Kuakini Medical Center
Honolulu, Honolulu County, HI
· CCN 120007
Licensed to Kuakini Medical Center
Composite
60.4
rank score
Distress
72
FY2024
Fit
70
vs thesis
Estimated ticket
$59.5M–$238M
170 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- current liabilities exceed current assets
- debt above 85% of assets
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $149M |
| Operating margin | -19.4% |
| Total margin | -0.3% |
| Days cash on hand | 17 |
| Current ratio | 0.98 |
| Occupancy | 41% |
Facility
| Beds | 170 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 170 | $136M | $-5.4M | -24.4% | -3.3% | 32 | 1.02 | 32% | 2,822 | 77 |
| 2022 | 170 | $140M | $-996K | -11.7% | -0.6% | 20 | 0.92 | 35% | 2,873 | 80 |
| 2023 | 170 | $145M | $-4.9M | -16.1% | -3.0% | 13 | 0.97 | 40% | 3,062 | 80 |
| 2024 | 170 | $149M | $-567K | -19.4% | -0.3% | 17 | 0.98 | 41% | 3,490 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Gary Kajiwara | corporate director | 2010-08 | ||
| Gary Kajiwara | w-2 managing employee | 2010-08 | ||
| Gregg Oishi | corporate officer | 2000-10 | ||
| Gregg Oishi | operational/managerial control | 2000-10 | ||
| Kuakini Medical Center | operational/managerial control | 2010-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
Who has been buying in HI
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2024-10-08 | The Queens Medical Center | Sutter Health Pacific | The Queens Medical Center | 674 |
| 2017-07-01 | Maui Health System A Kaiser... | Maui Memorial Medical Center | Maui Memorial Medical Center | 219 |