Central Pacific Bank, which for more than a year has been seeking to find a new site for its Kailua branch, has decided to proceed with plans to move to the former location of Arby’s restaurant at 6 Hoolai St.

The state’s fourth-largest bank, which has 36 branches statewide, plans to demolish the existing two-story building that previously housed the restaurant. The site would offer better parking and accessibility than its current Kailua branch at 419 Kuulei Road.

HECO proposal would cut EV charging rates

The Hawaiian Electric Cos. announced the utilities are looking to discount electric vehicle charging rates in a new time-of-use program.

HECO said Monday the utility proposed the change to the Public Utilities Commission. The proposal has only two time-of-use schedules over 24 hours instead of the three schedules HECO currently offers. Charging an EV at home using electricity from the grid will be most expensive from 3 to 9 p.m., during peak electricity demand. All other times of the day will be less expensive.

A typical residential customer on Oahu will save 6.1 cents per kilowatt-hour by charging during off-peak hours. A typical residential customer will save 9.2 cents on Hawaii island, 7.3 cents on Maui, 7.1 cents on Lanai and 9.4 cents on Molokai.

“The new rates aim to promote plug-in electric vehicle use by offering simpler terms and sign-up procedures compared to the existing EV discount charging pilot, and to foster more use of excess electricity generated by rooftop solar systems during the middle of the day,” HECO said in a news release Monday.

HECO asked the PUC to approve this proposal by the end of September, when the present pilot ends. The companies proposed the new program last until June 30, 2020.

“The proposed new rates will help make greater use of that solar electricity and accelerate EV adoption in Hawaii,” said Jim Alberts, Hawaiian Electric senior vice president for customer service.

In addition, HECO announced Monday the utilities are installing up to 25 DC fast chargers across Oahu, Maui County and Hawaii island.

Big CPF investors sell remaining stakes

ACMO-CPF LLC and Carlyle Financial Services Harbor LP, the two primary investors in Central Pacific Financial Corp.’s $345 million recapitalization in 2011, have sold their remaining 8.8 percent stakes that they each held in the bank holding company. The sales were to Citigroup and UBS Investment Bank. The offering of a combined 5.5 million shares will close Friday.

First Hawaiian gives $25K for typhoon relief

First Hawaiian Bank has contributed of $25,000 to the American Red Cross of the Commonwealth of the Northern Mariana Islands to support Typhoon Soudelor relief efforts in Saipan.

“We were very concerned for the welfare of everyone affected by this storm, which has caused far more damage than initially anticipated,” First Hawaiian Chairman and CEO Bob Harrison said. “This donation will get critically needed support to Saipan residents as quickly as possible.”

First Hawaiian customers affected by the storm are encouraged to call 800-403-7167 for assistance with loans and credit card payments.

First Hawaiian operates 57 branches in Hawaii, three on Guam and two in the Northern Mariana Islands.

CVS net rises without tobacco support

Pricey specialty drugs helped CVS Health cope with tobacco withdrawal and top analyst expectations in the second quarter.

But the nation’s second-largest drugstore chain, which owns Longs Drugs, also narrowed its full-year earnings outlook and issued a third-quarter forecast that fell short of Wall Street’s expectations.

The Woonsocket, R.I.-based company said that revenue from its biggest business, its pharmacy benefits management segment, jumped 12 percent in the second quarter to more than $24 billion, spurred in part by specialty drugs.

ON THE MOVE

Kaiser Permanente has announced the following new care providers:

>> Marc Albertson, PA-C, has joined the urology department at Moanalua Medical Center. He completed rotations in orthopedic and cardiothoracic surgery at Samuel Merritt University in Oakland, Calif.

>> Dr. Mehtap Berkmen has joined the endocrinology department at the Wailuku Medical Office. She previously completed a fellowship in diabetes, endocrinology and metabolism at the University of Miami Miller School of Medicine/Jackson Memorial Medical Center in Miami.

>> Dr. Stephenie Fleegle will practice geriatric medicine at the Honolulu Medical Office. She was previously serving as a locum tenens family medicine physician at Kaiser’s Hilo Clinic.

>> Alissa Hino, PA-C, has joined the same-day care department at the Waipio Medical Office. She was previously working at Dean Ba Ngo, MD, Inc., in Westminster, Calif., an internal medicine, geriatric and family medicine private practice.

>> Dr. Keri Lemmond, a board-certified psychiatrist, will continue to serve as a locum tenens physician at Kaiser’s behavioral health services clinic in Wailuku and will also join the behavioral health services department at the Kona Medical Office. She completed her psychiatric residency at Warren Alpert Medical School of Brown University in Providence, R.I.

>> Elmer Parwani, PA-C, will practice at the Waipio Medical Office in the same-day care department. He previously served as a post-deployment health reassessment provider with the U.S. Air Force, working at Kadena Air Base in Okinawa, Japan.