July 12, 2004

(Honolulu, Hawaii, July 12, 2004) -- First Hawaiian Bank has agreed to donate $60,000 to set up a Waipahu Automotive Academy in partnership with Waipahu High School, Honolulu Community College and Cutter Management Company.

The high-tech training program, which begins this summer, gives participating Waipahu High students the option to prepare for high-paying jobs as auto mechanics through courses at the high school and the community college.  Cutter has agreed to provide paid summer internships for Waipahu students participating in the program.

Honolulu Community College Chancellor Ramsey Pedersen said the demand for trained mechanics is so strong that 90 percent of those who go through the existing HCC program are hired before they graduate, at salaries starting from about $15 an hour.  Experienced, high-end mechanics can earn more than $100,000 a year.

“This is a unique partnership of business and educators to help to fill a critical need for automotive technicians on Oahu.  We’re pleased by the willingness of Cutter and our education community to work together to benefit these young people in Waipahu,” said Don Horner, President of First Hawaiian Bank.

“Hawaii’s auto dealerships face a continual shortage of well-trained, entry-level technicians,” said Nick Cutter, President of Cutter Management Company.  “We’re delighted to be able to work in this partnership to provide opportunities for Waipahu students and at the same time fill a real need for our industry and our community.”

“This is an ideal program for Waipahu High, because there are so many auto dealers in the immediate vicinity of Waipahu who are crying out for trained mechanics.  It will make our students aware of this career option much earlier in their education,” said Pat Pedersen, Waipahu High School principal.

“Honolulu Community College has a well-established program in automotive technology.  We are delighted to expand this instruction to include Waipahu High students,” said Ramsey Pedersen, HCC Chancellor.

Details of the program:

  • First Hawaiian Bank will oversee the project and make a donation of $60,000 from First Hawaiian Foundation, the bank’s charitable arm, to fund the project’s first three years.  The money will buy sophisticated tool kits at HCC for use by the Waipahu students, and also pay for summer instructors and shop supplies.
  • Waipahu Automotive Academy students will use HCC’s 55,000-square-foot training facility for a six-week summer course (which began June 21) and on weekday afternoons during the school year.  Students will get three HCC course credits this summer, plus an additional credit for internships with Cutter.  There are 10 students involved initially, with plans to at least double the enrollment later.
  • Cutter Management Company is providing paid summer internships for the students, tours of industry facilities, career counseling and guidance and a speakers bureau on industry standards and operations.
  • HCC will help Waipahu High School to become certified by the National Automotive Technician Education Foundation. Certification will pave the way for additional support from auto manufacturers and the federal government.

First Hawaiian Bank ($9.9 billion assets) was founded in 1858 and is Hawaii's oldest bank.  It has 56 branches in Hawaii, three on Guam and two on Saipan.  It is a subsidiary of BancWest Corporation, the largest Hawaii-based bank holding company, with assets of $38.9 billion.

Cutter Management Co. is Hawaii’s largest automotive retailer.  It owns nine automotive dealerships which represents 13 different manufacturers. It has been in operation for 30 years.