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ALBERT C. KOBAYASHI INC. ack-inc.com
Albert C. Kobayashi worked on the pools at Turtle Bay Resort in 2022. PHOTO COURTESY ACK
“D espite many uncertainties in the marketplace, we were fortunate to maintain a rela- tively consistent volume,” says Michael Young, president and CEO of Albert C. Kobayashi Inc (ACK). The company moved up one notch to No. 5 with $309 million in revenue in 2022, despite a 2 percent drop from the previ- ous year’s $316.3 million. “We’re focused on maintaining relationships with our clients and subcontractors as well as remaining flexible in the marketplace to best prepare for the future.” –Michael Young, president and CEO The 60-year-old company, founded and named after Young’s grandfather, holds a diversi- fied portfolio — ranging from schools and retail to affordable rentals and luxury condos. The diversification is critical in the current economy, as higher lending rates and inflation impact Hawai‘i’s construction industry.
ACK completed two major projects in 2022: Kahuku’s Turtle Bay Resort, a $100 million trans- formation of the lobby, guest rooms, banquet facili- ties and pools. The company completed $90 million Hale Kalele Residences, a new 20-story Honolulu tower with 200 affordable rental units built above a juvenile service center for low-end law violators. Over the next 30 months, ongoing projects for ACK include Sky Ala Moana’s high-rise twin tower residences and hotel, scheduled to finish on Kapi‘olani Boulevard in the fourth quarter of 2023; and The Park Ward Village, the eighth high-rise for Howard Hughes’ master-planned community; with a target completion date in the third quarter of 2025. On the island of Lana‘i, ACK is building Hokuao Lana‘i, an affordable-rate rental neighborhood with 150 units. The highly anticipated project is slated for completion in summer 2024 and fills a dire need for housing for the island’s 3,000 residents. More construction projects for ACK will be announced over the next few months. Meantime, Young says, “Hopefully, a few of these projects will move forward, creating exciting opportuni- ties for our company and our employees.” – Cathy Cruz-George
2022 REVENUE: $309M
YEARS IN HAWAI‘I: 60
EMPLOYEES: 257
Michael Young
32 | BUILDING INDUSTRY HAWAII | JULY 2023
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