WH. Shipman

What WH. Shipman does

W.H. Shipman, Limited is a privately held, family-owned land stewardship and real estate company headquartered in Kea'au, Hawai'i, founded in 1882 when William Herbert Shipman purchased the ahupua'a of Kea'au and formally incorporated in March 1923. The company operates a diversified property portfolio spanning industrial, commercial, and agricultural assets in East Hawai'i and Oregon. Its core products include Shipman Business Park (an industrial hub established 1988 with MG-20 zoning and lots starting at 20,000 sq ft), Kea'au Village (a mixed-use commercial development anchoring retail, healthcare, and professional services), Durham Hall Business Park and Cipole Commercial Center (light industrial and commercial properties in Oregon), and agricultural land leased to farmers. The business earns revenue through three streams: recurring industrial and commercial leasing (Oregon properties publicly priced at $1.60–$1.70 PSF Modified Gross), recurring agricultural land leasing with flexible plot sizes, and one-time fee simple lot sales. The company also holds a wholly owned subsidiary, Hawaii Mountain Orchids (acquired 1968), focused on orchid cultivation.

The company's primary customer segments include industrial and manufacturing businesses (Pepsi-Cola, Hawaii Planing Mill, Big Island Biodiesel), commercial and retail tenants (McDonald's, Longs/CVS, HMSA), Oregon mainland businesses, and agricultural farmers and enterprises. W.H. Shipman distinguishes itself through 140+ years of regional heritage, strategic geographic positioning near Hilo's port and airport, and deep community integration through partnerships with Kamehameha Schools, the State of Hawai'i DLNR, and various cultural and educational institutions. The leadership comprises family descendants across six generations, with the seventh President (Margaret "Peggy" Farias) serving since 2019, supported by a Board of Directors drawn primarily from the founding family. The company funded its mainland expansion through selective divestitures of Hawaiian land — notably the 300-acre sale to Kamehameha Schools in 2000 and the HMSA parcel in 2012 — and continues to reinvest in Hawaiian infrastructure through projects such as the 2024 Phase 1-E subdivision and the 200-acre Kea'au Village Master Plan.

Name

WH. Shipman

Legal name

W.H. Shipman, Limited

Website

https://www.whshipman.com

Company type

Private

Founded year

1882

Operating status

Operating

Headcount range

1–10 employees

Short description

W.H. Shipman, Limited is a privately held, family-owned land stewardship and real estate company founded in 1882, operating industrial parks, commercial properties, and agricultural leases in East Hawai'i and Oregon, serving businesses, farmers, and community stakeholders.

Ownership category

akta.pro rank

Headquarters

HQ city

Keaau

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Industrial & Commercial Property Leasing: Revenue from leasing industrial lots at Shipman Business Park in Kea'au, Hawai'i and light industrial/commercial spaces at Durham Hall Business Park (Tigard, Oregon) and Cipole Commercial Center (Tualatin, Oregon). Properties are offered at price points ranging from $1.60-$1.70 PSF on modified gross basis.
2. Agricultural Land Leasing: Revenue from leasing agricultural lands to farmers and agricultural enterprises in East Hawai'i. The company offers flexible land leases from small plots for startup farmers to larger parcels for established operations. Leases include access to essential infrastructure.
3. Fee Simple Property Sales: Sale of industrial lots (fee simple) at Shipman Business Park for businesses looking to establish or grow operations on Hawai'i Island. This represents a one-time transactional revenue stream rather than recurring leasing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

W.H. Shipman, Limited leases and sells industrial and commercial real estate — anchored by Shipman Business Park in Keaʻau, Hawaiʻi — and additionally leases agricultural land in East Hawaiʻi. The portfolio extends to the Oregon mainland through Durham Hall Business Park (Tigard) and Cipole Commercial Center (Tualatin). Fee simple industrial lot sales supplement the recurring rental revenue stream from the company's four property assets.

Product overview

W.H. Shipman, Limited operates a diversified real estate portfolio consisting of four distinct property offerings: (1) Shipman Business Park - an industrial hub in Keaʻau, Hawaiʻi with MG-20 zoning for manufacturing, distribution, and commercial services; (2) Keaʻau Village - a mixed-use commercial development with retail, professional services, and community facilities; (3) Durham Hall Business Park - light industrial spaces in Tigard, Oregon offering flexible layouts for distribution and manufacturing; and (4) Cipole Commercial Center - commercial spaces in Tualatin, Oregon supporting light industrial and commercial operations. Additionally, the company offers Agricultural Land Leasing for farming opportunities in East Hawaiʻi and has developed a Master Plan for Keaʻau Village future development. The portfolio spans properties in Hawaiʻi and Oregon, serving distribution, manufacturing, retail, agricultural, and community development sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Shipman Business Park An industrial hub in Keaʻau, Hawaiʻi with MG-20 General Industrial zoning and lot sizes starting at 20,000 square feet. Established in 1988, it serves as a cornerstone of East Hawaiʻi's industrial growth with tenants including Pepsi-Cola, Hawaii Planing Mill, and Big Island Biodiesel, and is offered on both a fee simple purchase and lease basis.
• Keaʻau Village A mixed-use commercial town center in East Hawaiʻi along the Volcano Highway corridor, featuring CV-10, RS-10, RS-15 zoning. Anchored by plantation heritage, it integrates historical character with modern development supporting retail, professional services, restaurants, and healthcare providers. Spaces include 1,600 sq ft units available for lease.
• Durham Hall Business Park Light industrial spaces in Tigard, Oregon featuring flexible layouts, dock-high and grade-level loading options, and modern facilities. Spaces start at 1,750 sq ft at $1.60 PSF (Modified Gross) with proximity to Highway 217, I-5, and the greater Portland metro area. Acquired by W.H. Shipman, Limited in 2000.
• Cipole Commercial Center Versatile commercial spaces at 19450 SW Cipole Rd, Tualatin, Oregon, with commercial zoning, flexible layouts, modern amenities, and ample parking. Spaces start at 1,398 sq ft at $1.70 PSF (Modified Gross) with access to Highway 99W and the Portland metro area. Acquired by W.H. Shipman, Limited in 2012.
• Agricultural Land Leasing Agricultural land leasing opportunities in East Hawaiʻi supporting sustainable farming practices (papaya, kalo/taro, bananas). Offers flexible land leases from small plots for startup farmers to larger parcels for established agricultural enterprises, with access to essential infrastructure. Applicants must provide professional references, agricultural experience, and land use plans via the license form.
• Keaʻau Village Master Plan A two-phase master plan focusing on 200 acres surrounding Keaʻau Village to create a mixed-use, walkable community. The plan includes walkable design, cultural preservation elements honoring plantation heritage, environmental stewardship, and community amenities.

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Kamehameha SchoolscoreStrategic or Co-development PartnerW.H. Shipman, Limited collaborates with Kamehameha Schools on initiatives that strengthen local businesses, support cultural practices, and build lasting community connections. The company sold 300 acres in Kea'au to Kamehameha Schools/Bishop Estate in 2000 for the Hawai'i campus. Kamehameha Schools hosts educational programs at Hā'ena with Shipman land access.
• Na Ala HeleminorStrategic or Co-development PartnerMemorandum of Understanding signed in 2011 to open the Old Puna Trail to provide public access to the coastline at Hā'ena. Shipman constructed a parking lot at the trailhead near Kaloli Drive to provide free parking for trail users.
• Nāwahī School (Ke Kula 'O Nāwahīokalani'ōpu'u Iki Lab Public Charter School)coreStrategic or Co-development PartnerW.H. Shipman, Limited supports Hawaiian language immersion education. Donated 10 acres in 1979 to Hawai'i Christian Schools for the Henry Opukahaia School, later became part of Nāwahī campus. Entered into $1/year license in 2001 with 'Aha Pūnana Leo for 10 acres surrounding the school.
• Hawai'i Community Foundation - Herbert C. Shipman FoundationminorStrategic or Co-development PartnerScholarship program established through the Herbert C. Shipman Foundation, which received the majority of Herbert C. Shipman's assets upon his death in 1976. As of 2024, scholarships continue to be provided for local students through the Hawai'i Community Foundation.
• State of Hawai'i Department of Land and Natural ResourcescoreStrategic or Co-development PartnerCollaboration on conservation efforts to protect Hawai'i's ecosystems. Working with state agencies to monitor and safeguard native species and their habitats, particularly nēnē (Hawaiian goose) at Hā'ena. Joint efforts support wildlife protection and environmental stewardship goals.
• Makai Watch (State of Hawai'i DLNR program)minorStrategic or Co-development PartnerVolunteer program run by State of Hawai'i Department of Land and Natural Resources for marine resource preservation. Kea'au Makai Watch has approximately 15 volunteers. W.H. Shipman supports the program with participation in coastal cleanups and community events.
• TetrachromeminorImplementation/ SI/ Consulting PartnerWebsite design and branding agency that collaborated with W.H. Shipman, Limited on the company website. Led by Alan Ohara, Tetrachrome created the digital presence reflecting the company's heritage, values, and forward-thinking vision.
• Puna HongwanjiminorStrategic or Co-development PartnerIn recognition of Puna Hongwanji's 75th anniversary and vital role in the community, W.H. Shipman, Limited donated the land under the temple in 1976.
• Nature ConservancyminorStrategic or Co-development PartnerSold 500 acres at Puakala Ranch on Mauna Kea to The Nature Conservancy in 1995. The ranchland eventually became part of Hakalau Forest National Wildlife Refuge.

Scale indicators5 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Castle & Cooke: Hawaii-headquartered privately held land and real estate company founded by the Dole family with a near-identical profile to W.H. Shipman — owns industrial, commercial, and residential real estate plus agricultural (dole) operations across Hawaii and the U.S. mainland. Directly comparable as a multi-generational Hawaii land steward and developer.
• Alexander & Baldwin: Hawaii-focused real estate company with a portfolio of commercial/industrial properties, agricultural land, and diversified real estate operations. Comparable to W.H. Shipman in island-centric real estate strategy and Hawaiian legacy ownership, though publicly listed (NYSE: ALEX).
• Maui Land & Pineapple Company: Hawaii-based landowner that historically combined pineapple/agriculture with residential and commercial real estate development. Comparable to W.H. Shipman as a Hawaii legacy land company transitioning from agriculture to real estate-led value creation.
• Hawaiian Properties: Hawaii-based commercial property management and brokerage firm managing office, retail, and industrial properties across the islands. Comparable to W.H. Shipman's commercial leasing and management operations, though structured as a third-party manager rather than an owner-operator.

Broad incumbents

• Kamehameha Schools / Bernice Pauahi Bishop Estate: Hawaii's largest private landowner and a direct counterparty to W.H. Shipman (purchased 300 acres in 2000). Operates real estate, agricultural, and commercial assets at scale across Hawaii and is comparable as a Hawaii-focused institutional landowner/developer, though operating as a nonprofit trust rather than a for-profit.
• Prologis: The world's largest industrial REIT with a U.S. logistics-focused portfolio including the former Duke Realty and Liberty Property Trust assets. Comparable to Shipman Business Park operationally as a landlord of MG-zoned industrial product, but at vastly larger institutional scale.
• First Industrial Realty Trust: U.S. industrial REIT focused on light industrial and bulk distribution properties — overlapping tenant use cases (manufacturing, distribution, wholesale) with Shipman Business Park and Durham Hall. Comparable as an institutional landlord of small-bay and bulk industrial product.

Regional players

• Rexford Industrial Realty: Southern California-focused industrial REIT specializing in infill last-mile logistics. Operationally similar to Shipman's Oregon portfolio (Tigard/Tualatin infill industrial near major freeways) but regionally distinct and institutional in scale.
• Tradewind Capital Group: Hawaii and Pacific-focused real estate investment and management firm active in commercial and industrial properties. Comparable as a regional real estate operator serving the same Hawaii market dynamics that shape W.H. Shipman's portfolio.

Others

• Duke Aiona / Local Hawaii Landholding Families: Several other multi-generational Hawaii landholding families (e.g., Robinson family, Campbell Estate successors, Dillingham family entities) operate comparable portfolios of legacy agricultural, commercial, and industrial Hawaii land. Comparable to W.H. Shipman as a peer archetype of patient family-controlled Hawaii land stewardship.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/w.h.-shipman-ltd.

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

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 WH. Shipman