Following the U.S. annexation of Hawaii in 1898, the sugar industry—dominated by the "Big Five" corporations (Castle & Cooke, Alexander & Baldwin, C. Brewer, Amfac, Theo H. Davies)—consolidated control over:
This oligarchic control persisted until the mid-20th century, when statehood (1959), tourism, military spending, and labor reforms diversified the economy and democratized politics.