Former acting Mayor Kirk Caldwell formally entered the race for mayor today, saying he would be a hands-on executive who would be more than a single-issue candidate.

"I believe you deserve better than what you’re getting right now," Caldwell said at a morning news conference to announce his candidacy. "And I can do the job."

Caldwell enters what is expected to be a three-man race, with incumbent Mayor Peter Carlisle and former Gov. Ben Cayetano vying for the city’s top job. Cayetano has not formally entered the race, but said Wednesday that the prospect of him doing so "looks pretty good."

Caldwell, a former state representative and city managing director, has been raising money for a potential mayoral bid.

Carlisle won a special election in 2010 to fill the final two years of the term vacated by Mufi Hannemann, who ran for governor and was required by law to resign as mayor. Carlisle won with 39 percent of the vote. Caldwell finished second with 34 percent.