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FeedHawaii's Most Profitable Companies 2012
First Hawaiian Bank is Hawaii's most profitable company and Bank of Hawaii is No. 2, both for the second year in a row
By Dennis Hollier
(page 1 of 6)
A look at what fed or ate away at the bottom line
Well-run and innovative companies are usually profitable, while mismanaged and stagnant companies often lose money and go out of business. That’s easy to understand. But equally important are forces outside a company’s control, including energy prices, unemployment and interest rates. How an organization responds to these outside forces makes a huge impact on the bottom line. For this report on Hawaii’s most profitable companies, we dove into financial statements and talked with more than a dozen business leaders to understand how their companies responded to their unique situations, and how that affected their bottom lines.
| Profit Rank | Top 250 Rank | Company Name | Net Income/Loss (2011) | Profit as % of revenue |
|---|---|---|---|---|
| 1 | 11 | First Hawaiian Bank | $209,030,000 | 30% |
| 2 | 12 | Bank of Hawaii Corp. | $160,000,000 | 25% |
| 3 | 1 | Hawaiian Electric Industries Inc. | $138,230,000 | 4% |
| 4 | 2 | Hawaii Medical Service Association (HMSA) | $44,960,000 | 2% |
| 5 | 7 | Hawaii Pacific Health | $44,229,585 | 5% |
| 6 | 33 | Central Pacific Financial Corp. | $42,377,000 | 24% |
| 7 | 3 | Alexander & Baldwin Inc. | $34,200,000 | 2% |
| 8 | 8 | Queen’s Medical Center | $32,725,000 | 5% |
| 9 | 18 | Hawaiian Telcom | $26,155,000 | 7% |
| 10 | 98 | Xerox Hawaii* | $24,000,000 | 34% |
| 11 | 87 | Hale Koa Hotel* | $17,989,600 | 23% |
| 12 | 36 | First Insurance Co. of Hawaii Ltd. | $14,916,000 | 8% |
| 13 | 95 | Zephyr Insurance Co. Inc. | $13,000,000 | 72% |
| 14 | 102 | Territorial Savings Bank | $12,789,000 | 19% |
| 15 | 124 | Stoebner Holdings Inc.* | $12,428,024 | 24% |
| 16 | 50 | Board of Water Supply | $12,394,000 | 7% |
| 17 | 111 | HawaiiUSA Federal Credit Union | $11,600,000 | 19% |
| 18 | 38 | Kauai Island Utility Cooperative* | $9,656,872 | 5% |
| 19 | 65 | Island Insurance Company, Ltd. | $9,347,055 | 8% |
| 20 | 160 | Hawaii Employers’ Mutual Insurance Co. | $8,219,716 | 24% |
| 21 | University Health Alliance (UHA) | $7,269,927 | 5% | |
| 22 | 76 | Pacific Guardian Life Insurance | $6,986,901 | 8% |
| 23 | 199 | Wells Fargo Home Mortgage of Hawaii LLC* | $6,545,821 | 30% |
| 24 | 167 | Windward Auto Sales Inc.* | $6,082,828 | 20% |
| 25 | 128 | Hawaii State Federal Credit Union | $5,365,634 | 11% |
| 26 | 6 | Kaiser Permanente Hawaii | $4,919,790 | 0.5% |
| 27 | 92 | Farmers Insurance Hawaii Inc.* | $4,287,946 | 6% |
| 28 | 213 | HawaiianTel Federal Credit Union | $4,266,172 | 20% |
| 29 | 136 | Chaminade University | $4,215,000 | 10% |
| 30 | 183 | Catholic Charities Hawaii* | $4,210,000 | 15% |
| 31 | 228 | HFS Federal Credit Union | $3,623,230 | 16% |
| 32 | 215 | University of Hawaii Federal Credit Union | $3,014,135 | 18% |
| 33 | 172 | Hawaii Foodbank Inc.* | $2,987,766 | 10% |
| 34 | 208 | Hawaiian Insurance And Guaranty Co. Ltd. | $1,791,341 | 48% |
| 35 | 158 | Aloha Pacific Federal Credit Union | $1,762,194 | 8% |
| 36 | 226 | Cyanotech Corp.* | $1,730,000 | 10% |
| 37 | 195 | Triple F Holdings, LLC* | $1,500,000 | 6% |
| 38 | 139 | Pharmacare Hawaii Inc.* | $1,400,000 | 3% |
| 39 | 237 | Kaikor Construction Co. Inc.* | $1,390,866 | 11% |
| 40 | Royal State National Insurance | $1,327,430 | 19% | |
| 41 | 127 | JBG Corp.* | $1,200,000 | 2% |
| 42 | 225 | Blood Bank of Hawaii* | $1,098,065 | 6% |
| 43 | 182 | Mid-Pacific Institute* | $1,064,000 | 4% |
| 44 | 119 | DTRIC | $930,968 | 3% |
| 45 | 178 | Hawaii National Bank | $879,000 | 3% |
| 46 | 232 | Hawaiian Islands Freight Association* | $846,510.41 | 6% |
| 47 | 149 | Hawaii Auto Group - Cadillac, GMC, Buick, VW of Honolulu* | $600,000 | 2% |
| 48 | 236 | S&M Sakamoto, Inc.* | $588,000 | 4% |
| 49 | 153 | Contract Furnishers of Hawaii Inc. (dba Office Pavilion)* | $530,209 | 1% |
| 50 | 113 | Wasa Electrical Service Inc.* | $342,000 | 1% |
| 51 | 185 | Castle Group, Inc.* | $261,000 | 1% |
| 52 | 235 | Continental Mechanical of the Pacific* | $193,000 | 1% |
| 53 | 69 | Coastal Construction Co. Inc.* | $190,000 | 0.2% |
| 54 | 223 | ML Macadamia Orchards* | $90,000 | 1% |
| 55 | 22 | Kalaeloa Partners L.P.* | $38,756 | 0.01% |
| 56 | 170 | Mina Pharmacy* | -$80,000 | -0.3% |
| 57 | 147 | Barnwell Industries Inc. | -$109,000 | -0.3% |
| 58 | 214 | Kamaaina Care Inc. (dba Kamaaina Kids)* | -$276,000 | -1% |
| 59 | 181 | Kahi Mohala Hospital* | -$550,000 | -2% |
| 60 | 174 | Kahala Nui* | -$942,025 | -3% |
| 61 | Dongbu Insurance Co. | -$1,467,317 | -6% | |
| 62 | 231 | Maui Land & Pineapple Co. | -$1,597,000 | -5% |
| 63 | 210 | Finance Factors Ltd. | -$1,986,000 | -10% |
| 64 | 4 | Hawaiian Airlines Inc. | -$2,649,000 | -0.2% |
| 65 | 227 | Parker Ranch Foundation Trust* | -$3,000,000 | -18% |
| 66 | 46 | Hawaii Medical Assurance Association (HMAA) | -$4,200,000 | -3% |
| 67 | 30 | AlohaCare | -$4,273,656 | -2% |
| 68 | 24 | Forest City Hawaii* | -$11,000,000 | -4% |
| 69 | 159 | Hawaii Community Foundation* | -$12,630,000 | -37% |
| 70 | 15 | Hawaii Health Systems Corp. | -$111,809,342 | -23% |
| 71 | 5 | University of Hawaii | -$132,736,000 | -10% |
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