This is an early view of the dormant volcano Mauna Kea on the island of Hawai'i. The bay in the forground is probably Kauna'oa Bay.
The painting was bought at an auction for Laurance Rockefeller, who had a personal connection to the subject. One of his Rock Resort developments, the Mauna Kea Beach Hotel, was built on the beach depicted in the painting in the 1960's. He chose to hang it in his personal study in the Mansion amongst other items related to or reminiscent of Rock Resort properties.