Ulupono Initiative

Ulupono Initiative is a private Hawaii-focused organization established in 2009 by eBay founder Pierre Omidyar and his wife, Pamela Kerr. Both founders had childhood connections to Hawaii, and they created the organization to support practical changes in the islands' food, energy, transportation, water, and waste systems. Rather than operating as a conventional consumer brand, Ulupono combines impact investing, nonprofit grant-making, research, coalition-building, and public-policy advocacy. Its stated areas of interest include increasing the amount of food produced locally, expanding renewable energy, supporting cleaner transportation, and improving water and waste management. The organization has used for-profit investments to back businesses and infrastructure projects connected with those goals. Its disclosed or publicly reported portfolio has included solar energy, biofuels, electric-vehicle charging, local agriculture, aquaculture, waste reduction, and energy-efficiency ventures. Examples include Hawaii Dairy Farms, Honolulu Seawater Air Conditioning, Sopogy, SolarCity, Blue Ocean Mariculture, Hawaii BioEnergy, Phycal, Kapalua Farms, Oceanic Institute Research Feed Mill, Ibis Networks, and Bioenergy Hawaii. Ulupono's work has also extended into civic infrastructure and public policy. It was the principal funder of the Local Food Coalition campaign supporting Hawaii Constitutional Amendment 2 in the 2014 general election. The amendment authorized the state to issue special-purpose revenue bonds to assist agricultural enterprises on a broader range of land than previously permitted. The measure passed by 50.2 percent of the vote, one of the narrowest margins recorded for a Hawaii ballot measure. Supporters presented the amendment as a way to improve agricultural financing, while opponents, including the League of Women Voters, warned that large commercial agribusinesses could gain an advantage over smaller farms. The organization has participated in debates over major infrastructure projects. In 2017 it commissioned a JLL analysis of Honolulu's rail project that estimated potential construction savings from greater use of private contractors, while also identifying a substantial remaining public-funding gap. Honolulu's planned public-private partnership effort was later abandoned, and the first 11-mile segment of the rail system opened in 2023. Ulupono has also invested in Honolulu Seawater Air Conditioning, a proposed district-cooling project that ultimately announced the end of operations in early 2021 after prolonged delays and rising construction costs. Its civic and mobility activities include funding support for Bikeshare Hawaii, operator of Honolulu's Biki bike-sharing system. Biki launched in 2017 and experienced severe pandemic-related revenue pressure, leading to service reductions in 2021. Use subsequently recovered as tourism returned, and the service reported nearly six million rides by its sixth anniversary in 2023. Overall, Ulupono presents itself as a Hawaii-oriented systems-change organization: it seeks financial, environmental, and social returns through a mix of capital deployment, advocacy, and community-oriented programs.

Ulupono Initiative was established in 2009 by Pierre Omidyar and Pamela Kerr. The founders' personal ties to Hawaii informed the creation of an organization focused specifically on the islands' economic, environmental, and infrastructure challenges. From its beginning, Ulupono was structured around a blended approach rather than a single operating business. It could invest in commercial ventures, provide nonprofit grants, commission research, and participate in policy advocacy when those activities supported its objectives. The organization's core agenda has centered on four interconnected systems: local food production, renewable energy, clean transportation, and the management of water and waste. Ulupono has argued that Hawaii's geographic isolation makes local capacity especially important. Its investment activity has therefore covered businesses and projects intended to reduce dependence on imported food and fuel or to improve the efficiency of island infrastructure. Publicly identified investments have included solar and bioenergy companies, electric-vehicle charging, aquaculture, agricultural operations, research facilities, and waste-related enterprises. Agriculture became a prominent part of Ulupono's public-policy work. The organization supported the Local Food Coalition and advocated Hawaii Constitutional Amendment 2, a 2014 proposal concerning special-purpose revenue bonds for agricultural enterprises. The amendment broadened eligibility beyond the state's previously defined important agricultural lands. It passed with 50.2 percent of the vote. Ulupono reportedly contributed $500,000 of the coalition's $507,400 in campaign funding. Supporters viewed the measure as a financing tool for agriculture, while critics expressed concern that publicly enabled, low-cost financing could give large for-profit agribusinesses an advantage over smaller farms. Ulupono also became involved in Hawaii's effort to preserve agricultural land. Honolulu-based Ulupono received $875,000 in state tax credits under a 2008 program that encouraged landowners to preserve prime farmland in perpetuity. The organization linked the incentive to its willingness to take risk in a dairy project, although Hawaii Dairy Farms did not ultimately succeed. This episode illustrates the organization's model: public incentives, private capital, and local economic development were combined in projects intended to strengthen Hawaii's food system, but individual ventures remained exposed to commercial and operational risks. Energy and infrastructure investments produced both continuing initiatives and setbacks. Ulupono invested $1 million in Honolulu Seawater Air Conditioning in August 2013 and, with Capital Cooling, acquired a majority stake in November 2014. The project envisioned a large district-cooling system using seawater, supported by special-purpose revenue-bond authorizations from the state. Multiple extensions were granted as the project failed to meet earlier schedules. Ulupono ultimately invested more than $6 million, but the project faced rising construction costs and announced in December 2020 that it would cease operations by the end of January 2021. In transportation policy, Ulupono commissioned JLL to assess whether private contractors could reduce the cost of Honolulu's Skyline rail project. The 2017 report suggested potential savings of as much as $570 million but also identified a funding shortfall of approximately $2 billion and warned that delays could create significant additional public costs. The Honolulu Authority for Rapid Transportation responded by examining public-private financing models with Ernst & Young. Honolulu later withdrew from the effort to secure a private-sector partner in 2020, and the authority canceled the public-private process. The first 11-mile section of Skyline opened in June 2023. Ulupono has also supported active transportation through funding for Bikeshare Hawaii, which operates Biki in Honolulu. Biki launched in 2017 and became a visible component of the city's transportation network. The COVID-19 pandemic sharply reduced revenue and prompted service cuts announced in 2021, although usage improved as tourism returned. By June 2023, Biki reported nearly six million rides over six years. Through these activities, Ulupono has developed an identity as a Hawaii-focused impact-investment and advocacy platform rather than a conventional product company. Its work combines long-term systems goals with participation in individual commercial projects and public debates. The available public record includes successful policy advocacy and transportation initiatives, as well as investments that encountered delays or did not reach completion. The organization remains associated with efforts to build greater local resilience in food, energy, mobility, water, and waste.

• 2023

  Skyline's first 11-mile segment opens

  [1]Ulupono Initiativeen.wikipedia.org

  The first 11-mile section of Honolulu's Skyline rail system opens after the earlier private-partnership effort was abandoned.

• 2023

  Biki reports nearly six million rides

  [1]Ulupono Initiativeen.wikipedia.org

  Bikeshare Hawaii marks six years of Biki operation and reports nearly six million rides.

• 2021

  Biki cuts service during the pandemic

  [1]Ulupono Initiativeen.wikipedia.org

  Biki announces substantial service reductions after COVID-19-related revenue losses.

• 2020

  Honolulu withdraws from rail public-private partnership effort

  [1]Ulupono Initiativeen.wikipedia.org

  The city announces that it is ending its effort to secure a private-sector partner for the rail project.

• 2020

  Honolulu Seawater Air Conditioning announces closure

  [1]Ulupono Initiativeen.wikipedia.org

  The project announces that operations will end in early 2021 because of rising construction costs.

• 2017

  JLL rail financing and construction study released

  [1]Ulupono Initiativeen.wikipedia.org

  A Ulupono-commissioned analysis examines potential savings from private contractors on Honolulu's rail project.

• 2017

  Biki bike-share launches

  [1]Ulupono Initiativeen.wikipedia.org

  Bikeshare Hawaii launches Biki in Honolulu with Ulupono support.

• 2014

  Agricultural financing amendment passes

  [1]Ulupono Initiativeen.wikipedia.org

  Hawaii Constitutional Amendment 2 passes with 50.2 percent of the vote after a Ulupono-supported campaign.

• 2014

  Majority stake acquired in Honolulu Seawater Air Conditioning

  [1]Ulupono Initiativeen.wikipedia.org

  Ulupono and Capital Cooling purchase a majority stake in the seawater-cooling company.

• 2013

  Initial investment in Honolulu Seawater Air Conditioning

  [1]Ulupono Initiativeen.wikipedia.org

  Ulupono makes an initial investment in the proposed seawater district-cooling project.

• 2009

  Ulupono Initiative is established

  [1]Ulupono Initiativeen.wikipedia.org

  Pierre Omidyar and Pamela Kerr establish the Hawaii-focused organization to pursue impact investments, grants, and advocacy in local food, energy, transportation, water, and waste.

A Hawaii-focused impact investor and philanthropic organization using capital, grants, research, and advocacy to advance more resilient local food, energy, transportation, water, and waste systems.

• Impact investing · 2009

  Impact investment portfolio

  Ulupono's investment activity has covered Hawaii-related businesses and projects in renewable energy, biofuels, agriculture, aquaculture, electric-vehicle infrastructure, water, cooling, and waste reduction. Publicly identified investments include Hawaii Dairy Farms, Honolulu Seawater Air Conditioning, Sopogy, SolarCity, Blue Ocean Mariculture, Hawaii BioEnergy, Phycal, Kapalua Farms, Oceanic Institute Research Feed Mill, Ibis Networks, and Bioenergy Hawaii. These are investments and portfolio relationships rather than consumer products sold under the Ulupono name.

• Philanthropy · 2009

  Grant-making and nonprofit support

  Ulupono provides grants and other support to nonprofit, community, and coalition activities connected with its Hawaii systems agenda. Its support has included work related to local food, mobility, environmental sustainability, and public-interest research. The organization uses grant-making alongside investment and advocacy rather than presenting it as a standalone commercial service.

• Public policy · 2009

  Policy research and advocacy

  The organization commissions studies, participates in policy coalitions, and advocates for changes intended to improve Hawaii's food, energy, transportation, water, and waste systems. Examples include its support for agricultural special-purpose revenue bonds and its commissioning of a JLL assessment of private-sector participation in Honolulu's rail project.

• 2014Local Food Coalition campaign for Hawaii Constitutional Amendment 2

  Hawaii

  Ulupono was the principal funder of the Local Food Coalition campaign supporting a constitutional amendment that broadened the types of agricultural enterprises eligible for state special-purpose revenue bonds.

  Outcome. The amendment passed with 50.2 percent of the vote, only slightly above the required threshold. The League of Women Voters raised concerns that the change could benefit large for-profit agribusinesses at the expense of smaller farms.

  Source

• 2020

  End participation in Honolulu Seawater Air Conditioning projectOther

  Background

  The proposed project had faced repeated schedule extensions, unresolved financing issues, and increasing construction costs.

  Action taken

  Honolulu Seawater Air Conditioning announced that it would conclude operations by the end of January 2021.

  Aftermath

  The project was discontinued after Ulupono had invested more than $6 million according to the cited account.

  Reported cumulative Ulupono investment. More than $6 million (By December 2020)

  Source

• 2017

  Commission private-sector analysis of Honolulu railStrategy

  Background

  Honolulu's rail project faced major cost and funding challenges, prompting debate over alternative delivery and financing structures.

  Action taken

  Ulupono commissioned JLL to assess whether greater use of private contractors could reduce construction costs.

  Aftermath

  The report identified potential savings but also a large remaining public-funding gap. HART subsequently worked with Ernst & Young on public-private financing models; the city later abandoned the partner-search effort.

  Estimated potential construction savings. Up to $570 million (2017)

  • Honolulu Authority for Rapid Transportation — HART examined possible public-private funding models in response to the issues raised by the commissioned analysis.

  Source

• 2014

  Acquire majority stake in Honolulu Seawater Air ConditioningM&A

  Background

  After its initial investment, Ulupono continued pursuing the proposed district-cooling project with Capital Cooling.

  Action taken

  Ulupono Initiative and Capital Cooling purchased a majority stake in the company in November 2014.

  Aftermath

  The project did not reach completion and ultimately announced that it would cease operations in January 2021.

  Source

• 2013

  Invest in Honolulu Seawater Air ConditioningOther

  Background

  Ulupono viewed seawater district cooling as a potential clean-energy and infrastructure project for Honolulu.

  Action taken

  The organization invested $1 million in the project in August 2013.

  Aftermath

  The project experienced repeated delays, additional bond-authority extensions, and rising construction costs before announcing the end of operations in early 2021.

  Initial investment. $1 million invested (August 2013)

  Source

1. 1Ulupono Initiativeen.wikipedia.org
2. 2Ulupono Initiative official websiteulupono.com