Kirk Caldwell’s Side Job At The Bank Would Be Outlawed Under This Bill
UPDATED: House Speaker Scott Saiki’s anti-moonlighting bill would apply to the governor as well as Hawaii’s mayors.
The Hawaii Legislature is again considering a bill that would prohibit the governor and county mayors from having other jobs outside of their elected positions.
That would include Honolulu Mayor Kirk Caldwell, who has reported earning at least $200,000 from听Territorial Savings Bank听in two of the years he’s been in office. He reported earning less than $50,000 from the bank last year.
which would take effect Jan. 1, would require the executives to give up other jobs within 61 days of taking office. In addition to Caldwell, two other current mayors would be affected.
This is the third time in as many years that House Speaker Scott Saiki has proposed the measure.听
鈥淗olding a part-time job when you鈥檙e already governor or mayor creates a conflict of interest,鈥 Saiki said.
The bill would exempt stocks, retirement, social security and real estate income.
Gov. David Ige, who collects with his wife, would not be affected, nor would Hawaii County Mayor Harry Kim, whose only sources of income outside of his office are social security and retirement, according to financial disclosure statements.
But Caldwell, Maui Mayor Mike Victorino and Kauai Mayor Derek Kawakami would be affected.
Last year Caldwell received from $25,000 to $49,999 as a director for Territorial Savings Bank, according to his most recent filed Jan. 31.听In 2012 and 2015, Caldwell reported making at least $200,000 as a bank director.
He is currently out of the country, and his office declined to comment.
Caldwell also has shares of stock with Territorial Savings worth a total $963,147 as of Friday鈥檚 closing price of per share. Caldwell hasn鈥檛 sold any of his stock since 2017. Any additional income from his stocks would also be exempt from the bill.
That鈥檚 all in addition to the $173,184 he gets paid to be Honolulu mayor.
Kauai County refused to provide Kawakami鈥檚 most recent financial disclosures without a records request. They were requested Thursday and had not been received as of Friday.
Update:听Before running for mayor, Kawakami held six other positions outside of his job as councilman that paid a total $121,800, according to his latest candidate financial disclosure statement received by Civil Beat on Tuesday.
He is listed as a president for MFM Inc., the parent company for his family’s grocery stores, and Commercial Properties Limited. Kawakami also held shares in his family’s grocery stores and a 13.6 percent interest in HK Medicinal LLC, a company that applied unsuccessfully for Kauai’s sole medical marijuana dispensary license in 2017.
He is still listed as an officer in the family company鈥檚 .
Victorino鈥檚 most recent from February 2018, when he filed his mayoral candidacy, showed an income of $25,000 to $49,999 as an insurance adviser for , a Honolulu insurance firm. He sold his business to the firm after taking office in December and no longer pursues clientele, he told Civil Beat.
Victorino still receives residuals from business he previously generated for Mutual Underwriters, but he declined to say how much.
鈥淚t鈥檚 really retirement for my business,” Victorino said. 鈥淚t鈥檚 their way of weaning me off.鈥
Victorino says he supports the intent of the bill.
鈥淚 understand who they鈥檙e going after, and it鈥檚 not me,鈥 Victorino said. 鈥淚鈥檓 a small fly in this equation.鈥
Saiki has consistently said he wasn’t targeting any particular Hawaii leader, but instead is responding to听 President Donald Trump鈥檚 election in 2016.
鈥淚 felt that Hawaii should set a standard for prohibiting executives from holding outside jobs while they are in office,鈥 Saiki said.
The first time he proposed the measure in in 2017,听it was doomed from the start as听then-Speaker Joe Souki referred it to four committees. It听was revived last year and passed the full House before dying in Senate committee hearings.
The Senate Government Committee wrote that it had concerns the bill could hurt elected officials who might own small businesses on the side or could discourage potential candidates from seeking higher office.
This year as speaker, Saiki referred his bill to just the House Judiciary Committee, which passed it Feb. 8, and it will now be considered by the full House.
