Business Roundup: Bank of Hawai‘i honored, new stores opening at Kings’ Shops, building industry awards

Business news from around the Big Island and state:

Bank of Hawai‘i named one of America’s best regional banks and credit unions

Newsweek awarded Bank of Hawai‘i the highest 5-star rating on its 2026 list of America’s Best Regional Banks & Credit Unions.

The list honors institutions making a meaningful difference in their communities.

“We’re humbled to receive this recognition from Newsweek because it speaks to the enduring relationships we’ve built with the families and businesses of Hawaiʻi and the West Pacific,” said Peter Ho, chairman and CEO of Bank of Hawai‘i. “It’s an honor to know the trust our customers place in Bank of Hawai‘i and we’re grateful to support them, now and for future generations.”

The ranking draws on one of the most comprehensive studies of its kind, incorporating feedback from more than 140,000 respondents. Newsweek’s analysis included an extensive survey of more than 66,000 U.S. customers in several categories such as customer service, perks and benefits and fees and interest rates.

Survey data also combines more than 2.3 million social media reviews and more than 8 million app store reviews from Apple and Google Play.

New store openings announced at Kings’ Shops

Kings’ Shops in Waikōloa announced a few new store openings.

Manta Jewelry opened in November and features fine jewelry inspired by manta rays and marine life of Hawaiʻi Island.

Happy Wahine, a local handbag and accessories brand, is scheduled to open in January 2026 with bags, wallets and travel accessories in island-inspired prints.

Art studio and boutique Paint Aloha offers island-inspired artwork and creative experiences. It is also scheduled to open early next year.

Visit the Kings’ Shops website for additional information.

Retail Merchants of Hawaiʻi names Erdman interim president, CEO

Dave Erdman will be interim president and chief executive officer of Retail Merchants of Hawaiʻi, taking on the position in January 2026.

Erdman — who has been involved with Retail Merchants of Hawai’i for more than 30 years and served as a member of its executive committee and board of directors — will carry the organization through its leadership transition while the search continues for a permanent president and chief executive officer.

“We are confident that Dave’s deep experience and long-standing commitment to [Retail Merchants of Hawaiʻi] will provide steady leadership during this important transition,” said Retail Merchants of Hawaiʻi Board Chairman Darcy Lindamood in a release about Erdman’s appointment.

Erdman is widely recognized as an industry innovator and respected leader. He previously served as founder, president and chief executive officer of PacRim Marketing Group/Vector USA and PRTech, where he led the companies through significant growth throughout more than 3 decades.

His work focused on strategic media communications and public relations, digital marketing and business development. He also has served in leadership for several community and business organizations.

“Now more than ever, Hawai‘i’s resident retail and retail tourism sectors need a strong, unified
voice,” said Erdman in the release. “I am honored to serve [Retail Merchants of Hawaiʻi] members during this transition and look forward to working collaboratively with the board, members, the business community and our government leaders to advance our shared mission.”

Hawaiian Council, Ko ʻOlina unveil cultural framework to advance new tourism model

Hawaiian Council, Hawai‘i’s largest Native Hawaiian-led organization dedicated to cultural, economic and community advancement, unveiled a cultural framework developed with Ko ʻOlina to advance a new tourism model in the islands.

“As Native Hawaiians, our culture holds the stories, truths and responsibilities of this place — our island home,” said Hawaiian Council and Chief Executive Officer Kūhiō Lewis in a release about the new framework. “What we are building with Ko ʻOlina is far more than a set of programs. It is a cultural foundation that restores dignity to our traditions, opens doors for our people and ensures that Hawaiian stories are told by Hawaiian voices.”

The framework guides how culture, hospitality and community benefits are woven throughout Ko ʻOlina, ensuring the resort’s long-term vision is grounded in Native Hawaiian leadership and stewardship. It creates experiences where visitors and residents feel connected, represented and rooted in a true sense of place.

A central element of the new framework is the Piko of Ko ʻOlina, an 18-acre oceanfront cultural preserve adjacent to the royal grounds of Lanikūhonua in Kapolei, O‘ahu.

Envisioned as the cultural and spiritual foundation of the resort, the Piko will guide future development decisions and provide a gathering place where cultural practitioners, families and visitors can engage with Hawaiian values, history and storytelling.

With the planned closure of Paradise Cove Lū‘au in December, Ko ʻOlina and its resort partners Aulani, Four Seasons and Marriott are supporting a new cultural performance residency created and led by the Hawaiian Council. Two major productions are planned for 2026

These productions reflect a broader effort to build a culture-centered resort that benefits residents and visitors alike.

Workforce development programs will elevate local talent for careers in hospitality, arts and entertainment, while new opportunities for small businesses and cultural practitioners will support a more inclusive resort economy.

Hands-on cultural enrichment is also a key element of the framework, with several programs under development.

The Hawaiian Council and Ko ʻOlina are also collaborating to reimagine Ko ʻOlina Marina as the Marina Entertainment District — a world-class, culturally grounded district designed to generate jobs, support local businesses and create a vibrant gathering place where culture, arts, education and entertainment come together.

Building Industry Association of Hawai‘i announces Industry Award winners

Building Industry Association of Hawai‘i honored its 2025 Industry Award winners, celebrating outstanding members and community leaders whose exceptional contributions continue to elevate the standards of Hawai‘i’s building industry.

“As [Building Industry Association of Hawai‘i] celebrates its 70th anniversary, this year’s award winners stand as an extraordinary class of building industry professionals whose dedication elevates our entire industry,” said Building Industry Association of Hawai‘i Chief Executive Officer Roseann Freitas in a release about this year’s awardees. “Their work not only shapes the communities we live in, but also inspires us daily to pursue excellence.”

Industry Award winners:

• 2025 Lifetime Achievement Award: Karen Nakamura.
• 2025 Builder of the Year: Chad Hilweh (Hilweh Construction).
• 2025 Associate of the Year: Kamuela Potter (Inspired Closets Hawai‘i).
• 2025 Developer of the Year: Marc Rinker (Gentry Homes).
• 2025 Specialty Contractor of the Year: Clifton Crawford (Pacific AquaScapes).
• 2025 Supplier of the Year: Kevin Murray (PHAD Home Appliance).
• 2025 Affiliate of the Year: Jacob Karasik (Gentry Homes).
• 2025 President’s Choice: Geena Thielen (Complete Construction Services Corp.).
• 2025 Kokua Nui Award: Ramona Mullahey (U.S. Department of Housing and
  Urban Development).

Bank of Hawai‘i employees raise $623K for local nonprofits

Bank of Hawai‘i employees and retirees raised $623,000 during the 2025 Live Kōkua Giving Campaign, the bank’s biggest annual giving event, for Aloha United Way. The 15th annual campaign supported a wide range of local organizations, including more than 300 Aloha United Way partner nonprofits.

Employees raised more than $9.4 million for nonprofits throughout Hawaiʻi and the West Pacific since the campaign launched in 2010.

The bank’s four employee resource groups and the Live Kōkua Giving Campaign team this year selected organizations to receive proceeds from corporate events:

• U.S. VETS Hawaiʻi.
• Hawaiʻi Health & Harm Reduction Center.
• ʻAha Pūnana Leo.
• Domestic Violence Action Center.
• Child & Family Service.
• Girl Scouts of Hawaiʻi.
• Junior Achievement of Hawaii.

“I’m truly inspired by the generosity and passion our bank ‘ohana brings to this effort,” said Bank of Hawai‘i Chairman and Chief Executive Officer Peter Ho in a release about the fundraiser. “This campaign reflects the heart of our team, and it’s amazing to see everyone come together to uplift the nonprofits doing vital work in our communities.”