in Real Estate

Maui

SPECIAL PROMOTIONAL SECTION

Coldwell Banker Island Properties

TOP PERFORMER Maui 2025

Jennifer L. Edwards REALTOR BROKER | RB-23247

A STRATEGIC FORCE IN MAUI LUXURY REAL ESTATE — FROM WAILEA TO MONTAGE KAPALUA

W

ith over $800 million in closed sales and more than two decades of experience, Jennifer Edwards is more than a top-producing broker — she’s one of the most trusted names in Hawai‘i luxury real estate. Consistently ranked in the Top 1% nationwide and the Top 100 in Hawai‘i, Jennifer’s success is built on discretion, expert negotiation, and an insider’s edge across Maui’s most exclusive markets.

As Broker-in-Charge and the sole agent serving as the exclusive on-site representative for Montage Residences Kapalua Bay — Maui’s only Forbes Five-Star residential resort — Jennifer provides direct access to high-value inventory, discerning buyers, and ownership relationships that no other agent can offer. Her expertise spans branded residences, resort developments, and landmark oceanfront estates from Wailea to Kapalua.

Now aligned with Coldwell Banker Island Properties and the prestigious Coldwell Banker Global Luxury Division, Jennifer operates from a strengthened platform while staying focused on what sets her apart: refined marketing, strategic insight, and an unwavering commitment to results.

A U.S. Army veteran, world champion outrigger canoe paddler, and entrepreneur, Jennifer brings a rare blend of leadership, discipline, innovation, and grace to every transaction — delivering a client experience as elevated as the properties she represents.

Explore more at LuxuryHomesMaui.com Top 1% in the Nation by Real Trends and Wall Street Journal 2022, 2023 Hawaii Business Magazine’s Top 100 Realtors 2019, 2020, 2022, 2023, 2024, 2025 Maui’s Top 3% 2019, 2020, 2021, 2022, 2023, 2025

Montage Kapalua Bay Featured Listings: Residence 1604 – $10,975,000 | Residence 1205 – $6,975,000 Residence 1204 – $6,750,000 | Residence 4505 – $4,670,000 Residence 5104 – $4,195,000 | Residence 2204 – $4,175,000

CBIP l Global Luxury Jen@LuxuryHomesMaui.com m.808.283.3436

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SPECIAL PROMOTIONAL SECTION

Maui

Top Performers in Real Estate

2025

Hawai‘i Life

TOP PERFORMER Maui 2025

John B. Guard IV REALTOR (RB-18262)

J

ohn B. Guard IV offers a rare blend of legacy,

Guard is known for his loyalty, discretion, and

discretion, and deep market expertise as

ability to curate best-case outcomes. He consistently

a Realtor Broker in Hawai‘i real estate. A

prioritizes his clients’ long-term goals while delivering

descendant of Hawaiian royalty, Parker Ranch

insight-driven strategies with integrity and tenacity.

lineage, and the original missionaries who

His relationships are built on trust. His knowledge of

founded the Chiefs’ Children’s School under

Hawai‘i’s unique land history and market dynamics

Kamehameha III, Guard’s heritage is deeply rooted in

makes him a valued resource for sophisticated investors

the cultural and historical fabric of the islands.

and families establishing generational homes.

This prestigious background, combined

Guided by Hawaiian values and a commitment to

with decades of leadership, business success,

preserving the islands’ resources and lifestyle, Guard

philanthropy, and Christian values, has shaped a

combines traditional stewardship with a forward-

principled and results-driven approach to real estate.

thinking approach to land use and investment. His work

For nearly 30 years, Guard has earned a reputation

supports not only exclusive real estate acquisitions but

as Maui’s leading authority on large Upcountry and

also the broader vision of protecting and enhancing

Central Maui acreage, high end properties—serving

Hawai‘i for future generations.

as a trusted Realtor, investor, and consultant to high-

Inquire about Guard’s ownership/sales of estates

net-worth clients seeking privacy, legacy holdings,

at Hawai‘i’s Legacy Wellness Center, creating a legacy

and meaningful investments.

destination valley on Maui. Welcome to Kuawa Ola: KuawaOla.com.

Hawai‘i Life Real Estate Brokers john@hawaiilife.com | 808.870.2227 1043 Makawao Ave #203B Makawao, HI 96768

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2025

Top Performers in Real Estate

Maui

SPECIAL PROMOTIONAL SECTION

Hawai‘i Life

TOP PERFORMER Maui 2025

Josh Jerman REALTOR-BROKER, RB-19728

I

want to once again thank my loyal clients for choosing me to represent their Maui real estate endeavors. Raised in Upcountry Maui, I bring over 20 years of proven success in real estate sales. I was ranked #1 in 2023, #2 in 2024, and #3 in 2022 in residential sales volume out of over 1,700 Realtors on Maui (Realtors Association of Maui). I also want to give thanks to my team, which includes my sales partners: Tim Stice, R(B), Rich Wu, R(S), Souksamlane Jerman, R(S), Executive Assistant Kyle Bejar, and Operations Manager Michele Feorene, R(S). We have established processes that ensure clear, timely communication and personalized service. We utilize market insights, ongoing education, and international connections through Forbes Global Properties.

Academic achievements include graduating cum laude with two bachelor’s degrees from the University of Washington. I’ve since traveled to 26 countries (and counting). I’ve hiked to Machu Picchu and Mount Everest Base Camp, canoed the Amazon River and swam in the Ganges, sailed in the South Pacific, fly-fished in Patagonia, trekked in the North Pole, and touched the Great Wall of China. Throughout my travels, I’ve developed an appreciation, awareness, and respect for all types of people and was inspired to return home to serve my community while applying my cultured experiences. I have a consistent reputation for professionalism, personal integrity, and dedication to my clients.

In 2019, I was named Realtor Broker of the Year by the Realtors Association of Maui. Prior to that, I was honored as the recipient of Maui County’s Young Business Person of the Year Award for 2012. I have held numerous positions with the Realtors Association of Maui (RAM) since 2005,

including Director-at-Large (6 years) and I currently serve as co-chair of Professional Standards. I served on the Board of Directors for the Hawaii Association of Realtors (HAR) for four years, chaired the Realtor Party (HAR), and served on the National Association of Realtors (NAR) Major Investor Council. My wife and I founded the Josh and Souk Jerman Foundation, which has now donated more than $80,000 to college-bound high school students across Maui County. I will remain committed to upholding the highest standards of integrity and service to ensure my clients receive an exceptional experience every time. I give thanks to the Maui community which continues to sustain me personally and professionally.

Casa En Maui is the highest recorded sale on Maui in 2025 (at time of publication). This 21,692-square-foot oceanfront estate

by Ricardo Legorreta sits on 0.87 acres along Keawakapu Beach, with over 100 feet of oceanfront lanai. Defined by bold geometric forms and natural materials, it features 8 bedrooms, 8 full and 2 half baths, and a 2,038-square-foot garage. Designed with expansive lanais, a lap pool, and purpose-built spaces—private office, gym, and yoga studio—it reflects Legorreta’s signature blend of artistry and function. A sculptural echo of Maui’s beauty, Casa En Maui rises like a symphony of light and form, where Legorreta’s vision dances with the elements in a vivid interplay of shadow, color, land, and sea.

(808) 283-2222 Josh@HawaiiLife.com JoshJerman.com

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SPECIAL PROMOTIONAL SECTION

Maui

Top Performers in Real Estate

N E WS M A K E RS D E S E RV E C R E D I T W H E R E C R E D I T I S D U E

2025

COMME MOR ATE YOUR

HAWAII BUSINESS

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

H AWA I I BI IUBS U I NSES H AWA I N SES S | 77

Maui

SPECIAL PROMOTIONAL SECTION

ith over 45 years of real estate experience on Maui, Dave Richardson is one of the island’s most respected Realtors, consistently recognized as one of Hawaii Business Magazine’s ‘Top 100 Realtors’ since 2006. In 2024 Dave successfully closed Maui’s highest transaction at $38.5M, representing both the Buyer & Seller and further solidifying his position as a leader in the market.

Dave’s extensive career began in 1983, and since then, he has managed some of the most notable real estate transactions on the island. His work includes representing the National Park Service in acquiring 1,480 acres in East Maui, connecting Haleakala National Park to the ocean, and facilitating major trust sales for clients like Bank of Hawai‘i’s Trust, and attorney related Trust sales. His deep market knowledge and ability to handle complex deals have made him a trusted advisor for clients seeking exceptional results.

Beyond his professional accolades, Dave is known for building long-lasting relationships with his clients, many of whom have worked with him on multiple transactions or referred friends and family.

His dedication to ensuring smooth and stress-free transactions is a reflection of his commitment to excellence and client satisfaction.

Active in the Maui community, Dave has served as a board member and past president of the Montessori School of South Maui and has contributed to the integrity of the real estate profession through his involvement with the Realtors Association of Maui’s Professional Standards and Grievance Committees and as a Board member.

When not working, Dave enjoys spending time with his wife, her extended Maui family, and their daughter, who recently returned to Maui.

2025

Top Performers in Real Estate

Hawai‘i Life

TOP PERFORMER Maui 2025

David W. Richardson R(B)-10780 REALTOR ®

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H A W A I ‘ I L I F E | MAUI (808) 870-9916 dave@hawaiilife.com https://mauioceanfront.com/

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Maui

SPECIAL PROMOTIONAL SECTION

Top Performers in Real Estate

2025

Coldwell Banker Island Properties

TOP PERFORMER Hawai‘i Island

2025

Marco A. Silva RB 20599

M

arco Silva is a top-producing Realtor® specializing in exceptional real estate on Hawai‘i Island. Known for his discretion, insight, and unparalleled service, Marco guides clients through high-end sales and acquisitions with trusted insight.

As a Luxury Property Specialist with the Coldwell Banker Global Luxury® program, Marco pairs deep local market knowledge with worldwide reach—leveraging an international referral network and best-in-class marketing to position his clients extraordinary estates before the world’s most qualified buyers.

As a member of REALM™, an exclusive global network of top-tier real estate professionals, Marco offers clients access to a powerful collective representing: • $20B+ in active luxury listings • 400,000+ qualified clients • 600+ members across 150+ brands in 40+ states and 16+ countries

Marco also holds multiple specialized designations that directly benefit his clients: • Certified Luxury Home Marketing Specialist • Certified Residential Specialist • Certified Negotiation Expert Clients trust Marco for his integrity, market insight, and commitment to delivering a seamless, rewarding experience—curating the acquisition and sale of estates, resort sanctuaries, and world-class investment properties.

In addition to his real estate work, Marco is passionate about giving back to the community. He proudly serves on the board of the Coldwell Banker Island Properties Foundation, supporting local causes across Hawai‘i through charitable giving and outreach.

Elevate your real estate journey with a proven expert in Kona’s most exclusive markets.

Marco A. Silva | RB 20599 808-557-8921 Marco@KonaLuxuryRealEstate.com Coldwell Banker Island Properties | 75-5799 Ali‘i Dr Unit A3, Kailua-Kona, HI 96740

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2025

Top Performers in Real Estate

EXP Realty

TOP PERFORMER Hawaii Island

2025

Hawai‘i Island

SPECIAL PROMOTIONAL SECTION

Sonja Schmidt (RS) 75097

Big Island Real Estate with Heart

F

or over eleven years, Sonja Schmidt has served Hawai‘i Island with integrity, care, and a sharp eye for detail. Known for going above and beyond, she strives to make each real estate journey smooth and stressfree—whether helping first-time buyers, investors, or those relocating to or from paradise.

Sonja is a graduate of the University of California and holds a Master’s in Education from Western Washington University. Before real estate, she was an award-winning teacher in Alaska and a small business owner/publisher for 14 years.

She serves her community through leadership and active roles in nonprofits.

Clients appreciate her professionalism, warmth, and commitment to their goals. A lifelong learner, Sonja has earned numerous real estate certifications to better serve her clients.

When not working, she enjoys time with her labradoodles, swimming, creating art, and connecting with friends and family—living the island lifestyle she helps others discover every day.

Hawai‘i Life

TOP PERFORMER Hawai‘i Island

Sonja Schmidt (RS) 75097 Kailua-Kona, Hawaii 96740 808-557-5573 https://sonjaschmidt.hii.exprealty.com # RB-21841

Denni K. Keyes #RS-81044

2025

B

orn and raised on Hawai‘i Island—from the cool country town of Kamuela to the culturally rich district of North Kohala—I’m a proud Native Hawaiian, a mixed wahine with deep generational roots in my community. With over a decade of experience in Hawai‘i’s Title and Escrow industry, complemented by a diverse background in real estate transactional expertise, I prioritize professionalism and the cultivation of long-term relationships. My focus is on establishing meaningful connections with clients and fostering strong ties within the island community we call home. Building trust and rapport is essential to my approach, as I believe that lasting partnerships lead to successful outcomes for everyone involved. With localized insight and a commitment to integrity, humility, and clear communication, I strive to guide my clients with care, professionalism, and confidence. My husband and I are grateful to raise our children in the same community that helped shape us. Outside of work, I enjoy spending quality time with my family, giving back to my island community through non-profit work or coaching youth sports. I love music, outdoor adventures, and great food! I’m passionate about people and place, and I welcome every opportunity to connect, serve, and “talk story.”

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808.333.6181 dennikeyes@hawaiilife.com www.dennikeyes.com Kohala Coast Hawaii Life Office 69-201 Waikoloa Beach Dr. #505 Waikoloa, HI 96738

SPECIAL PROMOTIONAL SECTION

Hawai‘i Island

Top Performers in Real Estate

2025

Compass

TOP PERFORMER Hawai‘i Island

2025

Nate Gaddis Founder & President, Wai Pacific Nate Gaddis, R(S) 75971

T

Pictured from left to right: Yuko Uehana, David Lindsey, Maggie Zhang, Nate Gaddis, Lauren Kelley, Amy Xue, Justin Bugado

hank you.

Yes, you! Those two words best describe the last four years at Wai Pacific.

As the world around us accelerates, you (and our ability to serve you) is all that really matters to our business.

To that end, we’ve brought on two key associates to expand our capabilities:

Yuko Uehana, a long-time Hawaii agent and native Japanese speaker – and Justin Bugado, a Big Island-born marketing phenom.

Whether we’re assisting you in English, Mandarin, or Japanese - each project you entrust us with can mean the world to you - and we pledge to never forget that.

With gratitude, -Nate Gaddis | Wai Pacific

Wai Pacific 75-1029 Henry St, Suite 301 Kailua-Kona, HI 96740 nate@waipacific.com (808) 937-2663 www.waipacific.com

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2025

Top Performers in Real Estate

Hawai‘i Island

SPECIAL PROMOTIONAL SECTION

Kohanaiki Realty

TOP PERFORMER Hawai‘i Island

2025

Carrie Nicholson PRINCIPAL BROKER & VICE PRESIDENT, SALES AND MARKETING, RB-19302

M

AHALO to Hawaii Business Magazine for the honor of being named a Top Performer in 2025.

It’s an honor to be recognized in a place as extraordinary as Hawai‘i—a place where natural beauty and unique lifestyle continue to inspire and attract people from around the world. It’s this very appeal that drives the resilience and consistent growth of the luxury real estate market across the islands that reflect the lasting appeal of this exceptional place I’m fortunate to call home.

As a real estate professional serving the Kohanaiki Community along the Kona Coast of Hawai‘i Island, I’m grateful for the opportunity to help clients navigate this dynamic and competitive market. With strong ties to the local community and a deep understanding of what makes our island lifestyle so special, I focus on delivering insightful guidance and exceptional service tailored to each client’s goals.

If you’re considering a move—whether that’s purchasing a home, investing in property, or exploring what’s possible—I’d welcome the opportunity to support you. Let’s connect and discuss how I can help you move forward with clarity and confidence.

Hale Kai Apo, “Home of the Changing Tides,” is a beautifully designed Shay Zak residence, commanding a coveted Front Row position at Kohanaiki. This 6-bedroom, 5.5-bath coastal retreat includes office space, dual primary suites, and was designed for seamless indoor-outdoor living with sweeping ocean views, an infinity-edge pool, and expansive entertaining areas. Offered at $23,500,000

Kohanaiki Realty, LLC 808-896-9749 | Cnicholson@Kohanaiki.com Kohanaiki.com | @carrierealestate

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SPECIAL PROMOTIONAL SECTION

Kaua‘i

Top Performers in Real Estate

2025

Aloha Sotheby’s International Realty

TOP PERFORMER Kaua‘i 2025

Andrea Healey Top Performing REALTOR® on Kauai REALTOR® BROKER • RB-23550

LUXURY REAL ESTATE WITH HEART, VISION & ALOHA

W

hen it comes to buying or selling real estate on Kauai, nothing compares to working with Andrea Healey. A topperforming REALTOR® Broker with Sotheby’s International Realty, Andrea blends market expertise, global perspective, and genuine connection to deliver extraordinary results across Kauai’s luxury real estate market.

Originally from Quebec and fluent in French and English, Andrea’s international background and calm, confident style resonate with clients worldwide. Her thoughtful guidance, strategic marketing, and local insight make her a trusted advisor—whether you’re purchasing a dream home, selling a coastal estate, or exploring a smart island investment.

Known for her professionalism, integrity, and warm island energy, Andrea is more than an agent—she’s your dedicated partner in navigating Kauai’s unique real estate landscape.

“Andrea is an expert communicator, organizer and problem solver. Not only is she thorough in her research and foresight, she is warm, personable and genuinely goes the extra mile to help us meet our goals. We felt so supported and guided during the whole transaction from day one. With Andrea, anything is possible! She keeps everything simple and straightforward. We’ll definitely call her for any of our future real estate endeavors!”

–DESTINY ROCHELLE CHAPIN

Exceptional Service • Extraordinary Results Contact Andrea Healey for a personalized consultation.

AndreaHealeyKauai.com

Oceanfront Poipu Estate with Two Homes on Half an Acre — A Rare Coastal Legacy Opportunity. MLS: 718285 $4,950,000 | 4770 Lawai Rd, Koloa, HI 96756

Top 1.5% Realtor® in the Nation from RealTrends.

Andrea Healey - REALTOR® Broker • RB-23550 Aloha Sotheby’s International Realty Kauai Top Producer - Hawaii Top 100 c: +1.808.635.7678 e: andrea.healey@alohasir.com w: AndreaHealeyKauai.com

SCAN ME

H AWA I I B U S I N ES S | 83

Kaua‘i

SPECIAL PROMOTIONAL SECTION

ith more than 20 years of real estate experience on Kauai, I bring a seasoned, straightforward approach to helping clients buy and sell property on the island’s South Shore. Since making Kauai home in 2004, I’ve focused my practice on residential, secondhome, and resort properties in Poipu Beach, Koloa, Lawai, Omao, Kalaheo, and Lihue—areas I know deeply, both professionally and personally.

Many of my clients are navigating life transitions: purchasing a second home, relocating to Kauai full time, or selling a property that’s been in the family for years.

I understand the weight of those decisions and the

details that matter—because I’ve been there myself.

What I offer is a calm, knowledgeable presence and a commitment to getting it right.

I’ve been honored to receive industry recognition, including being named a top performer by Hawaii Business Magazine. But what matters most to me is the relationship I build with each client. I listen carefully, keep communication clear, and prioritize your goals from the first conversation through closing. Whether you’re searching for a home that fits your lifestyle or preparing to list your Kauai property, I’m here to guide you every step of the way—with no pressure, no fluff, and no wasted time.

2025

Top Performers in Real Estate

Hawai‘i Life

TOP PERFORMER Kaua‘i 2025

Lynda Gill CRS, ABR, ePRO, RENE, RSPS, SRS, RS Lic. #63088

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(808) 346-0056 LyndaGill@HawaiiLife.com LyndaGill.com

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HAWAIIBUSINESS.COM/NEWSLETTER-SIGNUP

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2025

KUKULU HALE AWARDS R ECO G N IZI N G E XCELLEN CE I N HAWAI I ’ S CO M M ERCIAL R E AL E STATE I N D U STRY

H AWA I I B U S I N ES S | 87

Thank you Design Partners, Inc. for your creativity, diligence and care to develop the first purpose built Charter school in Kapolei. Avalon Group is grateful for all that you do for Team Avalon!

DreamHouse Center AR C H I T E C T

Design Partners, Inc. C O N T R AC TO R

Honolulu Builders OWN E R / D E V E LO PE R

Avalon Group dba Kapolei 60, LLC

Thank you ACK. You made the impossible happen on time! Congratulations on your nomination!

Hawaii Pacific University School of Natural and Computational Sciences AR C H I T E C T

Dean Sakamoto Architects LLC C O N T R AC TO R

A.C. Kobayashi Builders OWN E R / D E V E LO PE R

Avalon Group dba Shark Campus LLC

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avalonhi.com

N A I O P H AWA I I ’ S 2 8 TH A N N UA L

KUKULU KUKULU HALE HALE AWARDS AWARDS TH N NA A II O OP P H HA AW WA A II II ’’ S S 2 28 8 TH A AN NN NU UA AL L

TA B L E O F CONTENTS TA TA B BL LE E O OF F C O N T E N T CONTENTS S

90

2025 Kukulu Hale Jurors & Awards Committee

90 90 2025 Kukulu Hale Jurors 2025 Kukulu Hale Jurors 91 & Awards Committee

NAIOP Hawaii is one of 51 chapters within NAIOP’s extensive network throughout NAIOP is of NAIOP Hawaii Hawaii is one one of 51 51 North America and has chapters within NAIOP’s chapters within NAIOP’sserved as the state’snetwork premier throughout association of extensive extensive network throughout development industry North America and served as North America and has hasleaders servedand as decision-makers since 1988. the state’s premier association of the state’s premier association of development industry leaders and development industry For nearly three decades ourleaders annual and decision-makers since decision-makers since 1988.

1988.

Kukulu Hale Awards program has

& Awards Committee Kukulu Hale Award Sponsors

91 91 Kukulu Hale Award Kukulu Hale Award 92 Sponsors

Sponsors of the Year Developer

92 92 95 Developer of the Year Developer of the Year Outstanding Service Award

95 95 Outstanding Outstanding 96 Service Award

ServiceHale Award Kukulu Award Winners

96 96 Kukulu Hale Kukulu Hale 104 Award Winners

Award Winners Engineering Firm of the Year

104 104 Engineering Engineering 106 Firm of the Year

Firm of the Year Distinguished Entries

106 106 108 Distinguished Entries Distinguished NAIOP HawaiiEntries Chapter Awards

108 108 NAIOP Hawaii NAIOP Hawaii 110 Chapter Awards

Chapter Awards Corporate Sponsors 2025 Board of Directors

110 110 Corporate Sponsors

Corporate Sponsors 2025 Board of Directors 2025 Board of Directors

recognized individuals and For nearly three decades ourorganizations annual For nearly three professional decades our achievements, annual whose projects, Kukulu Hale Awards program has Kukulu Hale Awards program has and civic service have contributed to Hawai‘i’s economic growth and recognized individuals and organizations individuals and organizations enriched our community. recognized whose projects, professional achievements, whose projects, professional achievements, invite youhave to read about thisto year’s awardees and distinguished andWe civic service contributed Hawai‘i’s economic growth and and civic service have contributed to Hawai‘i’s economic growth and entries inour thecommunity. following pages. Special honorees include Highridge enriched enriched our community.

Costa, Kali Outstanding Award; We Developer invite you of to the readYear; about thisWatson, year’s awardees and Service distinguished We you to read about this year’s Firm awardees distinguished and R.Minvite Corporation, of theand Year. entries inTowill the following pages.Engineering Special honorees include Highridge entries in the following pages.

Special honorees include Highridge On Developer behalf of our board of directors and Outstanding NAIOP Hawaii’s 230-plus Costa, of the Year; Kali Watson, Service Award; Costa, Developer of the Year; Kali Watson, Outstanding Service Award; members, I extend deepest gratitude to our Kukulu Hale sponsors, and R.M Towill Corporation, Engineering Firm of the Year. and R.M Towill Corporation, Engineering Firm of the Year. jurors, committee members.

Our 2025 made On and behalf of our board of directors and awards NAIOPprogram Hawaii’sis230-plus On behalf of our board of directors and NAIOP Hawaii’s 230-plus possible generous members,byI their extend deepestsupport. gratitudeMahalo! to our Kukulu Hale sponsors, members, I extend deepest gratitude to our Kukulu Hale sponsors, jurors, and committee members. Our 2025 awards program is made jurors, and committee members. Our 2025 awards program is made R EYN TANAK A generous possible by their support. Mahalo! possible by their generous support. Mahalo!

2025 President, NAIOP Hawaii R EYN TANAK A R EYN TANAK A

2025 2025 President, President, NAIOP NAIOP Hawaii Hawaii

H AWA I I B U S I N ES S | 89

2025 KUKULU HALE JURORS

Francisco Gutierrez

Senior Vice President, Development Alexander & Baldwin

Wayne Goo, AIA Principal & CoFounder Workshop-HI

Sunny Rosario

Manager of Governmental Affairs & Community Relations Gentry Homes

Kiley Nakamura

Senior Vice President Director, Commercial Real Estate Loans American Savings Bank

Kimi Yuen, LEED AP BD+C President/ Chairperson PBR Hawaii & Associates, Inc.

REVIEWING AND JUDGING THIS YEAR’S ENTRIES.

KUKULU HALE AWARDS COMMITTEE

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Jennifer Camp and Catherine Camp, Co-Chairs

Todd Apo Liana Dietz Larry Heim Ken Hayashida

Mike Imanaka Glen Kaneshige Courtney Kosaka Mele Pochereva

Barbie Rosario Leighton Yuen

2 0 2 5 K U K U L U H A L E AWA R D S P O N S O R S AS O F 0 3.11 . 2 5

I LI MA S PO N SO RS

MAI LE S PO N SO RS

PI K AKE S PO N SO R

HONOREES HONOREES

HIGHRIDGE COSTA HIGHRIDGE COSTA KALI WATSON KALI WATSON R.M. TOWILL CORPORATION R.M. TOWILL CORPORATION

WHEN WHENREAL REALESTATE ESTATEVISIONARIES VISIONARIES

PUT PUTTHEIR THEIRHEADS HEADSTOGETHER, TOGETHER, AMAZING AMAZINGTHINGS THINGSHAPPEN HAPPEN. .

Bank ofof Hawai‘i congratulates this Bank Hawai‘i congratulates this year’s 2025 Kukulu Hale honorees year’s 2025 Kukulu Hale honorees forfor their commitment to to Hawai‘i and their commitment Hawai‘i and the commercial real estate industry. the commercial real estate industry.

Thanks toto their passion and vision, Thanks their passion and vision, Hawai‘i’s future is is onon a very firm Hawai‘i’s future a very firm foundation. foundation.

H AWA I I B U S I N ES S | 91

DEVELOPER OF TH E YEAR – KU HO‘OKELA AWARD

Highridge Costa Development Company

“CHANGING LIVES”

This is the longstanding company mission for developer Highridge Costa. Launched in 1994 by CEO Michael Costa, the firm is celebrating its 31st year of enhancing lives through a long-term business approach by developing, preserving, owning and operating quality new and repositioned affordable, workforce, family, senior, and permanent supportive housing.

During these 30-plus years, Highridge Costa has developed over 300 communities offering more than 30,000 affordable housing units throughout the United States and Puerto Rico. It has also earned numerous industry accolades from the National Association of Home Builders (NAHB), the Pacific Coast Builders Conference (PCBC), Affordable Housing Finance and others.

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When Highridge Costa first entered the Aloha State eight years ago, few could have known that it was a strategic shift by the firm to Hawai‘i, which would gradually lead to thousands of new affordable housing units built, under construction and planned across multiple islands.

Recognizing the ongoing need for affordable housing across Hawai‘i, the firm’s dedicated staff, partners and consultants will continue to embrace Highridge Costa’s mission in the communities they help to create. To support this ongoing commitment, in 2024 Highridge Costa expanded its local office to accommodate the relocation of several key development professionals to Honolulu.

This success in Hawai‘i would not have been possible without the support of many people including Governor Josh Green, Lt. Gov. Sylvia Luke, the Hawai‘i State Legislature, the Hawai‘i Public Housing Authority (HPHA), the Hawai‘i

Housing Finance and Development Corporation (HHFDC), the City and County of Honolulu and the counties of Maui, Kaua‘i, and Hawai‘i. The ongoing success of Highridge Costa is due, in large part, to its expertise with Federal Section 42 Low-Income Housing Tax Credits (LIHTC), tax exempt mortgage-backed revenue bonds, and other federal, state and local housing finance and grant programs. Over the decades, this wide-ranging expertise has made the firm one of the nation’s most knowledgeable developers, owners, and asset managers in the highly specialized housing tax credit industry.

By working with some of the building industry’s most creative and award-winning land planners and architects, Highridge Costa maintains a focus on building attractive, architecturally significant, multifamily living environments that integrate seamlessly into rural, suburban and urban neighborhoods.

Michael Costa, CEO, Highridge Costa

Opposite page: Hale Moena; below, Ka’ahumanu Homes, Mayor Wright Homes, Pohukaina Commons and Right: Kokua Hale

This innovative approach will ultimately provide over 14,000 affordable housing units during the next 10 to 15 years for the state’s kūpuna, ohana and workforce on the islands of Oahu, Maui, Hawai‘i and Kaua‘i. Explains Moe Mohanna, President of Highridge Costa Development Company, “When you work with local communities to create affordable housing, you become part of a legacy for future generations of kama‘āina to live with dignity in a place they can call home and a place that they know they can afford without any ongoing rental or operating subsidy.” In other words, Changing Lives.

Proj ec t Hi g hlights Hale Moena, Kapolei Hale Moena is a mixeduse affordable senior and multifamily rental community in Kapolei.

Located on a threeacre block, the first two phases of this expansive community include 297 units with mountain and ocean views in two 13-story towers. Phases 3 and 4 will include 245 units in two new 13- and 14-story towers. Existing retail space in the first two phases is planned to be converted into community space in addition to new indoor and outdoor spaces.

At completion, a total of over 40,000 square feet of community space will be available for residents.

Kokua Hale, Honolulu Kokua Hale is a senior multifamily rental community in the heart of Honolulu. The single-phase community on just 0.29 acres includes a 20-story tower providing 222 affordable studio units with a Walk Score of 99. Common areas for residents include a landscaped amenity deck on the sixth floor and two community rooms. With a perfect location for working professionals and retirees age 55 and over, many residents can forego a personal vehicle with a bus stop across the street and benefit from essential neighborhood amenities within a half-mile radius including a hospital, banks, grocery store and parks.

Pohukaina Commons, Honolulu Pohukaina Commons will provide 625 critically needed affordable workforce rental homes for local families and individuals in Honolulu. The first phase will include a 30-story tower with 434 units, and the second phase will include a 20-story tower with 198 units. A large amenities deck on top of the parking structure will feature canopy trees and trellis structures for shade, raised community garden beds, a shaded keiki play area, fitness center, indoor community rooms, a bark park and dog wash, swimming pool and BBQ areas. The community will also place residents within walking distance to mass transit, employment centers and a wide variety of neighborhood services.

Moe Mohanna, President, Highridge Costa Development Company

Mayor Wright Homes, Honolulu Highridge Costa is working with the Hawai‘i Public Housing Authority to redevelop and expand the aging Mayor Wright Homes community in the Kalihi Pālama neighborhood of Honolulu. This long-term project will transform the existing 70-year-old community with 364 public housing units into a vibrant, mixeduse and transit-oriented community with 2,448 new homes to serve those with various incomes, ranging from affordable rental units to leasehold, for-sale condominiums.

Located just a quarter mile from the planned HART Iwilei Station, the redevelopment will also offer more than four acres of public open space, retail and commercial space plus

ample indoor and outdoor amenities.

Ka‘ahumanu Homes, Honolulu In partnership with the Hawai‘i Public Housing Authority, Highridge Costa is working to redevelop and expand the Ka‘ahumanu Homes community at the intersection of Alokele Street and Kaiwiula Street in Honolulu. The proposal will replace 152 existing units with approximately 1,550 new affordable and workforce homes along with new retail and commercial spaces, parks and community gathering areas. Located within a half mile of two rail stations, on-site amenities will include a clubhouse, keiki play areas and dog parks, as well as other indoor and outdoor community spaces and services.

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O U T S TA N D I N G S E R V I C E AWA R D O OU UT TS ST TA AN ND D II N NG G S SE ER RV V II C CE E A AW WA AR RD D

Kali Watson Director Kali Kali Watson Watson Department of Hawaiian Director Director Home Lands Department Department of of Hawaiian Hawaiian Home Lands Home Lands

F F

OR KALI WATSON, RETURNING

TO HIS ROLE AS CHAIRPEROR KALI WATSON, RETURNING OR KALI WATSON, RETURNING SON OF THE HAWAIIAN HOME TO HIS ROLE AS CHAIRPERTO HIS ROLEAND AS CHAIRPERLANDS COMMISSION DIRECTOR SON OF THE HAWAIIAN HOME SON OF THE HAWAIIAN HOME OF THE DEPARTMENT OF HAWAIIAN LANDS COMMISSION AND DIRECTOR LANDSLANDS COMMISSION AND DIRECTOR HOME FELT MUCH LIKE ASSUMOF THE DEPARTMENT OF HAWAIIAN OF THE OF HAWAIIAN ING THEDEPARTMENT STEERSMAN POSITION IN HIS HOME LANDS FELT MUCH LIKE ASSUMHOME LANDS FELT MUCH LIKE ASSUMFOUR-MAN CANOE. ING THE STEERSMAN POSITION IN HIS INGFrom THE STEERSMAN POSITION IN HIS 1995 to 1998, Watson FOUR-MAN CANOE. FOUR-MAN CANOE. served as chairperson under Gov-

From to Watson From 1995 to 1998, 1998,playing Watson ernor Ben1995 Cayetano, a key served as chairperson under Govserved as chairperson under Govrole in coordinating the developernor Ben Cayetano, playing key ernor of Ben Cayetano, playing aa lots key ment over 3,100 residential role in coordinating the developrole overseeing in coordinating themillion developand a $600 ment of residential ment settlement. of over over 3,100 3,100 residential lots state This includedlots and overseeing a $600 million and transfer overseeing a $600acres million the of 16,518 of state state This included state settlement. settlement.

This included lands to restore the trust.

During the transfer of 16,518 acres of state the transfer of 16,518was acres of in state this period, Watson vital lands to restore the trust.

During lands to restore trust.ofDuring the passage and the transfer more this Watson was in this period, period, Watson was vital vital in than 900 acres of federal lands the passage and transfer of more the passage and transfer of Lands more under the Hawaiian Home than federal than 900 900 acres acres of1995. federal lands lands Recovery Act ofof under the Hawaiian Home Lands under the Hawaiian Home Lands Two decades later, Watson is Recovery Act of 1995.

Recovery Act of 1995. riding a wave change: a transTwo later, Watson is Two decades decades later, Watson is formative infusion of $600 million riding a wave of change: a transriding a wave of change: transin general funds from thea Hawai‘i formative infusion of million formative infusionaimed of $600 $600 million State Legislature at accelerin general funds from the Hawai‘i in general funds fromunderfunded the Hawai‘i ating the historically State Legislature State department.

Legislature aimed aimed at at acceleraccelerstate ating the historically underfunded ating the historically underfunded state state department. department.

A surge of responsibility but nothing a skilled steersman can’t A A surge surge of of responsibility responsibility but but maneuver. nothing a skilled can’t nothing a skilled steersman can’tof a Although theysteersman sit at the back maneuver. maneuver. canoe, steersmen are recognized for they sit the of Although they sit at atThey the back back of aa theirAlthough leadership skills. expertly canoe, steersmen are recognized canoe, are recognized for read thesteersmen currents and guide their for their leadership skills. expertly their leadership skills. They They expertly crew through challenges, such as a read currents guide their read the the waitlist currentsofand and guide theirand growing over 29,000 crew through challenges, such as through challenges, suchscruas aa acrew department facing ongoing growing waitlist of over 29,000 and growing waitlist over 29,000 and tiny regarding itsofability to perform aeff department facing ongoing scrua department ectively. facing ongoing scrutiny regarding its ability perform tinyOver regarding its hundred ability to toyears, perform the last eff ectively. effectively. approximately 10,000 homesteads last years, Over the last hundred hundred years, haveOver beenthe established under the approximately 10,000 homesteads approximately 10,000 homesteads Hawaiian Homes Commission Act, have been under have been established established under the the an average of 100 per year.

Hawaiian Act, Hawaiian Homes Commission Act, In the Homes next fiveCommission years, Watson an average of 100 per year. an average of 100double per year. strives to nearly that figure.

In next fi years, Watson In the the next this five ve goal, years,Watson Watson To achieve strives to nearly double that gure. strives toonnearly double that fi fi28 gure. focuses the department’s To achieve this goal, Watson Tohousing achieve development this goal, Watson active projects focuses on the department’s focusesthe onpae the ‘āina department’s 28 across to award 28 7,500 active housing development projects active housing development projects project, residential, agricultural across the ‘āina to 7,500 across the pae pae ‘āinawhile to award award 7,500 and pastoral leases developproject, residential, agricultural project, ing moreresidential, than 3,000agricultural single-family and leases and pastoral pastorallots. leases while while developdevelophomestead ing more than 3,000 single-family ing more 3,000leadership single-family Since than assuming in homestead homestead lots.

March 2023,lots.

Watson’s accolades Since assuming Since to assuming leadership in continue swell asleadership he pushes in to March 2023, Watson’s accolades March 2023, Watson’s accolades revitalize initiatives that have been continue swell continue todecades. swell as as he he pushes pushes to to absent forto revitalize initiatives that have revitalize initiatives have been been This includes thethat allocation of absent for absent for decades. decades.

25 pastoral lots in Kahikinui, Maui, This includes the This includes the allocation allocationfiof of which marks the department’s rst 25 pastoral lots in Kahikinui, Maui, 25 pastoraloflots Kahikinui, Maui, selection suchinlots since the which the fi which marks marks theindepartment’s department’s first rst program began 1999. Additionally, selection of such lots since the selection such lots since the a 52 homesof were awarded nearly program in program began in 1999.

1999. Additionally, Additionally, year afterbegan the devastating wildfires 52 homes were awarded 52 Maui, homesmaking were awarded nearly in this the nearly island’saa first year devastating res year after after the the devastating wildfi res residential home offering wildfi in 17 years. in Maui, making this the island’s fi in Maui, makingIsland, this the first rst On Hawai‘i 68island’s agriculturresidential home off ering in 17 years. residential offering in 17 years. al lots werehome awarded in Maku‘u and On Island, On Hawai‘i Hawai‘i Island, 68 68 agriculturHonomū, representing theagriculturlargest al lots were awarded in al lots were awarded in Maku‘u Maku‘u and agricultural lot offering since theand Honomū, Honomū, representing representing the the largest largest late-1980s. agricultural off the agricultural lot offering ering since the Watson’slot time in thesince role has late-1980s. late-1980s. also featured several notable firsts.

Watson’s Watson’s time time in in the the role role has has also featured several notable also featured several notable fi firsts. rsts.

Like the awarding 15 first-of-itskind subsistence agricultural lots Like fi Like the the awarding awarding 15Island first-of-itsrst-of-itsin Pana‘ewa on Hawai‘i15 and kind subsistence agricultural lots kindgroundbreaking subsistence agricultural lots the of DHHL’s first in on Island in Pana‘ewa Pana‘ewa on Hawai‘i Hawai‘i Island and high-rise rental apartment, theand $155 the of DHHL’s fi the groundbreaking groundbreaking ofthat DHHL’s first rst million Hale Mō‘ili‘ili, stands as high-rise rental apartment, the $155 high-rise apartment, the $155 the state’srental only aff ordable housing million Hale that million exclusively Hale Mō‘ili‘ili, Mō‘ili‘ili, that stands stands as project serving DHHL as the state’s only aff ordable housing the state’s only affordable housing benefi ciaries. project exclusively serving project exclusivelythis serving DHHL Furthermore, year DHHL marks benefi ciaries. benefi ciaries. the start of project leases; this Furthermore, this year marks Furthermore,take this on year marks administration’s undivided the start of project leases; this the startlease of project leases; this in interest awards last issued administration’s take undivided administration’s take on onleases undivided the early 2000s. Project will interest lease awards last issued interest lease awards issued in in connect waitlisters tolast a particular the 2000s.

Project will the early early 2000s.and Project leases will place or project will leases be awarded connect waitlisters to connectthe waitlisters to aa particular particular before development of a homeplace or project and will be place or project and willstrategy be awarded awarded stead community.

This will before the development of beforenative the development of aa homehomeallow Hawaiian benefi ciaries stead community. strategy stead community.

This strategy will the opportunity toThis transfer theirwill allow native Hawaiian benefi allowto native Hawaiianheir benefi ciaries lease an approved whociaries meets the to their opportunity to transfer transfer their the opportunity 25% blood quantum criteria. lease to an approved heir who lease to an approved heirhomestead who meets meets Watson’s work with the quantum criteria. the 25% 25% blood bloodand quantum criteria. communities DHHL’s beneficiaWatson’s homestead Watson’s work work with homestead ry community isn’twith limited to time communities and DHHL’s communities and DHHL’s benefi beneficiaciaspent at the department. ry isn’t to ry community community isn’t limited limited to time time As the president and CEO of the spent the spent at at the department. department. native Hawaiian nonprofit Hawaiian As the and of As the president president and CEO CEO of the the Community Development Board native Hawaiian nonprofi t Hawaiian native Hawaiian nonprofi Hawaiian (HCDB), he worked with tNānākuli Community Development Board Community Development Board Hawaiian Homestead Commu(HCDB), he worked with Nānākuli (HCDB), he worked Nānākuli nity Association and with oversaw the Hawaiian CommuHawaiian Homestead Homestead Commudevelopment of the Nānākuli Village nity and the nity Association Association and oversaw oversaw the Center, and a 48-unit Hale Makana development the development ofordable the Nānākuli Nānākuli Village O Nānākuli affof housingVillage Center, and a 48-unit Hale Center, and a 48-unit Hale Makana Makana project.

O ordable housing O Nānākuli Nānākuli aff ordable housing Over theaff last 10 years, to expand project. project. reach into the private HCDB’s Over years, to Over the the last last 10 10areas, years,Watto expand expand non-homesteading HCDB’s reach into the private HCDB’s reach into the private son established successful HCDB non-homesteading areas, non-homesteading areas, WatWatpartnerships with various private son established successful HCDB son established successful housing HCDB developers of low-income partnerships with various private partnerships with various private tax credit projects primarily located developers of developers of low-income low-income housing on O‘ahu, Maui and Kaua‘i.housing tax projects primarily located tax credit credit projects primarily located Despite rising tides and shifting on O‘ahu, Maui and Kaua‘i. on O‘ahu,Watson Maui and Kaua‘i.on currents, remains Despite rising tides Despite rising tides and and shifting shifting course, eagerly anticipating the currents, Watson remains on currents, Watson on uncharted waters remains that lie ahead. course, course, eagerly eagerly anticipating anticipating the the uncharted waters uncharted waters that that lie lie ahead. ahead.

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N EW PROJ EC T AWAR D – CO M M E RCIAL /OTH E R OVE R 40,0 0 0 S F

Amazon Last-Mile Distribution Center Entrant: Swinerton Builders Developer/Owner: Amazon Corporate LLC Lead Design Firm: MG2 General Contractor: Swinerton Builders

T

HE NEW AMAZON LAST-MILE DISTRIBUTION CENTER,

located in Oahu’s port and industrial area, spans over 750,000 square feet. This facility receives packages by truck, sorts them in the warehouse, and loads them into vans for final deliv-

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ery. It features a state-of-the-art delivery station on the first floor, with 700 parking stalls across two additional levels. The center can accommodate 500 employees and 250 truck drivers. Designed to meet the demands of ecommerce and urban logistics, it address-

es Oahu’s limited construction footprint while providing efficient service in the island’s unique spatial environment.

2 0 2 5 K U K U L U H A L E AWA R D W I N N E R 2 0 2 5 K U K U L U H A L E AWA R D W I N N E R

N EW PROJ EC T AWAR D – CO M M E RCIAL /OTH E R OVE R 40,000 S F

Lima Ola – Senior & Multi-Family Housing Entrant: Unlimited Services, Inc. Lima Ola Construction – Senior & Multi-Family Housing Developer/Owner: AHE Group N EW PROJ EC T AWAR D – CO M M E RCIAL /OTH E R OVE R 40,000 S F

Entrant: Unlimited Construction Lead Design Firm: WRNS Studio Services, Inc. Developer/Owner: AHE Group General Contractor: Unlimited Construction Services, Inc. Lead Design Firm: WRNS Studio General Contractor: Unlimited Construction Services, Inc.

L L

IMA OLA IS A NEW MASTER-PLANNED COMMUNITY IMA OLA IS A NEW MASON THE WEST SIDE OF KAUAI TER-PLANNED COMMUNITY

offering much-needed affordable ON THE WEST SIDE OF KAUAI rental housing. Unlimited Conoffering much-needed affordable struction is proud to be a part of rental housing. Unlimited Conthe first phase of construction, struction is proud to be a part of which includes 40 senior housing the first phase of construction, which includes 40 senior housing

units within 9 buildings with a mix of one-bedroom apartments, units within 9 buildings with a flex room and community lanai mix of one-bedroom apartments, and 45 multifamily housing units flex room and community lanai within 12 buildings consisting of and 45 multifamily housing units one-, two- and three-bedroom within 12 buildings consisting of apartments, a ground level manone-, two- and three-bedroom agement suite and maintenance apartments, a ground level management suite and maintenance

space. These lots are part of the largest affordable housing develspace. These lots are part of the opment in Kauai during a time largest affordable housing develwhen affordable housing opment in Kauai during a time is critical. when affordable housing is critical.

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N EW PROJ EC T AWAR D – CO M M E RCIAL /OTH E R 40,0 0 0 S F O R LE S S

Kapalua Village Temporary Housing Entrant: Layton Construction Company LLC Developer/Owner: TY Management Corporation Lead Design Firm: Kasprzycki Designs, Inc. General Contractor: Layton Construction Company LLC

A

FTER THE DEVASTATING MAUI FIRES IN 2023, Layton Con-

struction, in partnership with TY Management Corporation, led the construction of 50 temporary modular homes in a philanthropic initiative to support the families affected by the tragic

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events. The first residents of the Kapalua Temporary Housing project took occupancy of their new homes on the one-year anniversary of the fires. Ranging from 2-4 bedrooms, each home is fully furnished, including appliances.

This project represents the power

of communities and organizations working together towards a common purpose to provide safe, temporary homes that will offer stability and hope to those who suffered losses.

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N EW PROJ EC T AWAR D – CO M M E RCIAL /OTH E R OVE R 40,000 S F

Manoa Marketplace Entrant: Alexander & Baldwin Developer/Owner: Alexander & Baldwin Lead Design Firm: JPRA Architects, Ltd. General Contractor: Honolulu Builders

F

OR MORE THAN SIX DECADES MANOA MARKETPLACE HAS BEEN A VIBRANT HUB FOR

SHOPPING, DINING, AND COMMUNITY GATHERINGS, evolving alongside

the multi-generations of Manoa Valley. A recent renovation revitalized the center with enhanced

walkability, connectivity, refreshed architecture, and expanded public spaces, including a new central staircase, shaded seating, and a lively plaza featuring a keiki play area, seasonal events, and a thriving farmers’ market. A striking new mural honors Manoa’s

cultural heritage, reinforcing its deep community ties. Through thoughtful design, Manoa Marketplace remains a welcoming neighborhood center for residents, businesses, and visitors for generations to come.

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R E N OVATI O N AWAR D – CO M M E RCIAL /OTH E R 40,0 0 0 S F O R LE S S

The Queen’s Medical Center Same Day Surgery Entrant: Design Partners Incorporated Developer/Owner: The Queen’s Healthcare Systems Lead Design Firm: Design Partners Incorporated General Contractor: Gateside Inc.

T

HE QUEEN’S MEDICAL CENTER WEST OAHU, IN RESPONSE TO PRESSURES OF THE COVID-19

PANDEMIC AND THE AFTERMATH, RESPONDED TO COMMUNITY PRESSURES WITH DEFERRED AND GROWING HEALTHCARE NEEDS IN WEST OAHU. The Same Day Surgery

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or outpatient surgery facility relieved the pressures on facilities reserved for more acute or severe patients. The Same Day Surgery project expanded needed Healthcare services in West Oahu as well as optimized existing higher care for those in need. The

well-planned well-designed space is an asset to the community and furthers the goal for quality and needed healthcare services for the growing West Oahu community.

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PU B LI C/GOVE R N M E NT PROJ EC T AWAR D

Daniel K. Akaka VA Clinic Entrant: Hunt Companies Hawai‘i Developer/Owner: Hunt Companies Hawai‘i Lead Design Firm: Ferraro Choi and Associates General Contractor: Nan, Inc.

T

HE DANIEL K. AKAKA VA CLINIC IS A $130 MILLION, 88,675-SQUARE-FOOT

MULTI-SPECIALTY OUTPATIENT

CLINIC IN KALAELOA TOWN; nearly 17,000 veterans live in West O‘ahu, which boasts the highest concentration of veterans in the

VA’s service area. The Akaka VA Clinic provides primary and mental health care, X-ray, laboratory and diagnostic services, pharmacy and specialty care for over 55,000 enrolled veterans in the Pacific area. Hunt Companies Hawai‘i is the project developer and owner;

the U.S. Department of Veterans Affairs leases the facility, which earned Two Green Globes from the Green Building Initiative.

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N O N PRO FIT PROJ EC T AWAR D

Hale Nā Koa ‘O Hanakahi Entrant: EAH Housing Developer/Owner: EAH Housing / Hilo Na Koa LP Lead Design Firm: Design Partners General Contractor: Maryl Group Construction, Inc.

H

ALE NĀ KOA ‘O HANAKAHI IS A TESTAMENT TO RESILIENCE, SERVICE AND INNOVATION IN

AFFORDABLE HOUSING. Designed to

honor and support Hawaii’s seniors and veterans, this 91-unit community in the heart of Hilo provides high-quality, affordable homes

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and a thriving, connected environment where residents can live with dignity and security. A result of a visionary partnership with HIVM, the project prioritizes sustainability, community engagement, and wellness. It integrates LEED Gold-certified green building strategies, walk-

able access to essential services, and activities organized by EAH’s resource coordinator, all within a vibrant, campus-style setting.

HNK is a model for purpose-driven development, demonstrating that affordability and sustainability can go hand in hand.

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G R E E N B U I LD I N G AWAR D

Hōkūao Entrant: Albert C. Kobayashi, Inc. Developer/Owner: Pūlama Lāna‘i Lead Design Firm: Urban Works LLC General Contractor: Albert C. Kobayashi, Inc.

H

ŌKŪAO IS A SINGLE-FAMILY RESIDENTIAL PROJECT IN LANAI CITY THAT WAS

DEVELOPED ON 76 ACRES OF FORMER PINEAPPLE LAND. Envisioned as a

place where families can grow and flourish, the project provides 150 affordable rental homes for the

island residents and workforce.

The development incorporates sustainable principles to provide environmental stewardship and energy efficiency to preserve the island’s history and culture while meeting critical housing needs.

The homes feature energy effi-

cient appliances and up-to-date interior materials and finishes that are sustainable and create a sense of community.

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ENGIN EERING FIRM OF TH E YEAR

R.M. Towill Corporation

2

N

AIOP HAWAII IS PLEASED TO RECOGNIZE R. M. TOWILL

4 1

CORPORATION (RMTC) FOR

ITS WIDE-RANGING CONTRIBUTIONS TO HAWAII’S INFRASTRUCTURE AND BUILT ENVIRONMENT. DRIVEN BY A MISSION TO PROVIDE INNOVATIVE AND SUSTAINABLE SOLUTIONS TO MEET THE UNIQUE CHALLENGES OF OUR ISLAND COMMUNITIES, RMTC IS ONE OF THE OLDEST AND LARGEST KAMAAINA ENGINEERING FIRMS IN THE STATE WITH ROOTS DATING BACK TO 1930.

Over its 95-year history, RMTC has completed more than 20,000 projects in Hawaii and throughout the Pacific Rim, providing integrated professional services in civil and wastewater engineering, surveying and mapping, planning and permitting, and construction management. The company’s current work includes projects for county, state, and federal agencies; Hawaii’s major land developers, including 104 | J U LY 2 0 2 5

Avalon, Brookfield, Castle & Cooke, DR Horton, Gentry, Haseko, Hunt Companies, James Campbell Company, Lanihau, Kamehameha Schools, Kobayashi Group, Pulama Lanai, Stanford Carr and WH Shipman; as well as top local architectural firms, contractors, and real estate brokers.

RMTC’s enduring success is attributed to the company’s good relationships in the community, trustworthy reputation, high quality work, and exceptional client service, explains Greg Hiyakumoto, who has spent his entire career at RMTC and has served as its president for the past

3 12 years. “We are truly grateful to our clients for the opportunity to serve Hawaii’s best,” he says. “Our focus has always been on bringing success to our clients, maintaining a genuine commitment to doing what is right, staying humble, and offering steadfast support through every situation—big or small.”

As a Hawaii-owned and operated company, RMTC also strives to remain connected and involved in the local community through its philosophy of “Sharing, Caring, and Giving.” Staff members contribute their time and talent to a Rece nt Award-Winning Proj ects

1

wide array of professional associations, non-profit groups, and social service clubs that support community needs and wellbeing. Additionally, the R. M. Towill Foundation, a charitable non-profit entity incorporated in 2004, provides grants to Hawaii public schools and contributions for literary, educational, historical, cultural, and scientific purposes.

Together, RMTC and its foundation have donated more than $3 million to various nonprofit and educational institutions over the past decade.

The company’s 95-year legacy of success is a testament to the leadership and commitment of those who came before me,” said Hiyakumoto. “They were all remarkable, visionary leaders who

Kapalama Container Terminal Yard Design, Oahu 2023 ACECH Grand Conceptor Award (Photo courtesy of Kiewit Infrastructure Group)

2 Interstate Route

H-1 Shoulder Work and PCC Pavement Rehabilitation, Oahu 2020 ACECH Excellence Award

3

navigated the company in very challenging times and skillfully adapted to the evolving business and social landscapes of their eras.”

Today, the company builds upon that legacy by prioritizing humility and integrity over short-term gains, Hiyakumoto says. “We believe that true success comes from contributing quietly and meaningfully to our community and in supporting our people. We remain committed to carrying this philosophy into the future.”

Honouliuli Wastewater Treatment Plant, Phase 1B, Oahu 2025 ACECH Grand Conceptor Award.

4

Lilia Waikiki, Oahu ENR California Region (including Hawaii) 2022 Best Projects Award of Merit

H AWA I I B U S I N ES S | 105

DISTINGUISHED ENTRIES (I N ALPHAB ETI CAL O R D E R)

Central Pacific Bank Kahului Entrants: Next Design and Nordic PCL Construction, Inc. Developer/Owner: Central Pacific Bank Lead Design Firm: Next Design General Contractor: Nordic PCL Construction, Inc.

Grand Wailea Humuhumunukunukuapua‘a Entrant: Nordic PCL Construction Inc. Developer/Owner: BRE Hotels & Resorts Lead Design Firm: G70 General Contractor: Nordic PCL Construction Inc.

Kulanihako‘i High School Entrant: G70 Developer/Owner: Hawaii State Dept. of Education Lead Design Firm: G70 General Contractor: Nordic PCL Construction, Inc.

Cottages at Mauna ‘Olu Entrant: American Savings Bank Developer/Owner: Stanford Carr Development Lead Design Firm: Alakea Design Group LLC General Contractors: Coastal Construction Company and JJS Construction

Hawaii Pacific University Academic Sciences Building Entrant: Dean Sakamoto Architects, LLC Developer/Owner: Avalon Development Lead Design Firm: Dean Sakamoto Architects, LLC General Contractor: Albert C. Kobayashi, Inc.

Marriott Vacation Club King Kalakaua Plaza, Waikīkī Entrants: G70 and Nordic PCL Construction, Inc. Developer/Owner: Marriott Vacation Club International Lead Design Firm: G70 General Contractor: Nordic PCL Construction, Inc.

Kaulana Mahina Entrant: Moss & Associates Developer/Owner: BIT Wailuku LLC Lead Design Firm: Clifford Planning & Architecture LLC General Contractor: Moss & Associates

Maui Coast Hotel Expansion Entrant: Layton Construction Company LLC Developer/Owner: Paramount Hotels/Pacific Rim Land, Inc. Lead Design Firm: WATG General Contractor: Layton Construction Company LLC

DreamHouse Center Entrant: Design Partners Incorporated Developer/Owner: Avalon Group Lead Design Firm: Design Partners Incorporated General Contractor: Honolulu Builders

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DISTINGUISHED ENTRIES

Outrigger Waikīkī Beachcomber Showroom Entrant: G70 Developer/Owner: Outrigger Hospitality Group Lead Design Firm: G70 General Contractor: Swinerton

Victoria Place Entrant: Ward Village The Howard Hughes Corporation Developer/Owner: The Howard Hughes Corporation Lead Design Firm: Solomon Cordwell Buenz General Contractor: Hawaiian Dredging Construction Company

About NAIOP Hawaii

Outrigger Waikīkī Paradise Hotel Entrant: G70 Developer/Owner: Outrigger Hospitality Group Lead Design Firm: G70 General Contractors: Elements Hospitality; Swinerton Builders; Elliott Construction Group

N

AIOP, THE COMMERCIAL REAL ESTATE DEVELOPMENT ASSOCIATION, IS THE LEADING ORGANIZATION FOR DEVELOPERS, OWNERS AND INVESTORS OF OFFICE, INDUSTRIAL, RETAIL AND MIXED-USE COMMERCIAL REAL ESTATE.

NAIOP comprises 21,000+ members and provides strong advocacy, education and business opportunities through a powerful North American network. Its sister organization, the NAIOP Research Foundation, is one of the industry’s leading think tanks dedicated to conducting research assessing the trends, economic viability and needs of the built environment.

The Hawai‘i Chapter of NAIOP was chartered in 1988 and began with only a handful of members. Today, the chapter has more than 230 members, including many of Hawai‘i’s most influential developers, owners, investors, lenders, designers, attorneys, asset managers and other industry leaders. As the recognized forum for current issues that impact commercial real estate in Hawai‘i, NAIOP Hawaii strives to play an active role in our members’ professional development by sharing information on best practices, legislation and the latest developments in the real estate community and by providing numerous opportunities for networking at both the local and national levels.

CONTACT US: Romer House Waikiki Entrant: Benjamin Woo Architects Developer/Owner: Highgate Hotels Lead Design Firms: Indidesign / Benjamin Woo Architects General Contractor: Albert C. Kobayashi, Inc.

NAIOP Hawaii PO Box 1601 Honolulu, HI 96806 Barbie M.W. Rosario, Executive Director barbie@naiophawaii.org www.naiophawaii.org

H AWA I I B U S I N ES S | 107

C H A P T E R AWA R D S 2024 M E M B E R CO M PANY

2024 M E M B E R O F TH E YEAR

O F TH E YEAR

JEREMY SHORENSTEIN’S COMMITMENT TO IMPROVING OUR COMMUNITY THROUGH INCREASING THE VOLUME AND QUALITY OF AFFORDABLE HOUSING IN OUR STATE IS EXEMPL ARY. He is a

AMERICAN SAVINGS BANK CONTINUES TO STAND OUT AS A STEADFAST AND VALUED PARTNER OF NAIOP HAWAII.

A heartfelt mahalo to Tony Mizuno, Kiley Nakamura, and the entire ASB team for their unwavering support and generous corporate sponsorship each year. Tony’s leadership as Board treasurer has been instrumental in keeping the chapter’s budget on track for years. Kiley’s contributions both as co-chair of the programming committee and a Kukulu Hale juror are truly appreciated.

108 | J U LY 2 0 2 5

Jeremy Shorenstein Planning and Development Manager II Kamehameha Schools

learned student of the legislative process and plays an integral role in connecting the chapter’s Developing Leader members with the legislative efforts of our Government Affairs Committee. He is an example for younger NAIOP members of how to lead with positive energy and professionalism.

2024 D EVE LO PI N G LEAD E R M E M B E R O F TH E YEAR AS 2024 CO-CHAIR OF NAIOP HAWAII’S DEVELOPING LEADERS STEERING COMMITTEE, ELLEN ASHFORD DEMONSTRATED EXEMPL ARY LEADERSHIP AND MANAGEMENT. She put together outstanding programs for our DL members and helped grow our young leader membership by nearly 30 percent last year.

Ellen Ashford Associate Cades Schutte

H AWA I I B U S I N ES S | 109

N A I O P H AWA I I 2 0 2 5 C O R P O R AT E S P O N S O R S AS O F APR I L 11 , 202 5

Nordic PCL Construction PRP The RMR Group Swinerton

PL ATI N U M S PO N SO R S

American Savings Bank CBI Inc. Honblue Imanaka Asato LLLC Koa Maintenance & Cleaning Moss and Associates NAREIT Hawaii Riggs Distributing Settle Meyer Law

S I LVE R S PO N SO R S

GO LD S PO N SO R S

A.C. Kobayashi, Inc. Ahe Group Alexander & Baldwin Alliant Bank of Hawaii BlackSand Capital LLC Cades Schutte LLP Castle & Cooke Homes Hawaii, Inc. Central Pacific Bank First Hawaiian Bank Hawaiian Dredging Construction Company Hensel Phelps Construction Co. hi-arch-y llp Hunt Companies, Inc. James Campbell Company Kamehameha Schools Maryl Group Construction, Inc. MW Group, Ltd.

N A I O P H AWA I I 2 02 5 B OA R D O F D I R EC TO RS PR E S I D E NT

Reyn Tanaka WKF, Inc. PR E S I D E NT- E LEC T

Ken Hayashida KAI Hawaii, Inc. S ECR ETARY

George Leong First Hawaiian Bank TR E ASU R E R

Tony Mizuno American Savings Bank

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Atlas Insurance Agency Carlsmith Ball LLP Concrete Coring Company Cushman & Wakefield ChaneyBrooks Design Partners, Inc. D.R. Horton Hawaii G70 Guerin Glass Architects Hawaii Worksite Services Hawaiiana Management Company Highridge Costa Honolulu Builders J. Uno & Associates KAI Hawaii, Inc. Koga Engineering & Construction Laulima Hawaii Lowney Architecture Matson Nan, Inc. Pacific Appliance Group Rider Levett Bucknall SSFM International

I M M E D IATE PA ST PR E S I D E NT

Jennifer Camp hi-arch-y llp S ECO N D PA ST PR E S I D E NT

Cathy Camp Central Pacific Bank NATI O NAL BOAR D R E PR E S E NTATIVE

Todd Apo Hawai‘i Community Foundation NAI O P HAWAI I EXECUTIVE D I R EC TO R

Barbie Rosario

TCA Architects, Inc. Unlimited Construction Services, Inc. The Wilhelm Group WKF, Inc. WRNSStudio B RO NZE S PO N SO R S

Colliers International Hawaii Commercial Asset Advisors Cumming-Group Finance Factors Ford & Associates, Inc. General Contractors Association of Hawaii Hawaiian Electric HC&D Island Energy Services Layton Construction Company LLC MacNaughton Old Republic Title & Escrow PBR Hawaii Pulama Lanai R.M. Towill Corporation Royal Contracting Title Guaranty of Hawaii, Inc.

D I R EC TO R S

Daniel Cody MW Group Ltd. Kawika Fiddler Bank of Hawaii Francisco Gutierrez Alexander & Baldwin Larry Heim HONBLUE Inc. Mitchell Imanaka Imanaka Asato LLLC Doug Johnstone The Howard Hughes Corporation Glen Kaneshige Nordic PCL Construction

Steve Kelly James Campbell Company LLC Serge Krivatsy Kamehameha Schools Bryan Li BlackSand Capital LLC Scott Settle Settle Meyer Law LLC D EVE LO PI N G LE AD E R S CO - CHAI R S

Keegan Flaherty ‘Ikenākea Development Evan Oue Imanaka Asato LLLC

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The Women Entrepreneurs Conference 2025 brought together a dynamic community of women leaders, innovators, and changemakers.

Focused on empowering women entrepreneurs, the event featured keynote addresses from Rose Wang, COO of Bluesky and former CEO of Chirps, and Lori Teranishi, founder and CEO of IQ360. Attendees gained valuable insights through breakout sessions covering topics such as funding fundamentals, scaling businesses beyond Hawai‘i, and strategies for successful business exits. The conference fostered meaningful connections and provided actionable strategies to help women entrepreneurs thrive in today’s competitive landscape.

Mahalo to Our Sponsors & Partners!

“The 2025 Women Entrepreneurs Conference has once again proven how vital it is to bring women together to support and uplift each other’s business ventures. This incredible gathering creates a powerful community where ideas flourish, challenges are overcome, and success becomes a shared journey. By providing access to expert knowledge, networking opportunities, and practical resources, the conference empowers women entrepreneurs to confidently grow their businesses and break new ground. It’s inspiring to see how collaboration and encouragement among women can transform the economic landscape of Hawaii and beyond. Events like this are essential in fostering a diverse, thriving economy where every woman has the opportunity to succeed.”

— CATHERINE NGO, FORMER PRESIDENT & CEO, BOARD MEMBER , CENTR AL PACIFIC FINANCIAL CORP.

PR ESE N TIN G S P O N S O R S

“It was an incredible honor to moderate the ‘Sources of Capital’ panel at the Women Entrepreneurs Conference in Honolulu. The energy and insights from Hawaii’s powerhouse leaders, all dedicated to uplifting our entrepreneurial ecosystem, were truly inspiring. MX is so proud to support events like this that foster such vibrant discussions and connections, empowering women entrepreneurs. A profoundly positive and motivating experience!”

SU PPO RTIN G S P O NS O R S

SIG N AG E SP O N S O R

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— MAISIE BILOT TI, SENIOR DIRECTOR , ADVOCACY, MX

H OT E L S P O N S O R

“Supporting women entrepreneurs is more than good business, it’s essential to building a stronger, more inclusive Hawai‘i. Mahalo to Hawaii Business Magazine for bringing us together for another incredible Women Entrepreneurs Conference. Hearing the stories of fellow women leaders is a powerful reminder of the strength found in community and shared experiences. At ALTRES, I’m proud to be part of a team who champions women-led businesses. It’s an honor to both sponsor and participate in this impactful event.”

— R AQUEL GUSS, DIRECTOR OF STR ATEGY - ALTRES

”Alaska Airlines and Hawaiian Airlines are proud to support the Women Entrepreneurs Conference because we believe in empowering local wāhine to reach new heights. This conference uplifts women business owners by offering critical tools—access to capital, financial management, and revenue growth strategies—while fostering connections and inspiration. As airlines rooted in community and driven by innovation, we know that when women succeed, our local economies thrive.

Together, we’re helping women entrepreneurs soar toward a stronger, more connected future.”

—AL ASK A AIRLINES AND HAWAIIAN AIRLINES

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PA R T I N G

S H O T

LOCATION: HONOLULU

BY RYA NN NO E LA NI CO ULE S

| PHOTOGRAPHER: AARON YOSHINO

Timeless Threads HARBORS VINTAGE, A STORE SPECIALIZING IN APPAREL AND GOODS FROM THE ’00S AND EARLIER, started as a

passion project, says owner and founder Arik Ma. He says that while thrift stores were easy to find back in 2016, there weren’t “really a lot of options for vintage clothing or streetwear in Hawai‘i. So I was like, ‘Oh, this could be a good opportunity.’ ” He launched the business with pop-up events before establishing a store in 2018 in Kaimukī. He later relocated to South Beretania Street in Makiki and subsequently opened a second location at the Royal Hawaiian Center in Waikīkī. Ma says he accumulates stock in many ways, but most of it comes from people who bring their vintage clothes and streetwear to him. “They’re just excited that someone else will also get a kick out of wearing it or enjoying it,” he says.

Harbors Vintage also facilitates trades that can be based on customers’ evolving needs. For instance, streetwear enthusiasts just entering professional life can exchange their duds for aloha shirts and office apparel. Or people who collect a lot of sneakers then have a baby, Ma says. “So they sell the shoes and now they’re looking for vintage baby clothes. It’s nice to see customers at different points of their life.” harbors-vintage.myshopify.com

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SPECIAL PROMOTIONAL SECTION

Creating Change through Creativity YO U T H S FAC I N G L I F E C H A L L E N G E S L E A R N T O E X P R E S S T H E M S E LV E S A N D H E A L T H R O U G H A R T S E D U C AT I O N , T H A N K S T O A M U S E U M W I T H O U T WA L L S G R A N T.

A

profit organization Residential Youth Services & Empowerment (RYSE), to WHO ARE FACING CHALLENGES IN bring the transformative power of art THEIR LIVES CAN STOP BY TO RECEIVE FREE to young people.

SUPPORT SERVICES , including hot showers “I use art as a tool to connect with and meals, laundry facilities, clothing, people,” Fatiha says. “I like for it to as well as referrals to stable housing, be a conversation. I don’t like making medical and mental health care, and art alone; I’m much more interested in counseling. This past fall, they also had having someone sit down with me, start the opportunity to get somecreating, and suddenly I’m “We’ve always learning so much about thing you might not expect: believed art classes taught by a La their creativity and who Sorbonne-educated artist. that healing and they are.”

Fatiha Kheddaoui is a Fatiha says one of her self-expression teaching artist originally art projects during the are powerful from France with a wide residency was to have range of skills including tools in a young youth take a basic backscreen printing, drawing, person’s journey.” pack and add to it using bronze casting, painting, whatever art supplies they -CARLA HOUSER, RYSE EXECUTIVE DIRECTOR ceramics, and video. She wanted—whether paint or has years of experience stitching or applique—to teaching K-through-12 and tell a story about themart residencies in France and Panama, selves and their lives. “Some of them and has exhibited her work extensively started very cute, very nice,” she says, around the world. Now in Hawai‘i, she “but over the course of a few sessions, created an art residency with nonas we started to build trust with them, T THE RYSE HAWAI‘I SHELTER IN KAI LUA, YOUTH AND YOUNG ADULTS

they started to open up and incorporate more of the realities from their lives, the challenges they’re facing. It was amazing to see them progress.”

Carla Houser, executive director at RYSE, says Fatiha’s art workshops gave their youths much-needed space to imagine, reflect, and create. “We’ve always believed that healing and self-expression are powerful tools in a young person’s journey,” she says.

“RYSE youths not only developed new skills but also built confidence and connection.”

Fatiha’s art residency was made possible through funding from the Museum Without Walls Arts Education Initiative, a grant program at the Hawai‘i Community Foundation (HCF) in partnership with the Hawai‘i State Foundation on Culture and the Arts focused on increasing access to arts education in Hawai‘i. The initiative supports residencies focused on the fine arts targeted to reach participants and communities that experience barriers or challenges to accessing arts education.

Fatiha says she aspires to expand this kind of art residency to other schools and organizations throughout O‘ahu and Hawai‘i, along with other teaching artists, so that everyone has an opportunity to learn and connect with art, and to unlock their creativity.

However, with the current, volatile situation with U.S. federal and state budget cuts, future funding for arts education programs like Museum Without Walls could be in jeopardy.

Elise von Dohlen, HCF’s Arts and Culture program director, says, “The impact of this program exemplifies the power of the arts to provide a safe space for healing and connection. There is an even greater need for arts education in communities across Hawai‘i.”

T O L E A R N M O R E A B O U T T H E W O R K B E I N G S U P P O R T E D BY H C F T H R O U G H T H E C H A N G E F R A M E W O R K , V I S I T H AWA I I C O M M U N I T Y F O U N D AT I O N . O R G/C H A N G E .

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