Cole grew up in Kailua, Hawaii and graduated with a Liberal Arts Degree from the University of Hawaii at Manoa in 1975. In 1997, the university honored him with the UH Distinguished Alumni Award and in 2004 with an honorary doctorate degree. From 1976 through 1980 he held a variety of positions, starting with selling Prentice-Hall textbooks, rising to become manager of a consulting firm serving emerging software companies. From 1981 through 1984 he was chairman, president and chief executive officer of software companyAshton-Tate. From 1985 through 1987 he was president of Ziff Communications, part of the Ziff Davis Publishing Group. Since the 1980s Cole invested in early-stage technology companies, including Macromedia, Shiva Corporation, and Tops, Inc.. In 1993 Cole became chairman, president and chief executive officer of NaviSoft, an Internet-based software provider. When NaviSoft was acquired by America Online in 1994, Cole became an AOL officer. At America Online, Cole initially was president of AOL’s Internet Services Company then president of AOL New Enterprises group. He held operating responsibility for AOL International, AOL Enterprises, Digital City and AOL corporate development.
Agriculture
In 1996, Cole bought farm called Sunnyside Farms in Rappahannock County, Virginia. Upon leaving America Online in 1997, he focused on organic farming. He worked to remove diseased trees, restore the soil, install an irrigation system and gain organic certification for Sunnyside Farms, which became a major retailer and supplier of premium organic meats and produce in mid-Atlantic markets. Since 1997, Cole has been president of Aquaterra, Inc., an investment management firm that serves as managing general partner for Pan Pacific Ventures and Catalyst II, partnerships with interests in software, real estate, agriculture, retailing, and consumer products. He sold Sunnyside in 2006. On October 15, 2003, Cole was appointed chairman, president and chief executive officer of Maui Land & Pineapple Company. Former AOL Time Warner Chairman Steve Case was a large stockholder of Maui Land & Pineapple. During Cole's appointment, the company reinvested in its three primary business divisions: agriculture including Maui Pineapple Company, the resort and real-estate through the Kapalua Land Company. Partnerships to invest in renewable energy and sustainability initiatives included the Sustainable Living Institute of Maui, started in 2004, and Hawaii BioEnergy formed in 2006 to research renewable energy in Hawaii. In 2006, plans were announced to expand Kapalua Resort with a Ritz-Carlton Hotel. Cole was reported as the second highest paid executive in Hawaii for 2007, despite missing five of seven performance goals. On June 11, 2008, Kamehameha Day, he rang the closing bell of the New York Stock Exchange to celebrate MLP's move from AMEX. Lehman Brothers, who had provided the financing for the Kapalua expansion, declared bankruptcyin September. After losses through 2008, Cole was replaced as of January 1, 2009. The Kapalua loan was in default, and finally was foreclosed in 2010.
