B.J. Penn says he’s perfectly content living in Hilo retired from mixed martial arts.

There’s one scenario that could get him back in the Octagon one last time.

A proposed UFC event at Aloha Stadium that current featherweight contender Max Holloway has been pushing could potentially get the former two-division UFC champion to fight one more time.

"That’s probably the only thing I would do," Penn said Wednesday. "Max has been like, ‘man it would be awesome if you had the UFC come to Aloha Stadium and you could come out and fight with the young kids for once,’ and that would be the only kind of thing, but I don’t really have that (itch) at all."

Penn and Holloway met for the first time on Wednesday for a local media tour highlighting Penn’s enshrinement into the UFC Hall of Fame in July at the UFC Fan Expo in Las Vegas.

Holloway, currently on a six-fight winning streak, is waiting for 145-pound champion Jose Aldo’s title fight against Conor McGregor in July before figuring out what his next fight will be.

Holloway jumped to No. 5 in the featherweight rankings after dismantling Cub Swanson last month. His last loss was a unanimous decision to McGregor, who is undefeated in the UFC. Holloway is the only fighter to take him to the third round.

"Everybody just goes around and keeps telling me, ‘Ho, you’re the only guy to go the distance ever in his career,’ like I should go around holding a sign," Holloway said. "A loss is a loss and I don’t care how it happens. Why should I be proud of losing? You’re a proud loser? That makes no sense.

"I want to get that guy back. A McGregor versus Holloway two in Hawaii would be great headlined by B.J. Penn versus whoever. That would be awesome."