Hi, Bau--the names in the song (Akebono, Musashimaru and Konishiki) are the Japanese pseudonyms of Chad Rowan, Fiamalu Penitani and Saleva'a Fuauli Atisano'e, three sumo wrestlers from O`ahu (Penitani was born in American Samoa but moved to Waianae as a child).
As I understand it, they became Japanese sumo champions at a time when it was unheard of for foreigners to be competitive in this sport.
Iz's song offers an interesting comparison to another older mele: "Kilakila Na Rough Riders". This mele tells the story of three paniolo from the Big Island (Ikua Purdy, Jack Low and Archie Ka`aua) who-- against anyone's expectation-- won a World Championship rodeo competition in Wyoming in 1908. You can listen to one version of this mele here.