Rates that will cause Hawaii island residents’ electrical bills to rise nearly $5 a month went into effect Thursday.

Earlier this month the state Public Utilities Commission issued an interim approval of Hawaii Electric Light Co.’s request to increase rates by $9.94 million, or 3.4 percent. The approved rates will cause a typical monthly bill for residential customers using 500 kilowatt-hours to rise $4.98 to roughly $167.56. The average monthly residential bill over the past 12 months has been $162.58.

The interim decision is one step in the rate-making process. The PUC still needs to issue a final decision on the rates, which PUC Chairman Randy Iwase said he hopes to have before the end of the year.

The PUC could rule differently in the final decision. If the PUC approves lower rates than the interim decision, HELCO must refund customers the difference with interest. If a higher amount is approved, the increase will be applied only from the time it is approved, not retroactively.

Apple expected to unveil next iPhones

SAN FRANCISCO >> Apple’s faithful fans and investors won’t have to wait much longer to see what the iPhone maker has in store next.

The company sent out invitations Thursday to set Sept. 12 as the date for an annual post-Labor Day showcase.

As usual, the famously secretive Apple didn’t say what’s on tap, but this is typically when the company unveils new iPhones.

Much of the anticipation is swirling around whether Apple will show off a dramatically different type of iPhone with a sleeker and even bigger screen to celebrate the device’s 10th anniversary. Even if a fancier version is unveiled, Apple also will likely announce upgrades to last year’s iPhone 7 and iPhone 7 Plus.

It’s Apple’s first event at the Steve Jobs Theater at its new headquarters in Cupertino, Calif.

Apple’s invitation seemed to hint that something colorful is in store as it presented a multihued depiction of the company’s famous logo. That choice will likely spur speculation that Apple’s new phone will feature a screen with organic light-emitting diode, or OLED, which will display more vivid colors than previous models. Rival phones from Samsung already use OLED.

ON THE MOVE

>> Destination Hotels has named Troy Richardson director of sales and marketing for Destination Residences Hawaii. He returns to Maui after leading Opus Group International in California for four years. He also was director of incentive sales at Hilton Waikoloa Village and national sales manager at The Ritz Carlton Kapalua.

>> Central Pacific Bank has named Wei Li to vice president and manager of internal controls. His 12 years of financial industry experience include being vice president of tax operation at Goldman Sachs.

>> Alexander & Baldwin has named Kevin Nishioka vice president, tax, effective Aug. 28. Nishioka previously was a partner at PriceWaterhouseCoopers with 20 years’ experience in tax compliance, planning and transaction assistance services.