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Pacific Business News
State receives stadium proposal
The development of the much-delayed New Aloha Stadium Entertainment District has taken a step forward, with the submission of a proposal from Aloha Halawa District Partners, the sole team being considered to develop the long-awaited stadium project.<\p> The state Department of Accounting and General Services on July 31 announced it had received a proposal for NASED from AHDP ahead of a 2 p.m. deadline that day.<\p>
Donation will help fund ‘lifesaving research’ at UH Cancer Center
Hawaii real estate investor and philanthropist Jay Shidler has donated $1 million to the University of Hawaii Cancer Center, the center and UH Foundation announced this week. The funding will create the Director’s Innovation Fund, which university officials said will “allow UH Cancer Center Director Dr. Naoto T. Ueno to advance his vision for the lifesaving research being done at the center.”<\p> “Our mission is saving lives, from breakthrough testing and treatments, through research, to making sure that each patient who has cancer is able to receive the highest-quality treatment right here in the Islands,” said Ueno in a statement. “This generous support from Mr. Shidler will make a major impact toward providing innovative care for cancer patients and the community through multiple new initiatives.”<\p>
Pupu Platter 400: A look ahead at our Lahaina coverage
Next week’s Lahaina issue<\p> This column will be taking a break for a couple weeks. One reason is travel on my part, another, specific to next week, is that we’re maximizing how many pages we can give to cover-to-cover Lahaina reporting.<\p>
Why it’s ‘a moment of opportunity’ for Hawaii Island businesses
The labor shortage — and how to find and retain workers — was top-of-mind for panelists at the Hawaii Island Business Panel, which was held for the first time in Hilo on July 12.<\p> Held at the Hilo Hawaiian Hotel, panelists included Bonnie Irwin, chancellor of the University of Hawaii at Hilo; David Kurohara, president elect of the Hawaii Island Chamber of Commerce; Geoff Pearson, general manager of the Outrigger Kona Resort & Spa; Matthew Pickett, general manager of the Hilo Hawaiian Hotel; and Toby Taniguchi, president and CEO of KTA Super Stores. The conversation was moderated by Pacific Business News’ Editor-in-Chief A. Kam Napier and included questions from the audience. <\p>
Challenges mount as the state increases renewable energy sources
On July 9, leaders in the energy industry joined Pacific Business News to discuss what challenges lay ahead as the state nears its renewable energy goal.<\p> Then-Gov. David Ige signed House Bill 623 into law in 2015, mandating that Hawaii move off of fossil fuels entirely by 2045. So far, the state, overall, is up to 33% of power generation coming from renewable sources. Panelists shared with PBN that the transition is not without challenges – especially as the state gets closer to its goal. Reliability and affordability are becoming bigger issues, they said.<\p>
The job market just hit a level not seen in a decade
The job market is slowing to levels not seen in more than a decade, and a weaker-than-expected jobs report Friday morning is fueling anxiety on Wall Street and beyond. <\p> Employers and investors in search of a silver lining can perhaps find it in the form of newly available data on job cuts.<\p>
CPB upgrades its ATM features
Central Pacific Bank is introducing a new language option to its ATMs statewide, the bank announced Thursday.<\p> According to CPB, all 55 of its ATMs will be the first in Hawaii to offer Tagalog and Ilocano language options on its user interface. The bank also recently introduced a card tap feature to its ATMs, so customers "can simply tap on the contactless reader with their card to initiate their transaction for added convenience, security, and time savings," as noted in the release.<\p>
Small-business grants you can apply for this month
Small-business owners are increasingly confident about the economy despite staffing and interest-rate concerns.<\p> New research from financial, insurance and advisory services firm CBIZ Inc. found that business owners have gotten used to higher but relatively stable interest rates over the last 18 months.<\p>
Check out this plastic surgery center's new digs
Oahu-based Asia Pacific Plastic Surgery opened its new "multi-million dollar" office at Nauru Tower this month and business so far has been "great," owner and operator Dr. Shim Ching recently told Pacific Business News. He added, the office is seeing 75 to 100 patients daily.<\p> The company moved in June from its former 3,700-square-foot office in the Hale Pawaa building on South Beretania Street.<\p>
CanoeHouse names new executive chef
Rhoda Magbitang is the new executive chef of the famed Hawaii Island restaurant, CanoeHouse, located at the Mauna Lani, Auberge Resorts Collection, the resort announced Wednesday.<\p> The appointment is effective starting Thursday.<\p>
How one entrepreneur is ‘bringing people together’
A few years ago, in her earliest days as an entrepreneur, Michelle Carmack quickly realized how hard running your own business can be.<\p> “I found within the first year how lonely, how isolating, how confusing it was,” she recalled. “I thought to myself, there must be other people out there who were experiencing the same thing.”<\p>
Don't give up on paper checks before considering all the consequences
Target Corp. stopped accepting personal checks for customer purchases earlier this month, joining the ranks of big businesses that have ditched the old-school payment method.<\p> It's a lineup that includes the likes of Whole Foods, Aldi and Old Navy, all of whom have canceled checks as a payment option. At the same time, digital payments through the likes of Venmo, Cash App, and other card- and phone-based systems have skyrocketed.<\p>
Luxury home prices hit a new high
The U.S. luxury housing segment has bucked some of the trends affecting the rest of the residential real estate market, in large part because those buyers and sellers are less affected by affordability issues.<\p> But like the broader housing market, luxury homes continue to see a surge in prices. In fact, luxury home prices hit a new high in the second quarter of this year, with a typical home in the category selling for $1.18 million, an 8.8% increase from the same quarter last year, according to Redfin Corp. data.<\p>
Hawaii Gas seeks to increase rates by 17.7%
For the first time in seven years, Hawaii Gas has gone before the Hawaii Public Utilities Commission to request a rate increase, the energy provider announced on Friday, July 26.<\p> According to Hawaii Gas President and CEO Alicia Moy, while the utility has been working to keep necessary rate increases to a "modest level," the rate adjustment is needed due to the impacts of inflation resulting in higher operational costs in the past seven years. <\p>
Ward Village continues to see 'strong sales'
Ward Village sustained strong sales during the second quarter of 2024 amid continuing development.<\p> “In Strategic Developments, demand for our upscale condominium projects in Ward Village and The Woodlands [in Texas] was robust, with 94 residences pre-sold in the quarter," Howard Hughes CEO David O’Reilly said in the company's second-quarter earnings report. "Much of this demand was experienced at The Launiu, where 66 units were contracted in the second quarter, making this project more than 50% pre-sold. Also, with a $420 million construction loan secured during the quarter, we commenced construction on Kalae — our 10th condo project in Ward Village — which is already 92% pre-sold with contracts representing future revenues of $761 million."<\p>
Footwear brand expands to Hawaii Island
OluKai recently opened its first location on Hawaii Island at Queens' Marketplace in Waikoloa. This is the brand's seventh store in the state. <\p> The 1,274-square-foot store opened June 22. OluKai already has stores in Chinatown as well as at the Hilton Hawaiian Village and Sheraton Waikiki on Oahu; in The Shops at Wailea and Whaler's Village on Maui; and at Kukuiula on Kauai. <\p>
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