Board of Water Supply

What Board of Water Supply does

The Board of Water Supply (BWS) is a semi-autonomous municipal agency of the City and County of Honolulu that operates the largest water utility in the State of Hawaii, serving approximately one million residential and commercial customers on the island of Oahu. The organization, founded in 1929 and operating under a Board of Directors, manages the full municipal water value chain: source water acquisition (including the Hālawa Shaft groundwater source), treatment, transmission through a network of pumping stations, reservoirs, and water mains, distribution to end customers, and customer service. The core technology stack is conventional water distribution infrastructure augmented by digital customer-facing products including the My Account self-service portal for billing and account management, the WaterSmart Program for usage tracking, the Water Waste Hotline for incident reporting, and the WaterSensible rebate platform for conservation incentives. Additional operational assets include leak detection resources, emergency preparedness services, and the Hālawa Xeriscape Garden educational facility.

BWS generates revenue primarily through tiered monthly water service fees charged to its approximately one million Oahu customers (residential and commercial), with publicly disclosed rate schedules set by the Board of Directors. Capital improvements and infrastructure maintenance are financed through periodic issuances of Water System Revenue Bonds, with five consecutive annual issuances from 2020 through 2024 totaling approximately $425 million (Series 2020 $134.25M, 2021 $76.52M, 2022 $135.26M, 2023 $17.43M, 2024 $72.82M). The 2020 issuance secured the first AAA municipal-style credit rating in Hawaii from S&P, with AAA status reaffirmed with Stable Outlook by both Fitch Ratings and S&P Global Ratings in March 2024. BWS maintains 501–1,000 employees and is led by Manager and Chief Engineer Ernest Y. W. Lau, P.E., with a Board of Directors including eight identified members.

The go-to-market model is direct-to-consumer municipal utility service: BWS owns and operates the exclusive distribution infrastructure on Oahu and bills customers directly via monthly cycles. Customer engagement channels include the official website (boardofwatersupply.com), dedicated conservation site (watersensible.org), social media accounts on Facebook, Instagram, X, NextDoor, and YouTube, community events such as the Annual Unthirsty Plant Sale and Imagine A Day Without Water, and recurring public Board of Directors and Stakeholder Advisory Group meetings. Partnerships include a January 2026 collaboration with the Department of Environmental Services to double conservation rebate amounts, and a proposed co-location with Eurus Energy America's hydrogen production facility adjacent to BWS's planned desalination plant in Kapolei.

Name

Board of Water Supply

Legal name

Board of Water Supply, City and County of Honolulu

Website

https://boardofwatersupply.com

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Honolulu Board of Water Supply is a semi-autonomous municipal agency that operates the largest water utility in Hawaii, distributing water to approximately one million residential and commercial customers on Oahu through owned infrastructure, with revenue from tiered monthly water rates and Water System Revenue Bonds.

Ownership category

akta.pro rank

Product category

Municipal Water Utility

NAICS

Water Supply and Irrigation Systems (22131), Water Supply and Irrigation Systems (221310), Water, Sewage and Other Systems (2213)

SIC

Water Supply (4941)

akta.pro primary industry

Raw Water Conveyance & Transmission (Aqueducts, Mains, Pumping Stations) (EUANAAAB)

akta.pro secondary industries

Water Supply & Wastewater Utilities Administration (BPAIACAG), Water Resources Administration (Watersheds, Rivers, Groundwater) (BPAIAMAE), Move-In/Move-Out, Service Orders & Field Dispatch (turn-ons/turn-offs, appointments, workforce scheduling) (EUANAIAH), Water Source Development & Intake Systems (Wells, Boreholes, Intakes) (AFAAACAI)

Keywords

• Municipal water supply
• Water distribution services
• Water utility operations
• Water conservation programs
• Potable water infrastructure

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Water Service Fees: BWS generates revenue through water service fees charged to approximately one million customers on Oahu. As a semi-autonomous agency of the City and County of Honolulu, it operates as a municipal water utility funded primarily through water rates.
2. Bond Financing: BWS issues Water System Revenue Bonds to finance capital improvement projects and infrastructure maintenance. Recent bond issuances include Series 2024 ($72.8M), Series 2023 ($17.4M), Series 2022 ($135.3M), Series 2021 ($93.5M), and Series 2020 ($106.6M).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Board of Water Supply provides municipal potable water supply and distribution services to approximately one million residential and commercial customers on the island of Oahu. It operates an extensive water distribution infrastructure including pumping stations, reservoirs, water mains, groundwater sources (including the Hālawa Shaft), and is developing seawater desalination capabilities. The utility also offers customer-facing conservation programs (Water Sensible rebates, WaterSmart), online account management, and water waste reporting services.

Product overview

Board of Water Supply operates as a municipal water utility serving Oahu, Hawaii, with customer-facing digital products and conservation programs. The core offerings include the Water Sensible Rebate Program (residential and commercial water-efficient product rebates), the WaterSmart conservation program, and the My Account customer self-service portal for bill payment and account management. Additional services include the Water Waste Hotline for reporting incidents, leak detection resources, emergency preparedness guidance, and the Hālawa Xeriscape Garden educational facility.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• AAA bond credit ratings maintained from Fitch Ratings and S&P Global Ratings
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Department of Environmental Services (ENV)coreGTM or Marketing PartnerBWS and the City and County of Honolulu's Department of Environmental Services partnered to double rebate amounts for water-saving fixtures and appliances through the expanded WaterSensible rebate program. The partnership aims to help customers lower utility costs while protecting the island's water supply and offsetting recent sewer fee increases. The joint program was announced January 7, 2026.
• Eurus Energy AmericaminorStrategic or Co-development PartnerEurus Energy America proposed constructing a hydrogen production facility at Campbell Industrial Park in Kapolei adjacent to BWS's proposed desalination plant. The project, reviewed by the Hawaii Board of Land and Natural Resources, would use photovoltaic solar panels and electrolysis to produce up to 800,000 kilograms of hydrogen annually. If approved, operations could commence by late 2027.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• New York City Department of Environmental Protection: Operates NYC's water supply and wastewater systems for ~8 million residents. Comparable as a large municipal water utility delivering potable water via reservoirs and aqueducts with public bond financing and watershed protection programs.
• Los Angeles Department of Water and Power: Largest municipal water and power utility in the US, serving ~4 million LA residents. Comparable as a large municipal water utility with exclusive franchise territory, AAA/AA credit profile, and active conservation programs — though much larger and combined with electric service.
• Metropolitan Water District of Southern California: Wholesale water supplier serving 26 member agencies and ~19 million Southern Californians. Comparable as a large-scale public water agency issuing revenue bonds and managing major conveyance infrastructure, though wholesale rather than direct retail.

Direct peers

• DC Water: District of Columbia Water and Sewer Authority serving ~672,000 residents plus surrounding jurisdictions. Comparable municipal authority model with revenue bond financing, capital improvement programs, and customer conservation rebates.
• Denver Water: Largest water utility in Colorado serving ~1.5 million people. Closely comparable scale and franchise model, with mountain watershed sourcing, conservation programs, recycled water initiatives, and revenue bond financing similar to BWS.
• Boston Water and Sewer Commission: Independent municipal authority providing water and sewer services to Boston. Comparable as an independent municipal water authority with retail customer base, conservation programs, and infrastructure bond financing — though smaller and on the US mainland.
• Seattle Public Utilities: Municipal utility providing water, drainage, and waste services to Seattle. Comparable as a public-sector water utility with watershed protection, conservation rebates, customer self-service portal, and strong credit profile serving a defined urban service area.
• San Francisco Public Utilities Commission: Municipal water utility serving San Francisco and surrounding counties with a multi-source supply (Hetch Hetchy reservoir, groundwater, recycled water). Comparable business model, exclusive service territory, sustainability bond program, and conservation rebates parallel to BWS's Water Sensible program.
• East Bay Municipal Utility District: California municipal utility providing water and wastewater services to ~1.4 million East Bay customers. Comparable independent special district model with watershed management, conservation rebates, and revenue bond financing for infrastructure capital programs.
• Philadelphia Water Department: Municipal department providing water, wastewater, and stormwater services to Philadelphia. Comparable public-sector utility model with exclusive franchise, conservation programs, and revenue bond-funded capital program for a major US urban service area.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BWSHonolulu
• YouTubeyoutube.com/user/HonoluluBWS
• Facebookfacebook.com/BWSHonolulu
• Instagraminstagram.com/BWSHonolulu

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Board of Water Supply