Last week, Dods told The Advertiser he was seriously considering running as a Democrat and was talking with his closest and longstanding friends about the possible move.

But during a meeting with his family last night, Dods said he told them that he decided not seek public office, perhaps robbing the Democrats of one their strongest contenders to challenge Republicans in November.
“We have given a lot to the community and I have neglected my family,” Dods told The Advertiser this morning. “I have not given the time I should have given my own family.”

Dods’ decision not to run may breathe new life into the campaigns of other gubernatorial hopefuls who had been waiting to see if the wealthy and politically powerful Dods was going to jump into the race.
The Honolulu banker was seen by some as an attractive candidate because of his lack of political baggage and his ability to raise money quickly. His status as a prominent businessman would have also neutralized Republicans’ criticism that the Democrats are anti-business.

“Absolutely I think I could have won, but family comes first,” Dods said. “Being a non-politician is not a negative. People today are looking for new direction; they are looking for leadership.”

Dods said has no plans to actively campaign for any of the remaining Democratic candidates but may make monetary contributions.

“At this time I like all the candidates. They all have different strengths,” Dods said.

Dods said his family was concerned about the impact a run for the governor’s office would have on his health and the time away from his family. The 61-year-old banker said he has no specific health issues right now, but it was a concern they raised.

“I am no spring chicken anymore,” Dods said.

Speculation about Dods jumping into the governor’s race had increased since Honolulu Mayor Jeremy Harris — the Democratic front-runner — abruptly withdrew from the race. Political observers said some leaders in the party have been searching for another candidate because they were doubtful the remaining three could beat Republican front-runner Linda Lingle in the general election.

But Dods’ credentials as a businessman and multimillionaire was troubling to some in the party, especially social liberals and members of organized labor, who have been supportive of Lt. Gov. Mazie Hirono, the leading Democratic candidate for governor in the race.

“I think it’s a tragedy that you start out a mail boy, my dad was an orphan, my mother never finished high school and that if you work really hard at three jobs, that you should not be eligible for public service because now you’re a millionnaire,” Dods said.
“It’s almost like, ‘Lets keep people down on the plantation,’ and I resent that. To me, that is not the message I think we want to be sending to our children,” Dods said.

Dods worked his way up through managerial positions at the bank and, in 1989, became chairman and chief executive officer of First Hawaiian Inc., the former name of BancWest. He served as president of the American Bankers Association and, from 1998 to 2000, was a member of the Federal Reserve Board’s Federal Advisory Council.

Dods said he still plans to be involved in local politics and will try to help the state when he can.

“I have the best rolodex in Hawai‘i and I would’ve used it to help the people of Hawai‘i and I still will,” Dods said. “I know I have exposed myself just for considering this, but I still believe that politics is honorable and I am never embarrassed.”

Reach Frank Cho at 525-8088, or at fcho@honoluluadvertiser.com.