This article examines examples of indigenous conceptions of well-being and locally meaningful forms of community development in the Pacific and considers how these coincide, or collide, with development driven by the private sector. The focus is on indigenous communities who live in the vicinity of large multinational corporations, using case studies from Papua New Guinea and Fiji. We investigate how communities' perceptions of well-being intersect with the concept of development as it emanates from the private sector. In order to do this, we explore how communities perceive well-being, what materializes as being significant to its achievement, and what this means in the presence of international capital. Ultimately the purpose of investigating these concepts is to establish a point of reference for considering the effectiveness and value of corporate community development intervention from a community perspective.