Maui home sales, prices rose in 2013

Maui’s housing market in 2013 logged a second consecutive year of price appreciation and increased sales volume, according to data released Friday by the Realtors Association of Maui. The biggest gain occurred in the median sale price for single-family houses, which rose 12.8 percent to $530,000 last year from $470,000 the year before.

Unlike Oahu’s housing market that set a new annual median price record last year at $650,000, Maui’s median home price record remains at $690,000 set in 2006.

Maui’s median condominium sale price rose 4.6 percent to $374,500 last year from $358,000 the year before. The record was $550,000 in 2007.

Sales volume rose for both single-family houses and condos. There were 980 sales of single-family houses last year, up 4.5 percent from 938 the year before. Condo sales rose 6.5 percent to 1,334 from 1,253.

Kakaako developer forms charitable group

The Dallas-based development firm transforming the Ward Centers retail complex in Kakaako into an urban village dominated by up to 22 condominium towers has formed a charitable foundation to give back to the local community. Howard Hughes Corp. announced the formation of Ward Village Foundation and said it is committing an initial $1 million to support the local community over the next two years. A ceremony is scheduled for Monday, during which an initial gift will be presented to Kupu, a nonprofit largely focused on youth job training.

Hughes Corp. said the foundation will fund causes with a focus on culture, community and the environment.

Maui signs pact to recycle 85% of waste

Maui County Mayor Alan Arakawa signed an agreement Friday with a California-based company to develop a resource recovery facility that will divert about 85 percent of the municipal solid waste currently dumped in the Central Maui Landfill. The Maui Resource Recovery Facility will include a "recyclable materials recovery facility" to separate recyclable materials such as metals, glass, plastic, cardboard and paper. The waste then will be further separated into digestible organic material and residual matter, according to a news release from the county.

The organic material will go to a closed anaerobic digester that will produce renewable natural gas and other marketable commodities. The residual matter will be processed into a solid fuel that can be burned to generate electricity.

California-based Anaergia Services is developer of the Maui Resource Recovery Facility, which is expected to be operational in 2017.

Ad industry awards entry deadline nears

Outstanding advertising work in 2013 may now be entered into the annual Pele Award competition staged by the American Advertising Federation — District 13 (Hawaii).

The call for entries invites submissions of advertising and design work created in Hawaii during the 2013 calendar year. Awards are presented in 18 category groups, including advertising and design work for print, radio and television, interactive media, public service, consumer product packaging and more. The first online entry deadline is 11:59 p.m. Tuesday; enter before that time to receive a discount on entry fees. The final online entry deadline is 11:59 p.m. Feb. 4.

The envelope entry deadline, with entries to be turned in at Electric Pencil at 501 Sumner St. Suite 3B1, is noon Feb. 7.

The Pele Awards will be presented April 26 at the Royal Hawaiian Hotel. Pele-level awards automatically will be entered in the national American Advertising Federation’s ADDY awards competition.

Vans opening first neighbor island store

Vans shoe store is opening its first neighbor island location at the Queen Kaahumanu Center in late summer.

The retailer describes itself as an "action sports footwear company" for the youth market and also sells apparel and accessories at Ala Moana Center, Pearlridge Center and Waikele Premium Outlets.

Nevada’s biggest casinos lost $1.35B in 2013

CARSON CITY, Nev. » Nevada’s largest casinos, still climbing out of the recession, suffered a combined net loss of $1.35 billion in 2013, marking the fifth straight year without an overall profit, state regulators reported Friday.

But there was some positive news in the annual abstract report released by the Nevada Gaming Control Board, which looks at the total revenue of casinos that gross more than $1 million in gambling revenue. The total revenue of the 263 casinos included in this year’s report rose for the third consecutive year, up 0.4 percent to $23 billion.

Former Bank of Israel head tapped for Fed

WASHINGTON » President Barack Obama took a step Friday toward reshaping the Federal Reserve under incoming Chairwoman Janet Yellen, choosing a leading expert on the global economy to be her vice chairman.

Obama said he will nominate Stanley Fischer, a former head of the Bank of Israel, for the No. 2 job at the Fed.

Fischer, a dual citizen of the United States and Israel, was a longtime professor at the Massachusetts Institute of Technology. Departing Fed Chairman Ben Bernanke and Mario Draghi, the current head of the European Central Bank, were among his students.

ON THE MOVE

The Hawai‘i Symphony Orchestra has announced that John Sutton has been named director of finance. He previously served as a chief financial officer at Atlas Sales Co. in Kapo­lei, executive vice president and chief financial officer as well as a partner and chief operating officer at Starr Seigle Communications, and president of Elyte Pacific ATM Services.

PMKC has hired the following associate attorneys:

» Jennifer M. Porter was previously a biology and physics teacher at Sacred Hearts Academy before changing her career to law and receiving her Juris Doctor from William S. Richardson School of Law, University of Hawaii, in May.

» Kelly K. Westmoreland was previously a deputy prosecuting attorney with the City and County of Hono­lulu before being hired at PMKC.

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