YOU AND YOUR OHANA
What is your name?
Abel Soares III
Where were you raised?
Idaho and North Shore, Hawaii
Where is your ohana originally from?
Waialua, Hawaii
Do you come from a family of entrepreneurs or have people close to you who have encouraged and supported your entrepreneurship?
My business partner and I did not come from families of entrepreneurs, and our support has mainly consisted of mutual support for each other.
YOUR BUSINESS
What is the name of your business?
Hui Malama Advisors, LLC
What is the best way to contact you/your business?
Call Abel at 808-222-9319 or email at aloha@huiadvisors.com
Does your business have a website and/or social media presence? If so, please provide a link/s.
Native Hawaiian Business Directory listing: https://kanakaeconomy.com/listing/hui-malama-advisors-llc/
How long has your business been in operation?
5 years
Where is your business located today?
We are a cloud-based business and provide virtual services to any location in the US.
What products and/or services does your business provide?
Tax Planning, Tax Preparation, Virtual CFO services, Accounting, Business Planning, Business Consulting, Payroll, Holistic Financial Planning & Advising, Retirement Planning, Investment Advising, Debt Remediation, Credit Building, Life & Financial Coaching, Relationship Coaching, Executive Coaching & Consulting, Diversity & Equity Consulting
Please describe your business in 1-2 sentences.
Hui Malama Advisors was founded with the goal of providing holistic financial and relationship services for individuals and businesses. Our mission is to bolster financial and well-being legacies for historically marginalized communities and military members.
Why do you do what you do?
I became increasingly aware of the limited access to financial and well-being services experienced by Native Hawaiians and other minority communities. So, at Hui Advisors, we are motivated by providing these services in a relatable and easy to understand manner, so clients feel more empowered.
STARTING YOUR BUSINESS
When did you first think of starting this business?
I have always had an entrepreneurial spirit. At the age of 10, I started my own lawn-mowing business; and while completing my Bachelor’s degree, I founded a tax services company. The idea for Hui Malama Advisors, a joint venture with my spouse, originated when she was completing her graduate studies in psychology.
What type of experiences (education, work, life) were most important in shaping the skills you use to run your business today?
Aside from the technical skills I learned in school, my work in the restaurant industry and values learned from my Hawaiian father have shaped the way I address being a business owner. Working in the restaurant industry really transformed the way I view customer service and communication with customers. More importantly, lessons from my father on hard work, knowing my values and incorporating our Hawaiian values of aloha and malama are at the core of how we run Hui Malama Advisors.
YOUR BUSINESS TODAY
In what stage of development is your business: pre-formation, early stage, growing, or mature?
We are at the growing stage of our business.
Do you have employees? If so, how many?
We have one employee at this time.
Are you working to get your business to the next stage in development? If so, where are you in that development?
We are moving into the next phase of our business, in which we will begin to hire more employees to handle administrative and other entry-level functions.
CHALLENGES
What is the greatest challenge you have experienced as an entrepreneur?
As an entrepreneur, you end up taking on all of the roles of an organization. This can sometimes feel unmanageable.
How did you overcome that challenge? (Or are you still working through it?)
I think this is something we are continuing to work through. Focusing on the income-earning and client priorities and working to identify reliable individuals who can grow with us has been helpful and still a work in progress.
THE FUTURE OF YOUR BUSINESS
How do you envision your business in the future?
We envision that Hui Malama Advisors will expand our services, while maintaining our current values, to become a one-stop shop for businesses, to include outsourced human resource services.
IF YOU’D LIKE TO SHARE, PLEASE TELL US ABOUT A HOBBY, INTEREST, OR TALENT YOU NURTURE OUTSIDE OF YOUR BUSINESS.
I enjoy bodyboarding, golfing, cooking, and spending time with my family.
