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RALPH S. INOUYE CO. LTD. rsinouye.com
R alph S. Inouye Co. Ltd. (RSI), one RSI project combined all three. RSI’s spectacular Kūnuiākea Track Replacement project at Kamehameha Schools Kapālama not only rebuilt the facility’s concrete substrate, turf and track, it installed a new self-drainage system beneath a new synthetic field. And the company completed it in less renowned for its eye-catching builds and exacting standards, also specializes in “fast-track” construction. Last year,
Despite a busy year, RSI slid seven points from its No. 15 spot in 2022 to No. 22 in 2023. Earnings fell 27.3 percent, from $68.1 million in 2021 revenue to $49.5 million last year. “Ongoing projects encountered delays, result- ing in a decrease in revenues versus 2021,” Inouye explains. “However, notably, we were able to secure over $100 million in new contracts.” Ongoing 2023 projects and their sched- uled completion dates include the Manana Corporation Yard (expected completion last month), Leeward Community College’s Product Development Center (expected completion this month) and Leeward Refuse Collection Facility (expected completion in December). The 61-year-old Hawai‘i company says it performs 80 percent of its work in the public sector, and usually subcontracts 65 percent of its work. RSI’s outlook for 2023 is “challenging but hopeful,” Inouye says. “Hopeful that the industry remains healthy, but supply chain, cost escalations and manpower will remain challenges to overcome.” – Brett Alexander-Estes
2022 REVENUE: $49.5M
YEARS IN HAWAI‘I: 61
EMPLOYEES: 62
than six months in an area larger than two acres in size. “We finished the project on time,” confirms Blake Inouye, who became RSI president and CEO this year. Other projects completed by RSI in 2022 include Million Air’s Hawai‘i fuel facility, renovations to Ford Island Building 97 and various improvements at Windward Community College.
RSI’s two-acre Ku- nui -akea Track Replacement project installed a new field, substrate and utilities. PHOTO COURTESY KAMEHAMEHA SCHOOLS
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70 | BUILDING INDUSTRY HAWAII | JULY 2023
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