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Hawai‘i’s Top 25 Contractors of 2024: Navigating a Year of Resilience and Growth
Building Industry Hawai‘i’s Top 25 Contractors of 2024 continue to forge a path forward.

Me Ka Mahalo Nui

Building Industry Hawaii is delighted to present our much-anticipated Hawai‘i’s Top 25 Contractors list for the 37th year.

This prestigious annual compilation celebrates the exceptional companies that are often the backbone of our industry, performing the heavy lifting that bolsters Hawai‘i’s infrastructure and private sector development. Your contributions not only exemplify excellence, but also inspire and elevate the standards of construction in Hawai‘i.

It is with great pleasure and pride that Trade Media Hui showcases your remarkable achievements, challenges and stories in this issue of Building Industry Hawaii.

We extend our deepest gratitude to all participants, readers and sponsors who contribute to the success of Building Industry Hawaii’s Top 25 list every year. We appreciate your loyal partnerships and unwavering support, which make our Hawai‘i’s Top 25 Contractors feature a cornerstone of the industry.

Mahalo and congratulations from the Trade Media Hui ‘ohana!

Amanda Canada, Publisher
Trade Media Hui

Navigating a Year of
Resilience and Growth

Hawai‘i’s Top 25 Contractors of 2024 continue to forge a path forward

By Jason Genegabus, Brett Alexander-Estes, Richard Melendez, Vanessa Hathaway, Lorraine Cabanero, Chris Aguinaldo,
Lance Tominaga, Jamie Winpenny and Jackie M. Young


t’s been another year of growth and adaptation for the companies that comprise Building Industry Hawaii’s highly anticipated Top 25 Contractors rankings.

Despite ongoing challenges presented by supply chain disruptions, labor shortages and fluctuating material costs, Hawai‘i’s construction industry continues to show remarkable resilience compared to other sectors of the state’s economy.

According to self-reported data from our Top 25 Contractors, the total revenue in 2023 for all of the companies ranked this year totaled $5,147,065,664, an increase of more than $829 million over 2022’s total revenue of $4,317,986,759.

The list also includes three newcomers this year — M2K Construction LLC, Kapili Solar Roofing & Painting and Quality General Inc. — who successfully navigated a complex economic landscape with innovation and determination over the past 12 months to earn their spots.

But it’s no surprise Hawaiian Dredging Construction Company Inc. maintains its No. 1 position for the 19th consecutive year, with an impressive $780 million in revenue last year — an increase of more than 36 percent over 2022.

Holding steady in second place, Nan Inc. also reported a substantial revenue increase of just over 37 percent, bringing in $638.8 million in 2023. And while Hensel Phelps didn’t enjoy the same jump in revenue in 2023 as it did the year prior, the company continues to solidify its spot near the top of our list, sliding into the third position this year after finishing fourth in 2023 and fifth in 2022.

One notable mover this year, Kiewit Corporation, made an impressive leap from No. 8 to No. 5, with a remarkable 45 percent increase in revenue to $305.3 million last year. Of this year’s Top 25 Contractors, only three — Armstrong Builders LLC, Group Builders Inc. and Moss & Associates — saw comparatively higher jumps in revenue over the previous 12 months.

Roseann Freitas

“Hawai‘i’s Top 25 Contractors ranking is a fantastic way to spotlight the outstanding work done by Hawai‘i’s top builders,” says Roseann Freitas, CEO of the Building Industry Association of Hawaii. “We value the pivotal role these builders play in shaping our communities, driving innovation and fueling economic growth. The Top 25 Contractors list is a true testament to their dedication, expertise and unwavering commitment to excellence.

“It’s inspiring to see how Hawai‘i’s construction sector continues to thrive, powered by resilience, adaptability and a relentless drive to overcome challenges. We celebrate the achievements of these top contractors, honoring their invaluable contributions to our state and eagerly look forward to a future filled with even more growth in our industry.”

As Hawai‘i’s construction industry continues to navigate a myriad of challenges, the industry has shown resilience, with many companies reporting significant revenue growth. This is despite supply chain disruptions that have caused delays and increased costs for many projects. Labor shortages continue to affect the ability of some companies to maintain project timelines.

Who will rise to the top next year? Only time will tell, but one thing is certain — Hawai‘i’s construction industry is poised to continue its trajectory of growth and excellence into 2025 and beyond.

Top 25 Contractors and Rankings

These are the top-performing companies in Hawai‘i, based on 2023 revenue. Companies voluntarily submitted data for publication.

1 1 Hawaiian Dredging Construction Company Inc. $780.0 $573.0 36.13%
2 2 Nan Inc. $638.8 $465.8 37.13%
4 3 Hensel Phelps $380.9 $341.3 11.59%
3 4 Nordic PCL Construction Inc. $354.0 $369.0 -4.07%
8 5 Kiewit Corporation $305.3 $210.4 45.09%
6 6 Goodfellow Bros. $305.0 $288.0 5.90%
7 7 Swinerton $288.0 $218.9 31.57%
5 8 Albert C. Kobayashi Inc. $255.3 $309.0 -17.38%
13 9 Moss & Associates $227.2 $112.1 102.62%
9 10 Unlimited Construction Services Inc. $208.2 $178.1 16.92%
10 11 Frank V. Coluccio Construction Company Inc. $144.5 $133.7 8.08%
11 12 Dorvin D. Leis Co. Inc. $140.0 $123.7 13.21%
14 13 Maryl Group Construction Inc. $122.0 $107.0 14.02%
15 14 Royal Contracting Company Ltd. $121.2 $106.4 13.83%
18 15 Allied Builders System $108.2 $87.2 24.08%
16 16 Coastal Construction Co. Inc. $98.6 $103.2 -4.46%
17 17 Wasa Electrical Services Inc. $97.0 $95.0 2.11%
19 18 Alakaʻi Mechanical Corporation $91.2 $78.7 15.90%
21 19 Armstrong Builders LLC $88.2 $55.8 58.06%
20 20 Isemoto Contracting Company Ltd. $81.4 $73.2 11.20%
25 21 Group Builders Inc. $74.0 $40.7 81.82%
22 22 Ralph S. Inouye Co. Ltd. $68.1 $49.5 37.58%
12 23 Layton Construction Company LLC $64.1 $117.3 -45.42%
23 24 Shioi Construction Inc. $59.0 $47.0 25.53%
NOT RANKED 25 M2K Construction LLC (NEW) $47.0 $33.0 42.42%
NOT RANKED NC Kapili Solar Roofing & Painting (NEW) $38.7 $27.0 43.30%
NC NC S & M Sakamoto Inc. $37.0 $36.6 1.13%
NC NC Paradigm Construction LLC $36.8 $31.0 18.52%
NC NC Alan Shintani Inc. $29.2 $36.8 -20.73%
24 NC Healy Tibbitts Builders Inc. $27.1 $41.5 -34.68%
NOT RANKED NC Quality General Inc. (NEW) $25.7 $17.7 45.20%
NC NC Constructors Hawaii Inc. $20.4 $19.3 5.82%

A Decade of Hard Work (in billions)

Combined annual revenue of the Top 25 Contractors from 2013 to 2023


Hawaiian Dredging
Construction Co. Inc.


2023 REVENUE: $780M

From deep harbor projects to trailblazing towers, Hawaiian Dredging Construction Company Inc. reigns as Hawai‘i’s top contractor for the 19th year in a row.

Hawaiian Dredging earned $780 million in 2023, an increase of 36 percent over 2022’s $573 million and marking the first time a Hawai‘i general contractor has come within striking distance of $1 billion in annual revenue.

Gerry Majkut

“As we look back at 2023, the construction market remained strong, even considering interest rates and inflation,” says Gerry Majkut, Hawaiian Dredging president.

Hawaiian Dredging’s nine major projects completed in 2023 span most building sectors and stretch from Hawai‘i to Guam. Many of them presented significant construction challenges.

One of these, Kokua Hale in downtown Honolulu, provides 222 affordable units for individuals 55 years old and above. Hawaiian Dredging used building information modeling software to construct the 20-story mid-rise complex and meet the challenges of its compact lot surrounded by existing buildings and high-traffic streets.

Market strength is propelling Hawaiian Dredging even further in 2024. The firm’s 21 major ongoing projects include most sectors — residential (Kaka‘ako towers Ulana, Victoria Place and Ililani, as well as Liloa Hale, the HPHA School Street Project and the Maunakea Tower Renovation), hospitality (Halekulani Hotel Renovations, Hilton Waikoloa Village Ocean Tower Phase 3 Sector D Conversion), infrastructure (three big projects at Honouliuli Wastewater Treatment Plant, another wastewater project at Sand Island and the Auahi Promenade & Ulana Offsite Sewer/Electrical project), commercial (projects at Molokai General Hospital and Honolulu’s Straub Hospital) and industrial (ODEX Kapolei New Sales and Distribution Warehouse Facility).

Ongoing military work includes five large projects, with two on Guam. And as a member of Dragados/Hawaiian Dredging/Orion Joint Venture, the firm is working on the Dry Dock 3 replacement at Pearl Harbor, also known as Dry Dock 5, which is the largest single-value project in U.S. Navy history.

“The Hawai‘i construction market looks very good for 2024 and potentially the next several years ahead,” Majkut says. “With the need to update our infrastructure, the continuing demand for housing (market and affordable), the Shipyard Infrastructure Optimization Program that started, the New Aloha Stadium Entertainment District, HART City Center Guideway and Stations and tourism projects, there is a solid base of current and future projects for the Hawai‘i construction market.”

– Brett Alexander-Estes


Nan Inc.

The Hawaii State Veterans Home, a current Nan Inc. project, will provide 120 beds for Hawai‘i’s veterans. PHOTO COURTESY NAN INC.

2023 REVENUE: $638.8M

Nan Inc.’s stellar 2023 revenue and formidable lineup of projects secures its second place standing among Hawai‘i’s Top 25 Contractors for a third year in a row.

The U.S. Navy’s Apra Medical/Dental Clinic on Guam, a Nan Inc. project, was certified LEED Gold last year.

The general contractor earned $638.8 million in 2023, surpassing $465.8 million in 2022 earnings by 37 percent.

Nan Inc. made its mark in many Hawai‘i building sectors last year, completing the new state-of-the-art Daniel K. Akaka Veterans Affairs Community-Based Outpatient Clinic in Kalaeloa, with a contract value of $84.5 million; the repair of Building 502 at Fort Shafter, valued at $31.9 million; and the third phase of ongoing work at East Kapolei Middle School, valued at $33.6 million.

Nan Inc. performs 77 percent of its work in the public sector, as shown by its 2024 lineup of ongoing Hawai‘i projects, which include the widening of Farrington Highway in Kapolei, valued at $138 million and set to wrap in November; two bachelor enlisted quarters buildings at Marine Corps Base Hawaii (MCBH), valued at $174.6 million and set to wrap in June 2029; a separate project to construct a third bachelor enlisted quarters at MCBH, valued at $122.6 million and set to wrap in this month; and the Hawaii State Veterans Home in Kapolei, also set to finish this month.

Ryan Nakaima

2023 achievements include “receiving an honorable mention for the Waikōloa Middle School Classroom Building at the AIA Honolulu 65th Annual Design Awards,” says Ryan Nakaima, Nan Inc. senior vice president. “We also received LEED Gold certification for the [U.S. Navy’s] J-006 Apra Medical/Dental Clinic on Guam.”

Going forward, Nan Inc. is “positive,” says Nakaima.

While the outlook of Hawai‘i’s building industry had remained slightly positive in recent years for certain sectors, this year looks more promising,” he says. “We have likewise been seeing more activity, but Hawai‘i has always been fortunate in being able to weather the storm more than others due to its large military presence and other large public projects. 

“On the project level, certain supply chains are still experiencing remarkably long lead times, but the positive aspect is that all stakeholders have become familiar with these challenges and work collaboratively toward alternative solutions.”

– Brett Alexander-Estes


Hensel Phelps


2023 REVENUE: $380.9M

Last year, Hensel Phelps tightened its grip on opportunities throughout the Pacific and saw an 11 percent rise in revenue — from $341.3 million in 2022 to $380.9 million in 2023. This puts the company in third place among Hawai‘i’s Top 25 Contractors, rising one spot from last year.

In 2023, the Colorado-based general contractor also celebrated 30 years in the Pacific and 10 years as its “Pacific Region” branch.

Last year also brought changes in management at Hensel Phelps, with Thomas Diersbock, longtime Pacific Region vice president, rising to executive vice president, and Jonathan Tseu stepping up as new regional vice president. Allie Ackerman and Wes Reimers were also promoted, to operations manager and general superintendent, respectively.

Hensel Phelps also celebrated the 2023 delivery of two large public sector projects: Phase 3 of the U.S. Army’s Command & Control Facility and electrical improvements at the Kailua Regional Wastewater Treatment Plant.

Hensel Phelps performs 90 percent of its work in the public sector and currently has 15 major public sector projects underway in Hawai‘i and Guam. Many are military projects, running the gamut from a fuel station at Guam’s Marine Corps Base Camp Blaz to a new, state-of-the-art aircraft maintenance hangar at Wheeler Army Airfield on O‘ahu.  The company is also working on in-vessel bioconversion facility upgrades at the Sand Island Wastewater Treatment Plant, set to wrap in October 2028, and was awarded work on the second phase of the University of Hawai‘i’s Mini Master Plan – New Facility project.

Jonathan Tseu

“The outlook for the industry is strong,” says regional vice president Jonathan Tseu, but cautions that “the strength of the market in and of itself is a challenge.

“The volume of construction work ongoing and anticipated for the remainder of 2024 has and will create resource limitations for both administrative and craft employees,” he says. “This, combined with recent inflation and persistent extended lead times for equipment, creates an environment where owners and contractors have to work together to navigate the rough waters.”

– Brett Alexander-Estes


Nordic PCL Construction Inc.

Kona Village, A Rosewood Resort, above, is among Nordic PCL’s completed projects in 2023. PHOTOS COURTESY NORDIC PCL

2023 REVENUE: $354M

Nordic PCL Construction Inc. had a formidable slate of projects that saw completion in 2023, including the renovation of Kona Village, A Rosewood Resort; the construction of Kūlanihāko‘i High School (formerly Kīhei High School); Hawaii State Federal Credit Union’s new headquarters; a new Hawaii Electricians Pension Fund building; and room renovations at Grand Wailea, A Waldorf Astoria Resort, on Maui.

Glen Kaneshige

“Our portfolio of projects was well-diversified across O‘ahu and the neighbor islands, with the majority of our projects in the various sectors of the private market,” says Nordic PCL Construction president Glen Kaneshige. “We also had a couple of military and state projects to help hedge against a pullback in the private markets resulting from a rise in interest rates.”

Among Nordic’s ongoing projects are the redevelopment of King Kalākaua Plaza in Waikīkī (projected completion in September); Ka Haku by Hilton Grand Vacations, in Waikīkī (projected completion May 2026); repairs to Building 2077 at Schofield Barracks (projected completion Oct. 2026); repairs to Building 118 at Wheeler Army Airfield (projected completion Oct. 2026); Halawa View Apartments (projected completion March 2025); Public Storage Koa Ridge (projected completion June 2025); and Phase 2 of Maui Bay Villas (projected completion Jan. 2025).

“The local construction market continues to weather the elevated interest rates with the continued advancement of private developments on the horizon,” says Kaneshige. “The geopolitical risks of a conflict with China over Taiwan will continue to spur military construction. The demand for affordable housing developments combined with relief for Lāhainā and more healthcare expansions to address Hawai‘i’s aging population keep us cautiously bullish.”

While it bodes well for Nordic looking forward, maintaining this diverse portfolio of projects looks to have also served Nordic well in 2023. Nordic PCL Construction comes in at No. 4 in this year’s Top 25 Contractors, holding onto a sweet spot towards the top with $354 million in revenue last year. That number is down slightly from $369 million which earned them the No. 3 spot in 2023’s rankings.

In a year of proud achievements, Nordic can also look beyond its slew of completed projects. 2023’s milestones also included several awards, among them multiple 2023 GCA Safety Awards; a 2023 Building Industry Association Renaissance Grand Award for Renovation; and Kaneshige’s 2023 Union Builder of the Year Award, from Pacific Resource Partnership.

Kaneshige has earned this accolade twice, the only person ever to have done so.

– Richard Melendez

The top 10 biggest construction employers in Hawai‘i, according to companies’ self-reported 2023 data.

Company Name # of Emlployees 2024 Rankings
Nan Inc 1,396 2
Hawaiian Dredging Construction Company Inc. 923 1
Hensel Phelps 557 3
Goodfellow Bros. 528 6
Dorvin D. Leis Co. Inc. 500 12
Wasa Electrical Services Inc. 335 17
Coastal Construction Co. Inc. 300 16
Kiewit Corporation 300 5
Alaka‘i Mechanical Corporation 273 18
Swinerton 269 7


Kiewit Corporation


2023 REVENUE: $305.3M

Kiewit Corp., one of America’s leading general contractors, earned $305.3 million in 2023 Hawai‘i receipts, besting 2022’s take of $210.4 million by 45 percent. The increase vaults Kiewit to fifth place among Hawai‘i’s Top 25 Contractors, up from eighth place last year.

Headquartered in Omaha, Nebraska, Kiewit has five major divisions: Building, Transportation, Power, Water and Marine. The corporation acquired Weeks Marine Inc., along with its Hawai‘i subsidiary Healy Tibbitts Builders Inc., in January 2023.

Kiewit’s 2023 Hawai‘i-based revenue excludes Healy Tibbitts revenue for the purposes of this survey.

The company performs 84 percent of its Hawai‘i projects in the public sector and subcontracts 35 percent of its local work.

Kiewit’s completed 2023 Hawai‘i projects span most of the company’s five divisions and include landslide repair along Drum Road at Helemano Military Reservation; the widening of Runway 8L at the Daniel K. Inouye International Airport; water storage at the Waimea Wastewater Treatment Plant; a water system at the Department of Hawaiian Homelands’ Anahola Farm Lots; a pier to service the Lāhainā Small Boat Harbor Ferry, the Hawaii Kai Marina groin; and waterline repairs at Ford Island.

Kiewit’s 2023 achievements include recognition from the Engineering News-Record as a “Best Projects” contractor for their work on the Kolekole Bridge on Hawai‘i island, where Kiewit installed a 270-foot overhead Acrow truss system.

Kiewit’s major divisions also encompass the firm’s ongoing Hawai‘i projects. These projects, and their scheduled completion dates in parentheses, include: traffic roundabout in Kailua (November 2024), Wailua River Bridge (April 2025), concrete apron work at Wheeler Army Airfield (2024), dredging and construction at the Kapalama Container Terminal (July 2025), waterline work at Tripler Army Medical Center (November 2024) and Moanalua Freeway (TBA).

Kiewit Corp. is one of North America’s largest construction and engineering organizations, with roots dating back to 1884. The employee-owned firm operates through a network of subsidiaries in the United States, Canada, Mexico and Guam. Kiewit employs 25,200 workers in the United States alone.

– Brett Alexander-Estes


Goodfellow Bros.


2023 REVENUE: $305M

Goodfellow Bros. had a very good year in 2023. The general contractor completed work on several large projects, including Kona Village Resort and Waikoloa Lofts West on Hawai‘i island, along with Yasutake Bridge on Kaua‘i.

Edward Brown

These projects barely scratch the surface, however, according to Edward Brown, division president. Goodfellow completed 65 jobs in total last year.

The fourth-generation, family-owned general contractor earned $305 million in Hawai‘i-based revenue in 2023, earning them the No. 6 spot on the Top 25 Contractors list, the same place they held last year despite a 5.9 percent jump in revenue from 2022.

Perhaps the company’s most significant accomplishment of 2023 was the completion of a new West Maui Temporary School near Kapalua Airport on Maui. Completed in 95 days with crews working seven days a week, Goodfellow and its project team delivered a fully functional educational facility for displaced students of King Kamehameha III Elementary School, which was destroyed in the deadly fires that swept through Lāhainā last August.

As if the completion of these projects weren’t impressive achievements on their own, Goodfellow also added 16 new salaried positions, including Hawai‘i HR Manager Kaia Udell and Equipment & Procurement Controller Elizabeth Smith.

Brown anticipates challenges due to a shortage of skilled labor and inadequate housing, but he remains optimistic about the growth of the construction sector in 2024. Goodfellow currently has 210 projects in various stages of development among its five divisions — Goodfellow Bros. LLC, Hawaii Drilling & Pump Service, Blasting Technology, Hawaii Paving and Maui Paving.

“Hawai‘i’s construction industry anticipates a strong year ahead with major redevelopment projects in Maui, including temporary housing, schools and infrastructure upgrades,” says Brown. “Statewide initiatives for affordable housing and increased military funding for critical infrastructure further drive momentum.”

– Richard Melendez

Building Trust Together

Better Business Bureau accreditation benefits both businesses and customers

In a market saturated with companies competing for customers, accreditation from the Better Business Bureau (BBB) provides consumers with confidence that they’re dealing with an ethical and vetted business. More than 85 percent  of accredited businesses agree the designation aids in gaining credibility with clients.

Companies holding BBB accreditation not only incorporate lawful business practices into their operations, but also meet the organization’s Standards for Trust.

The bureau’s standards are: “build trust, advertise honestly, tell the truth, be transparent, honor promises, be responsive, safeguard privacy and embody integrity,” and are based on the BBB’s determination of the attributes of a better business. According to the organization, more than 80 percent of consumers would choose a business accredited by the BBB over a non-accredited business with the same letter rating.

BBB-accredited businesses are also afforded greater visibility. The BBB Dynamic Seal can be added to corporate websites, while printable versions can be used in marketing collateral and decals can be displayed on business windows. The BBB’s “Get a Quote” program also allows consumers to instantly request quotes directly from customizable business profile pages.

Learn more about the BBB’s accreditation process and download an application at bbb.org/get-accredited.




2023 REVENUE: $288M

Aaron Yamasaki

Aaron Yamasaki, Swinerton vice president and division manager, was pleased when the company’s balance sheet showed $288 million in 2023 revenue — 31 percent more than Swinerton posted in 2022.

But he wasn’t surprised.

Swinerton completed several substantial projects in 2023, including the new Target store at Windward Mall, work at Home Depot in Mapunapuna and Straub Medical Center near downtown Honolulu, cementing Swinerton’s No. 7 standing among Hawai‘i’s Top 25 Contractors for the second year in a row.

The General Contractors Association of Hawaii also honored the company with a 2023 Build Hawaii Award of Excellence for its Waikīkī Market project.

In addition, Swinerton’s work on Amazon’s DHI-2 Last Mile Delivery Station broke ground in 2022 and pushed the construction envelope in all directions — size, scope, specs and project value. The project was completed earlier this year.

“We are proud of our partnership with Amazon in building their DHI-2 Last Mile Delivery Station at Sand Island,” Yamasaki says. “The project was a first-of-its-kind multi-story delivery station for Amazon and will serve as a template for future delivery stations in dense urban settings.”

Swinerton’s other ongoing 2024 projects and their completion dates include a new Target location at International Market Place (Fall 2024), a new Student Success Center at the University of Hawai‘i at Mānoa (Summer 2025), graduate student housing at UH-Mānoa (Summer 2025) and the Maui Airport Industrial Center (Winter 2025).

Yamasaki sees more success for Swinerton Builders going forward, while offering a caveat for Hawai‘i’s industry.

“An aging workforce coupled with a high cost of living are two factors draining talent out of Hawai‘i and our industry,” Yamasaki says. “Construction is and will continue to be a people-led service business. The retention and development of a strong local talent pool is essential.”

– Brett Alexander-Este


Albert C. Kobayashi Inc.

Albert C. Kobayashi Inc. says it will finish Hokuao on Lāna‘i later this year. PHOTO COURTESY ALBERT C. KOBAYASHI

2023 REVENUE: $255.3 M

Sixty years of operation is certainly a significant milestone to reach, and Albert C. Kobayashi Inc. (ACK) celebrated their 60th anniversary in 2023 with the completion of two notable projects: a state-of-the-art facility for Pasha Hawaii and Sky Ala Moana’s two mixed-use towers.

Wrapping up construction of the harbor-front project along with the twin high-rises that now loom over the Kapiolani corridor were a fitting way to mark what ACK has done and continues to do as it looks far beyond over six decades of operations — a stretch which has included an array of projects spanning the public and private sectors.

When it comes to the company’s achievements, ACK president and CEO Michael Young doesn’t hesitate to acknowledge the effort of his staff.

Michael Young

“Our dedicated, loyal and collaborative employees … put the company first and prioritize completing all of our projects on time and within budget,” he says.

It can also be said, then, that it was these dedicated employees that helped ACK secure their spot on this year’s Top 25 rankings. The general contractor comes in at No. 8 on this year’s list, recording $255.3 million in revenue in 2023, down 17.4 percent from the previous year’s tally of $309 million, when it ranked fifth. Despite the slight drop, the company still retains a solid ranking in 2024.

Young remains optimistic for the year ahead.

Albert C. Kobayashi Inc. says it completed work at Sky Ala Moana in 2023.

“For 2024, the Hawai‘i construction industry appears to remain strong despite the many economic, geopolitical and environmental challenges we all face,” he says.

Whether it’s the source of Young’s optimism or a reflection of it, ACK has an impressive slate of work that will propel the company through the next few years. Ongoing projects include Hokuao, a housing development on Lāna‘i, projected to finish in the fourth quarter of this year, and two new components of the ongoing redevelopment of Kaka‘ako: The Park Ward Village, projected to be completed in 2025, and Ālia, slated to wrap in 2026.

– Richard Melendez

Hawai‘i’s Legacy Companies

The Top 25 Contractors listed below all have at least 50 years of service in the islands. Five of this year’s Noteworthy Contenders — S & M Sakamoto Inc., Healy Tibbitts Builders Inc., Quality General Inc., Constructors Hawaii Inc. and Alan Shintani Inc. — are also included on the list.

Company Name Count
Hawaiian Dredging Construction Company Inc. 122
Isemoto Contracting Company Ltd. 98
Nordic PCL Construction Inc. 86
S & M Sakamoto 84
Kiewit Corporation 76
Shioi Construction Inc. 76
Wasa Electrical Services Inc. 74
Royal Contracting Company Ltd. 63
Ralph S. Inouye Co. Ltd. 62
Albert C. Kobayashi Inc. 61
Healy Tibbitts Builders Inc. 60
Dorvin D. Leis Co. Inc. 57
Quality General Inc. 55
Allied Builders System 54
Goodfellow Bros. 52
Constructors Hawaii Inc. 52
Coastal Construction Co. Inc. 50
Alaka‘i Mechanical Corporation 50
Alan Shintani Inc. 50


Moss & Associates


2023 REVENUE: $227.2 M

Moss & Associates saw $227.2 million in revenue in 2023, more than doubling the $112.1 million brought in during 2022. This sizable bump earns Moss the No. 9 spot on this year’s Top 25 list, up from their previous showing at No. 13.

Moss, which specializes in construction management and solar EPC (engineering, procurement and construction), completed a notable gauntlet of projects in 2023, including affordable rental housing project Hale Makana O Mō‘ili‘ili; the Walter Dods Jr. Residences for Innovative Student Entrepreneurs (RISE) at the University of Hawai‘i at Mānoa; and the Waiawa Solar Project, a 36-megawatt solar farm and 144-megawatt-hour battery storage system.

Still ongoing are Kaulana Mahina Apartments in Wailuku, scheduled for completion in June, and Hale O Pi‘ikea in Kīhei, with an expected completion during the first quarter of 2025, both highly anticipated — and crucially needed — housing projects on Maui.

As Moss’ Hawai‘i portfolio of residential projects continues to grow, Matthew Jun, senior vice president, doesn’t see activity in this sector letting up in the year ahead.

“Construction for housing is expected to remain strong throughout 2024,” says Jun. “If interest rates drop as predicted, this could lead to an increase in more housing being developed in the following years.”

Jun, who was named senior vice president of Hawai‘i operations in 2023, was one of two major promotions announced at Moss last year, alongside Bruce Moldow as president of Moss’ Hawai‘i office.

While time will tell how the pair will help shape the future of Moss, Jun acknowledges that they are standing on the shoulders of others.

“Our success is also driven by outstanding leadership and the vision of our founder, Bob Moss,” he says. “The mentorship provided by Bob to his son, Scott Moss, CEO, has played a tremendous part in scaling our company to new heights while still maintaining the culture.

“Our people, living our core values daily, are the true reason behind Moss’ success. We are incredibly proud of our team and the positive, dynamic culture we have built together.”

– Richard Melendez


Unlimited Construction Services Inc.


2023 REVENUE: $208.2 M

Unlimited Construction Services Inc. slipped one spot in our Top 25 rankings, coming in at No. 10 with $208.2 million in 2023 revenue despite a 16.9 percent increase from the previous year, earning $178.1 million in 2022.

In 2023, the Hawai‘i-based general contractor, with offices on O‘ahu and Kaua‘i, completed work on Pauahi Kupuna Hale Apartments (April 2023), DE Thompson Village (June 2023), Kaua‘i County’s Hanalei Baseyard office and garage (July 2023) and Halewai‘olu Senior Residences in Chinatown on O‘ahu (September 2023).

Jason Thon

“2024 is off to a strong start with a healthy backlog of  short- and long-term projects,” says Jason Thon, president.

Among these projects are the first two phases of Kai Olino Apartments (projected completion April 2024 and March 2025); Lima Ola, Lots 2 & 45 (projected completion in September); Jack Hall Waipahu Apartments (projected completion in November); First Hawaiian Bank’s Līhu‘e Banking Center (projected completion March 2025); HVAC improvements at Pa Honua military housing in Kāne‘ohe (projected completion April 2025); Bishop Place (projected completion June 2025); Halewiliko Highlands (projected completion June 2025); the new Le Jardin Academy Art & Innovation Center (projected completion July 2025); workforce housing at Koloa Makai on Kaua‘i (projected completion October 2025); and interior renovations at Pa Honua (projected completion January 2026).

“A number of large projects continue to magnify concerns over the local workforce and resource availability,” says Thon. “Our revenue projections for 2024 are less than 2023 but will remain respectable.

“Regardless of federal rate projections, projects are still moving forward. A steady private sector coupled with substantial spending on government funded projects will keep the Hawai‘i construction industry active in 2024.”

– Richard Melendez


Frank V. Coluccio Construction Company Inc.

Frank Coluccio Construction completes work on force main repairs on O‘ahu. PHOTO COURTESY FRANK V. COLUCCIO CONSTRUCTION COMPANY INC.

2023 REVENUE: $144.5M

Frank V. Coluccio Construction Company Inc. may focus on underground infrastructure — tunnels, sewers, water mains, etc. — but their unique services have kept them well above ground for decades.

Frank V. Coluccio

“Our work is highly specialized,” says President Frank V. Coluccio, whose company is licensed in 19 states. “In fact, there are only about a dozen contractors nationwide who do what we do.”

That translates to a very loaded work docket.

Now in their 47th year in Hawai‘i, Frank Coluccio Construction brought in $144.5 million in revenue in 2023, giving them the No. 11 spot in our Top 25 rankings. That total is up from $133.7 million the previous year.

“We’re still very busy,” Coluccio reports.

Among the projects completed in 2023 was nearly $1 million in force main repairs in ‘Ewa Beach. The pipes had failed, according to Coluccio, so the company performed a deep excavation and repaired the existing pipeline.

The company continues work on the ongoing Honolulu rail project, relocating underground utilities from Dillingham Boulevard to Cooke and Halekauwila streets in Kaka‘ako. Coluccio says they’re about two-thirds through a three-year, $230 million contract.

To keep up with the demand for their services, Coluccio says it is imperative to bolster Hawai‘i’s workforce.

“That’s a big challenge right now,” he says. “There’s so much work going on right now. The dry dock work at Pearl Harbor has kind of sucked up all the available workers. I think the unions need to step up in their recruiting and vetting process so they can bring in more people.”

DHO Joint Venture is spearheading a multi-billion dollar build-out of Dry Dock 5 at Pearl Harbor Naval Shipyard, which is the largest single-value construction project in Navy history.

Coluccio says he gets great satisfaction from finding creative solutions for projects.

“We have a few more tools in our tool bag than your average general contractor,” he says. “We have an excellent team of people, and we’re pretty skilled at what we do. We can approach a project from different angles.”

— Lance Tominaga


Dorvin D. Leis Co. Inc.



2023 REVENUE: $140M

Dorvin D. Leis Co. Inc. has been a fixture in the Maui community since 1967, when Dorvin Leis was hired to build a property in Lāhainā.

That structure was among the more than 2,200 buildings destroyed in last year’s horrific Maui wildfires.

Stephen Leis

For Stephen Leis, who succeeded his father as company president in 1989, rebuilding the historic seaside town means more than just opportunities for more work.

“It’s extremely personal,” he says. “We’ve had a great relationship with this community, and [the fires] had a huge emotional impact.

“Although only one of our employees lost their home, a lot of family members of employees lost everything.”

In business terms, Leis says the company registered $140 million in revenue in 2023 — $16.3 million more than 2022.

“We met our expectations,” he affirms. “2024 is trending upward as well. The backlog that got deferred in 2023 is now performing in 2024. We’re probably on pace for between $175 million to $180 million this year.”

Projects completed in 2023 include 1 Hotel Hanalei Bay in Princeville, Kaua‘i. Leis calls the job “probably our most challenging project” due to its isolated location, difficult traffic and terraced layout.

Despite the challenges brought on by last year’s wildfires, Leis and his team are rolling up their sleeves, ready to help rebuild Lāhainā.

“The fires have caused a spike in the cost of living, and some people are leaving the state,” says Leis. “Resourcing and recruiting will be challenging. Retaining employees will also be very important. This will take time — many years, in fact — but we’ll do everything we can.”

— Lance Tominaga


Maryl Group Construction Inc.


2023 REVENUE: $122M

In the Bible, Jesus declared, “The harvest is plentiful, but the laborers are few.”

To that, John Ogoshi might say, “Amen.”

Ogoshi, president of Honolulu-based Maryl Group Construction Inc., reports that his company earned $122 million in revenue in 2023, up from $107 million the previous year. Business, he says, is booming.

“In terms of backlog and workload, it’s going very well.”

The problem, he adds, is finding available workers.

“Everyone that we’ve talked to is experiencing similar problems,” Ogoshi says. “It’s unusual to be so busy that we don’t have enough people to do all the work that we want to do. But younger people are trending away from the working-class jobs, so there’s a smaller supply of people coming in.”

High prices represent another obstacle in the industry.

“Inflation has certainly taken its toll,” says Ogoshi. “Prices really went up during the pandemic, and even now they’re still relatively high. I think that’s had an effect on the start of new projects.”

Looking back, Ogoshi says the COVID pandemic may have helped the industry in the long run.

“I think it made us and everyone else learn to be better problem-solvers,” he explains. “During the pandemic, there were many difficult problems and challenges — material delivery delays, skyrocketing costs and so forth — so we learned to be proactive in getting the materials we needed when we needed them. We learned to lock in prices as soon as we could. Overall, it helped us to become better planners.”

Among Maryl Group’s 2023 highlights was the summer completion of Kaiāulu O Halele‘a, a 120-unit, 15-building affordable rental housing project in Kīhei. Started in 2021, the project brought in $40 million for the company.

Like many other Hawai‘i contractors, Maryl Group has their sights on assisting with the rebuilding of Lāhainā.

Ogoshi says his company is set to begin work on a $55 million rebuild of a four-story, 89-unit affordable housing project in the community. He estimates the project to be completed in about a year and a half.

— Lance Tominaga


Royal Contracting Company Ltd.

2023 REVENUE: $121.2M

In the drive to produce more Hawai‘i homes, builders often turn first to Royal Contracting Co. Ltd.

The heavy civil contractor has leveled new residential lots for 63 years, and was busier than ever in 2023 “constructing roads and utilities at Koa Ridge [and] Ho‘opili to provide housing for the people of Hawai‘i,” says Leonard K.P. Leong, company president.

Royal earned $121.2 million in 2023, nearly 14 percent more than the $106.4 million the company earned in 2022. It also secured Royal’s No. 14 ranking among Hawai‘i’s Top 25 Contractors, up one spot from last year.

Completed 2023 projects included “mass grading of drainage channels and off-site sewer at Campbell Industrial Park, Gentry Kalaeloa Housing, the Koa Ridge Water System and fire breaks along the Leeward side of O‘ahu,” Leong says.

With so many sites, challenges abounded.

Leonard K.P. Leong

Our most challenging and rewarding project for 2023 is Gentry’s Kalaeloa Parcel 1, Phase 1 project called ‘Ka‘ulu,’” Leong says. “[We had to] install underground utilities and construct the roadway while house construction was occurring simultaneously.

“It took a lot of cooperation between Royal and the house builders since both parties were driving over the same areas. Working together reduced the cost of construction and the sales price.”

Other 2023 rewards arrived as Royal welcomed back Darian Chun as a project manager.

Royal’s ongoing projects this year include mass grading on projects Ho‘opili Phase 11, Ho‘opili Parcel 48 and Ho‘opili Parcel 17, with scheduled wrap dates in May, June and October, respectively.

Other ongoing efforts and their scheduled wrap dates include drain, sewer and temporary reservoir work at Koa Ridge (April 2025, June 2025 and September, respectively), and multiple kauhale at Middle Street and Kāne‘ohe to benefit the houseless (TBA).

Leong says another important project from 2023, Pu‘uhonua O Wai‘anae, is also ongoing.

“We continue to add additional lots for units to shelter the homeless. Funding and approval take time, so construction is done in phases.
“Building shelter for the homeless should be a priority for the construction industry.”

– Brett Alexander-Estes


Allied Builders System

Humane Society - Adoptions Courtyard

2023 REVENUE: $108.2M

Allied Builders System president Gary Oda attributes an impressive 24 percent increase in revenue in 2023 to several factors.

“Our current average project size has grown over the past years,” he says. “We have also expanded our capabilities to perform more complex  projects and have been able to add value … with our preconstruction services.”

One significant project completed in 2023 is the Hawaiian Humane Society Kosasa Family Campus at Ho‘opili in West O‘ahu. According to Oda, extensive site development was required, including utility infrastructure, vehicular circulation and an on-grade parking lot.

In 2024, Allied looks forward to the ‘Ōlauniu Creative Hub, an adaptive reuse project by Kamehameha Schools at the former Dillingham Plaza.

Gary Oda

“‘Ōlauniu will feature cutting-edge multimedia studios [and] collaborative co-working spaces — complemented by a diverse array of creative industry tenants,” says Oda. “Additionally, it will offer supportive amenities, such as dining and retail services.

“A unique aspect is Kamehameha Schools’ integration of indigenous guideposts, to ensure that the Native Hawaiian identity is integrated into every phase.”

Looking ahead, Oda says this year looks “very promising” for the company.

“We are optimistic for the future, given the likelihood of a reduction in interest rates,” he says.

— Jackie M. Young


Coastal Construction Co. Inc.


2023 REVENUE: $98.6M

No. 16 Coastal Construction Co. Inc. saw a slight 4 percent downturn in revenue to $98.6 million last year, down from $103.2 million in 2022. However, vice president Les Masutani chalks it up to the usual peaks and valleys of running a business.

Les Masutani

We did experience project delays due to permitting. But we’re on track to recover and exceed targets this year,” he explains.

The longtime Moanalua-based contractor specializes in new residential construction, framing, drywall and finishing. Its place among the Top 25 remains unchanged for 2024.

“Last year was a very smooth year for us,” Masutani says. “Constant communication and foreplanning with our sites and suppliers kept challenges such as labor shortages, materials increases and delays to a minimum.”

In 2023, Coastal completed 128 new homes in ‘Ikena C on O‘ahu at Ho‘opili for D.R. Horton, and 96 single-family homes in Makaha Valley at the Cottages at Mauna ‘Olu for Stanford Carr Development, but Masutani thinks 76 units the firm constructed for Castle & Cooke Hawai‘i’s Meheula Vista senior rental project in Mililani is the most significant.

“This is actually the fourth phase we’ve completed. Building low-income senior housing is critical. It provides our kūpuna with affordable housing that caters to their needs, independence and dignity.”

Masutani is looking forward to working on the Parkway Village at Kapolei this year. The 405-unit, affordable rental project is scheduled for completion in September 2025. The $199-million project is being developed by the Kobayashi Group and the Āhē Group, in partnership with the state, City & County of Honolulu, CREA LLC and Bank of Hawai‘i.

“This is a great example of how the government and private sector can collaborate to benefit the people of Hawai‘i. It is a mixed-use, affordable-rental complex, incorporating two on-site preschools to enrich community living and a promising future.”

Masutani says he’s staying positive heading into 2025.

“We foresee significant growth — particularly in the affordable and rental housing sector,” he says. “We’re optimistic about the industry’s future as it continues to innovate, collaborate and adapt.”

— Jackie M. Young

Biggest Piece of the Pie

Approximately 85 percent of the $5.15 billion in construction revenue reported in 2023 came from 15 of the Top 25 Contractors on this year’s list. Here’s a breakdown of who the money went to.

2023 Revenue
Company Name
$780,000,000 Hawaiian Dredging Construction Company Inc.
$638,760,000 Nan Inc.
$380,877,000 Hensel Phelps
$354,000,000 Nordic PCL Construction Inc.
$305,273,891 Kiewit Corporation
$305,000,000 Goodfellow Bros.
$288,000,000 Swinerton
$255,300,000 Albert C. Kobayashi Inc.
$227,223,754 Moss & Associates
$208,217,019 Unlimited Construction Services Inc.
$144,500,000 Frank V. Coluccio Construction Company Inc.
$140,000,000 Dorvin D. Leis Co. Inc.
$122,000,000 Maryl Group Construction Inc.
$121,162,000 Royal Contracting Company Ltd.
$108,200,000 Allied Builders System


Wasa Electrical Services Inc.


2023 REVENUE: $97M

Wasa Electrical Services Inc. experienced a healthy 2 percent uptick in 2023 revenue, from $95 million in 2022 to $97 million last year.

“There were several jobs that were on hold due to the pandemic and I didn’t expect them to start up,” explains Wasa Electrical president, CEO and COO Ronald Yee. “They were gifts.”

This enabled the 74-year-old Hawai‘i electrical contractor to finish at No. 17 on this year’s list of Hawai‘i’s Top 25 Contractors, unchanged from its ranking in 2023.

Kinden Corp., Wasa’s parent company, is based in Japan. Yee credits his own company’s success to its unique business model.

“The majority of our work is negotiated — than it is government work — and that seems easier to get,” he says. “Also, we’re larger than the next three companies combined, so a lot of this work most others cannot handle.”

Wasa expanded its workforce in 2023 to 335 employees.

“Our sales are increasing, so we need more men,” says Yee. “We do all kinds of electrical. We do street lighting, underground utility work, hotels [and] shopping centers. If one sector is slow, the other is busy.”

Among the projects Wasa completed in 2023 were Kona Village, A Rosewood Resort (which was completely rebuilt after a 2011 tsunami destroyed it), the Daniel K. Akaka VA clinic in Kalaeloa and the University of Hawai‘i at Mānoa’s Residences for Innovative Student Entrepreneurs.

One key project Yee looks forward to this year is The Park on Ke‘eaumoku and its twin towers — which include affordable housing. The nearly $600 million project is set to open next year.

“It’s roughly 980 units, and there’s a commercial building with restaurants, a 7-Eleven and a bank,” Yee says. “It’ll bring more businesses back, it’s a nice area and the location near Ala Moana Shopping Center is good.”

Looking toward the future, Yee is optimistic and forecasts 10 percent growth within the industry.

“That’s good growth,” he says. “I don’t think it’s ever been that high; most times it’s three to five percent. I think the affordable housing market will be driving this growth.”

— Jackie M. Young


Alaka‘i Mechanical Corporation

Daniel Kahikina Akaka VA Clinic in Kapolei provides West O‘ahu with state-of-the-art medical services for Hawai‘i’s military veterans. PHOTO COURTESY ALAKA‘I MECHANICAL CORPORATION

2023 REVENUE: $98.6M

As Alaka‘i Mechanical Corporation marks its 50th year of business in 2024, it celebrates recent successes while approaching the future with guarded optimism.

“We did really well in 2023,” says executive vice president Joe Barrios. “In fact, it was the best year we ever had. This year won’t be quite as good, but that’s just [that 2023] was a banner year for us.”     

Alaka‘i Mechanical earned $91.2 million that year, an increase of nearly 16 percent from $78.7 million in 2022. Among the company’s top achievements in 2023 was completing $27 million in work on Sky Ala Moana, a twin-tower mixed-use project located across from Ala Moana Center. Barrios says the company started work in 2022 and completed their involvement at the end of 2023.

Another completed project is the federally-funded Daniel Kahikina Akaka VA Clinic in Kapolei, valued at approximately $130 million, which provides West O‘ahu with state-of-the-art medical services for Hawai‘i’s military veterans.

Barrios says the local housing market remains strong, but also points to potential issues that may be on the horizon.

“The Environmental Protection Agency has a new requirement for refrigerants that’ll take effect in 2025,” he says. “We’re not sure how it’s going to affect our industry.”

The current refrigerant, R-410A, has been shown to have significant global warming potential. In response, the EPA has mandated that manufacturers switch by Jan. 1.

Another concern Barrios expresses is the dramatic rise of insurance rates for condominiums, which directly impacts fees owners must pay to their condo associations. 

The key to the company’s success, he says, are people.

“We have great people here who have been with us for a long time,” says Barrios. “Our retention rate is very high.”

— Lance Tominaga


When Building Industry Hawaii introduced its Top 25 Contractors Awards in 1987, the highest revenue reported was $285 million and the lowest was $10.4 million. Here is an overview of self-reported revenue by Hawai‘i’s Top 25 contractors for the last 37 years.


Armstrong Builders LLC


2023 REVENUE: $88.2M

Coming in at No. 19 on our Top 25 list is Honolulu-based Armstrong Builders LLC, which generated $88.2 million in revenue last year. That’s a significant jump from $55.8 million in 2022.

James Keller

“It was a good year for us,” notes company president James Keller, “but it’s not that unusual for us to have a spike year. It’s really more of a function of when jobs get started, and less a function of us actively changing the way we do business. Last year, we had a lot of larger projects going on.

“We’re in a good position right now. We have a healthy backlog that takes us through the end of 2025. To be in that $60 [million] to $80 million range is kind of the wheelhouse that works for us,” he says.

Highlights from 2023 include the summer completion of a $6 million custom luxury home nestled within Kohanaiki Resort on Hawai‘i island. The property includes a single-story main residence with a detached unit and garage.

“We were still coming off some supply chain challenges,” Keller recalls, “but it turned out to be a great project for us.”

Armstrong Builders also donated the labor needed to rebuild the triangular wraparound deck of the famed Liljestrand House on Tantalus Drive in Honolulu. The home was designed by Vladimir Ossipoff, known as the “master of Hawai‘i modern architecture.”

“We had the opportunity to work on several projects with Vladimir before he passed away [in 1998],” Keller says. “So being able to participate in that renovation and help the Liljestrand Foundation meant a lot to us.”

Both projects received Grand Awards at the 2023 BIA Building Industry Design & Construction Awards.

Like other industry insiders, Keller worries about the dearth of available workers.

“A lot of younger people simply aren’t getting into the trades,” he points out. “It’s unfortunate because this can be a very lucrative field to get into, and I don’t think [it’s] being pushed enough in our high schools. I expect this will be a challenge for us over the next decade.”

— Lance Tominaga


Isemoto Contracting Company Ltd.

2023 REVENUE: $81.4M

Hilo-based general contractor Isemoto Contracting Company Ltd. was founded in 1926 by Hisato Isemoto, who is credited with building Kona Hospital, Hilo Hospital and the Puna Lighthouse. The company survived a turbulent period in Hawai‘i history when Hisato was taken by the U.S. Army to an internment camp in Santa Fe, New Mexico, during World War II. He remained confined to the camp for nearly four full years.     

Today, Isemoto Contracting is led by Hisato’s grandson, Leslie, who has guided his team to new heights. The company brought in $81.4 million in revenue in 2023, an increase from $73.2 million the previous year. That’s good enough to place 20th in this year’s Top 25 rankings.

Les Isemoto

“We managed to increase our volume last year,” Isemoto reports. “2024 is shaping up to be a pretty good year, too. We had a slow start, but we’re gaining some momentum. There are a lot more projects right now — a lot more than usual.”

Among the projects the company completed in 2023 was a $14.72 million expansion of the recently renamed Hilo Benioff Medical Center. The project served to expand the center’s oncology and administrative departments. In April, the company began a $24.8 million project to enlarge the hospital’s two-story, 19,000-square-foot Clinical Outpatient Medical Office Building.

Currently, Isemoto Contracting is working to expand and improve Waiākea Uka Park in Hilo. The project is targeted to be completed in early 2025.

As Isemoto Contracting nears its centennial anniversary, Leslie Isemoto attributes the company’s longevity to a single word.

“Persistence!” he says, smiling. “We’ve been through many different situations over the years — experienced good times and bad times — and we’ve learned a lot. We’re able to gauge what’s happening not only in Hawai‘i, but throughout the country. We also pay close attention to how different sectors of our industry are impacted by certain things.

“Because of that, we kind of know when to hold up and when to charge forward. We’re very conservative when we need to be and very aggressive when we can be.”

— Lance Tominaga


Group Builders Inc.

“We were more involved than our regular ... work,” says company president Lito R. Alcantra of the UH Residences for Innovative Student Entrepreneurs, above.

2023 REVENUE: $74M

Group Builders Inc. saw a massive 82 percent jump in revenue in 2023, rising to $74 million from $40.7 million in 2022. president Lito R. Alcantra attributes the increase to projects delayed by the COVID-19 pandemic.

“We try to be flexible in meeting our clients’ needs,” he says.

This enabled the 45-year-old drywall, millwork, cabinetry, plastering, insulation and lath contractor to move up into 21st place on this year’s list, up from No. 25 in 2023.

Group Builders also increased its workforce to 300 employees in 2023, up from 221 in 2022, and Alcantra says he expects his manpower needs to remain steady for the next three years, depending on contracts awarded.

Anacleto “Lito”Alcantra

“Although we continually train a new generation for the company’s continuity, we try our best to plan, prepare and be efficient — not just to survive, but to thrive among changes,” says Alcantra.

Some of Group Builders’ significant projects completed in 2023 include the University of Hawai‘i at Mānoa’s Residences for Innovative Student Entrepreneurs (RISE), Halewai‘olu Senior Residences and Kokua Hale Senior Living complex in downtown Honolulu.

“The UH RISE project was one where we were more involved than our regular scope of work,” Alcantra explains. “As a special project for student residents inclined towards early opportunities for business, we had a challenging accelerated completion schedule.

“Thanks to our team’s constant communication, performance and support with our suppliers, we were able to come through on schedule.”

Kokua Hale Senior Living is one of the more 
significant projects Group Builders completed in 2023.

Alcantra says he’s looking forward to Ulana at Ward Village in 2024.

“It’s one of the state’s responses to the demand for housing. Although 41 stories high in the city, residents can raise their families and enjoy amenities, just like living in a neighborhood community.”

As for the future, Alcantra remains optimistic.

“Along with changes in project schedules, other challenges such as rising material costs and manpower shortages are still expected,” he says. “There will be slow periods this year, but we can expect recovery towards the following year and thereafter.”

— Jackie M. Young


Ralph S. Inouye Co. Ltd.


2023 REVENUE: $68.1M

Ralph S. Inouye Co. Ltd. (RSI) repeats at No. 22 on this year’s list.

The Hawai‘i-based corporation was founded in 1962 and has a
reputation for working on a diverse range of projects, spanning commercial and private clients, along with federal, state and city agencies. RSI is also known for its specialties in design-assist, design-build and fast-track construction. The firm brought in revenue of $68.1 million in 2023.

Projects such as the Wahine Softball Stadium at the University of Hawai‘i at Mānoa (Phase IIB) and whole-school renovations at August Ahrens Elementary School helped secure those gains. The firm subcontracts approximately 70 percent of its work.

RSI also broke ground on the $48 million Wahiawā Civic Center in 2023. The highly anticipated development will provide various state and city services in one location, including a new court facility, state office complex and satellite city hall, with completion scheduled for December.

Other current projects include Phase 2 work at Kapi‘olani Community College’s Culinary Institute of the Pacific (expected completion in December); renovations at Leeward Community College’s Product Development Center (completed in April); and work at the Manana Corporation Yard, which is expected to finish in August.

As RSI looks forward to 2025, Inouye says the industry will need to be able to educate and train professionals to meet current and future demands.

“Workforce development becomes increasingly important to successfully complete projects,” he says.

— Chris Aguinaldo

Biggest Employers

The top 10 biggest construction employers in Hawai‘i, according to companies’ self-reported 2023 data.

Company Name # of Emlployees 2024 Rankings
Nan Inc 1,396 2
Hawaiian Dredging Construction Company Inc. 923 1
Hensel Phelps 557 3
Goodfellow Bros. 528 6
Dorvin D. Leis Co. Inc. 500 12
Wasa Electrical Services Inc. 335 17
Coastal Construction Co. Inc. 300 16
Kiewit Corporation 300 5
Alaka‘i Mechanical Corporation 273 18
Swinerton 269 7


Layton Construction Company LLC


2023 REVENUE: $64.1M

Layton Construction comes in at No. 23 on our Top 25 Contractors list, reporting $64.1 million in revenue in 2023. That represents a 45.4 percent drop in revenue compared to 2022, when they brought in $117.3, earning them the No. 12 spot last year.

Mike Parker, senior preconstruction manager, still sees reasons for optimism.

Mike Parker

““With the post-pandemic recovery now mostly complete, this will likely lead to increased construction activity,” he says. “Locally, the award of several large federal and state contracts will also bolster the construction industry.

“On Maui in particular, we will see an uptick in construction related to post-wildfire reconstruction.”

Despite a challenging 2023, the company still had much to celebrate. The past year saw Layton complete work on a recreational facility at Wai Kai, the David Pratt Center at Island School on Kaua‘i, a Honolulu Coffee retail store at the Grand Hyatt Kauai, the Ritz-Carlton Waikiki Penthouses, the Waiohai Sales Center Reno and the private Swanepoel Residence.

The company, which joined the STO Building Group in 2019, continues work on several ongoing projects, including the expansion of the Maui Coast Hotel, a Rivian service center, the Montage Hotel, demolition of the Coco Palms Resort, Block B at Kalae, a roof replacement at Mahana Ka‘anapali, temporary housing in Kapalua, demolition work for United Public Workers Kauai, site work at the Grand Hyatt Kauai and the private Lowe Residence.

Additionally, Layton conducts extensive charitable giving operations, volunteering 1,877 hours in our local communities and donating $24,994 of assistance in cash and services last year. This includes sponsoring two community workdays at Honolulu Habitat for Humanity; cleaning, painting and repairing backstops and dugouts at keiki baseball fields in Hanapepe, Kaua‘i; and donating laptops to residents of ‘Ohana Hope Village on Maui, who were displaced by the Lāhainā wildfires.

Also joining the Layton team in Hawai‘i this year: John Maiurano, senior scheduler, Sarah Owen, cost accountant and Rochelle Pagaduan, estimator.

Richard Melendez


Shioi Construction Inc.


2023 REVENUE: $59M

Kaua‘i-based Shioi Construction Inc. slips one spot to No. 24 on this year’s list, despite recording an impressive 25.5 percent increase in revenue last year. The growth is similar to what the industry as a whole experienced in 2023.

Shioi completed two major projects on the Garden Isle in 2023, according to the company.

Roy Shioi

“The Kaua‘i High School new gymnasium … took 20 months to build, [with a] contract value of $21,469,110,” says president Roy Y. Shioi. “Timbers Townhomes, two luxury buildings [consisting] of six units each, took 16 months to build and [had] a contract value of $32,971,363.”

These high-profile projects contributed to Shioi’s remarkable revenue increase in 2023, but also serve to demonstrate the company’s ability to take on diverse construction challenges in both public and private sectors. Shioi was able to overcome significant supply chain disruptions and material shortages caused by the COVID-19 pandemic.

The new Kaua‘i High School gymnasium is a multi-use facility, with seating for 1,600 attendees, a designated cheerleading and wrestling room, four locker rooms and two team meeting rooms. There are administrative offices as well, along with additional conference and storage rooms. The school’s approximately 1,110 students now enjoy a modern, state-of-the-art athletic facility, due in large part to Shioi’s efforts.

Timbers Townhomes is part of the 450-acre Hokuala Resort in Līhu‘e. From excavation and backfill operations to rough and finish carpentry work, the company’s versatility and expertise in all phases of construction are on display.

Shioi’s growth in 2023 contributed significantly to Kaua‘i’s economy, hiring dozens of subcontractors and suppliers for its projects and pumping millions of dollars into the local economy by providing jobs to local residents.

The only thing better about 2023, which was a banner year for the company, according to Roy Shioi?

“In 2023, Shioi Construction
celebrated its 75th anniversary,” he says with pride.

— Jamie Winpenny 


M2K Construction LLC

M2K says work at Bringham Young University-Hawaii, pictured above and at top, is particulary innovative. PHOTOS COURTESY M2K CONSTRUCTION LLC

2023 REVENUE: $47M

M2K Construction LLC makes an impressive debut on the Top 25 Contractors list, placing at No. 25 this year.

How impressive? The company’s self-reported revenue jumped from $33 million in 2022 to $47 million in 2023 — a whopping 42.4 percent increase.

Founded in 2009, M2K Construction’s specialties include framing, drywall and con-crete-related work. Its parent company is The Kong Group Inc. Recently completed projects include the Waikoloa Family Affordable Rentals on Hawai‘i island, D.R. Horton Kaikea Townhomes at Ho‘opili in ‘Ewa Beach, a management office for Island Palm Communities at Schofield Barracks, the Maui Marketplace, Kaiāulu O Halele‘a affordable housing in Kīhei, Seafood City Supermarket tenant improvements in Kahului, the Queen’s Health Care Center in Mililani and Kamehameha Schools’ Maui softball field. Most of its work is private, with public sector projects accounting for just 2 percent of all work. Approximately 10 percent of all projects are subcontracted.

Projects currently underway include D.R. Horton’s Kanalani single-family homes at Ho‘opili, student housing at Brigham Young University–Hawaii (BYUH), Kaiāulu O Kūku‘ia affordable housing in Lāhainā, BYUH’s Temple View Apartments, Hale Nā Koa ‘O Hanakahi affordable housing in Hilo and the Lūhauola mixed-use development in Kapolei.

The BYUH hale project, with Okland Construction as general contractor, is particularly innovative, says president Mark Kong.

“It consists of three 89,000-square-foot, four-story dormitories that house over 900 students yearly from around the world. We are installing a metal joist and metal truss system, which is unique compared to wood structures,” he says.

Kong is also proud of the company’s work in building residences statewide.

“M2K has been a part of Hawai‘i’s housing solution by providing affordable housing to our local communities on O‘ahu, Maui and the Big Island,” he says. “The outlook for 2024 and into 2025 remains very strong with affordable housing projects as well as commercial retail projects breaking ground.”

— Chris Aguinaldo

Hawai‘i’s Legacy Companies

The Top 25 Contractors listed below all have at least 50 years of service in the islands. Five of this year’s Noteworthy Contenders — S & M Sakamoto Inc., Healy Tibbitts Builders Inc., Quality General Inc., Constructors Hawaii Inc. and Alan Shintani Inc. — are also included on the list.

Company Name Count
Hawaiian Dredging Construction Company Inc. 122
Isemoto Contracting Company Ltd. 98
Nordic PCL Construction Inc. 86
S & M Sakamoto 84
Kiewit Corporation 76
Shioi Construction Inc. 76
Wasa Electrical Services Inc. 74
Royal Contracting Company Ltd. 63
Ralph S. Inouye Co. Ltd. 62
Albert C. Kobayashi Inc. 61
Healy Tibbitts Builders Inc. 60
Dorvin D. Leis Co. Inc. 57
Quality General Inc. 55
Allied Builders System 54
Goodfellow Bros. 52
Constructors Hawaii Inc. 52
Coastal Construction Co. Inc. 50
Alaka‘i Mechanical Corporation 50
Alan Shintani Inc. 50

Noteworthy Contender

Kapili Solar Roofing & Painting

AOAO Country Club Village in the Salt Lake area of Honolulu is one of Kapili Roofing’s recent residential projects. PHOTOS COURTESY KAPILI SOLAR ROOFING & PAINTING

2023 REVENUE: $38.7M

Family-owned company Kapili Solar Roofing & Painting is a Noteworthy Contender this year. Long known as one of the state’s premier roofing and painting contractors, the company boasted a banner year as revenue shot through the roof, with $38.7 million in revenue in 2023, compared to $27 million in 2022.

“It is an honor to be considered for the Top 25 Contractors this year,” says Kapili owner and president Brennan Leong. “Earning this recognition is a confirmation that our team’s hard work and perseverance is yielding a positive result. We strive to improve and evolve in what we do, to equip us to provide the best services and end-product for our customers.”

Founded in 2007, the company offers a comprehensive range of roofing services and works on various residential, commercial and government projects. A substantial 40 percent of its work is made up of public sector projects. About 10 percent of work is subcontracted.

The company recently completed a roof coating and thermoplastic polyolefin roof replacement on various buildings at the Bishop Museum, roof replacement and exterior improvements at Leeward Community College Wai‘anae Moku and roof replacement at Waimaha Sunflower Apartments in Wai‘anae.

Another completed project in Central O‘ahu was close to Leong’s heart.

“One particular project I am proud of is a roof replacement project at Wahiawā District Park. I spent many hours here skateboarding with my friends growing up,” he says. “It was great to come back years later, to be able to work on this building alongside some of the friends I skated there with, and to perform the work that was needed for this building.”

Ongoing projects include work at Kamaole Sands AOAO in Kīhei and Don Quijote Pearl City, and roof replacement at Patsy T. Mink Central O‘ahu Regional Park.

The company also recently topped the Building Industry Hawaii Top 10 Roofers of 2024.

“2023 was the first year that we were ranked first in the top ten roofers,” says Leong. “This was an honor, and a long-time goal of our teams to accomplish.”

— Chris Aguinaldo

Noteworthy Contender

S & M Sakamoto Inc.

Among last year’s completed projects is work at Waipahu High School, pictured above. PHOTO COURTESY S & M SAKAMOTO INC.

2023 REVENUE: $37M

For the second year in a row, S & M Sakamoto Inc. (SMSI) is a Noteworthy Contender in this year’s Top 25 Contractors Awards.

The firm has served clients in the islands since 1940 and steady work kept them in the black last year, with self-reported revenues of $37 million. The firm services a number of public sector clients, which provides approximately 80 percent of its work. About 70 percent is subcontracted.

Company president Dale S. Yoneda happily notes that the entire staff “remained healthy and worked consistently during 2023!”

Completed projects in the last year include the Women’s Community Correctional Center’s Ho‘okipa Makai Cottage and new housing; a new Genki Sushi restaurant in Ewa Town Center; Waipahu High School’s Integrated Academy Building and Academic Health Center; and suites at the Blaisdell Exhibition Hall.

Dale Sakamoto Yoneda

The Waipahu High School Integrated Academy Learning Center was a project “that went beyond mere construction,” Yoneda says. “This groundbreaking facility, the first of its kind in the state, serves as the intersection of education and community, aiming to integrate the Academy of Natural Resources’ pathways — food systems, natural resources business and natural resources management — with the culinary pathway of the Academy of Professional and Public Services, thereby fostering sustainable farm-to-table practices.”

A slate of projects will keep the firm busy in 2024, including Hy’s Steakhouse kitchen renovations (scheduled for completion in May), Wahiawā Police Station renovations (scheduled for completion in July), Queen Street retail construction (scheduled for completion in September) and Oceanit Level 1 and 6 renovations (scheduled for completion in February 2025).

“We anticipate 2024 will be a busy year for the construction industry, driven by strong demand and ongoing projects,” Yoneda says.

“Looking ahead to 2025, we expect this momentum to continue, fueled by a robust pipeline of state and city projects. This sustained activity will provide ample opportunities for further development and innovation within the industry.”

— Chris Aguinaldo

Noteworthy Contender

Paradigm Construction LLC

Paradigm frequently puts the “ground” in “ground-up” construction. PHOTO COURTESY PARADIGM CONSTRUCTION LLC

2023 REVENUE: $36.8M

Indicators for Hawai‘i’s construction industry were definitely a mixed bag in 2023. Government contracts and capital improvement projects increased statewide, while private building authorizations and construction jobs decreased by more than 30 percent.

Among those who finished strong last year was Paradigm Construction, with an increase in revenue of almost 19 percent, from $31,024,688 in 2022 to $36,771,775 in 2023, earning the company a second-straight Noteworthy Contender award in this year’s Top 25.

Much of Paradigm’s work is focused on civil infrastructure for residential developments. Grading work and underground projects are mostly invisible once a subdivision is move-in ready, but the quality of that work has far-reaching implications for property values and public safety.

Paradigm’s work is often the “ground” part of “ground-up” subdivision construction, as is the case at Castle & Cooke’s massive Koa Ridge development in Central O‘ahu and a variety of projects with Ewa by Gentry.

In 2023, Paradigm Construction completed work on Koa Ridge, Ho‘opili Phase 13 (Parcels 92 and 107), while the company’s work on Phase 11 of the Ho‘opili project was scheduled for completion at the end of June. The company’s work on Kapolei Harborside’s harbor access road is another vital infrastructure project scheduled for wrap in April 2025.

Not all ofParadigm’s work is unseen, however. Notable projects completed in 2023 included exterior improvements at Bishop Museum and much-needed traffic improvements at the Middle Street Intermodal Center. 

Alex Kwon

Paradigm was founded by owner Alex Kwon in 2005 and has since established itself as a reliable partner for Hawai‘i’s largest developers.

“Being one of the Top 25 contractors in Hawai‘i is a huge honor for the company, but it also means that our hard-working employees, subcontractors and vendors worked very diligently,” Kwon says. “And of course, it would not be possible without our clients.”

— Jamie Winpenny

Noteworthy Contender

Alan Shintani Inc.

Waikoloa Affordable Housing Project

2023 REVENUE: $29.2M

Alan Shintani Inc. celebrates 50 years as a Hawai‘i general contractor in 2024, after the company was founded by Shintani and his wife as Home Projects Construction in 1979.

Despite a 20.7 percent decrease in revenue — from $36.8 million in 2022 to $29.2 million in 2023 — the company completed multiple federal and residential projects, exceeding expectations and earning national recognition for its exemplary safety standards.

Alan Shintani Inc. received the 2023 National Association of Home Builders Siding Contractor Safety Program of the Year Award, as well as 2023 General Contractors Association Construction Safety Awards for Best in Category and Zero Incident Rate. The accolades are fitting acknowledgments of Shintani’s attention to safety and detail.

Projects completed in 2023 include the Navigation, Seamanship and Ship Handlers Training Building on Ford Island and Waikoloa Family Affordable Rental Housing on Hawai‘i island, which is a uniquely innovative project featuring a highly efficient solar hot water system.

Ongoing projects this year include Hocking Hale Affordable Rental Apartments in Honolulu’s Chinatown Arts District, which is scheduled for completion in September with a grand opening for residents in November. The project is deemed an “adaptive reuse” of the Hocking Building, which was originally built as a hotel in 1914. Upgrades include a variety of energy-saving technologies, including photovoltaic/solar water heating and Energy Star appliances in each of the building’s 40 studio, one- and two- bedroom apartments.

Also scheduled for completion in June is a HVAC replacement project in Building 398 at the Navy Western Oceanography Center.

Fred Kim

According to Fred Kim, Alan Shintani Inc. president, challenges and opportunities lie ahead for Hawai‘i’s construction industry in 2024 and beyond.

“The public sectors like transportation, infrastructure upgrade[s], education, renewable energy and federal/DOD are expected to be active, while the housing and commercial development will be lagging due to high interest rate[s] and delays in obtaining permits,” he says.

— Jamie Winpenny

Noteworthy Contender

Healy Tibbitts Builders inc.

Above: Healy Tibbitts’ completes work on the Hawaii Kai Marina groin. PHOTO COURTESY HEALY TIBBITTS BUILDERS INC.

2023 REVENUE: $27.1M

Noteworthy Contender Healy Tibbitts Builders Inc.’s parent company, Weeks Marine Inc., was acquired by Kiewit Corp. in early 2023. Changes in corporate ownership/management is likely a leading factor in the company’s nearly 35 percent decrease in revenue last year, but the scale, scope and impact of its Hawai‘i projects merit mention in this year’s lineup.

Healy Tibbitts stands out among Hawai‘i’s construction industry contractors with its
work in marine construction and dredging. Two of the company’s projects in 2023 received General Contractors Association of Hawaii (GCA) Build Hawaii Awards for Excellence.

Of all its work, 95 percent of Healy Tibbitts’ projects are public sector/government contracts and vital to the operation of Hawai‘i’s commercial harbors along with the preservation and conservation of our state shorelines.

The company’s work on the City & County of Honolulu’s Sand Island Ocean Outfall Shoreline Revetment project was recognized by GCA for creating essential protection for an 84-inch outfall pipeline that faced grave threats of erosion due to rising sea levels.

Other projects completed in 2023 include the Lāhainā Small Boat Harbor Ferry Pier and New Administration Building.

“The Lāhainā Small Boat Harbor Ferry Pier Improvements project for DLNR was a remarkable achievement despite the many challenges,” says president Rick A. Heltzel. “The cooperative effort of Healy Tibbitts, DLNR and designer Mitsunaga & Associates led to innovative solutions that produced an outstanding pier facility.”

Current projects scheduled for completion in 2024 include repairs to a 24-inch waterline crossing at Ford Island and Phase IV of Honolulu Harbor’s dredging operation.

Looking ahead, “Department of Defense focus on the Pacific and significant federal and state investments in upgrading aging infrastructure will provide a healthy market for [our] specialties,” says Heltzel.

— Jamie Winpenny

Noteworthy Contender

Quality General Inc.

In 2024, Quality General is installing decorative masonry at the Wahiawa- Civic Center, pictured above. PHOTO COURTESY QUALITY GENERAL INC.

2023 REVENUE: $25.7M

Quality General’s total revenue of $25.7 million for 2023 landed them in this year’s Hawai‘i Top 25 Contractors Noteworthy Contenders list. The company saw a 45.2 percent revenue increase this past year, with 2022’s total coming in at $17.7 million.

The company specializes in general contracting, masonry and structural and subdivision concrete. Approximately 40 percent of Quality General’s work is in the public sector, with another 20 percent being passed along to subcontractors.

But Quality General’s private sector work is what brought in the big bucks for 2023.

CFO Ryan Wada says working on Diamond Head Theatre was one of the more daunting projects of the year. The company understood the challenge of upgrading such an important structure located in a residential area and thinks the project “came up great.”

Quality General’s 2023 portfolio of completed projects also includes upgrades for Verizon Communications Inc. and remodeling the Brigham Young University–Hawaii Cafeteria Plaza.

Ryan Wada

“You could say it was kind of … just by chance that all of these projects were getting greenlit in 2023,” Wada says.

Another milestone last year was breaking ground on the company’s new building at Koa Ridge after a long wait for permit approvals.

“That was something in the making for like, decades … probably in the thoughts for the last thirty years,” Wada says.

The property was purchased in 2021 and construction began in fall of last year. While much of the work is complete, efforts continue to connect a permanent power supply, sourcing needed electrical equipment and completing the building’s heating and cooling system.

Wada predicts the new building will be completed by September or October.

More projects underway this year are support facilities for the city’s Department of Environmental Services in Honouliuli, renovations at Pearl Country Club and installing decorative masonry at the Wahiawā Civic Center.

“I think … this year is going to be a lot more than last year,” Wada says. “More projects and bigger projects, so [2024] is turning out to be a really great year.”
– Vanessa Hathaway

Noteworthy Contender

Constructors Hawaii Inc.

Some of Constructors Hawaii’s completed work in 2023 is at Straub Medical Center. PHOTO COURTESY CONSTRUCTORS HAWAII INC.

2023 REVENUE:$20.4M

Constructors Hawaii Inc. returns to Building Industry Hawaii’s list of Noteworthy Contenders after seeing a nearly six percent increase in revenue to $20.4 million in 2023.

Established in 1972, the longtime general contractor proves to be highly versatile, completing a number of projects for healthcare industry leaders in Hawai‘i, with more recent projects completed in a variety of Hawai‘i business sectors.

Finished projects in 2023 include Genki Sushi Pearlridge and the relocation of Straub Medical Center’s Ears, Nose & Throat Department to Waterfront Plaza. This year, the company is expected to complete work at the Town Center of Mililani in May along with a renovation of Straub Medical Center’s MRI facility in June.

“Our standout [2024] project is the new medical office building at Mililani Town Center,” says Constructors Hawaii president Colin Yoshiyama of current and upcoming projects, which are many. “Healthcare is one of our strongest sectors and we love the immediate impact that new healthcare facilities bring to the surrounding communities.

“We will also be starting construction of the new Blood Bank of Hawaii headquarters in Kapolei soon. We ended the year [2023] strong with a lot of new opportunities. My outlook for 2024 and 2025 is optimistic. We continue to be very busy.”

– Jamie Winpenny

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