Former First Hawaiian Bank Chairman Walter A. Dods Jr. is donating $5 million to the University of Hawaii at Manoa’s new Residences for Innovative Student Entrepreneurs project.

In recognition of the gift, the building is being renamed as the Walter Dods Jr. RISE Center.

The center, which promotes student entrepreneurship and innovation in a residential setting for up to 374 students, opened in August at University Avenue and Metcalf Street. It is the first public-private partnership between UH, the UH Foundation and Hunt Development Group Hawaii.

“I’m honored to champion a program that’s growing new generations of critical thinkers and entrepreneurs who will create the businesses that grow Hawaii’s economy,” Dods said in a UH news release. “I look forward to seeing the future these (Pacific Asian Center for Entrepreneurship) at RISE students will create for themselves, our state and the world.”

Programs at RISE are operated by PACE at the UH Manoa Shidler College of Business.

Dods’ gift builds on another donation in January 2022, when the First Hawaiian Bank Foundation, in partnership with Dods, made a combined contribution of $500,000 in support of RISE.

Dods is an alumnus of the Shidler College of Business, a longtime donor to UH and former president of the UH Foundation’s board of trustees. He retired from First Hawaiian Bank in 2004 after a 36-year career there, the last 15 years as chairman and CEO. He was national president of the American Bankers Association in 1996.

“Walter Dods has embodied leadership, entrepreneurship and innovation over his long career at First Hawaiian Bank as well as through his expansive and generous service to the community,” UH President David Lassner said in the release. “It is beyond appropriate to link the Dods name to the premier place and program that will nurture our future leaders who will drive Hawaii’s economy, and we thank Walter for his forward-thinking and generous commitment to our students.”