In August 1970 a local chapter of the National Railroad Historical Society was formed and granted a charter that October. On February 17, 1971 a Waialua Agricultural Company trailer was used to transport WACO 6 to Lualualei. Waialua Elementary School students gave the old locomotive a send off before it left Waialua. No. 6 was a magnet that brought a group of talent to Lualualei shortly after. Boiler makers, welders and machinists were joined by others who wanted to lend a hand. 

• In October, 1971 The State of Hawaii, Department of Regulatory Agencies granted the Hawaii Chapter of the National Railway Historical Society, Inc. a charter of incorporation. 

• The use of “Hawaii Chapter, NRHS” posed a problem, the name was too long and it really didn't address about local railroading. So at a membership meeting in December 1973, the members voted to use the name, “Hawaiian Railway Society” without severing itself from the NRHS. 

•  On Saturday, November 25, 1972, a dedication ceremony marked the restoration of WACO No. 6, the locomotive which started it all. On hand were local dignitaries to celebrate the event. After 84 Sundays of restoration work, a dream came true. WACO No. 6 was placed on the State and National Register of Historic Places as a historic item in 1974 and in 1975, the remaining Oahu Railway and Land Company right of way between Fort Weaver Road and Nanakuli was placed on the National Register of Historic Places. 

• The Society continued to acquire equipment from various public and private sources. By Act of Congress the U.S. Army donated a 25 ton General Electric Diesel and a number of ex-Army flat cars and Bishop Museum transferred custody of OR&L locomotives 6 and 12 along with two OR&L passenger cars, a boxcar and flat car to the Society.

• With the cessation of railroad operations at Lualualei the Society was forced to move its base of operations. A location was found adjacent to the old OR&L right-of-way which belonged to the Campbell Estate and rented for $1.00 per year. Between October 1978 and January 1979 all equipment was moved from Lualualei to the Ewa Yard by the 84th Engineers. This included two 45 ton and one 65 ton Whitcomb diesel locomotive, a gondola, two tank cars and a number of boxcars donated to the Society by the Navy when Lualualei abandoned rail operations. 

• The Society continued to grow over the years and continued to acquire equipment albeit at a much slower pace. Restoration of the existing right-of-way required a great deal of effort and money. Of the approximately 12 miles of ROW remaining 7 miles are usable. Restoration is continuing slowly as another bridge is needed but well worth the effort as the track runs right along the ocean.

• The Society is now a member of the Association of Railroad Museums rather than the NRHS although individual members still retain their association. The most recent acquisition of the Society is OR&L locomotive No. 85, a 1910 built ALCO 4-6-0 and the only remaining OR&L road locomotive in existence. In fact, the only OR&L steam locomotive left are all in the Society’s collection. Kauila No. 6, a 1889 Baldwin 0-4-0 converted to a 0-4-2 is the first locomotive operated by the OR&L. No. 12 is a 0-6-0 switcher with slope back tender built by ALCO in 1912 and was the last operating steam locomotive of the OR&L. No. 85 rounds out the list.

• Hawaii has a rich history of railroading. Seven public common carrier railroads ran on four of the islands. At one time or another, 47 sugar plantations had private railway systems, each with from one to nine locomotives. The Military also had its own rail system. Trains ran on all the islands except Niihau and Kahoolawe. The Hawaiian Railway Society is dedicated to preserving and presenting this history.