Private Funding Resources in Hawaii
There are different avenues of financing available to renewable energy companies that can be pursued depending on the development stage of your project from conventional lending institutions, to private equity and venture capital firms.
1) Hawaii Angels (Private Equity)
Summary: Angel investors are high net-worth individuals who make equity investments in entrepreneurial businesses. Individual members have invested more than $30 million in various companies and have played a significant role in Hawaii’s start-up community. Members often mentor entrepreneurs and provide new companies with valuable business advice and important contacts. The group typically invests in seed and start up companies.
2) Hawaii Venture Capitol Association (HVCA)
Summary: Venture capital is a subset of private equity and is popular among new companies or ventures with limited operating history, which cannot raise funds by issuing debt. Most venture capital comes from a group of wealthy investors, investment banks and other financial institutions that pool such investments or partnerships. The Hawaii Venture Capital Association was founded in 1988 to serve as the nexus for entrepreneurship, capital formation and networking. Pleaser refer to the company website for more information and contacts.
3) Commercial Scale Renewable Energy Investment Firms
Summary: The following list represents a sample of local and mainland investment firms that engage in renewable energy project finance, investment and consulting services for commercial scale projects in a variety of technologies. Certain solar installers also offer solar financing via power purchase agreements or other arrangements for nonprofit and for-profit entities.
4) Financial Institutions
Summary: Conventional lending institutions offer an array of debt instruments from business loans to credit lines that can often compliment the overall financing profile of renewable energy companies that have an established business record or other means of establishing collateral. Compare local rates by asset size at Hawaii Banking Rates
American Savings Bank
1001 Bishop Street, Suite 100 Honolulu, Hawaii 96813
American Savings Bank Customer Service Number: 800-272-2566
Bank of Hawaii
111 South King Street Honolulu, Hawaii 96813
Bank of Hawaii Customer Service Number: 888- 643-3888
Central Pacific Bank
220 South King Street Honolulu, Hawaii 96813
Central Pacific Bank Customer Service Number: 800-342-8422
Finance Factors, Ltd.
1164 Bishop Street Honolulu, Hawaii 96813
Finance Factors Customer Service Number: 800-648-7136
First Hawaiian Bank
999 Bishop Street Honolulu, Hawaii 96813
First Hawaiian Bank Customer Service Number: 888-844-4444
Hawaii National Bank
45 North King Street, 7th Floor Honolulu, Hawaii 96817
Hawaii National Bank Customer Service Number: 808-528-7711
Ohana Pacific Bank
1357 Kapiolani Boulevard, Suite 102 Honolulu, Hawaii 96814
Ohana Pacific Bank Customer Service Number: 808-237-6551
Territorial Savings Bank
1000 Bishop Street Honolulu, Hawaii 96813
Territorial Savings Bank Customer Service Number: 808-946-1400
5) Small Business Administration Loans
Summary: Small Business Administration (SBA) loans are business loans guaranteed by the Federal government. They are designed to provide longer-term financing to small businesses that may need longer repayment terms or other special considerations. Specifically, the 7(a) Loan Program( which is the most basic and frequently used type of SBA loan) comes from section 7(a) of the Small Business Act, which authorizes the agency to provide business loans to American small businesses. SBA loans are administered by a variety of Hawaii lenders, many of which are listed above.
These resources are advisory and for informational purposes only and may not be relied upon to determine the available incentives. Contact the appropriate agencies and entities for information on local, state, and federal incentives for renewable energy. The listings, associations, and contacts herein are provided for informational purposes only and are not meant to be all inclusive. The Hawaii State Energy Office does not endorse or certify the individuals, firms ,or businesses on these lists. If you are a firm that engages in the specialization of commercial scale renewable energy project development, finance, consulting or investment services and wish be to added to the content found in these following summary pages, we welcome you to contact us and provide your information for listing.
For comments or questions about the Developer & Investor Center, please contact the Hawaii State Energy Office.