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University of Hawaii Foundation
Launched in 1956, the University of Hawaii Foundation exists solely to channel private support into the University of Hawaii System. CEO Tim Dolan runs...
University of Hawaii Foundation
Launched in 1956, the University of Hawaii Foundation exists solely to channel private support into the University of Hawaii System. CEO Tim Dolan runs operations alongside a board chaired by Richard F. Wacker, the former CEO of American Savings Bank, and vice-chaired by developer Stanford S. Carr and C. Scott Wo of C.S. Wo & Sons. The foundation manages all fundraising and alumni services for the 10-campus system, making it a unique hybrid of development office and institutional asset manager. The foundation’s investment posture spans traditional and alternative asset classes. Its portfolio includes a marketable-alternatives sleeve, a private equity portfolio, and dedicated hedge-fund and international-equity allocations. The venture-capital and private-equity managers target pre-seed through growth-stage companies, and the foundation has confirmed a focus on Biotech & Genomics among its direct venture exposures. On the real-asset side, the foundation holds an interest in the HMH Trust 2017-NSS hotel portfolio across nine U.S. states, the Walter A. Dods, Jr. RISE Center at 1810 University Avenue, and NOAA-related graduate-student residences. A cryptocurrency donation program signals openness to digital assets as a fundraising channel. The investment committee includes trustee Timothy M. Donohue, who is also CIO of Kamehameha Schools, linking the foundation to Hawaii’s other major institutional allocator. Board membership also features Canva chief evangelist Guy Kawasaki. The foundation participates in the NACUBO-TIAA Study of Endowments but does not publicly disclose an asset base, compensation, or deployment figures. The University of Hawaii Foundation stands apart from most university endowments through its built-in real-estate portfolio and its dual identity as a fundraising arm and an investment office. Those two functions share a single governance structure, which can compress decision-making but also concentrates fiduciary risk. The foundation’s holdings in tangible Hawaii-centric assets — the RISE Center, the Jean Charlot Collection, the Kahala Avenue house — give it a museum-and-property-company profile not replicated by any mainland university foundation its size.
General information
Firm type
Endowment / Foundation
Year founded
1956
Location
Region
North America
Country
United States
City
Honolulu
Corporate office
Honolulu, HI, United States
Principals
Tim Dolan
CEO
Richard F. Wacker
Chairman of the Board of Trustees
Stanford S. Carr
Vice Chair of the Board of Trustees
C. Scott Wo
Vice Chair and Investment Committee member
Guy Kawasaki
Trustee
Timothy M. Donohue
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the University of Hawaii Foundation?
Investment oversight sits with the board of trustees and its investment committee. Vice chair and investment committee member C. Scott Wo, owner of C.S. Wo & Sons, and trustee Timothy M. Donohue — CIO of Kamehameha Schools — bring direct institutional-investment leadership to the table. CEO Tim Dolan heads the organization but does not publicly carry a CIO title.
How is the foundation structured — is it purely a grant-making body or does it operate like an endowment?
It does both. The foundation is the sole fundraising vehicle for the 10-campus University of Hawaii System and also manages the resulting endowment pool across a full institutional portfolio. That dual mandate — development office and investment manager — makes it more operationally complex than a standalone endowment.
What does the foundation’s real-asset portfolio actually hold?
The foundation holds a stake in the HMH Trust 2017-NSS hotel portfolio spanning nine U.S. states, the Walter A. Dods, Jr. RISE Center at 1810 University Avenue in Honolulu, graduate-student housing tied to a NOAA project, and the Jean Charlot house on Kahala Avenue. It also stewards the Jean Charlot Collection and Hamilton Library special collections.
Does the foundation take outside capital or is it single-mandate?
The foundation exists exclusively to serve the University of Hawaii System. It does not manage third-party capital. All 3,400-plus gift accounts and the investment pool are tied to university purposes.
What asset classes does the foundation invest in?
The portfolio includes private equity, venture capital, hedge funds, international equities, marketable alternatives, natural resources and direct real estate. The venture sleeve spans pre-seed through growth stages, with a publicly confirmed sector focus on Biotech & Genomics.
Does the foundation disclose its AUM or compensation?
The foundation does not publicly disclose an asset base. AUM should be treated as undisclosed. Third-party estimates circulate, but the organization itself does not confirm a figure.
How is UH Foundation related to Kamehameha Schools in investment terms?
The relationship is a board-level overlap, not a formal pooled-investment arrangement. Timothy M. Donohue sits as a UH Foundation trustee while serving as CIO of Kamehameha Schools Endowment, creating a direct channel for shared institutional knowledge but no co-mingled vehicle.
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