Central Pacific Bank said Thursday its loan activity is still performing well despite a nationwide housing slowdown because of the company’s joint ventures with developers and real estate brokerages.
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In what could be a local adaptation of a Horatio Alger novel, Central Pacific Financial Corp. on Thursday named Arnold Martines — who grew up in the tiny Big Island town of Paauilo — to be the next chief executive officer of the state’s fourth-largest bank.
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Hawaii’s unemployment rate plunged in September to 3.5%, its lowest level since before the pandemic, as the state grew its nonagricultural payroll ranks by 2,700 from the previous month.
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Paul Yonamine will retire at the end of the year and remain as chairman emeritus.
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Matson Inc. said a 15.1% drop in demand from its China service and easing port congestion in Southern California led to an expected decline in net income in the third quarter, according to preliminary results that the company issued Monday.
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There was a lull in statewide bankruptcy filings in September as the number of cases declined 10.5% to its lowest level in four months.
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Hawaii auto dealers and consumers have been forced to change gears amid a global microchip shortage that has transformed the vehicle shopping experience.
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High inflation and rising interest rates could be putting the squeeze now on Hawaii consumers’ finances.
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Oahu’s housing market continued its yearlong slowdown in August as sales declined by about a quarter for the second straight month, bidding wars subsided and the median price for condominiums dipped 0.3% to fall below $500,000 for the first time in six months.
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Hawaiian Telcom expanded its fiber-optic infrastructure to more than 22,000 homes and businesses during the first half of this year and said Wednesday it is on target to achieve its goal of enabling a total of 50,000 homes by year-end.
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In a fiscal year fraught with geopolitical unrest, supply-chain issues, rising inflation and a bearish stock market, the state’s largest public pension fund capitalized on its risk-averse strategy to finish in positive territory.
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Cars and light trucks continued to move off Hawaii dealers’ lots at a snail’s pace during the first half of the year amid tight supplies that have prompted consumers to postpone making purchases.
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Barnwell Industries Inc. said its strong liquidity has positioned the company to declare its first quarterly dividend in nearly 14 years.
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Maui Land & Pineapple Co.’s net income jumped fivefold in the second quarter after it completed two land sales that brought in $11.6 million.
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Hawaii island microalgae products producer Cyanotech Corp. reported Wednesday that it swung to a $472,000 loss in its fiscal first quarter as sales plunged 25.1%.
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Hawaiian Electric Industries Inc. posted a 17.7% drop in second-quarter earnings as utility maintenance expenses increased and subsidiary American Savings Bank set aside money for potential loan losses after releasing a significant amount from its loan-loss reserve in the year- earlier period.
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Revenue, however, jumped 31.7% to $895.6 million from $680.3 million.
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Oahu’s housing market continued to cool as sales of single-family homes and condominiums fell by nearly a quarter in July.
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The dormant tourism market of Japan is starting to come back to life in Hawaii.
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Statewide bankruptcies declined in July for the 15th straight month as Hawaii’s economy continued showing signs it is getting healthier.
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Hawaii island microalgae products producer Cyanotech Corp. swung to a fiscal fourth-quarter profit and appointed a new CEO after Gerald Cysewski, 73, stepped down from his position, effective June 16, after a profitable year.
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