Japanese economy lags

TOKYO >> Japan’s economy grew a slower-than-expected 2.6 percent last quarter as companies wary over the prospects for a sustained recovery kept a tight rein on investment.

On a quarter-to-quarter basis, the world’s third-largest economy grew 0.6 percent in April-June from the previous quarter, the Cabinet Office said Monday.
 

Maui home sales up, prices mixed

Maui’s housing market produced a surge in sales last month, but median prices were mixed, according to data from the Realtors Association of Maui.

The biggest increase was in the number of condominium sales, which jumped 32 percent to 108 in July from 82 in the same month last year. The median price for those sales rose 11.5 percent to $370,000 from $332,000.

For single-family houses there were 93 sales last month, a 22 percent gain over 76 sales a year earlier. The median price slipped 3 percent to $475,000 from $488,000.

The Realtors Association of Maui, which counts sales of new and existing homes, released the data Saturday.

Cyanotech net falls despite higher revenue

Cyanotech Corp.’s net income declined in the April-through-June quarter as a higher tax rate and an increase in expenses more than offset stronger sales of the company’s microalgae products, the company announced Monday

Cyanotech earned $30,000, or 1 cent a share, in the quarter, down from $493,000, or 8 cents a share, in the year-earlier quarter. An increase in the company’s effective tax rate resulted in pretax income dropping to $136,000 in the most recent quarter from $503,000 in the same period a year earlier.

The company increased its sales of spirulina and astaxanthin to $6.91 million in the quarter, up 6 percent from $6.51 million a year earlier. The biggest gains came in Cyanotech’s consumer products business, which grew by 44 percent.

Cyanotech has been pursuing a strategy to sell more of its algae products at the retail level to consumers as nutritional supplements rather than to the bulk wholesale market.

Cyanotech shares closed down 19 cents at $5.83 on the Nasdaq Capital Market.

Waikiki Health receives $30,000 grant

Waikiki Health has won a $30,000 grant from the G.N. Wilcox Trust to provide primary care for uninsured and underserved patients.

The grant also will support patients who will receive services at the agency’s newest facility, the Maka­hiki Medical and Dental Clinic in McCully-Moiliili, opening in early 2014.

In 2012 the organization (formerly the Waikiki Health Center) served 9,315 patients, 72 percent of whom were poor and 41 percent of whom were homeless. By comparison, the agency saw 5,733 patients in 2010.

Waikiki Health’s primary care clinics and outreach programs include the Ohua Clinic in Waikiki; the PATH Clinic in Kaimuki; Next Step Shelter, an emergency homeless shelter in Kakaako; Care-A-Van in Kaimuki; Youth Outreach in Waikiki; medically equipped vehicles; and Friendly Neighbors, offering assistance to older seniors.

The agency’s mission is to provide quality medical and social services that are accessible and affordable, regardless of ability to pay. For more information, go to www.waikikihealth.org.

Hawaii News Now back on DISH Network

The blackout of Hawaii News Now for DISH Network subscribers has been resolved with an agreement over retransmission consent terms between Ala­bama-based Raycom and Colo­rado-based DISH.

The two parent companies announced they had come to terms on a new agreement for DISH to carry Raycom programming late Friday and did not disclose the terms, but Raycom programming was restored to DISH customers in the 36 previously blacked-out markets.

DISH customers lost Hawaii News Now programming at 7:55 p.m. July 31. Raycom-owned or operated stations in Hawaii include KGMB-TV, KHNL-TV and KFVE-TV.

Meanwhile, the dispute between CBS Corp. and Time Warner Cable continues, blacking out CBS network programming in dozens of Time Warner Cable markets. Programming from CBS-owned cable networks including Showtime, The Movie Channel, Flix and the Smithsonian Channel also is blacked out in markets including Hawaii.

ON THE MOVE

Sheraton Kona Resort & Spa at Keauhou Bay on Hawaii island has announced the following promotions: 

» Matthew Grauso to general manager. He has more than 15 years of hospitality experience and was previously a hotel manager at the Sheraton Waikiki.

» Revell Newton to hotel manager at the oceanfront resort. For 20 years he has served as a leader on sales and marketing teams at top hotels and resorts in Hawaii.

The Kona Historical Society has announced:

» Joy Holland is now executive director. She was previously a preservation archivist in special collections for Hamilton Library at the University of Hawaii at Manoa.

» Jill Olson has retired after serving as executive director for 38 years.