## # 17
WASA ELECTRICAL SERVICES INC. wasahawaii.com
W asa Electrical Services Inc. saw a 14 percent downturn in reve- nue, from $111 million in 2021 to $95 million in 2022, landing the company at No. 17 on Hawai‘i’s Top 25 Contractors list, a five-spot drop from last year. President, CEO and COO Ronald Yee attri- butes the loss to two important projects — the Ala Moana Pacific Plaza condo and the Hokuala timeshare hotel on Kauai — being put on hold due to financing issues. The company, a branch of construction arm U.S. Kinden, with corporate offices based in Japan, has operated in Hawai‘i for 73 years. “On the positive side, we did not incur any liquidated damages during 2022 — or at all — so things turned out well,” Yee points out. “This was in spite of dealing with major supply prob- lems like everyone else — some of our ordering lead times were two years!” To mitigate this, Wasa ended up having to fly parts in or have crews work overtime. Yee, who has been with the company for 51 years, also credits business remaining steady in
2022 REVENUE: $95M
YEARS IN HAWAI‘I: 73
EMPLOYEES: 325
Wasa Electrical Services installed the lighting at Ko- ‘ula, the sixth of 14 residential towers to open in Ward Village according to the mas- ter plan by Howard Hughes Corp. General Contractor Wasa Electrical has a work- force of nearly 350 union member electricians of Local 1186 IBEW and 15 engineers to meet Hawai‘i’s most demanding electrical design and installations.
PHOTO COURTESY WASA ELECTRICAL SERVICES INC.
HIGHS AND LOWS When Building Industry Hawaii introduced its Top 25 Contractors Awards in 1987, the highest revenue reported that year was $285 million and the lowest was $10.4 million. Here is an overview of the self-reported revenue by Top 25 companies for the last 35 years.
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60 | BUILDING INDUSTRY HAWAII | JULY 2023
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