The companies that run on island time
A handful of public companies are tied closely to Hawaiʻi: the banks that hold its savings, the ships that carry its groceries, the utility that keeps its lights on. Their stock prices are a running scorecard of the island economy.
Island Index against the S&P 500
$10,000 split evenly across Hawaiʻi-rooted companies in January 2010, rebalanced each year, dividends reinvested, compared with the same money in the S&P 500.
- Island Index
- $64,229
- +11.7% a year
- S&P 500
- $96,310
- +14.5% a year
The gap is the lesson. Hawaiʻi's companies depend on one small economy built on visitors, the military and imported everything. The S&P 500 spreads your money across hundreds of businesses in every industry, including the technology companies that drove most of the market's gains since 2010. Owning only what is close to home is a form of concentration risk.
First Hawaiian (FHB) only began trading in August 2016, so it is not part of this 2010 chart. Prices through Oct 2026, updated 2026-10-21.
Companies with island roots
| Company | Last five years | 5-year return | Since 2010 |
|---|---|---|---|
| Bank of HawaiiBOH, banking | +1% | +176% | |
| First Hawaiian BankFHB, banking | +14% | +43%since Aug 2016 | |
| Central Pacific FinancialCPF, banking | +66% | +79% | |
| Hawaiian Electric IndustriesHE, utility | -76% | -21% | |
| MatsonMATX, shipping | +203% | +2073% | |
| Alaska Air GroupALK, airline | -33% | +400% | |
| Maui Land & PineappleMLP, land | +37% | +365% | |
| Host Hotels & ResortsHST, hotels | +91% | +328% |
For comparison
The whole market, a national bank, a global hotel company and the warehouse store many island families shop at.
| Company | Last five years | 5-year return | Since 2010 |
|---|---|---|---|
| S&P 500 index fundSPY, U.S. stocks | +79% | +863% | |
| JPMorgan ChaseJPM, banking | +122% | +1211% | |
| MarriottMAR, hotels | +163% | +1836% | |
| CostcoCOST, retail | +112% | +2340% |
Total returns include reinvested dividends. Sparklines show the last five years.
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