STAND. COM. REP. NO. 1996

Honolulu, Hawaii

RE: GOV. MSG. NO. 668

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Energy, Economic Development, and Tourism, to which was referred Governor's Message No. 668, submitting for study and consideration the nomination of:

Hawai'i Community Development Authority (Kakaako District)

G.M. No. 668

KEVIN SAKODA, for a term to expire 06-30-2027,

begs leave to report as follows:

Your Committee reviewed the personal history, resume, and statement submitted by Kevin Sakoda for service on the Hawaii Community Development Authority.

Your Committee received testimony in support of the nomination for the appointment of Kevin Sakoda from the Hawai‘i Community Development Authority. Your Committee received testimony in opposition to the nomination for the appointment of Kevin Sakoda from one individual. Your Committee notes that the testimony submitted in opposition to this nominee contained no substantive information or commentary relating to his appointment.

Upon review of the testimony, your Committee finds that Mr. Sakoda's experience, knowledge, and proven leadership on the Hawaii Community Development Authority qualify him for appointment to the Authority as a member representing the Kakaako District. Ms. Sakoda holds a Master's in Business Administration from the University of Chicago Graduate School of Business and a Bachelor of Science in Electrical Engineering from Northwestern University. Mr. Sakoda has over twenty years of experience in financial markets and possesses a unique combination of skills in technology, disciplined management, risk management, and strategic development to achieve common goals. Mr. Sakoda most recently served as the Managing Director and Head of International Yen Sales for UBS Securities in Tokyo, Japan. Previously, Mr. Sakoda was the Director of the Hedge Fund Sales Group at Barclays Capital in Tokyo, Japan. Mr. Sakoda also worked as a Senior Trader with NationsBank in the Interest Rate Group in Tokyo, Japan and the Interest Rate Product Group in Chicago, Illinois. Mr. Sakoda's experiences have also been enhanced by his extensive experience working and traveling in Asia. In addition to his professional experience, Mr. Sakoda has served on the Hawaii Community Development Authority since 2019 and has a thorough understanding of the roles and responsibilities of the Authority's members. Mr. Sakoda indicated in his personal statement that he believes his disciplined decision-making skills, based on not only financial viability and soundness but also non-financial valuations of community and relationships, will help the Hawaii Community Development Authority and the Kakaako community. Your Committee therefore recommends that Kevin Sakoda be appointed to the Hawaii Community Development Authority based on his extensive experience in the financial sector and his commitment to public service.

As affirmed by the record of votes of the members of your Committee on Energy, Economic Development, and Tourism that is attached to this report, your Committee, after full consideration of the background, experience, and qualifications of the nominee, has found the nominee to be qualified for the position to which nominated and recommends that the Senate advise and consent to the nomination.

Respectfully submitted on behalf of the members of the Committee on Energy, Economic Development, and Tourism,

____________________________

LYNN DECOITE, Chair