For University of �鶹��ý at Mānoa finance and risk management professor Hua Chen, �鶹��ý’s unique geographic position as a bridge between Asia and the continental U.S. provides an ideal stage for his work. Here he can connect rigorous research with global, practice-focused teaching.

“What keeps me inspired as an educator and a researcher is the constant evolution of finance and the opportunity to continue learning while helping students make sense of it,” he said. “The field is never static—new risks arise, technologies reshape markets and global events challenge our understanding of uncertainty. This dynamism drives me to develop research projects and bring fresh insights into the classroom.”

Chen’s research focuses on financial stability and systemic risk, enterprise and corporate risk management, longevity and mortality risk and insurance economics. His work appears in widely cited publications in leading journals and drives the curriculum of his courses, shaping both the content and the approach of his instruction.

Reaching students, extending borders

Since joining the college in 2018, his impact has reached hundreds of students and extends across borders. Chen’s been recognized for his research contributions with numerous accolades, including the Junior Scholar Award from the Asia-Pacific Risk and Insurance Association, Temple University’s Award for High Achievement in Sponsored Research, an Excellence in Reviewing Award from the Journal of Risk and Insurance and “Professor of the Semester” in Shidler’s .

Chen, who is also the faculty director of the MSF program and the chair holder of the First Insurance Company Distinguished Professorship, said that being a part of the college has allowed him to make meaningful contributions to higher education and scholarly research, which he’s found to be profoundly rewarding. He also sits on editorial boards, participates in regular speaking engagements and is planning an international conference for July. For Chen, the ever-changing nature of finance is what keeps him energized.

For more on how Chen prepares students for careers in finance and other Shidler stories, see the .

A sophomore has returned from Antarctica after serving as the only participant from �鶹��ý and the United States on a global expedition focused on protecting the continent beyond 2041.

“It’s one of those places that genuinely shows that we don’t need to go in, and we don’t need to find and exploit things for everything that they have.” — Eric Gee

Eric Pōmaikaʻi Gee, an and major in the , with a minor in in the , was one of two Villars Institute Fellows selected for the , a two-week mission that took place in December 2025. The expedition brought young leaders, educators and scientists to Union Glacier Camp, a research and logistics hub deep within Antarctica.

“Antarctica serves as a symbol of hope,” Gee said. “That’s the way I’ve started to see it because in Antarctica, no one has any claim over any territory there. Everyone on Earth owns it. It’s one of those places that genuinely shows that we don’t need to go in, and we don’t need to find and exploit things for everything that they have.”

Led by polar explorer Robert Swan, the expedition centered on strengthening global awareness of Antarctica’s importance to Earth’s climate system. According to the Villars Institute, the continent holds roughly 70% of the world’s freshwater in its ice sheets and plays a critical role in regulating global temperatures, ocean circulation and sea levels.

For Gee, one of the most striking observations came from the temperatures. The team prepared for conditions near -10°F. Instead, temperatures climbed to around 30°F on some days, underscoring the effects of a changing climate. Gee also noted that a thinning ozone layer over Antarctica resulted in higher levels of ultraviolet radiation, requiring additional precautions by the team, as well as adapting to 24 hours of straight sunlight during this time of year.

“You have to wear a specific amount of layers,” Gee said. “If you wear too many layers, you overheat and when you overheat you start to sweat. The moment you sweat, you’re not in a good spot because that sweat will very quickly drop your body temperature and I witnessed that the hard way on some of our excursions.”

Antarctica research, education

Throughout the mission, Gee—a Waikōloa native and graduate of Kealakehe High School—and the international team connected live with classrooms around the world, marking the first real-time educational broadcast from Antarctica. Participants collaborated on scientific activities, including environmental DNA sampling, and tested renewable energy and storage systems designed to function in extreme polar conditions. The work highlighted that research in Antarctica can be powered by renewable energy rather than fossil fuels.

Gee’s inspiration

“I’ve always been passionate about learning how things within our world react and how renewable energy and environmental sustainability play a factor into our day-to-day lives,” Gee said. “My inspiration for that came from being on �鶹��ý Island, and just seeing [how] the valleys of Waimea and Kawaihae used to be green when I was growing up, and serious drought turned them dark brown.”

A key focus of the expedition was the Antarctic Treaty, which designates the continent as a natural reserve devoted to scientific research, peace, and prohibits mining and commercial exploitation. Its environmental protections are at risk beginning in 2041, when the treaty is up for review, making international conversations and public awareness about preserving one of Earth’s last untouched areas all the more urgent.

Sharing your story

Gee launched @theantarcticdiary on Instagram and encourages young people to get involved.

After returning to �鶹��ý, Gee will begin sharing lessons from the expedition through school visits, community presentations and public outreach, extending UH Mānoa’s role in global climate education, youth leadership and environmental stewardship. He recently founded a platform called “The Antarctic Diary,” to share his reflections from Antarctica, and to encourage other young people to share their story and establish mutual connections from around the globe.

“I feel like as a young person and as young people, it is sometimes hard to feel like you really have an impact and that your voice can really hold meaning. It can feel like you’re listened to but not heard, and I feel like that’s what I experienced my entire life,” Gee said. “That’s why I’m proud to announce the launch of my program called The Antarctic Diary.”

UH impact

Gee, who studied abroad in Florence, Italy for his freshman spring semester through the UH Mānoa Study Abroad Center, called UH “an extraordinary university.”

“We have many incredible programs and educators who care deeply about their students and our state. I’m thankful for my classes, and the professors and our administration have worked with me to help me make the most of my opportunities, both in and outside of UH,” Gee said. “The access to different study abroad programs is something I encourage every single student to utilize and take advantage of. I have a lot of interests and commitments, and it means a lot to have the support of the university as I pursue them.”

When Jonavan Gonzalez walks across the Stan Sheriff Center stage on May 17, it will mark the culmination of a six-year journey—one that began at Nānākuli High and Intermediate School and led to two degrees from the University of �鶹��ý at ����ԴDz�. After earning his bachelor’s in in 2023, Gonzalez is now graduating with a master’s in , a rare academic combination that reflects his drive to blend technical innovation with business strategy.

“It’s just an exciting time,” Gonzalez said. “I’m looking forward to seeing where everything I’ve learned takes me next—ideally at Disney, NASA or SpaceX.”

A journey shaped by inspiration, family

Born and raised in Nānākuli, Gonzalez said his early aspirations were shaped by both his aspirations and his imagination.

“Tony Stark, Iron Man, is like my idol and he’s also a mechanical engineer,” he said. “That was my main motivation for mechanical engineering. I knew I always wanted a higher education degree after high school, but I know it’s rare for Nānākuli graduates to get their bachelor’s in engineering.”

That perception shifted when Gonzalez’s older brother pursued a civil engineering degree at .

“Watching him do it showed me that it was possible and that as long as I follow his footsteps, I’ll be good,” Gonzalez said. “The degree is what I want, so why not go for it?”

Bridging the gap: Engineering meets finance

He enrolled at UH ����ԴDz� in 2019 and dove headfirst into mechanical engineering.

Meet more amazing UH spring graduates

“I earned my undergrad degree in mechanical engineering because I’ve loved solving complex problems and coming up with innovative solutions,” he explained. “But I realized I was also passionate about finance and business. I didn’t want to quit engineering, and it was too late to get a minor in business, so I decided to get my master’s in finance.”

Gonzalez sees his combined degrees as the perfect foundation for a future that blends technical expertise with business acumen.

“With my double degrees, I’m hoping to start in the workforce, whether at Disney, NASA or SpaceX as a mechanical engineer, or at Disney, they call themselves ‘imagineers,’” he said. “And from there, I’ll work my way up the corporate ladder to more business-related roles, elevating from product manager to executive roles in either finance or operations.”

Mentoring the next generation

At UH, Gonzalez served as a PACE Leader at the in the , mentoring fellow students on prototype design, product development and pitching. In 2024, he received the Mamoru and Aiko Takitani Foundation Scholarship for RISE, and in 2025, Gonzalez was a semifinalist in the UH Venture Competition for his work on COCO, an AI-powered app designed to reduce food waste.

“I’ve been with the program for about two years now. As a PACE leader, I’ve had the opportunity to mentor and support other students interested in entrepreneurship and innovation,” he said. “But most importantly, it’s just the networking aspect of it all, especially as someone like me in my position living here at the Walter Dods, Jr. RISE Center. It’s just so convenient and perfect.”

Inspiration for the future

Despite his technical expertise and accomplishments, Gonzalez stays grounded in where he came from and offers advice for others in his community.

“Especially for Nānākuli or similar schools, it’s not where you start. It doesn’t define where you go, especially in your career,” he said. “If you put in the work, believe in yourself, you can achieve pretty much anything, and that includes higher education.”

“UH means so much to me. It’s my local college. It’s where I grew up here personally and grew here professionally. My time at UH Manoa gave me the foundation to chase my passions in engineering, finance, and leadership. Beyond academics, UH gave me the community, lifelong connections and the confidence to take on bigger goals. It’s truly been a place that shaped who I am today.”

—By Marc Arakaki

A team of three University of �鶹��ý at ����ԴDz� graduate students won the 2024 Association of Government Accountants (AGA) , earning each team member a $1,500 scholarship award.

Thomas Fukata, Seth Addison and Kaedin Okimoto analyzed data and created a comprehensive “citizen-centric report”—a four-page report that summarizes key demographics, financial performance and ongoing projects and initiatives—and an engaging, high-quality video highlighting the state of Maine. Hosted by the National Association of Government Accountants, the competition featured 25 teams with five making it to the final round.

The challenge raises student awareness of the importance of government accountability and transparency, helps students learn how much “data” is available that needs to be turned into information for citizens to access, and raises awareness about different types of careers in government.

“Participating in this competition allowed me to learn something new about Maine, especially since I rarely have the chance to research other states and the initiatives they are implementing for their people,” Fukata, the team’s captain, said. “It made me wonder if �鶹��ý can one day implement similar initiatives in sustainability and economic development that we saw with Maine.”

Teams were judged by a panel of government finance experts, with finalists presenting their findings through a video simulating a government meeting. This victory marks the fourth UH ����ԴDz� team win in the past five years, solidifying the university’s reputation for excellence in government finance education.

The team was guided by UH ����ԴDz� (SOA) Professor and Lloyd Fujie/Deloitte Foundation Distinguished Professor, Jian Zhou.

“Our students consistently demonstrate exceptional analytical skills, innovative thinking, and unwavering dedication to excellence in government finance,” Zhou said. “This national competition victory reflects the top-notch education and mentorship we provide at the Shidler College of Business, where we prepare students to transform complex data into meaningful insights for public accountability. We sincerely appreciate the support and contributions of Pamela Young, an AGA–�鶹��ý member and SOA Advisory Board member.”

The University of �鶹��ý recently concluded its annual review with credit rating agencies of financial metrics as part of a process known as “annual surveillance.” The two credit rating agencies that rate UH’s outstanding bonds, Moody’s Investor Service and Fitch Ratings, both re-affirmed the university’s ratings at “Aa3” and “AA” respectively. Both agencies also believe the forward financial outlook for UH ����ԴDz� is stable.

The ratings inform investors who either hold existing bond debt of the university or are considering investing in University of �鶹��ý bonds in the future. The ratings are an important factor for potentially lower interest rates when the university issues future debt, which could translate into saving UH millions of dollars in upcoming years.

Both ratings agencies attributed UH’s stable outlook to well-balanced operations with margins sufficient for debt service and capital investment. The University of �鶹��ý currently has more than $396 million in outstanding revenue bonds. Annual debt service of the university can exceed more than $30 million annually through 2041.

“This strong rating from the agencies shows the solid belief in our institution and the current trajectory of a number of factors, including increasing enrollment, positive state funding, record extramural funding, and sound financial decisions,” Vice President for Budget and Finance and CFO Kalbert Young said. “When the university sells bonds in the future to fund capital improvement projects these ratings can help to secure lower interest rates at that time, thereby reducing the financial burden of the university and ultimately students.”

UH’s financial comptroller Amy Kunz said, “Since the financial crisis in the early 2000s (2007–08), financial institutions and credit agencies have been much more diligent with elevated scrutiny in their examination of financial surety. The University of �鶹��ý has equally been improving its fiscal management and financial position. These ratings affirm our efforts and the substantial positive progress.”

Young pointed out that UH has worked hard to lower its debt and increase cash reserves, which are looked at closely when the agencies rate institutions.

The at the University of �鶹��ý at ����ԴDz� hosted its inaugural Innovations in Financial Intermediation Symposium (IFIS), marking a significant milestone for the college.

The conference in June 2024 focused on financial intermediation, particularly the growing field of cryptocurrency.

“We personally invited leading researchers in the banking area,” said Jiakai Chen, First Hawaiian Bank Distinguished Associate Professor of Banking. “We started by discussing the idea of running a symposium among economists in the New York Fed, which I visited in the spring semester. The word spread out within the network of researchers, and the response was overwhelmingly positive.”

The quality of presentations was a highlight of the symposium.

“We hosted some of the most active researchers in financial intermediation and blockchain,” said Qianqiu Liu, the chair and distinguished professor of finance. “The intimate setting allowed for deep dives into each topic and facilitated meaningful networking.”

Shidler College Dean Vance Roley commenced the symposium with his opening remarks.

“This inaugural Innovations in Financial Intermediation Symposium has proven to be a remarkable success,” he said. “I deeply appreciated the closely knit meeting environment among high-quality researchers, which facilitated intense and fruitful discussions.”

This gathering was held on June 27 and was strategically timed to coincide with the Western Finance Association Conference, one of the elite conferences in academic finance, which occurred in Honolulu, June 28–30.

It attracted 21 participants from around the world, including representatives from institutions such as the Haas School of Business at the University of California, Berkeley; Federal Reserve Bank of New York; Copenhagen Business School; Wharton School at the University of Pennsylvania, Sloan School of Management at Massachusetts Institute of Technology; Columbia University; Harvard University; and the University of Chicago.

The conference was sponsored and co-hosted by Shidler College and Circle Internet Financial, a company that manages USDC, the second-largest stablecoin worldwide.

For the entire story, .

University of �鶹��ý at Mānoa athlete Raha Peiravani, is the recipient of the Elite 90 award for the 2024 NCAA Division I Womenʻs Water Polo Championship recognizing achievements for the student-athlete’s academics.

Peiravani, majoring in finance with a minor in psychology, currently carries a 4.0 GPA. Peiravani was presented with the award during the championship banquet at the University Club in Berkeley, California.

The Elite 90, an award founded by the NCAA, recognizes the true essence of the student-athlete by honoring the individual who has reached the pinnacle of competition at the national championship level in his or her sport, while also achieving the highest academic standard among his or her peers. The Elite 90 is presented to the student-athlete with the highest cumulative grade-point average participating at the finals site for each of the NCAA‘s championships.

Eligible student-athletes are sophomores or above academically who have participated in a sport for at least two years with their school. All ties are broken by the number of credits completed.

For more on Peiravani, go to

Reese Kisaba is a �鶹��ý kid at heart. He grew up in ����ԴDz� Valley, graduated from Roosevelt High School and will soon graduate from the University of �鶹��ý at ����ԴDz�. Following his graduation this spring, Kisaba plans to stay and work in the islands to give back to the community that helped raise him to who he is today.

“Throughout college, I really got to become active in the community,” Kisaba said. “I got to explore other places too, and I studied abroad. Even though my study abroad was amazing, there’s nothing like the people in �鶹��ý. There’s nothing like the community. I can’t imagine moving away from a place that is so comfortable, yet still gives me so many opportunities.”

Initially, moving away was exactly what Kisaba intended to do after high school. It was because of the pandemic that Kisaba decided to stay home and explore college opportunities right in his backyard.

“I tell people now, if I was gonna go back, no doubt I’m going to UH,” Kisaba said. “Me staying home, that’s the path to take in order to get to that dream of surrounding myself with the good people that I’ve met and more people that I will meet, and just having that community around me, I think �鶹��ý is the perfect place to do that. I think it’s a catalyst for that type of strong tight-knit family.”

Leader, ambassador

On May 11, Kisaba will earn his bachelor of business administration in finance from the , with a minor in economics. During his time at UH ����ԴDz�, Kisaba served on multiple student organizations, including the Business Executive Society of Tomorrow and International Business Organization. He was the Business Night student committee executive director, received the Dean’s Spirit award and served as a .

Kisaba was also awarded the ����ԴDz� Academic Merit Scholarship, appeared on the Dean’s List and studied at the University of Technology Sydney in Australia in fall 2023 through the . Outside of the classroom, Kisaba worked as an admissions assistant with the Office of Admissions and appeared as a student ambassador in multiple spots for “There’s a place for you,” UH’s statewide marketing campaign.

“My main focus as an ‘ambassador’ of the university was to really try to hit home and connect with local students,” Kisaba said. “Growing up, everybody tells you, you gotta get off the rock, you gotta go and see what’s out there. I think that a lot of people don’t realize that there’s so many opportunities that are unique to �鶹��ý that you can’t get in other places. And two, it’s kind of built into the culture of the university. They want you to get out and explore the world.”

Opportunities at home

“You don’t have to leave home to get these opportunities. We have them at UH already, and you can take advantage of a lot more cost effective opportunities for local students.”

During college, Kisaba interned with Ameriprise Financial and earned a full-time job on the road to becoming a financial planner with the company after graduation. While he thrived and achieved at UH ����ԴDz�, he doesn’t consider himself above anyone else.

“I’m just a normal student, and I was given or I had access to the same opportunities that all students can take advantage of,” Kisaba said. “I got a campus job. All students can get a campus job. I joined the club. All students can join a club. I think I just took advantage of those opportunities that were presented to me.”

Check out more stories of our UH spring graduates

Kisaba said UH ����ԴDz� gave him a “second family and a strong support system” throughout college and beyond. To the lifelong Rainbow Warrior, who started going to UH sporting events as a kid, welcome to your new ʻohana—the proud UH alumni family.

—By Marc Arakaki

����ԴDz� Minute: Study Abroad in Australia with Reese

Thousands of pounds of fresh produce and bread have been distributed to hungry students at the , because of the commitment of one very passionate student.

Raiyan Rafid, who will graduate from UH Mānoa in December 2022 with a master’s degree in finance, has given up almost all of his Saturdays since October 2021 to collect fresh produce and bread from farmer’s markets to supplement pantry in conjunction with Aloha Harvest.

“I know firsthand how students on a budget often don’t get to buy fresh produce and bread because of the high price,” said Rafid. “I was motivated to help because I knew that I could help create a bridge between those who want to donate and those in need.”

Check out photos from UH ����ԴDz�’s commencement ceremony

During the past year, Rafid’s efforts have provided more than 5,000 pounds of fresh produce and bread for UH Mānoa students.

“There are generous vendors at and Kakaʻako Farmer’s Market who are willing to donate leftover bread and produce for our students in need,” said Rafid. “It was easy for me to give up my Saturdays to pick up donations because it meant on Mondays that students would have fresh produce and bread.”

Rafid has been working with the since October 2021. He originally came to �鶹��ý as an international student from Bangladesh in 2015. Since then, Rafid has earned an associate degree from Kapiʻolani CC (2018) and a bachelor of arts in psychology from UH Mānoa (2020).

Serving students, center of Rafid’s college life

Serving in student organizations has been the center of Rafid’s college life. This has included his role as president of the UH Mānoa Campus Center Board, treasurer of the UH Student Caucus, and vice president of the (ASUH), which included initiating the ʻŌlelo �鶹��ý Initiative, a free Hawaiian language curriculum open to the public at UH Mānoa in 2020.

• Related UH News story: ASUH offers free ʻōlelo �鶹��ý classes at UH Mānoa, January 10, 2020

Being in ASUH, Rafid knew about Food Vault �鶹��ý and volunteered at a food drop in 2019. Food Vault �鶹��ý is a free service available for students without reliable access to affordable food. All registered UH Mānoa students with a valid student ID can access the food vault. Aloha Harvest is a food recovery non-profit and Food Vault �鶹��ý is one of their receiving agencies.

“When I started graduate school, I learned that Food Vault �鶹��ý needed help,” Rafid said. “Knowing the impact Food Vault �鶹��ý makes towards students in need, I immediately accepted the opportunity to help.”

For the first seven months, Rafid used his own car to collect fresh bread and produce around Honolulu. Eventually Food Vault �鶹��ý moved to using a UH van to collect donations.

Multiple students have joined Rafid to help keep Food Vault �鶹��ý operating. However, produce and bread are two of the most popular items in the pantry. Every Monday, 20–30 students wait for up to an hour before Food Vault �鶹��ý opens to get access to the produce and bread.

“We celebrate Raiyan’s graduation but we will miss him,” said Bonnyjean Manini, director of Student Life and Development at UH Mānoa who also runs Food Vault �鶹��ý. “His shoes will not be easy to fill.”

After graduation, Rafid plans to find a job that relates to his finance degree and possibly work as a financial analyst.

• Read more about other UH Mānoa graduates:
  PhD grad goes from directing commencement to walking in same ceremony, December 20, 2022
  Student speaker encourages graduates to embrace challenges, December 13, 2022
  Fall 2022 graduate personalized degree, discovered passion at ����ԴDz�, December 13, 2022
  Public health grads discover passions, strengthen local workforce, December 12, 2022

Andre Ilagan completed one of the most storied seasons in the history of the program. Big West Player of the Year, All-Big West First Team in singles and doubles, and an NCAA Tournament appearance, were just some of the awards and accomplishments in the 2021–22 season by the junior from Honolulu.

After contemplating forgoing his final year to turn professional, Ilagan decided to return for his senior season with bigger goals for him and his team.

“I still have a lot to improve. That’s one of the main reasons why I stayed. With all of the accomplishments I did this year, I would want to do it again,” Ilagan said. “My second main reason was to win a Big West Championship with my team. One of my goals coming into college was to turn around the program and win a conference championship [lost in semifinals in 2022]. Now, our team is getting a lot better, which I can say I contributed to.”

Ilagan is just the second player in program history to be named Big West Player of the Year and the third to be named conference Player of the Year. This is the third time he has been tabbed an all-Big West first teamer and it is his second time earning first team honors in doubles.

In the 2021–22 season, Ilagan played at the No. 1 spot in both singles and doubles in every match, posting a 9-4 overall and 3-1 conference record. He was ranked as high as No. 11 nationally in singles in the Intercollegiate Tennis Association rankings, and entered the NCAA Tournament ranked No. 40, where he fell in the first round. In doubles, with partner Karl Collins, they went 9-2 overall and 4-1 in conference play.

Academic success part of efforts

Ilagan also excels in the classroom. He graduated with his bachelor’s degree in finance from the in spring 2022, and plans to pursue a second bachelor’s degree in this fall. Earlier this year, Ilagan became the third UH men’s tennis player to earn a . Ilagan was also a recipient of the , the highest honor given to a student-athlete at UH ����ԴDz�. Since 1974, the award is given annually to the top male and female student-athlete who “best exemplifies the ideals for which Jack Bonham stood for in the areas of athletic excellence, academic achievement, public service, leadership and character.”

“He loves challenges, he loves putting himself on the line, he loves to compete, he loves to learn. Those are great qualities to have for anybody who is looking to go to the next level,” Head Coach Joël Kusnierz said. “People can come out of �鶹��ý and do well at the next level—at the college level—but also later on because that is all I wish for him. He keeps doing his best, he keeps progressing, he keeps learning and he keeps giving this a full shot. I have no doubt that if he keeps that mindset, the professional level can be right there for him.”

Giving back to family is ‘number one goal’

Ilagan is a 2018 graduate of Farrington High School and won two state singles titles in his junior and senior years. His success at an early age came from tireless hours of hard work and a little bit of adversity.

“My parents didn’t have much money so I just played every tournament here in the state once a month that everyone plays, and then always saved money for one big trip to go to a big tournament in the mainland,” Ilagan said.

It was gaining the experience in those tournaments, and the love and support from his family that boosted him into the person and tennis player he is today. Andre’s father, Sergio, coached him when he was younger. And Andre’s older brothers, Anthony and Mark, also won tennis titles at Farrington. Andre constantly keeps them in mind as he pursues a professional tennis career.

“That’s my number one goal is to give back to my family first,” Ilagan said. “Everything, all of the sacrifices they have done for me, I’m very thankful for that.”

—By Marc Arakaki