The Palace was built and opened in 1925 at the peak of the heyday for American movie palaces. It was originally part of a small family of theaters owned and operated by Adam C. Baker, a dashing Hawaiian gentleman who was the nephew of the last royal governors of the island of Hawai‘i. Adam Baker had been involved in the theater business since the early 1900s and was a well-known showman in Hawaii. The Palace was built on a scale that had never been seen outside of the capital city of Honolulu, and it was always the grandest theater on all the neighbor islands. This vintage theater is located at 38 Haili Street in downtown Hilo on the Big Island of Hawaii. It is a venue for movies and live events.

Opened in 1932, this Wallace Theater complex is located at 174 Kamehameha Avenue in Hilo on the east side of the Big Island of Hawaii.

This Wallace Theater complex is located at 111 East Puainako Street in Hilo on the east side of the Big Island of Hawaii.