Island Business & Commercial Brokerage Research
Advisory Approach
Island Business & Commercial Brokerage (IBCB), also known as Island Business Brokers, is a Hawaii-focused business brokerage firm specializing in the sale of small and main street businesses throughout the Hawaiian Islands. Founded approximately in 2006-2007 by Jim Mayfield after a 26-year banking career including serving as Vice President and Business Banking Manager at Bank of Hawaii, the firm operates with a distinctly local, relationship-driven approach to business brokerage.
The firm's thesis is straightforward: Hawaii's business market requires deep local knowledge, cultural understanding, and community relationships that mainland firms cannot provide. As the oldest and most established business broker on Kauai, IBCB has positioned itself as the go-to advisor for business owners across the islands who are considering selling their companies. The firm emphasizes long-term seller accessibility post-transaction, with Mayfield noting that he includes language in purchase agreements allowing buyers to contact sellers for up to a year via telephone, email, and video chat for ongoing guidance.
Sector Focus
IBCB maintains a broad focus across Hawaii's diverse small business economy. Their transaction experience spans multiple industries including retail and e-commerce, consumer services, business services, hospitality and tourism-related businesses, and specialized local services. The firm has closed transactions across sectors such as food and beverage establishments, retail stores, service businesses, construction trades, and professional services firms.
Their industry focus reflects the composition of Hawaii's small business economy rather than a selective specialization. The firm has experience with businesses ranging from $500K to several million dollars in transaction value, with particular expertise in owner-operated businesses where the seller's ongoing knowledge is critical to post-transaction success.
Deal Track Record
The firm has established itself as the most active business broker on Kauai, having sold more businesses than any other professional on the "Garden Island" according to their website. Pacific Business News ranked IBCB as the 8th most active commercial real estate brokerage in Hawaii. On Axial, the firm shows one recorded transaction (December 2021), though this likely represents only a fraction of their total deal volume as many small business transactions in Hawaii occur outside of national deal platforms.
While the firm does not publicly disclose aggregate transaction counts or total deal values, their longevity (20+ years in operation), recognition by Pacific Business News, and consistent activity across business-for-sale platforms indicate a sustained track record of closed transactions in the Hawaii market.
Process & Fee Structure
IBCB runs a personalized, hands-on sell-side process tailored to Hawaii's unique market dynamics. Mayfield emphasizes the importance of early preparation, noting that the path from initial thinking to signed purchase agreement is long, and that more specialized businesses require significantly longer sales processes. The firm creates separate listings for companies that "might be ready to sell" to gauge market interest before full engagement.
The firm advocates for proper business valuation, noting that approximately 80% of owners believe their business is worth more than market reality. Mayfield emphasizes that buyers do not pay for potential—they pay based on current and historical financials. The firm works with accredited business valuation professionals to establish realistic asking prices.
On transaction structuring, Mayfield notes that seller financing has become standard in today's market. He indicates that most business sales in the $2-3 million range now include some seller financing component, a significant shift from ten years prior when this was uncommon. This reflects banks' desire to mitigate risk given new owners' lack of operational competency compared to sellers.
Specific fee structure information is not publicly disclosed. As a business brokerage rather than an investment bank, IBCB likely follows industry-standard commission structures rather than Lehman-formula success fees typical of larger M&A advisors.
Buyer Network
IBCB's buyer network consists primarily of individual buyers, local entrepreneurs, and small business investors seeking opportunities in Hawaii. The firm has an Axial membership dating to 2013, indicating access to broader M&A networks for larger transactions. However, their core buyer base appears to be local and regional rather than national private equity firms or strategic acquirers.
The firm maintains that 25-30% of all business sales go to buyers who are actively ready to purchase but waiting for the right opportunity. IBCB markets to this active buyer pool while also cultivating relationships with passive buyers who may be motivated by the right Hawaii-based opportunity.
Competitive Positioning
IBCB differentiates through several key advantages:
- Local expertise: 20+ years operating exclusively in Hawaii market
- Banking background: Jim Mayfield's 26-year banking career including VP role at Bank of Hawaii provides unique financing insights
- Professional credentials: IBBA Certified Business Broker (CBB) designation—only Kauai broker and one of few statewide with this certification
- Community integration: Deep involvement in Kauai civic organizations including founding role in Kauai Island Utility Cooperative (KIUC), presidency of Kauai United Way and Rotary Club of Kauai
- Long-term post-sale support: Structured seller accessibility for up to one year post-closing
- SBA expertise: Multiple SBA awards for loan production, understanding of SBA-guaranteed financing for business acquisitions
Not a Fit If
Based on the firm's positioning and market focus, IBCB is not a fit for:
- Businesses outside of Hawaii
- Large lower middle market transactions ($10M+ TEV) requiring national or international buyer outreach
- Companies seeking pure investment bank representation with institutional PE relationships
- Sellers who expect buyers to pay for "potential" rather than current financial performance
- Transactions requiring complex cross-border or tax structuring beyond main street business sales
Team
Jim Mayfield – President & Founder
- 26-year banking career including Vice President and Business Banking Manager at Bank of Hawaii
- MBA from University of Hawaii, BA from Dartmouth College, Punahou School graduate
- International Business Broker Association (IBBA) Certified Business Broker (CBB)—completed 60 course hours, eight exams, and comprehensive examination
- Member of IBBA and M&A Source (nation's two largest M&A professional associations)
- 7-time SBA Gold & Silver Award winner for approved loan production
- Community leadership: Founding Member of Kauai Island Utility Cooperative (KIUC), responsible for securing $250M+ in funding; past President of Kauai United Way and Rotary Club of Kauai; former Treasurer of Kauai Board of Realtors, Lihue Lutheran Church, Kauai Food Bank, and Contractor's Association of Kauai
Elizabeth Kreitzer – Team Member
- Listed as team member on BizBuySell and other platforms
- Appears to support firm's statewide business brokerage practice
Geographic Coverage
Hawaii statewide with primary focus on Kauai. The firm accepts listings only for businesses and commercial properties in Hawaii, reflecting their deep local market specialization. Office located at 4370 Kukui Grove Street, Suite 214, Lihue, HI 96766.
Additional Notes
Island Business & Commercial Brokerage is NOT a FINRA-registered broker-dealer. The firm operates as a business brokerage, which is a distinct regulatory category from investment banking/broker-dealer activities that require FINRA registration. This is common and appropriate for main street business brokers focused on smaller transactions.