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Slice has great potential for both commercial and military use, said Steven Loui, president of Pacific Marine.
Commercial uses include as a tour or sport fishing boat, oceanographic research vessel, oil spill response ship and a fast ferry. Potential military uses include as a patrol boat, mine counter-measure vessel, missile launcher and for surveillance and special warfare operations missions, Loui said.
"If the design proves successful, we would like to use local craftsmen to build Slice ferry vessels here in Hawaii for export around the world," he said.
The Slice prototype cost about $8 million but the company expects production models to be lower.
Slice technology is based on the high-speed SWATH - Small Waterplane Area Twin Hull - technology which were used in two vessels built by Pacific Marine's subsidiary, Navatek Ships Ltd. for tourist service. Navatek 1 has been used in Honolulu since 1990 and Navatek II in Maui since 1993.

Loui said that Slice has the same stable ride of SWATH but can go faster with the same horsepower. Slice is designed for 30 knots, while the Navatek ships operate at 18 and 21 knots, he said.
"This combination of stable ride and high speed makes Slice an attractive possibility for a Hawaii inter-island ferry boats," Loui said.
The Slice design allows for adding two decks to accommodate 300 passengers. The company last year completed a feasibility study on the ferry system.
Hawaii Sen. Daniel Inouye secured the $14.3 million in federal funding necessary to design, build and test the Slice technology.
Lockheed Martin Corp. did the design work, and retains rights for the military applications. Pacific Marine built the ship and has the commercial rights.
Honolulu Shipyard Inc., a subsidary of Pacific Marine, assembled the Slice vessel at Pier 41. Navatek ships are operated by Pacific Marine subsidiary Royal Hawaiian Cruises.
Length: 104 feet
Beam: 55 feet
Draft: 14 feet
Speed: 30 knots
Range: 400 nautical miles (at 30 knots)
Status: Prototype
Cost: $8 million
Builder: Honolulu Shipyard Inc.
Designer: Lockheed Martin Corp.
Launch date: Tuesday