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The parent company of Honolulu HomeLoans Inc. has hired the former president of real estate brokerage firm Coldwell Banker Pacific Properties to branch out into other businesses outside of real estate.
HHL Holdings Inc. announced Tuesday that Chason Ishii will be its president.
Ishii said HHL is pursuing a strategy to diversify into areas that would counterbalance any cyclical downturns in the residential mortgage loan business.
Ishii said the initiative could include acquisitions, but he would not identify areas of diversification except for one business HHL Holdings already operates, a company called Comprehensive Solutions LLC formed earlier this year to do operational review work for businesses operating in the Philippines.
"It’s a whole new exciting adventure," Ishii said.
Ishii had been president of Coldwell Pacific since 2007. He joined the brokerage firm in 2000 after leaving a position as group vice president at Servco Pacific Inc.
Honolulu HomeLoans was formed in 2010 by a handful of top executives who left Central Pacific HomeLoans, including Tom Zimmerman, who is president and CEO of Honolulu HomeLoans and CEO of parent HHL Holdings.
Zimmerman had been a Bank of Hawaii mortgage executive who co-founded mortgage firm Hawaii HomeLoans about a decade ago and then sold it to Central Pacific Financial Corp., which renamed the business Central Pacific HomeLoans.
Honolulu HomeLoans has more than 100 employees, originated $21 million in home loans in its most recent fiscal year, and services more than $900 million in Hawaii-based mortgage loans.
