Honolulu Business News

Up to date business news from Pacific Business News of Honolulu

• Pacific Office Properties sells First Insurance Center February 23, 2012
  Pacific Office Properties Trust Inc. is selling the First Insurance Center building in Honolulu to Senior Housing Properties Trust, a publicly traded real estate investment trust affiliated with the REIT that is the largest owner of industrial property in Hawaii. Pacific Office Properties (Amex: PCE), one of the largest owners of office properties in Honolulu, is selling the fee and leasehold interests in the Ward Avenue office building, whose largest tenant is First Insurance Co. of Hawaii, for $70...
• Poll shows Hawaii is America’s favorite state February 23, 2012
  A new poll confirms what residents of the Aloha State already knew — Americans love Hawaii. The poll by Public Policy Polling asked American voters what their impressions of each state were, and Hawaii was the overwhelming favorite. Hawaii received 54 percent positive impressions, and only 10 percent negative — 36 percent were not sure. On the other end was California, which received a 27 percent favorable and 44 percent unfavorable. The next most favorable state after Hawaii was Colorado, which received 44 percent positive impressions and 9 percent negative and Tennessee, which received 48 percent positive and 14 percent negative, Public Policy Polling said in a statement...
• The Gas Co. and GM open center for hydrogen-powered cars February 23, 2012
  The Gas Co. and General Motors plan to open a service center in Honolulu for hydrogen fuel cell vehicles this week. The two companies will dedicate the facility at The Gas Co.’s property at 515 Kamakee St. in Kakaako on Thursday, along with members of the Hawaii Hydrogen Initiative. GM plans to use the facility to maintain its fleet of fuel cell vehicles in Hawaii. “We have been working with GM on providing them the space so that they can develop a service center to maintain their fuel cell cars and that’s what this is, the center’s now been set up,” Stephanie Ackerman, a spokeswoman for The Gas Co...
• EPA gives University of Hawaii $15k to study marine debris February 22, 2012
  The University of Hawaii has received $15,000 in funding from the U.S. Environmental Protection Agency to study plastic debris that gets caught in the filters of cooling systems on ships. The project will track plastic marine debris as it crosses the Pacific Ocean in the filters of cargo ships, the EPA said in a statement. “Plastic marine debris can have a large impact on the marine environment as it never really ‘goes away. It eventually breaks down into smaller and smaller pieces, and can be eaten by wildlife such as seabirds and fish,” EPA spokesman Dean Higuchi said in a statement...
• Territorial Bancorp, HEI only local stocks to post gains February 22, 2012
  The stocks for Territorial Bancorp Inc. and Hawaiian Electric Industries Inc. were the only Hawaii stocks to post gains Wednesday. A majority of Hawaii issues followed the broader markets to close lower. The Dow Jones Industrial Average lost 27.02 points, or 0.21 percent, to close at 12,938.67, while the Nasdaq lost 15.4 points, or 0.52 percent, to close at 2,933.17. Gainers: Hawaiian Electric Industries Inc. (NYSE: HE) closed at $25.40, up 2 cents, or 0.08 percent; Territorial Bancorp Inc. (Nasdaq: TBNK) closed at $21...
• Hawaii tourism spending should be up 6.4% in 2012 February 22, 2012
  State economists predict Hawaii will continue to see steady growth this year, especially in the tourism sector, which saw 15 percent growth in visitor expenditures last year. Hawaii visitor expenditures are expected to grow another 6.4 percent in 2012, the largest increase of the economic indicators referenced in the state Department of Business, Economic Development and Tourism’s first-quarter state forecast. The state expects positive growth in tourism, jobs, personal income and Hawaii’s gross domestic product not only for this year, but for 2013, 2014 and 2015...
• Hawaii Pacific has plans for student dorms at Aloha Tower Marketplace February 22, 2012
  Hawaii Pacific University is in talks with the new owner of the Aloha Tower Marketplace over using the second floor of the harborside retail and restaurant complex near downtown Honolulu for student housing. The Honolulu Star-Advertiser reports the private university is in negotiations with new owner Hawaii Lifestyle Retail Properties LLC over converting the space into dormitory lofts with 250 beds. The newspaper reports university officials feel the plan would strengthen its downtown presence and help alleviate a housing shortage for students, many of whom are from overseas...
• Keopuka Lands in Hawaii up for auction February 22, 2012
  Some 660 acres of land in South Kona on Hawaii's Big Island that Hokulia developer Lyle Anderson had tried to develop as a golf course community more than a decade ago is being sold through a sealed-bid auction. West Hawaii Today reports bids are being taken on the lands between Hokulia and the Captain Cook Monument on Kealakekua Bay, known as the Keopuka Lands, until March 22, with an opening bid of $5 million, according to keopukahawaiiauction.com. Anderson's plan to develop the land was thwarted in October 2000, when the state Land Use Commission ruled that the developer would have to request to have the land reclassified from agricultural to urban.
• Worker dies after trench collapses at Honolulu construction site February 22, 2012
  An Oahu construction worker died after being trapped underneath a pile of dirt that had collapsed into a trench where he and two other men were working at a house in the Waialae Iki neighborhood in Honolulu. KHON reports that the two other workers, who were all with W.A. Felix Builders of Waipahu, were able to dig themselves out of the collapsed trench Tuesday morning, but the third was trapped until other workers were able to dig him out.
• Dumpster fire causes early morning Waikiki hotel evacuation February 22, 2012
  An early morning fire Wednesday in a basement dumpster at the Hawaii Prince Hotel prompted the evacuation of the Waikiki hotel's staff and guests. Hawaii News Now reports about 150 to 200 people were forced to wait outside for an hour after the fire broke out at 1:17 a.m., until the Honolulu Fire Department allowed them back inside. Hawaii News Now reports the fire was contained to the dumpster and there was no major damage reported. Hawaii News Now reports another fire broke out at 1:33 a.m. at the Ala Moana Hotel nearby, but was confined to the kitchen of the Royal Garden Restaurant, and did not trigger an evacuation of the hotel.