Gourmet hospitality Kathleen Lin-Hurtubise seeks to elevate service for Hawaii SOCIAL CAPITAL, 47
NEW ROUTE FOR
HAWAIIAN ELECTRIC CO. Its acquisition by NextEra Energy is off the table, but HECO still faces a renewables mandate and other challenges BY DUANE SHIMOGAWA, PAGES 12-14
HOW I ...
MADE OFFICE FURNITURE COOL 35
MONEY
ENERGY
How bank execs’ pay stacks up
Tesoro brand to hele on
A filing with regulators reveals for the first time what First Hawaiian Bank pays its top executives.
The new owner of Hawaii’s 97 Tesoro retail gas stations plans to rebrand about 40 percent of them with a new name.
KATHLEEN GALLAGHER, 4
DUANE SHIMOGAWA, 6
REAL ESTATE FIRMS, RESIDENTIAL
29,30
SPECIAL REPORT:
Residential Real Estate Roundtable Feature PBN gathered eight local real estate experts to talk about the market. Read what they had to say. PBN STAFF, 17
Tiny homes big affordability
More from The List
The tiny house craze on the Mainland that has inspired TV shows has made its way to Hawaii.
Find out the some of the strangest things homeowners have left behind.
NATANYA FRIEDHEIM, 25
LUCY TUITUPOU, 33
PACIFIC BUSINESS NEWS July 22, 2016 Vol. 54, No. 22, $2.75 737 Bishop St. Suite 1590 Honolulu, HI 96813
news online r Breaking PacificBusinessNews.com On smartphones and tablets PacificBusinessNews.com/apps email updates PacificBusinessNews.com/email L Daily
2
PACIFIC BUSINESS NEWS
READERS GUIDE R PEOPLE
IN THE ISSUE
ABC
Brandt, Myra .............. 17 Brewbaker, Paul.......... 14 Caldwell, Kirk............. 46 Camp, Christine.......... 11 Carlisle, Peter............. 46 Case, Steve................. 11 Chen, Cliff.................. 12 Cline, Fannie .............. 17
DEF
Dean, John................... 4 DeMello, Non................ 7 Djou, Charles.............. 46 Erdman, Dave............. 11
GHI
Hamano, Wayne............ 4 Harris, John................ 17 Harrison, Robert........... 4 Hernandez-Soria, Michael ................................. 46 Higashi, Scott............. 17 Ho, Peter...................... 4
JKL
Jenkins, Tyrie............. 11 Kajioka, Chris.............. 47 Kerr, James................. 11 Kim, Kalama .........17, 26 Lee, Chris................... 12 Lee, Eric....................... 6 Lee, Gabe................... 11
R COMPANIES ABC
Ala Moana Building....... 3 Ala Moana Center.....3, 47 Ala Moana Pacific Center.3 Ala Moana Plaza............ 3 American Savings Bank... ............................11, 12 Avalon Group.............. 11 Bank of Hawaii.........4, 47 Blue Planet Foundation.12 CBRE Hawaii................. 3 Central Pacific Bank...... 4 Century 21 All Islands. 17 Cinnamon’s.................. 7 Coldwell Banker Pacific Properies.................... 17
DEF
Elite Pacific Properties.17 Extra Space Storage...... 3 First Hawaiian Bank....... 4
GHI
Goodsill Anderson Quinn & Stifel.......................... 47 Gourmet Events Hawaii.47 Hawaii Bankers Association................. 14 Hawaii Life Real Estate Brokers...................... 17 Hawaii Public Utilities Commission................ 46 Hawaii State Judiciary. 26 Hawaiian Cool Water... 46 Hawaiian Electric Co.. 12, 46 Hawaiian Electric Industries..............12, 46 Honolulu Board of
R COMING
Lin-Hurtubise, Kathleen.47 Lucien, Kent................. 4 Lynch, Michelle........... 26
R CONTACT
UP
PACIFICBUSINESSNEWS.COM
PACIFIC BUSINESS NEWS STAFF PUBLISHER: Tammy Mencel 808-955-8052, tmencel@bizjournals.com
MNO
Mayer, Paul................. 17 Miyama, Kevin............ 17 Mizumoto, Lance.......... 4 Morimoto, David........... 4 Ngo, Catherine.............. 4 Ono, Jeffrey............... 12 Ono, Raymond.............. 4
EDITOR-IN-CHIEF: A. Kam Napier 808-955-8030, knapier@bizjournals.com MANAGING EDITOR: Janis Magin 808-955-8041, jmagin@bizjournals.com WEB EDITOR: James Prichard 808-955-8033, jprichard@bizjournals.com
PQR
Patel, Savan............... 35 Pei, Ed....................... 14
STU
Sakamoto, Dean.......... 46 Skop, Nathan.............. 12 Swift, Scott H............... 4
VWXYZ
Wacker, Rich............... 14 Wakai, Glenn.............. 46 Waldhaus, Kari............ 46 Wallsgrove, Richard.... 12 Warren, Keola............... 7 Warren, Moses “Moke”.. 7 Wright, James............ 17 Yamada, Albert............. 4 Yamashiro, Roy........... 47 Yates, Jim................ 6,12
IN THE ISSUE Realtors................17, 26 Infinium Interiors........ 35
JKL
Jenkins Eye Care......... 11 JN Group.................... 35 Kamuela UPS Store..... 46 Keller Williams Honolulu. ................................. 17 Kirin Beverages Co. Ltd..7 Lanikai Juice................. 7 LIPT East Kaahumanu Avenue LLC................... 3 List Sotheby’s International Realty.... 17 Locations LLC........17, 26
US
CREATIVE DIRECTOR: Bethany Bickley 808-955-8090, bbickley@bizjournals.com
DIGITAL AND SOCIAL MEDIA
PHOTOGRAPHER: Tina Yuen 808-955-8054, tyuen@bizjournals.com
RR Twitter: Follow us @pacificbiznews RR Find us on: Facebook, LinkedIn and Google+
REPORTERS:
RR Morning Edition: An email digest of top stories from local, regional and national sources.
Duane Shimogawa 808-955-8036, dshimogawa@bizjournals.com
RR Afternoon Edition: Afternoon roundup of the day’s stories.
Kathleen Gallagher 808-955-8046, kgallagher@bizjournals.com
RR Digital Edition: Print subscribers can access a digital replica of the weekly print edition.
REPORTING INTERN: Natanya Friedheim 808-955-8042, nfriedheim@bizjournals.com
ADVERTISE For advertising information, rates, editorial calendar and production specifications call 808-955-8050.
July 29
SUBSCRIBE
RRMost Active Hawaii Based Foundations
Subscribe, make changes to your subscription or get help accessing the digital edition by calling 808-9558040 or go to PacificBusinessNews.com/subscribe.
RRCredit Unions
REPRINTS
Want to be on The List? Email Lucy Tuitupou at ltuitupou@ bizjournals.com to request a survey.
Capitalize on positive news and grow your business. Get the word out with reprints, e-prints and commemorative plaques. Call 877-397-5134 or go to bit.ly/reprintservices, the only authorized provider of reprint products.
MNO
Maui Mall..................... 3 Moke’s Bread and Breakfast...................... 7 MVNP........................... 6 NextEra Energy Inc..... 12 OmniTrak Group........... 6
PUBLIC RECORDS REPORTER: Roger Vistart 808-955-8100, rvistart@bizjournals.com RESEARCHER – THE LIST: Lucy Tuitupou 808-955-8037, ltuitupou@bizjournals.com CONTRIBUTING EDITOR: James George 808-386-8847, jamesrgeorge@hawaii.rr.com EVENTS DIRECTOR: Emily Pellin 808-955-8003, ltuitupou@bizjournals.com ADVERTISING DIRECTOR: Scott Kato 808-955-8048, skato@bizjournals.com ADVERTISING MANAGER: Michelle Stofle 808-955-8053, mstofle@bizjournals.com ACCOUNT EXECUTIVES:
Christine Diaz 808-955-8058, cdiaz@bizjournals.com Casey Q. Fitchett 808-955-8057, cfitchett@bizjournals.com GRAPHIC DESIGNER: Jeff Patingan 808-955-8081, jpatingan@bizjournals.com CLIENT SERVICES EXECUTIVE:
Jacie Tomiyoshi 808-955-8050, jtomiyoshi@bizjournals.com AUDIENCE DEVELOPMENT DIRECTOR:
PQR
PacRim Marketing Group. ................................. 11 Par Hawaii Inc..........6, 12 Par Pacific Holdings Inc..6 PBS Hawaii................. 46 PRTech....................... 11 Re/Max Honolulu........ 17 Roi Printing.................. 6
STU
Sanrio Co...................... 7 SuperGeeks................ 11 U.S. Pacific Fleet........... 4
Rose Balagtas, 808-955-8072, rbalagtas@bizjournals.com
AUDIENCE DEVELOPMENT ACCOUNT EXECUTIVE: Morris Thorpe
808-955-8066, mthorpe@bizjournals.com AUDIENCE DEVELOPMENT ADMINISTRATOR:
Stacie Pahia 808-955-8040, spahia@bizjournals.com BUSINESS MANAGER: Preet Nijjar 808-955-8029, pnijjar@bizjournals.com GENERAL CONTACT INFORMATION
737 Bishop St., Suite 1590 Honolulu, Hawaii 96813 808-955-8100, 808-955-8078 (fax)
LETTERS TO THE EDITOR Pacific Business News welcomes letters from readers. We reserve the right to edit for space and/or clarity. All letters must be typewritten or emailed and include the writer’s name, address and phone number. Mail to: Pacific Business News, 737 Bishop St., Suite 1590, Honolulu, HI 96813. Send via the Pacific Business News website at PacificBusinessNews.com. Submissions become the property of PBN and may not be published or used in any other medium.
Pacific Business News is a publication of: American City Business Journals, 120 W. Morehead St., Charlotte, N.C. 28202 Whitney Shaw, CEO; Ray Shaw, Chairman (1989-2009)
PACIFIC BUSINESS NEWS (ISSN 0030-8552) is published weekly except one extra issue in December by Pacific Business News, Pacific Guardian Center, 737 Bishop St. Suite 1590, Honolulu, Hawaii 96813. SUBSCRIPTIONS: Hawaii and 2nd class Mainland rates are $100.00 for one year (52 issues), $250.00 for three years (156 issues). Foreign and 1st class Mainland rates on request. Single copy $2.75 for weekly issues; special annual issue is $49.95. POSTMASTER: Send address changes to Pacific Business News, 737 Bishop St. Suite 1590, Honolulu, Hawaii 96813, or call 808-955-8100. Periodicals postage paid at Honolulu and additional mailing offices. MEMBER: Alliance for Audited Media and Hawaii Publishers Association. ©2016 Pacific Business News
FICO-31540_PBN_4-5x6-125_final_composite.indd 1
7/15/16 11:36 AM
3
JULY 22, 2016
NEWS REAL ESTATE
Foreign investments on record track BY DUANE SHIMOGAWA dshimogawa@bizjournals.com
R CLOSER
LOOK
808-955-8036, @PBNDuane
Hawaii is seeing record levels of foreign investments in commercial real estate properties, a total $4.2 billion in the past 36 months, according to a new report. The $4.2 billion is a whopping 1,077 percent increase from the $352.7 million total recorded in the past seven years combined, the CBRE Hawaii report said. Thus far this year, there has been $844.5 million in foreign investments in Hawaii, a strong sign that there’s still much interest in the market. CBRE noted that, historically, offshore investors preferred to buy commercial properties in gateway cities such as New York, Los Angeles and San Francisco, but investment activity is also making its way into smaller markets, including Hawaii, as investors look to further diversify
THE PAST 10 YEARS OF FOREIGN INVESTMENTS 1.1% DEVELOPMENT SITE 29.8% RETAIL 9.1% OFFICE 59.3% HOTELS
0.7% OTHER
CBRE
their portfolios. “The composition of foreign capital sources entering the state attests to the explosion of wealth in Asia,” the report said. “Over 70 percent of the cross-border capital placement during the past 10 years has been from Asian investors while 99 percent has been from Asia-Pacific countries. “The two largest contributing
countries have been Japan and Australia and while Japan has always been the largest source of cross-border capital investment in Hawaii, the recent growth from Australia can be largely attributed to one major purchase from AustralianSuper,” the report said. The AustralianSuper fund last year bought a 25 percent ownership stake from General Growth Proper-
ties Inc. for its Ala Moana portfolio, which includes the Ala Moana Building, Ala Moana Center, Ala Moana Pacific Center and the Ala Moana Plaza, for about $1.4 billion. For the second quarter, investments totaled $605.8 million in Hawaii, with the market currently on pace to end the year with a total of between $1.2 billion and $2 billion in investments, which would become the second straight year of a decline. The report pointed out that sales of industrial and other commercial properties accounted for more than 80 percent of the total transaction volume, with the largest transaction being the $86.4 million sale of the Maui Mall to LIPT East Kaahumanu Avenue LLC. The largest industrial sale during the first half of the year was the $29 million acquisition of Diamond Head Self Storage in Mapunapuna by Utah-based self-storage company Extra Space Storage.
Welcome Home! Hawaiiana Management Company congratulates the new homeowners at Kahiku at Mehana, Kahiwelo, Kapiwai, Kawena at Mehana, Manawa at Mehana, Olino at Mehana and Symphony Honolulu on the purchase of their new homes! Hawaiiana is proud to serve as your managing agent! Symphony Honolulu
Kahiku at Mehana Manawa at Mehana
Olino at Mehana
Kahiwelo
Kapiwai Kawena at Mehana
phyllisok@hmcmgt.com PH: (808) 593-6896 www.hmcmgt.com
4
PACIFIC BUSINESS NEWS
ON MONEY BY KATHLEEN GALLAGHER I KGALLAGHER@BIZJOURNALS.COM
Harrison
Yamada
808-955-8046
Ono
Ho
@PBNKATHLEEN
Lucien
WHO’S MAKING WHAT
A comparison of executive salaries for three of the biggest banks in the state
E
arlier this month, First Hawaiian Bank revealed for the first time what its top executives were paid in an S-1 filing with the U.S. Securities and Exchange Commission, in preparation for the bank’s initial public offering. But how do these compare to other salaries in the state? Our table below shows a comparison between First Hawaiian Bank and the state’s two largest publicly traded banks for total compensation in 2015.
NAME
BANK
POSITION
SALARY
TOTAL COMPENSATION
Robert Harrison
First Hawaiian Bank
Chairman and CEO
$800,000
$2,284,802
Albert Yamada
First Hawaiian Bank
Vice Chairman and Chief Administration Officer
$569,842
$1,605,973
Raymond Ono
First Hawaiian Bank
Vice Chairman and Chief Banking Officer
$521,444
$1,442,308
Peter Ho
Bank of Hawaii
Chairman and CEO
$776,077
$5,195,495
Kent Lucien
Bank of Hawaii
Vice Chairman and Chief Financial Officer
$433,776
$1,523,110
Wayne Hamano
Bank of Hawaii
Vice Chairman and Chief Commercial Officer
$355,170
$1,385,849
John Dean
Central Pacific Bank
Chairman
$265,625
$683,601
Catherine Ngo
Central Pacific Bank
President and CEO
$345,833
$1,096,110
Lance Mizumoto
Central Pacific Bank
President and Chief Banking Officer
$316,042
$854,694
David Morimoto
Central Pacific Bank
Executive Vice President, Chief Financial Officer and Treasurer
$210,208
$484,445
Hamano
R HE
Dean
Ngo
Mizumoto
Morimoto
SAID IT Twenty-six nations, 45 ships, five submarines, more than 200 aircraft and 25,000 personnel are participating in the biennial 25th Rim of the Pacific military exercises in and around the Hawaiian Islands and Southern California.
“This is what the international maritime community does in ensuring that the norms, standards, rules and laws that have provided the great stability and security, the foundation for prosperity, that we’ve all enjoyed for the last 70 years. They’re joined by a shared interest in maritime cooperation in the Pacific. We are all ‘locals’ during Rimpac – that’s regardless of geographic size, military might or economic strength.” NAVY ADM. SCOTT H. SWIFT, commander of the U.S. Pacific Fleet
5
JULY 22, 2016
Your products are carefully crafted. Our customers are carefully protected. You put your heart and soul into your business. At Liberty Mutual Insurance, we understand the time and attention it takes to be a successful business owner. For more than 100 years, we’ve worked hard to help protect businesses like yours. We’ll work with you and tailor our solutions to fit the specific needs of your business. You have a passion for your business. We have a passion for protecting it. To learn more, talk to your independent agent or broker today or visit libertymutualgroup.com/details. BUSINESS OWNER’S POLICY
|
COMMERCIAL AUTO
|
GENERAL LIABILITY
|
PROPERTY
|
WORKERS COMPENSATION
@LibertyB2B
© 2016 Liberty Mutual Insurance. Insurance underwritten by Liberty Mutual Insurance Co., Boston, MA, or its affiliates or subsidiaries.
6
PACIFIC BUSINESS NEWS
ON ENERGY BY DUANE SHIMOGAWA I DSHIMOGAWA@BIZJOURNALS.COM
808-955-8036
@PBNDUANE
DUANE SHIMOGAWA
Par Hawaii plans to hele on to new brand for retail stations Par Hawaii Inc.’s $4 million effort to rebrand its Tesoro-branded gas stations in Hawaii to a new brand called Hele — Hawaiian for “to go” — started more than a year ago, a company executive told Pacific Business News this week. PBN broke the news that Par Hawaii, a subsidiary of Houston-based Par Pacific Holdings Inc., which purchased Tesoro Corp.’s Hawaii operation nearly three years ago, is in the process of changing the names of many of its gas stations from 76 and Tesoro to Hele. Keith Yoshida, vice president of development for Par Hawaii, told PBN that Honolulu-based advertising agency MVNP helped the company throughout the entire process. “It started over a year ago with market research,” he said. “After we had landed on Hele, we started looking at various versions of the logo. It
R CLOSER
LOOK
PAR HAWAII RETAIL GAS STATIONS RR97 gas stations across the state, most are 76 branded RR37 to be rebranded to Hele RR60 remaining stations will keep the 76 name or be rebranded to 76. RRTesoro brand will disappear RRProject to be completed by end of September
A rendering of a Hele gas station. COURTESY KRAIDO
was nothing that I would have anticipated in the amount of time and detail it took to do this project. We looked at 80 different names.” Par Hawaii has contracted MVNP to launch its new brand with television commercials starting in mid-August that may also include a tag line. A new name for Par Hawaii’s convenience stores will be selected at some point as well.
Par Hawaii has 97 gas stations across the state, most of which are 76-branded stations. Eric Lee, vice president of retail for Par Hawaii, told PBN that of these 97 gas stations, 37 will be rebranded to Hele. The remaining 60 gas stations will keep the 76 name or be rebranded 76. The Tesoro brand will disappear. The conversion, which also
involved such companies as Glimma, Kraido, Roi Printing and OmniTrak Group, is scheduled to be completed by the end of September. “It’s going to be a fresh, new look that the community will love,” Jim Yates, president of Par Hawaii, told PBN. “We did have the option to continue on with the Tesoro brand. This allows us to control our own destiny.”
Success in law is about hiring the RIGHT PEOPLE.
At Carlsmith Ball, we seek individuals with a commitment to excellence and client service to grow with us. That’s why we’re pleased to introduce Michelle Chi Dickinson as an Associate in the firm’s Kona office. Prior to joining Carlsmith Ball, Michelle was general counsel for Kenquest, Inc., a real estate investment company. Her background also includes management level positions in the real estate, financial, and manufacturing industries.
HONOLULU
•
HILO
•
KONA
•
MAUI
•
LOS ANGELES
CARLSMITH.COM
7
JULY 22, 2016
NEWS
Cinnamon’s and Moke’s Bread and Breakfast have both expanded to Japan in the last three years.
Kailua brands go to Japan BY NATANYA FRIEDHEIM nfriedheim@bizjournals.com 808-955-8042
J
apanese tourists to Kailua can now get a taste of their vacation back home, as Kailua restaurants find a welcoming market in several Japanese cities. Two Kailua-based breakfast restaurants, Moke’s Bread and Breakfast and Cinnamon’s, have expanded to Japan in the last three years. Cinnamon’s opened a location in Tokyo in 2013 and one in Yokohama in 2014. In August 2013, a Moke’s Bread and Breakfast franchisee opened a location in Nakameguro, Tokyo. Kailua-based bakery Agnes Portuguese Bakeshop recently licensed its malasada recipe and name to a Japanese company. Less than two months ago, an Agnes Portuguese Bake Shop opened in Osaka. Like Agnes, Lanikai Juice chose to expand to Japan via a licensing contract rather than franchising. The Kailua-based smoothie and juice store partnered with Kirin Beverages Co. Ltd. of Japan to sell Gogono-Kocha Tea Smoothies — a mixture of Kirin tea and Lanikai Juice’s fresh juice — at select locations in Japan for a limited time. While expanding to Japan has its appeal, it can also be risky. In weighing his options between franchising and licensing recipes and logos, Agnes Portuguese Bake-
shop owner Non DeMello said, “My responsibilities are limited, my liabilities are limited. At the same time, I’m not making as much as I would if I opened the restaurant myself.” The family-owned breakfast restaurant Moke’s Bread and Breakfast’s expansion to Japan was the restaurant’s first outside of Kailua. They chose to franchise their restaurant concept to Sanrio Co., owners of the Hello Kitty logo. Western-style breakfast restaurants have gained popularity in Japan in the past few years. In the interest of bringing a Kailua breakfast establishment to Japan’s capital, Sanrio Co. approached the owners of Moke’s Bread and Breakfast with the proposal to franchise. The largest costs for Moke’s Bread and Breakfast were the legal fees required to create contracts and agreements, and register logos and trademarks internationally. This process cost the company between $30,000 and $40,000. After a lengthy legal process, Moke’s Bread and Breakfast set up a training regiment and quality control, and replicated its Kailua menu with a few minor changes. Sourcing ingredients to replicate the restaurant’s menu in Japan presented a challenge. “We use flour mix but they have different flour, and the dairy in Japan is different. It took months,” Keola Warren, Moke’s manager and
PBN FILE
son of owner Moses “Moke” Warren, said. “The ingredients there are amazing. The best part of going to Japan is everything is so fresh.” Other challenges included accommodating different cultural dining practices. “When you dine in a Western restaurant with four people, everyone gets their own plate, and everything comes out at the same time,” Warren explained. In Japan, family style is more common, so “there’s not as much pressure to get everything out at the same time,” which changes the way things run in the kitchen. Service styles are also different in Japan. Rather than using Western
dining practices, the Moke’s Bread and Breakfast in Tokyo adjusted to fit the Japanese dining culture. Even though Moke’s has a distinct identity as a Kailua establishment, the franchisee did not intend to open a Hawaii-themed restaurant. “Its not something where they have surfboards painted on the wall or flowers everywhere,” Warren said. “Our logo has the Mokulua [Islands], but outside of that, it’s not overtly Hawaiian. That was never one of the things they were trying to accomplish. It’s a very countrycottage feel, very grandma’s-kitchen style. It’s very subtle but very different than what they have in Japan.”
8
PACIFIC BUSINESS NEWS
BUSINESS LENS 1
2
3
4
5 PHOTOS BY TINA YUEN 1. Former Gov. George Ariyoshi speaks at the the Fishing Means Food coalition’s rally at Pier 38 to oppose the proposed expansion of the Papahanaumokuakea Marine National Monument. 2. John Kaneko, executive director of the Hawaii Seafood Council, speaks at the rally. 3. Office of Hawaiian Affairs Trustee Peter Apo speaks at the rally. 4. The rally drew members of the fishing and restaurant industries. 5. From left, Chef D.K. Kodama of DK Restaurants; Ian Riseley, chef instructor at Leeward Culinary Arts; Chef George Mavrothalassitis of Chef Mavro and Eric Leterc, executive chef at the Pacific Club. 6. Chef Nico Chaize, owner of Nico’s Pier 38. See the full slideshow at: bizj.us/1ndufa
6
9
JULY 22, 2016
BUSINESS LENS 1
PHOTOS BY TINA YUEN
2 3
4
See the full slideshow at: bizj.us/1ndux2
1. A view of the Ko Olina lagoons from an oceanfront suite at the new Four Seasons Resort Oahu at Ko Olina. 2. The porte cochere at the new Four Seasons Resort Oahu at Ko Olina. 3. A couples spa hale. 4. The bar area to the Fish House restaurant. 5. The Naupaka spa’s Himalayan salt chamber.
5
10
16-CPB-0561 PBN BOB Home Care.indd 7/18/16 9:57 AM - 1 -
PACIFIC BUSINESS NEWS
(Cyan) (Magenta) (Yellow) (BlacK)
NEWS State disciplines firms, individuals PBN STAFF
The following disciplinary actions were reported by the state Department of Commerce and Consumer Affairs for cases during June: BOARD OF PSYCHOLOGY R Erin C. Gustin (Hawaii Island) (PSY 2016-4-L), probation for one year, $100 fine, report any out-of-state disciplinary actions within 15 days; effective June 17 BOARD OF NURSING
Care Home Owner
“BOB does for my small business, what I can’t find anywhere else.” Business Online Banking • Set up access for multiple users • Automate collections and payments1 • Mobile access • Only from Central Pacific Bank BOB: Hawaii’s first small business online banking service designed to give small businesses big business tools. With multi-user logins, you control who has access to important banking duties. And, automating collections and payments,1 like collecting monthly fees, takes the headache out of tedious tasks.
PLUS, FOR A LIMITED TIME, GET: • $100 credit for new checks when you open a new checking account2 • $200 Visa® gift card when you enroll in Elavon Merchant Services3
R Tiana S. Dowty, R.N. (RNS 201613-L), $1,000 fine, comply with terms of Utah and California orders; effective June 2 BOARD OF NATUROPATHIC MEDICINE R Jacqueline Hahn, N.D. (Hawaii Island) (NAT 2016-1-L), $500 fine; effective June 15 HAWAII MEDICAL BOARD R David S. Kirby M.D. (MED 201675-L), probation, pay $500 in administrative costs; effective June 9 R Douglas W. Woolard, M.D. (MED 2014-8-L), voluntary surrender of license; effective June 9 BOARD OF ELECTRICIANS AND PLUMBERS R Ody B. Duldulao (Hawaii Island) (ENP 2015-21-L), $1,000 fine; effective June 14 R Ryan A. Thompson (Hawaii Island) (ENP 2015-14-L), $1,000 fine; effective June 14 BOARD OF BARBERING AND COSMETOLOGY R Valerie M. Cap (Hawaii Island) (BAR 2016-25-L), $500 fine; effective June 20 CONTRACTORS LICENSE BOARD R Dumore Construction & Remodeling, LLC and Steven R. Lequire (CLB 2014-24-L), pay $5,000 in restitution; effective June 24 R Marc Haine and Marc Haine, Inc., dba The Floor Store (CLB 2012-271L), $4,000 fine; effective June 24 R Randall V. Sirois , dba RVS Construction, LLC (Maui) (CLB 2013274-L, CLB 2013-475-L and CLB 2014-104-L), $1,000 fine ; effective June 24
808-544-0500 1-800-342-8422 centralpacificbank.com 1. Automated Clearing House (ACH) functionality is subject to approval. 2.Limited to business checking accounts opened between 07/11/16 and 09/30/16. Not combinable with existing CPB check order offers. 3.To qualify for $200 gift card, applications must be received by 09/30/16. Merchant accounts are subject to credit approval and require acceptance of merchant terms and conditions. Gift card will be awarded once the merchant account is activated and completes 60 days of payment activity. Limited to new Elavon merchant services customers only--one per business entity or related business. Gift card offer subject to change without notice and not combinable with any other Elavon offers.
R Hurst & Seibert Inc. and Lynn S. Hurst (CLB 2015-341-L ($12,000 fine), effective June 24
Copies of the decisions are available online at: cca.hawaii. gov/oah/oah_decisions/.
11
JULY 22, 2016
CONTRIBUTING EDITOR
Here’s what Hawaii business executives are reading and recommending Surf Amazon or stroll past the business books at Barnes & Noble, and you likely will emerge in a state of confusion. Jim You’ve just George seen catchy titles on nearly every business-related issue, but which are worthy of your time and money? You can’t believe everything you read, and many business books are no more than expanded TED talks written, as one reviewer said, by the “Department of Redundancy.” You’re more likely to find value in what some of your business peers are reading and recommending. With that thought in mind, I asked a cross section of Hawaii’s business leaders what they’re reading and what they would recommend to PBN readers. You’ll note that not all of the recommended books are “hot off the shelf.” One was written 25 years ago and several others date back a decade or more. That makes their advice timeless, not obsolete, in the eyes of our executives. Let’s begin with Gabe Lee, executive vice president of commercial markets at American Savings Bank and chairman of the Chamber of Commerce Hawaii board of directors. He’s currently reading “The Third Wave” by Hawaii native Steve Case, cofounder and former CEO of AOL. “Every management team needs to anticipate the next trend, or it will not be able to compete,” Lee says of Case’s message. “Taking calculated risk is needed to advance.” Christine Camp, president and CEO of the Avalon Group, a real estate development and brokerage firm, is reading “The Story Factor” by Annette Simmons. “It pitches storytelling as the modus operandi for business and personal success,” Camp says. “So often I am faced with the challenge of inspiring, influencing and persuading others in my role. Through stories that others can relate to we can find connections that allow for true understanding. Facts and data may be forgotten, but a story may touch the hearts and minds of people and can easily
be remembered.” Frequent traveler Dave Erdman currently has three books in his carry-on luggage or by his bedside. “The Power of Why: Breaking Out in a Competitive Marketplace” by C. Richard Weylman is about elevating business performance, says Erdman, president and CEO of PacRim Marketing Group Inc. and PRTech LLC, adding that he likes books that inspire him and give him ideas on how to innovate his business. “Blue Island Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant” by W. Chan Kim and Renee Mauborgne is about innovation and process and reaching beyond existing demand, Erdman says. “Start With Why: How Great Leaders Inspire Everyone to Take Action” by Simon Sinek is a paperback and one of Erdman’s carry-on favorites. For business executives seeking a more balanced management style, Dr. Tyrie Jenkins, an eye surgeon and founder of Jenkins Eye Care in Honolulu, recommends “The One Minute Manager Meets the Monkey” by Ken Blanchard, William Oncken and Hal Burrows. “My practice has grown to 16 employees, three of whom are professionals — two optometrists and one ophthalmologist,” Jenkins says. “As a result, problem solving and team management have become more complicated. This is a great little book to help achieve a balance between supervision and delegation. The result is better time management, improved productivity and less tension.” James Kerr, founder of SuperGeeks, just finished reading “Sapiens: A Brief History of Humankind” by Yuval Noah Harari, which he says “completely changed the way I see us humans.” He’s currently reading “Small Giants: Companies that Choose to Be Great Instead of Big” by Bo Burlingham. “The title says it all,” Kerr says. On order is “How to Get Filthy Rich in Rising Asia” by Mohsin Hamid. “It should be interesting,” Kerr says of the Pakistani’s third novel. Reach PBN Contributing Editor Jim George at jamesrgeorge@hawaii. rr.com.
SAVE THE DATE! THURSDAY AUGUST, 11, 2016 HAWAII CONVENTION CENTER
DON’T MISS OUT! PBN’s 2015 small business expo was a resounding success with over 600 attendees, 90+ booths and business development seminars. This year’s event will be even better. Don’t miss this chance to showcase your business amongst other industry leaders in the professional setting that only PBN can deliver. This year, the Expo will be located in the Hawaii Convention Center’s Kalakaua Ballroom on Level Four. This means one room, more booths, and a fantastic location BOOTH directly next door to our annual PACKAGE $750 Hawaii’s Fastest 50 Event!
INCLUDES
• ( 1 ) One 6ft display table with table cloth • ( 2 ) Two chairs • Pipe and drape: 8’ backwall with 3’ high sidewalls • Display ad in Expo special section in PBN with 50,000 weekly readers. • ( 2 ) Two one-year subscriptions to PBN • Complete list of exhibitors * Electricity for booth is an additional cost
BOOTH SALES CONTACT EMILY PELLIN 808.955.8003 epellin@bizjournals.com
EVENT SPONSORSHIP CONTACT SCOTT KATO 808.955.8048 skato@bizjournals.com FOR INFORMATION OR TO REGISTER bizjournals.com/ pacific/event/134972
Presenting Sponsor
Sponsor
Nonprofit Sponsor
12
PACIFIC BUSINESS NEWS
COVER STORY
HAWAIIAN ELECTRIC CO.’S
ROAD AHEAD W
BY DUANE SHIMOGAWA | DSHIMOGAWA@BIZJOURNALS.COM | 808-955-8036 | @PBNDUANE
hat’s next for Hawaiian Electric Co.? Last week, the Hawaii Public Utilities Commission, in a 2-0 vote, nixed the deal, without prejudice, meaning HECO and Florida energy giant NextEra Energy Inc. could have tried again to argue their case. Instead, on Monday, the companies announced they were calling off the $4.3 billion acquisition. What lies ahead now is HECO’s need to reassess how it will deliver on the state’s renewable energy mandates without NextEra’s help, the possibility that the public may want a different ownership model for the electric utilities in the Hawaiian Electric Industries Inc. portfolio and the remote possibility that someone else may make a bid for its subsidiary, HECO.
ILLUSTRATION BY BETHANY BICKLEY
The Renewables Challenge HEI did not come away emptyhanded. NextEra Energy will now have to pay it a $90 million breakup fee and up to $5 million for reimbursement of expenses associated with the deal. After taxes, that amount roughly comes out to $60 million. The company anticipates putting this money, in part, toward meeting the state’s mandated goal of 100 percent renewable energy sources for electricity generation by 2045.
“We’ll use the termination fee to help fund projects and programs that will benefit our utilities’ customers and help with our ongoing clean energy transformation,” Cliff Chen, manager of investor relations for HEI, told Pacific Business News this week. “We had already planned to invest about $145 million this year in these types of projects. The termination fee will help cover those costs.” The breakup fee will help, but some observers feel the possibility
of meeting those renewable goals just became more difficult. “They now have the challenge of stepping back and reassessing the state’s renewable energy goals,” Jim Yates, president of Par Hawaii, told PBN. “It’s going to be a different set of tools to work with without the capital NextEra Energy was offering. But I assume they still have the same obligations and will move forward with providing reliable energy to Hawaii.”
Par Hawaii, which supplies Hawaiian Electric with fuel, doesn’t anticipate any changes as a result of the failed transaction. But with NextEra Energy’s help, Chen says that Hawaiian Electric would have moved faster towards the state’s 100 percent renewable energy goal and at a cheaper cost. “If you want it slower and more expensive, this is what you got,” he said. “There are a number of advantages we would have with their assistance.”
13
JULY 22, 2016
COVER STORY
“If you want it slower and more expensive, this is what you got. There are a number of advantages we would have with their assistance.” CLIFF CHEN, manager of investor relations for HEI
Other Ownership Models Besides the current, decades-old investor-owned model, there are other ownership models that are currently being looked at by energy industry leaders and other stakeholders, including a municipality or a cooperative, among others, as a route to achieving the renewable energy goals. “[Other utility-ownership models] certainly could work and could be beneficial to consumers to do that,” Jeffrey Ono, executive director of the state Division of Consumer Advocate, told PBN. “If Hawaiian Electric doesn’t want to sell, then it becomes a difficult process to buy them out.” A co-op model is the most likely scenario on the Big Island to succeed Hawaii Electric Light Co., with Maui about the right size for a co-op or municipal utility to succeed Maui Electric Co. Oahu has a number of options that would work, according to state Rep. Chris Lee, D-Kailua-Waimanalo, chairman of the House Committee on Energy and Environmental Protection. The state Legislature included $1.2 million in its budget to study other utility ownership models as alternatives to the current model of the Hawaiian Electric Industries subsidiaries. “The studies that are underway now on the Neighbor Islands, as well as the studies that the state will soon be embarking on is really designed to answer those deep financial ques-
tions about what will things cost and how much consumer savings will be both immediate and over time,” Lee told Pacific Business News.
Other Suitors NextEra Energy’s exit now opens the door to several other possibilities and suitors, including billionaire businessman Warren Buffet’s energy company, Washington, D.C.’s Twenty First Century Utilities, and possibly even bigger names such as Google. Those are the names of some of the companies, sources say, that have the capability or have even shown an interest in buying Hawaii’s largest utility. “There have been a number of folks testing the waters who have been around for the last six months, perhaps in anticipation that NextEra would be denied,” Lee said. “I think right now, everyone’s taking a pause trying to figure out what actually comes next and what this means for the grid going forward.” Hawaiian Electric, which wasn’t for sale when NextEra Energy came knocking, isn’t for sale now, although if a bona fide offer came its way, its board has a fiduciary responsibility to take a look at that offer, according to Chen. “We don’t comment on any rumors or speculation,” he said when asked if the company has talked to any new suitors. “We are looking to move forward [on our own].” But the process surrounding the
MAJOR EVENTS RR Dec. 3, 2014: NextEra Energy, Hawaiian Electric announce $4.3 billion acquisition RR Jan. 29, 2015: NextEra Energy, Hawaiian Electric submit acquisition application to the PUC RR July 20, 2015: Hawaii Gov. David Ige announces his opposition to the sale RR Aug. 31, 2015: NextEra Energy outlines 50 new commitments to Hawaii, including nearly $1 billion in customer savings and economic benefits in the first five years after the deal closes RR Oct. 27, 2015: PUC holds Oahu listening session in Honolulu RR Nov. 4, 2015: PUC holds pre-hearing conference in Honolulu RR Nov. 30, 2015: Regulatory hearings kick-off in Honolulu RR June 3: The day the companies contractually agreed that either could walk away from the deal, although both decided to wait for the PUC’s decision RR July 15: PUC rejects deal RR July 18: NextEra Energy terminates $4.3 billion deal RR July 20: Hawaiian Electric Industries Inc., parent of HECO, says it has no plans to initiate talks regarding a sale
NextEra deal did open the door to future suitors. “There is no doubt in my mind that with the benefit of the commission’s orders we saw and the benefit of watching the NextEra issues progress, that another utility could come in and react in an appropriate way,” Richard Wallsgrove, policy director for Honolulu-based Blue Planet Foundation told PBN. “Whether they will or not, it’s possible.” Despite the termination of the deal, Hawaiian Electric remains an attractive acquisition target for a company having substantial renewable energy and renewable/ grid integration experience, Nathan Skop, a former member of the Florida Public Service Commission told PBN. “Finding the right partner is key,” he said. “Potential suitors might include Warren Buffett’s Berkshire Hathaway Energy or other companies that are fit, willing, and able to serve HECO customers in partnership with achieving Hawaii’s energy vision.” Other industry stakeholders, such as Douglas McClaflin, noted that any company interested in buying Hawaiian Electric needs big, big dollars, no matter what they promise. “I heard some foreign companies might be interested,” McClaflin, the owner and president of Pacific Greenwich Group Corp., told PBN. “I heard Buffet’s company might be CONTINUED ON PAGE 14
14
PACIFIC BUSINESS NEWS
COVER STORY HAWAIIAN ELECTRIC D
CONTINUED FROM PAGE 13
“I think right now, everyone’s taking a pause trying to figure out what actually comes next and what this means for the grid going forward.” STATE REP. CHRIS LEE,
D-Kailua-Waimanalo, chairman of the House Committee on Energy and Environmental Protection
interested. I can’t really comment on who can swing it and still give a profit to their shareholders or who will gamble the upfront dollars. HECO is not capitalized or technical enough to handle the problem.” Consider talks of another buyer any time soon to be purely hypothetical. In a statement released this week, Hawaiian Electric Industries said that it was deviating from its long-standing policy of not commenting on market rumors and speculation, solely to put such rumors to rest. “The company is not currently in discussions with any other party regarding a business combination and does not intend to initiate any such discussions,” HEI said. “The company will not provide any updates to the above statement nor otherwise comment on market rumors or speculation.”
Over the past three months, the market had been nervous about NextEra Energy Inc.’s proposed acquisition of Hawaiian Electric Co. The result was a drop in the share price for HECO parent Hawaiian Electric Industries and a rise in NextEra’s. However, both have benefited in some ways from a strong utility market. In the past three months, Hawaiian Electric Industries, which trades on the New York Stock Exchange under the ticker symbol HE, fell from $32.10 at the end of April to around $30.33 at midweek. The majority of this decline came on Monday, when HEI’s stock fell more than 7 percent after Hawaiian Electric and NextEra
NEXTERA ENERGY INC. C announced they would no longer be pursuing the deal. On Monday, Morningstar dropped its fair value estimate for HEI from $31 to $27 per share. NextEra, however, has risen from $115.51 at the end of April to $127.21 at midweek. Morningstar maintained its fair value estimate for NextEra at $103 per share. Both stocks have been relatively strong over the past few months, benefiting from a surge in the utilities sector. The sector is up about 21 percent so far this year, its best first-half performance in over 25 years.
- Kathleen Gallagher
NEXTERA’S EXIT PUTS THE BRAKES ON BANK’S IPO As NextEra Energy Inc.’s deal to acquire Hawaiian Electric Co. fell apart at the end of last week so did American Savings Bank’s dreams of becoming its own publicly traded entity. While analysts think it could still be in Hawaiian Electric Industries’ best interest to part ways with its bank, it’s likely that won’t be for a while, they confirmed. ASB had undergone several procedures in preparation for its initial public offering. Part of this included filing documents with the Securities and Exchange Commission. In these documents, ASB said it was in process of upgrading its inbound sales and outbound calling. It also said it was looking to develop new partnerships and referral arrangements across several businesses. However, while the filings are complete, the spin-off is unlikely, according to an analyst report from Morningstar. “Shareholders would be subject to a tax liability that was estimated at $1.60 per share at the time the transaction was announced and was to be assumed by NextEra,” the report explained. “We think the tax liability could make HEI’s board of directors reluctant to move forward with the spin, although it would simplify the investment thesis and likely result in a higher multiple on HEI’s share price.” Paul Brewbaker, economist at TZ Economics, thinks ASB should have been spun out long ago. “Its ownership by HEI is a relic of a passing fad in corporate control…it should have been divested long ago.” Morningstar, on the whole, thinks ASB is a strong regional bank. It expects its earning to increase at low single-digit rate over the next five years. “Our 1,200 teammates work hard every
day to deliver our vision to be a great bank making people’s dreams possible,” Rich Wacker, ASB’s president and CEO, said in a joint press release. “ASB is proudly rooted in Hawaii, and our business has always been supporting local families and businesses. While we are disappointed to lose the benefits this opportunity presented for ASB, there is no change in our focus to operate a high-performing financial institution and to always be a great place to bank and work.” An executive at the bank told PBN that at the moment things are going on as normal, but there is an atmosphere of disappointment. Most of the money to prepare for the IPO was spent on legal analysis of the bank’s documents. However, HECO has received a $90 million breakup fee and up to $5 million for reimbursement of expenses, which could be used to pay back ASB. ASB has also had to put the brakes on its new 350,000-square-foot corporate headquarters in Chinatown because of the discovery of iwi kupuna, or ancient human remains. ASB paid $12 million for the 62,595-square-foot vacant lot. Ed Pei, executive director of the Hawaii Bankers Association, said the bank is likely to be focusing its energy on the new campus following the NextEra-HECO decision. “They will continue to work on their new campus, the delay of which has not been impacted in any way by the PUC delay in their decision,” he said. “They have done a lot of work in preparation for the spin off.” PBN reached out to ASB for further comment.
- Kathleen Gallagher
15
JULY 22, 2016
Power breakfast. What you need to know for business.
LAST DAY TO REGISTER
T U E S D AY • J U LY 2 6 • 8 : 0 0 A M – 1 0 : 0 0 A M • T H E P L A Z A C L U B , 2 0 T H F L
Hawaii’s nonprofit organizations face new challenges each year, from fundraising to managing efficiency to attracting highly qualified and dedicated board members. Our panel of experts will discuss those issues and more.
Ron Brandvold President and CEO, Easter Seals
Pamela Burns
President & CEO, Hawaiian Humane Society
TOPICS TO INCLUDE Z What are the challenges facing non-profits today? Z How can non-profits be competitive on recruitment and retention? Z What are keys to successful for-profit/non-profit partnerships? Z How can non-profits best build, and activate, their boards?
Jan M. Harada
President & CEO, Helping Hands Hawaii
S. Sanae Tokumura
President, Association of Fundraising Professionals Aloha Chapter
TUESDAY, July 26 The Plaza Club, 20th floor 8:00 AM Registration & Buffet Breakfast 8:40 AM Program followed by Q & A 10:00 AM Program concludes
Z Where are non-profits finding fundraising success? Z And More! SPONSORS
Donna Tanoue
President, Bank of Hawaii Foundation
Limited Space Available! For tickets and table information, visit: BIZJOURNALS.COM/ PACIFIC/EVENT/135102
QUESTIONS? Contact PBN’s Events Director, EMILY PELLIN, at 808-955-8003 or epellin@bizjournals.com
16
16-BAY-0573 PBN.indd 7/13/16 9:18 AM - 1 -
PACIFIC BUSINESS NEWS
(Cyan) (Magenta) (Yellow) (BlacK)
A. Bernard Bays, Of Counsel
Harvey J. Lung, Partner
Crystal K. Rose, Partner
Karin L. Holma, Partner
Bruce D. Voss, Partner
Craig P. Wagnild, Partner
Ryan H. Engle, Partner
Michael C. Carroll, Partner
Adrian L. Lavarias, Partner
Sarah M. Love, Partner
Bart W. Howk, Partner
Matthew C. Shannon, Partner
Real estate and construction legal expertise all under one roof. When it comes to real estate and construction law and litigation, no legal team in Hawaii has received more recognition. We earn it by offering you a combination of strategic counsel and sheer determination that’s always working for your best interests. To see all our credentials, visit us at legalhawaii.com. Problem solved.
Topa Financial Center, 700 Bishop Street, 9th Floor, Honolulu, HI 96813 (808) 523-9000
•
legalhawaii.com
17
JULY 22, 2016
SPECIAL REPORT RESIDENTIAL REAL ESTATE
ROUNDTABLE FEATURE
“IT’S JUST A
PHENOMENAL TIME TO BE IN
REAL ESTATE IN HAWAII.”
- PAUL MAYER
Pacific Business News gathered eight of the top residential real estate experts in Hawaii last week for a discussion on the current market: Myra Brandt, principal broker of List Sotheby’s International Realty; Fannie Cline, broker in charge of Oahu for Hawaii Life Real Estate Brokers; John Harris, broker and owner of Re/Max Honolulu; Scott Higashi, executive vice president of Locations LLC; Kalama Kim, principal broker at Coldwell Banker Pacific Properies and current president of the Honolulu Board of Realtors; Paul Mayer, managing partner of Elite Pacific Properties; Kevin Miyama, team leader CEO of Keller Williams Honolulu; and James Wright, president and CEO of Century 21 All Islands. Read what they had to say on the following pages. CONTINUED ON PAGE 19
TINA YUEN
Standing, from left: Kalama Kim, James Wright, Kevin Miyama and John Harris Seated, from left: Scott Higashi, Myra Brandt, Fannie Cline, and Paul Mayer
SPONSORED BY
18
PACIFIC BUSINESS NEWS
Specializing in Luxury Properties in Resorts, Oceanfront and Golf Communities on the Big Island of Hawaii...
Harrell D. Baker
Eileen F. Lacerte Owner / Broker
Tomoko Matsumoto Owner / Broker
Brandon Hickman
Jana Kaholoa’a
James R. Dollens
James C. Niderost
Jacob A. Schneider
Pat Strausse
Catherine Klug
Angel Wannemacher
Renée H. Kraft
Shauna Zinn
HAWAII BEACH AND GOLF PROPERTIES 68-1330 Mauna Lani Drive, Suite 308 | Kohala Coast, HI 96743 | HawaiiBeachGolf.com | 808.880.1290 Brokerage license number RB-21253
19
JULY 22, 2016
SPECIAL REPORT RESIDENTIAL REAL ESTATE would make it better. We did see a study that was presented to the Honolulu Board of Realtors and, by far, our state is the most difficult to develop housing and commercial buildings in the entire country. They had an index that they gave, and we are at something like 2.44 as the hardest in the country, and then the one right below us was at below one. So we are significantly more difficult to develop than any other city.
CONTINUED FROM PAGE 17
PBN: Let’s talk about the median price and how it’s moving upward. How is that affecting the market? John Harris: Median price depends on what’s selling that particular month. So you don’t want to look at one month in particular. The past months were the two highest we’ve ever had for single family and condos, but there were 20 properties that sold for over $2 million — that can skew the median price. But I don’t think anybody would argue with the upward trend. A lot of it is due to a lack of supply and the fact that we just haven’t been building to keep up with the demand. Kalama Kim: Every time we go through these cycles, we’re always astounded at how high the price is at this point. In the mid-2000s, we couldn’t believe it was going up 20 percent, 15 percent, 28 percent. I remember back then, [economist] Paul Brewbaker predicted that we’d hit a $700,000 to $800,000 median price, and now this time around we finally did. And now he’s predicted $1 million. PBN: What is going on with inventory? Scott Higashi: The inventory problem that we’re seeing is especially acute, where you look at the condo market and anything at the median sales price and below is really tough and in single family the same thing. In the higher price points, there’s more inventory. There’s just fewer buyers. Myra Brandt: It might have to do with where prices are going, and where do they move up to or can they move up. The new supply that’s coming on the market is not feeling that market, it’s on the upper end. Fannie Cline: You’re seeing that sharp increase in demand for the condo market, because people are getting so outpriced in the single-family market. Maybe it’s a townhouse now or it’s a condo, because that’s really all we can afford at this point. Paul Mayer: It is the [interest] rates that’s driving all of it. None of this would be affordable without those low rates. As long as rates stay low and inventory stays tight, prices will keep on rising. That’s just supply and demand. We’re in an environment where we don’t build new houses, so we don’t add supply. Kalama Kim: It will be interesting to see if we have supply around the corner. We have all these cranes out there in Kakaako, so it’s coming. But is it enough? Out on the west side, you’ve got Hoopili, 11,000-something properties. So it’s
“I don’t think things are going to sit on the market that much longer going forward, not for the foreseeable future.”
John Harris: And we were all shocked to hear that, weren’t we? Scott Higashi: I think government regulation is one thing, but then you have construction costs, which are not government-regulated costs, and so a lot of developers are faced with that challenge.
SCOTT HIGASHI
around the corner, but will that be enough to level out prices and make it stay as affordable as it is today? Fannie Cline: The challenge with your point about Kakaako is, that’s not affordable for the average Joe, except for the affordable housing. So, yeah, we’ve got the state bird here all across Kakaako right now with all your cranes, but the median is $1 million for one of those units, and that’s not your average, typical buyer here on Oahu for the local folks that live and work here. Myra Brandt: I don’t think that just because of good conditions, that developers can price — and sellers can price — it anywhere they want, because there is also an affordability absorption. We’re experiencing some projects where the market’s not there, especially for a local market and going for a local neighborhood. James Wright: Kakaako is a micromarket for the state, and though we’re putting thousands of units out, it’s for select buyers. Some of that’s overseas and it’s not even here. Where we’re not seeing enough is the stick frame popping up. Oahu has got some coming, but on the Neighbor Islands, it’s pretty anemic. This little market here is fun. I mean, it’s exciting, but it doesn’t help Kona, it doesn’t help Princeville. They have a whole different program going on. PBN: What incentives do developers need to do more moderate-income housing? Kalama Kim: We had a developers forum earlier this year and were asking a lot of questions, and there was no one answer that the developers could give us that
Fannie Cline: When we’re talking about development and construction and having to bring in all of these materials, the price of oil directly correlates with how a lot of these things get priced out, and that’s one of the things out of our control. Myra Brandt: It really starts with the land value, though, because anybody that’s going to build or construct or try to get a profitable entity to resell when it starts with the land being so high, it’s almost an impossibility to make this a profitable venture, and that’s what keeps the developers a little wary. Scott Higashi: We were looking at how people on Oahu migrate, if you will. As condos close in Kakaako at those higher price points, other inventory will open up and, if rates remain the way they are, that’ll provide some opportunity for folks to move into that space and others to move into their spaces, and maybe that’ll help free up some existing inventory as the market rolls through. John Harris: A lot of our existing inventory isn’t suitable for today’s buyers, too, and that’s one way that construction costs are really impacting us. And with a lot of contractors and trades working on these big buildings, it’s pushed the price per square foot up. So whether people can afford to renovate or whether they can even find a contractor, that impacts the whole decision — am I going to migrate from my first house to my dream house if I can’t fix it to my liking? PBN: What’s going on with the luxury market? Myra Brandt: We’re feeling that maybe the luxury market is slowing up. As I mentioned, it’s very regional. If you go into certain neighborhoods, if you look at CONTINUED ON PAGE 21
20
PACIFIC BUSINESS NEWS
Rachel-Joy Nisperos
Mark Goodman
Nilfa Cataraja
Leslie R. Lewis
Valentina DanilyukDrumheller
(808) 372-0314
(808) 651-5466
(808) 343-4036
(808) 295-6394
(808) 352-4615
Joy H. Barnhart
Patty Bell
Paulette Lym
Kelly A. Lee
Clarissa “Claire” A. Mori
(808) 351-7778
(808) 386-9391
(808) 866-8084
(808) 225-0349
(808) 228-4449
Jennifer C. Gaura
Rhonda L. Tessem
Tiffany M. Lee
Steven H. Latham
Nelson Cadiente
(808) 265-1576
(808) 927-5500
(808) 798-2609
(808) 346-8775
(808) 358-1418
Christy Aiwohi
Milt Piver
Danette K. Andrews
Scott Walker
Amber Silliman
(808) 551-6364
(808) 864-3431
(808) 635-7019
(808) 372-8331
(808) 212-4908
RS-68804
RB-10848
RS-64672
RS-67380
RS-74555 (Kauai)
RB-20760
RS-76889
RS-68466
RS-75406
RS-77300 (Maui)
RS-76812
RS-60907 (Kauai)
RS-45767
RB-20466
RB-21374 (Kauai)
RS-69846
RS-74923
RS-38359
RS-69083
RS-78155 (Kauai)
LOCAL INSIGHT. GLOBAL ACCESS. That’s what sets the Fine Homes & Estates agents apart.
We are a Top 20 Global Ranking firm in the CENTURY 21® System - ranked #16 out of approximately 6,800 offices worldwide.
Each office is independently owned and operated.
21
JULY 22, 2016
SPECIAL REPORT RESIDENTIAL REAL ESTATE Scott Higashi: It’s inevitable. When consumers drive it, there’s no stopping it. So now it’s just a question of how you manage it. Hawaii’s slow to adopt things, so it’ll be a few years, but it’s coming.
CONTINUED FROM PAGE 19
Kahala three years ago, we have now the highest median sales price in the history of Kahala sales, and that has stayed steady. On one hand, that international buyer pool has kept our economy pretty steady. On the other hand, there’s some complaints about, well, they’re just going to buy up everything and drive the prices up. We’re in a world economy and wherever you go, that’s going to happen anyway. Fannie Cline: Kailua is a great example. Look at how Kailua has just skyrocketed in pricing over the past few years. You can thank Obama for that, right? For all the press and whatnot. If you’re looking for anything under $1.5 million in Kailua, it’s almost a teardown sometimes. That kind of a price point has become kind of the norm. Those price points do tend to remain consistent or continue to grow. Scott Higashi: The fact of the matter is it’s a smaller market. There’s fewer buyers. The higher up the scale you go, there are fewer buyers who can afford it. There aren’t that many $5 million home buyers. Kalama Kim: You have to look at the details and the different stratifications in the luxury market because they’re much different. James Wright: If you look at Kohanaiki, it’s between the airport and KailuaKona, and this is just black lava. No bay, no sandy beach, no nothing. And they start at $2 million. I mean, they’re building off the charts over there. They’re building over $20 million assets, and they’re selling them every month in what I would not call a highly desirable place. It will be when it’s finished. It’ll be gorgeous and look like it’s subtropical. Paul Mayer: If you look around the state, the high end is booming. And on Oahu, the $1 million to $3 million market is very, very strong. Very strong. It’s the $3 million and up that’s a little bit slower on Oahu right now. Statewide, the super-luxury [market] is exploding. There’s so much money. The stock market’s at an all-time high right now. There’s money from all over the world that wants to buy superluxury properties in Hawaii. PBN: Is it a good time to be a Realtor?
Fannie Cline: That kind of competition is healthy because that promotes change, because you’re bringing in something new and different that wasn’t already here before.
“The reality is, if it’s under a million dollars and you don’t have it sold immediately, by definition, it’s overpriced.”
PBN: Do you see accessory dwelling units making any impact on the market? James Wright: It’s kind of the ohana today, which is where you put your aunty and your parents, and then it became a rental with multi-units on a property. I think there’s a need and it’s more and more familyoriented, about multigenerational living.
PAUL MAYER
time to sell. If you’re a buyer, lock it in right now for 30 years at the lowest rates you’ll ever see for your lifetime. There’s no better time to be a Realtor. It’s just a phenomenal time to be in real estate in Hawaii. Make money while you can, bank it. It won’t last. Once those interest rates up, it’s going to be a little different story. Kevin Miyama: It’s what Kalama was alluding to: I think we get a 5 percent increase in membership (in the Honolulu Board of Realtors) every month. Kalama Kim: The average for the year to date is 6.5 percent. So membership’s growing. So HBR says yes, it’s a good time. About 5,600 HBR members and we have affiliate members like title companies that take us over 6,000. PBN: In San Francisco, Uber and Airbnb are influencing the way the developers design housing. Do you foresee this happening here? Paul Mayer: It should. The public is now becoming aware that the future will be fleets of self-driving cars. You won’t own cars, so you don’t need to build parking for urban residences. I doubt that regulators will take that into effect very soon, but they should. It also has major implications for rail, obviously, because the future will be — and sooner than people think — fleets of self-driving cars.
Fannie Cline: It fills that need of lack of housing opportunity, right? But at the same time, do we have the infrastructure, the sewers and the electricity and everything else? John Harris: Some of the buyers, and typically toward your higher end, are looking at doing their due diligence and are deciding whether to pursue a property, what if I add something above the garage? But it’s difficult, because each property’s had its own issues regarding sewer, fire regulations and, most of all, parking. In certain neighborhoods, you’ve got postage stamp lots, so where are they going to park? But it hasn’t created the wildfire that I think was expected. Scott Higashi: The problem you have when the market’s going well is, if you want to do home repair, unless you’re going to do it yourself, getting an electrician or a handyman or a small contractor to come and help is really tough. Then you want to go and build an ADU, and, by the way, you’ve got to hook it up to the sewer and, incidentally, you have to get a permit. It’s a big hassle trying to do stuff that’s permit-required, and it’s probably costing a lot more than people had anticipated. We’ve gotten a lot of calls to say, does my land qualify for it, and we’re not experts on that. So it seems people are thinking about it, but we haven’t seen a lot built. PBN: Do you see developers building more affordable condos? If so, where?
Scott Higashi: A fantastic time! Paul Mayer: I’m telling everybody, there is no better time to be selling real estate in Hawaii than right now today. You’ve got the stock market at an all-time high, real estate prices at an all-time high, mortgage rates at an all-time low. If you’re a seller, it’s the best possible
Myra Brandt: It’s driven by demand and the public need, and that’s how Uber developed. With Airbnb, people want to do it themselves. We have to recognize that, and we can put controls on it, and we can actually benefit and leverage that if we tax it right. So, yes, I think there’s an impact. It should be allowed to happen.
Paul Mayer: In the current environment, the economics don’t support it. That’s why the government requires it in order to allow you to build something else that’s market rate.
CONTINUED ON PAGE 23
22
PACIFIC BUSINESS NEWS
The Real Estate Firm People Trust
Coldwell Banker Pacific Properties
Why Coldwell Banker?
Local Expertise. Independent Sales Associates with the local knowledge and experience, helping buyers and sellers make informed decisions throughout their real estate transaction.
For the expert representation you deserve, contact Coldwell Banker today. Visit www.ColdwellBankerHomes.com
Tracy Allen
Linda L. Blomquist (R) | RB-21819 808-293-9595 LindaB@cbpacific.com www.lindabhawaii.com
(RA) | RS-62433 808-478-0330 SusanB@cbpacific.com www.SusanBorochov.com
Kathy Grindle
Iku S. Honda
Dawn L. Hunt
(RA) | RS-46610 808-593-6415 Tracy@cbpacific.com Www.TracyAllenHawaii.com
Susan Borochov
Tiffany S. Bove
Gloria C Brasuel
Etsuko Morita Fields
(RA) | RS-60144 808-222-6198 tiffanyb@cbpacific.com
(RA) | RS-73388 808-352-8278 GloriaB@CBPacific.com www.GloriaHawaii.com
(RA) | RS-67144 808-782-8417 EtsukoF@cbpacific.com www.buysellhomesoahu.com
Nana Isono
Malia Kakos, J.D.
Jordan T. Kam
(R) | RB-20779 808-864-3127 kathyg@cbpacific.com www.kathyg.cbintouch.com
(R) | RB-15682 808-226-2790 ikuh@cbpacific.com www.ikuhonda.com
(RA) | RS-77235 808-220-4037 dawnh@cbpacific.com www.dawnh.cbintouch.com
(RA) | RS-75329 808-542-5241 nanai@cbpacific.com www.nanai.cbintouch.com
(RA) | RS-74485 808-741-8292 MaliaK@cbpacific.com www.maliak.cbintouch.com
(RA) | RS-66171 808-351-0876 jordank@cbpacific.com
Raymond Kang
Dawn Kayano
Nancy D. Metcalf
Laurie Chang Murphy
Lyuba Naiditch
Phoebe Nikolakakis
(RA) | RS-72999 808-772-6738 raymondk@cbpacific.com www.aloharaymond.com
(RA) | RS-69435 808-389-4662 DawnK@cbpacific.com www.DawnKayano.com
(R) | RB-16599 808-223-9246 Nmetcalf@cbpacific.com www.nancymetcalf.com
Lynn C. Plantz
Jerron Roberts
Robyn A. Schaefer
(RA) | RS-54202 808-728-3883 lynnp@cbpacific.com www.LynnPlantz.com
(RA) | RS-75814 808.462.8745 jerronr@cbpacific.com www.ihousehawaii.com
(RA) | RS-67930 808-223-4549 robyns@cbpacific.com
(RA) | RS-65720 808-349-8787 lauriem@cbpacific.com www.BeautifulHawaiiHomes.com
Ayla Toman
(RA) | RS-76787 808-436-9195 aylat@cbpacific.com
www.buyselloahuhomesaylatra.com
(RA) | RS-76527 808-859-8176 LyubaN@cbpacific.com www.ParadiseHomesOahu.com
(R) | RB-21937 808-780-6267 phoeben@cbpacific.com phoebesellshomes.com
Khai Tran
Rosita D. Valdez
(RA) | RS67959 808-392-8822 Khai@cbpacific.com www.facebook.com/khaimtran
(RA) | RS-57835 808-389-3598 rositav@cbpacific.com www.rositav.cbintouch.com
©2016 Coldwell Banker Pacific Properties. All Rights Reserved. Coldwell Banker Pacific Properties fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.
23
JULY 22, 2016
SPECIAL REPORT RESIDENTIAL REAL ESTATE Fannie Cline: It’s interest-rate driven, too, not that it’s been fluctuating that much recently but when you do see that dollar weaken a little bit, you’ll see a lot more influx of those people trying to move some money around because they might be getting a little bit of a deal or a discount on that exchange rate.
CONTINUED FROM PAGE 21
Myra Brandt: Or, again talking about what the government can do, Kapolei was supposed to be the “Second City.” They’ve got to start doing the infrastructure on businesses and government agency offices so that all this traffic is not funneling into Downtown Honolulu, that they can work and play and live out there. So they need to start looking at planning and developing that faster to accommodate the housing growth there. PBN: What’s the trend for time on the market? Kalama Kim: Last month, it hit the record books. For single-family homes, [median] days on market was 14 days, so two weeks and it’s gone. Fannie Cline: Again, it’s neighborhood specific and price-point driven. Obviously, your $5 million-pluses aren’t in that range, but anything I think in the $1 million-and-under price point in those desirable neighborhoods, it goes quick. Scott Higashi: No question, it’s fast, and that’s a function of inventory, demand, low interest rates — all those things are coming together. I don’t think things are going to sit on the market that much longer going forward, not for the foreseeable future. Myra Brandt: As Paul was mentioning, though, that $3 million to $5 million sector is slowing up. Paul Mayer: It’s actually much more extreme on Neighbor Islands, where there are really optional buyers and sellers and it sits there just forever, perpetual listings in the million-dollar range. Kalama Kim: In that median price range, most sellers are going to hold off on reviewing their offers until they get multiple offers, so they wait five or six or seven days. If they didn’t do that, you’d see days on market in the single digits. Paul Mayer: The reality is, if it’s under a million dollars and you don’t have it sold immediately, by definition, it’s overpriced. That’s the market we’re in right now. Myra Brandt: And I’d say maybe anything under $2 million, because it’s a predominantly local market. PBN: So who is buying these days? John Harris: It’s a mix. We have a lot of military and VA-eligible people that are buying. Myra Brandt: I’d say on the luxury side,
PBN: What are the trends for sellers?
“Despite what everybody thinks — driving a Mercedes, getting $100,000 checks every week — that’s not really the way it works. It’s really, really hard work and we’re held to a standard above most professions.” JAMES WRIGHT
everything over $2 million to $3 million, you’re certainly looking at domestic buyers, as much as 25 percent to 30 percent. And then when you get over $5 million, it’s predominantly offshore and out of state. In the $1 million to $2 million range, you’re still about 80 percent local. But everything under $1 million is not necessarily also local. We have Japanese investors that are looking for particular properties that fulfill a criteria for accelerated depreciation for their tax write-offs. They’re looking in Mililani, they’re buying up all the Mililani townhouses. James Wright: This is the Hawaii market right here. This is our local market. Our second-biggest market is California. They’re spending a billion dollars a year here on real estate. Nevada and Utah equal the China market. The investment coming out of those two states is the same size as China. So this is still a very localized market. Myra Brandt: The Japanese have always been the strength of the international buyer by about six times more than the second tier, which has always been Canada and Australia for years until about 2010. The Chinese last year did move into second place. They are making a presence. We had agents that just went over there and came back and said, it’s now the middle-class tier of millionaires that are buying. It’s not just the uber-wealthy coming off shore.
Myra Brandt: Their expectations are rising, the level of service that they’re expecting is rising. Scott Higashi: We are seeing in those lower price points, buyers are bidding up above the asking price, and that also is helping to drive prices up. You have a lack of inventory, you have competition. If you’re a seller and you get your first offer on the first day, you might as well see what happens on the second and third day. It might come in higher and folks start bidding against each other, and that’s driving prices up as well. Fannie Cline: People have so much access to information now that they didn’t have 10 years ago. So they’re going to the Zillows and the Trulias, and they say “Zillow says my house is worth $10 million,” right, when it’s probably only worth $2 million, or whatever that case may be. There has to be a correction of expectations and a reality check for that client. I think it’s our job as professionals and those that we work with to help educate those sellers that this is what you see on the internet but here’s the reality. Kevin Miyama: Fannie brings up a good point about training and professionalism. You look at the professionals here. Then you get this influx of new agents not getting their training. I know that what Kalama’s guys are doing at HBR right now is that emphasis, our perception to the public. We have a responsibility as brokers and the owners of companies that we have to maintain that training. Myra Brandt: But it’s driven by demand and expectations. I know on the upper end, it’s virtual tours, its lifestyle tours. We have to sort of tailor our product to them. James Wright: We have 10 buyers for every asset. Well, it’s probably not quite that aggressive, but close. So when you get a new buyer, they want to negotiate, they want to get a deal, they want to get the price down. [But] if you want to get this over with, you’re going to have to overbid. They go through this learning curve where they’re tired of losing. The buyers have really lost the ability to flex any muscle. It’s a seller’s market. CONTINUED ON PAGE 24
24
PACIFIC BUSINESS NEWS
SPECIAL REPORT RESIDENTIAL REAL ESTATE CONTINUED FROM PAGE 23
PBN: Are you doing anything different with regard to training? Kalama Kim: At HBR, we’ve revamped our orientation for new agents coming in. And there have been additional classes, especially since this is a renewal year for licensing. We have seen a growth of different models of brokerages, and it’s nice that many of them that have come into the market are focused on training and development, professional development for agents.
their iPad while they were waiting for their kid at soccer practice and then they can plug in and watch the rest of the course when they get home. Kevin Miyama: It’s value. The company has to provide the value of the training. That’s what you’ve got to offer: value.
Fannie Cline: It’s so competitive, too. How do you differentiate yourself? Because you are going to be competing when you go into that listing presentation. That’s a challenging environment, especially for new licensees, getting that market knowledge and getting myself to a place where I am able to compete with the rest of the folks out there.
James Wright: We’ve run a real estate pre-licensing school for over 20 years, and it’s a bad statistic, but eight out of 10 will fail in under 36 months and be out of the business. Despite what everybody thinks — driving a Mercedes, getting $100,000 checks every week — that’s not really the way it works. It’s really, really hard work and we’re held to a standard above most professions. Our average cost of training somebody is between $35,000 and $40,000. It takes over three years to get him or her up to speed, and that’s the investment of management, time, resources, tools, marketing.
John Harris: You’ve got to have different types [of training]. You’ve got to have your in-person training. The technology exists now for people to get the kind of training they want, self-paced, 24/7. They started on
Myra Brandt: I do think the industry now recognizes that. The challenge in a market like this is that people get a license and they think they can just go out and sell. It’s really hard to get them to training classes.
“That international buyer pool has kept our economy pretty steady.” MYRA BRANDT
We have regular meetings once a month and we have training once a month, but that’s not enough. We even have coaching groups. We’ve had to change the training. It’s constant.
808.532.3330 J TC H a w a i i . c o m A Real Estate Brokerage Corporation
Jack’s career began as a CPA in Honolulu. The first seven years were spent with an international CPA firm followed by 20 years with his own successful 20-person CPA company during which time he served as President of the Hawaii Society of CPAs. As a Realtor®, he draws on his prior professional CPA experience when advising his clients on their real estate investment needs. But it is also Jack’s negotiating skills and perseverance combined with his creativity that truly enable him to make his client’s financial goals a reality. Jack is a Top 100 Realtor in Hawaii and was recognized in 2014 and 2015 by the Howard Hughes Corporation as the Top Producing Agent for the developer’s Ward Village projects by units and dollar volume. May spent 19 years with the Danish luxury retail brand Georg Jensen in sales and as the general manager. It was dur ing her tenure there that she earned her Master’s Degree in Accounting. In 2014, May decided to join her husband’s real estate firm. Since then, May’s natural selling ability and her extensive language skills (she speaks English, Mandarin, Cantonese, Hakka, Hokkien, and a little bit of Japanese) have resulted in her closing record sales in Honolulu, particularly Kakaako. WARD VILLAGE
WARD VILLAGE
Top Producing Agent by Units & Dollar Volume
Top Producing Agent by Units & Dollar Volume
2 0 14
www.JTCHawaii.com
2015
John “Jack” Tyrrell
President Realtor ®, CRS, CPA (not in public practice) RB-19880 E: Jack.Tyrrell@JTChawaii.com C: 808.306.6933
In 2006, Melanie Long formed Pacific International Realty, a locally owned and operated Boutique Real Estate Firm. Both Buyers and Sellers notice the difference in the expertise and diligence provided by Pacific International Realty agents. “We strive to exceed our clients expectations, and take great pride in helping our clients achieve their goals. Our agents are experienced, knowledgeable, courteous and speak several languages.” Pacific International Realty proudly services all islands of Hawaii. Please call Melanie Long today for your real estate needs Office: 808-394-9223 or Wireless: 808-375-9223! Mahalo nui~
Melanie long
Realtor®, PB, GRI, ABR, CDPE, e-Pro
May Lew Tyrrell
Executive Vice President Realtor-Associate®, MBA RS-75745 WeChat: Mayinhawaii E: May@JTChawaii.com C: 808.223.3364
Pacific international realty
Koko Marina Shopping Center — Ground Floor Across Zippy’s Office: 808-394-9223 | Cell: 808-375-9223 Melanie@MelanieLong.com www.PacificIntlRealty.com | www.MelanieLong.com
25
JULY 22, 2016
SPECIAL REPORT RESIDENTIAL REAL ESTATE
TINY HOMES
BIG AFFORDABILITY
BY NATANYA FRIEDHEIM nfriedheim@bizjournals.com 808-955-8042
The tiny house movement that’s gaining popularity on the Mainland is finally reaching Hawaii. While some find that smaller housing options such as accessory dwelling units and recreational vehicles offer an affordable housing alternative in Hawaii, tiny-home developers are bumping into permitting and regulatory issues that prevent the trend from taking off. Hawaii-born former NFL player Brandon Hardin founded Tiny Pacific Homes on Oahu less than a year ago, after returning to the Islands. “You’d think that a young local guy who played in the NFL would have enough money to move home,” Hardin said. “Young local kids who do well still can’t afford to come back home. That is one of the main reasons I got into this concept was because the lack of affordability and the lack of housing for homeless.” His company now distributes RVs for temporary housing and has plans to build ADU units to provide permanent housing units. Hawaii law does not permit people to live in RVs for more than 30 consecutive days, an issue that limits the growth of the mobile
home movement in the state. Accessory dwelling units — the Honolulu City Council earlier this year passed an ordinance permitting homeowners on Oahu to add rental units — are a viable alternative, but Tiny Pacific Homes customers must first go through a lengthily permitting process which could end in a denied request. Despite the permitting process, Hardin continues to receive requests for ADUs and sees three categories of customers. First are millennials, who find the price for housing in Hawaii “untouchable” and seek a more affordable option. Second are the “older kupuna generation,” who look to accommodate their growing, multigenerational households. The third category Hardin noticed are investors looking add rental units to their homes. While Tiny Pacific Homes waits for the market for ADUs to pick up on Oahu, Waimeabased Habitats Hawaii is struggling to keep up with the demand for RV-style tiny homes on the Big Island. In fact, the Big Island was recently featured on an episode of the HGTV program “Tiny House Hunters.” Habitats Hawaii builds custom tiny homes with a 200-square-foot interior that are priced from $50,000 to $80,000. “But once they’re placed,” company cofounder Barrie Rose said, “since Hawaii is an
PHOTOS COURTESY HABITATS HAWAII
Habitats Hawaii’s tiny houses are built atop custombuilt trailers, with outdoor showers and cabinets made from reclaimed wood from the Big Island.
indoor-outdoor environment, you can easily extend the space.” Some tiny-home owners add an outdoor kitchen with a barbecue, others install a deck. The mobile structures each contain an indoor bathroom with a composting toilet, an outdoor shower, an in-house filtration system for rain water captured in the house’s gutter system; and all tiny homes come solar- or electric-ready. Though mobile, the structures are not intended to be moved frequently. Ninety-five percent of the tiny homes built by Habitats Hawaii are off the grid, complete with solar electricity and water-catchment systems. Habitats Hawaii’s tiny-home structure is technically considered a travel trailer, and requires registration with the Department of Motor Vehicles. But the structure is neither an accessory dwelling unit nor an ohana dwelling and so does not require a building permit. Habitats Hawaii buyers are usually single people or couples and often times retired people “tired of carrying a mortgage,” as Rose explained. According to Rose, the tiny-homes craze is more than a consumer trend, it’s a mentality shift towards a more sustainable way of life. “If nothing else, we are a model of sustainability,” she said. “Showing that it is possible, because one day it may be necessary.”
26
PACIFIC BUSINESS NEWS
SPECIAL REPORT RESIDENTIAL REAL ESTATE
FORECLOSURE PROCESS AMONG SLOWEST BY JANIS L. MAGIN jmagin@bizjournals.com 808-955-8041 | @PBNJanis
It takes longer to process foreclosures in Hawaii — more than three years — than in any other state, except for New Jersey. RealtyTrac recently released a report that looks at foreclosure
activity in the first half of 2016. Nationally, it declined 20 percent from the second half of 2015 and 11 percent from the first six months of 2015. But also found the amount of time it takes to process a foreclosure, from notice of default to the lender taking back the property, took an average of 629 days, or about one year and nine months in the U.S..
Honolulu Honolulu office 1357 Kapiolani Boulevard, Suite 870 Honolulu, HI 96814 (Main) 808.951.3200 (Fax) 808.951.0185 Kapolei office 480 Kamokila Boulevard, Suite B-3 Kapolei, HI 96707 (Main) 808.687.8900 (Fax) 808.687.8902 RB-16591 www.movetoHawaii.com
Hawaii was among the states with ing the first six months of the year — the longest foreclosure times at 1,236 nearly 18 percent from the first half of days. Only New Jersey takes longer last year and 9 percent from the second half of 2015 — with a total of 1,532 — 1,249 days, while New York was properties, or one in every 343 housthird-longest at 1,058 days, Utah was fourth at 1,025 days and Florida, one ing units, in some stage of foreclosure. of the hardest-hit states during the At the county level, the Big Island had the highest rate during the first Great Recession, was at 1,012 days. half of the year, with 386 properties, The main reason for Hawaii’s long or one in every 217 housing units, in delays could be the state law passed during the downturn that essenforeclosure, an increase of 11 pertially put a moratorium on nonjucent from the same period last year. dicial foreclosures, forcing lenders Kauai posted the largest increase at to go through the courts to foreclose 26 percent, with 106 properties, or on properties. one in every 284 housing units, in foreclosure. Maui According to County’s rate was statistics from the s e c o n d - h i g h e st state Judiciary, with 260 properthere were a total of 842 foreclosure ties, or one in every cases in the courts 273 housing units for the first five in foreclosure. And months of the year, on Oahu, there were 780 properseven more than the same period a ties, or one in every “We just don’t see year ago. 436 housing units, what you see Data from the in foreclosure. Honolulu Board of And for the on TV on the Realtors shows the month of June, the Mainland, where number of sales number of bankowned properties, involving distressed they’re getting properties — foreor REOs, fell to 74 great deals on the closures, lender statewide, from 150 sales and short sales last year, according short sale, or the — reached a peak of to the RealtyTrac auction, because 1,100 properties in report. 2011 before declinBut the data there’s so much ing to 333 last year. doesn’t give a comdemand here” The first half of this plete picture of a market that has year saw 149 sales, KALAMA KIM, principal a tight inventory compared to 156 broker for Coldwell Banker of homes for sale sales during the Pacific Properties and current president of the Honolulu and is experiencfirst six months of Board of Realtors ing record median 2015 — or 541 during prices, according the first half of 2011. to broker Michelle Lynch, the REO The number of active listings in those categories fell from January 2014 to program director at Locations LLC. October of last year, and have been The moratorium on nonjudirelatively flat at between 300 and 400 cial foreclosures means lenders are since then. There was a total of 1,243 working at other ways to avoid putactive listings on Oahu in June. ting those cases through the courts. Short sales, which once took at least While areas such as Ewa Beach and Waianae were hit hard by foresix months to close, are now easier closures during the downturn, and moving through faster as lendHawaii never got as bad as some ers agree to lower prices in lieu states on the Mainland, such as of pursuing a lengthy foreclosure Nevada or Florida. prices, she said. “We just don’t see what you see on And the market’s higher prices are allowing some homeowners TV on the Mainland, where they’re who were previously underwater getting great deals on the short sale, or the auction, because there’s so on their mortgages to sell and somemuch demand here.,” said Kalama times break even, what Kim calls Kim, principal broker for Coldwell “distressed with equity.” Banker Pacific Properties and cur“It is a good market,” Lynch said. rent president of the Honolulu Board “There are a ton of homeowners of Realtors. avoiding this end result, or forecloBut RealtyTrac reports that foresure, because of the fact that they closure activity in Hawaii rose durcooperate and do the short sale.”
27
JULY 22, 2016
List Sotheby’s International Realty Island Sotheby’s International Realty MacArthur Sotheby’s International Realty
HAWAII AFFILIATES List Sotheby’s International Realty
Island Sotheby’s International Realty
MacArthur Sotheby’s International Realty
Dianne Willoughby (R)
Wendy R. Peterson R(S)
Kelly Valenzuela R(S)
808.347.9945
808.870.4114
808.936.1991
Lailan L. Bento R(S) 808.936.1800
68-003 Laau Paina Pl | Waialua
3576 Lower Kula Rd. | Kula
73-4671 Kahualani Rd | Kailua-Kona
Chris Friese (R) & Dawn Marie (R)
Becky Hanna R(B)
Rob Decker R(S)
808.722.5777
808.870.0964
808.895.6007
51-244 Kamehameha Hwy | Kaaawa
1651 Naalae Road | Kula
Rose Medina Kemna (RA)
Karla Aguera R(S)
808.497.7673
808.669.1188
59-329 Welina Pl | Kamuela
Rebecca HirschKeliihoomalu R(B) Senior VP 808.895.1156
133 Makaweli Street | Honolulu
Honoapiilani Highway | Napili
62-2207 Ouli St | Kamuela
Kimm M. Hirahara (R)
Mino McLean R(B)
Margery Mayo R(B)
808.206.4639
808.283.9613
808.987.6385
1088 Bishop Street | Honolulu
100 Apuwai St. | Haiku
Jeffrey M. Fox (R)
Patricia Chaney R(B)
808.292.5333
808.280.2625
69-1778 Puako Beach Dr | Kamuela
Deborah A. Au Principal Broker 808.987.8753
3721 Poka Place | Honolulu
114 Kahala Place | Kula
67-1117 Alulike Rd | Kamuela
Home of the Day is a new feature presented by Pacific Business News and Sotheby’s International Realty Hawaii Affiliates. This is your invitation to view some of Hawaii’s most-luxurious properties for sale. Come view new featured properties every day! PAC I F I C B U S I N E S S N E WS .C O M / H O M EO F T H E DAY
28
PACIFIC BUSINESS NEWS
PAID ADVERTISEMENT
SPOTLIGHT ON HOME LOANS
IS HAWAII’S REAL ESTATE MARKET MOVING FASTER THAN YOU ARE? 413,000. That was the median price of an Oahu condominium in June – up 22% from $338,500. Single-family home prices are also skyrocketing – up 9% from $700,000 to $760,000. Note that median price means half the condos and homes sold for less, and half sold for more. In fact, in slightly less than half of Oahu’s fifteen markets, the median sales price topped $1 million. Not only are prices up, so is demand. With both inventory and interest rates at historically low levels, competition for Oahu properties is intensifying. What that means for prospective buyers is fewer remaining properties and more multiple-offer situations. During the first quarter of 2016, over one in four condos sold above their bidding price when compared to the first quarter of 2015. Even as prices rise, the number of days a home or condo priced under $1 million stays on the market has dropped. If you are planning to move soon, Compass Home Loans President Jon Whittington strongly suggests starting now by getting credit approved for a home loan. “While they might sound like the same thing, a pre-qualification is different than a credit approval,” explains Mr. Whittington. “Getting pre-qualified is actually the first step to a credit approval.” A pre-qualification can usually be accomplished quickly with the prospective home buyer
supplying their income and assets along with their debts.
quicker and more efficient process once you enter a purchase contract.”
“Just remember, pre-qualification is a ballpark, not the bottom line,” adds Executive Vice President, Andrew Kim. “It gives us a framework to talk about our client’s goals and the loan options that will best work for them.” Getting your credit approval is the next step. A credit approval involves an analysis of the potential buyer’s credit report, completion of a mortgage application, and credit checks to determine the specific mortgage amount for which the client is approved. Pre-qualifications are typically completed by a loan officer, but credit approvals are issued by an underwriter.
In today’s market the ability to move quickly is often key to determining whether a client will move at all. “Sellers want to know that their potential buyer is rock solid. By confirming that, our PTD loan makes buyers more attractive in today’s competitive market. And it’s only one of the many ways Compass is expediting the home buying process,” concluded Mr. Kim. For more information on how Compass Home Loans can help you stay ahead of today’s fast-moving market, visit CompassHawaii.com or call 808-518-3650.
Getting credit approved is more thorough, and it does take additional time. But Compass Home Loans offers you the option to secure your credit approval while you are shopping for your home. “In today’s market those extra weeks can mean the difference between getting into your dream home or getting kicked to the curb,” Mr. Whittington explained. “That’s why we offer what we call a PTD, or ‘prior to docs,’ loan.” Compass recommends buyers start the PTD loan process before they start shopping for a property. As Mr. Kim says, “It’s always better to get your loan before you get your home. With a PTD loan we can assure binding credit approval before you find your property, which makes for a
Compass Home Loans, LLC – Company NMLS #1194719 – is a A full-service, Honolulu-based mortgage banking company that provides home financing for all major Hawaiian Islands. Their main office is located at 1357 Kapiolani Blvd, Suite 1450, and their Pearlridge branch office is at 98-167 Kaonohi Street Suite 75-02. Their website is CompassHawaii.com. Compass Home Loans, LLC is licensed as a Hawaii Mortgage Loan Originator Company and a sponsored third party originator authorized to originate FHA and VA loans. NMLS# 1194719 (www.nmlsconsumeraccess.org). Compass Home Loans, LLC is regulated by the Hawaii Division of Financial Institutions, and offers many loan products. Contact a Compass Home Loans Representative to learn more. This is not a commitment to lend. 2016 Compass Home Loans, LLC. All Rights Reserved.
THERE IS SOMEONE WHO CAN GET INTO A HOUSE FASTER.
BUT HE ONLY WORKS ONE NIGHT A YEAR. We’ve been working hard to put Hawaii residents into homes since we launched Compass Home Loans, LLC in April of 2014. How? By putting our clients first – literally. Not just in terms of providing great customer service, but first in line among buyers competing for the same property. Kind of like the man in the red suit, we have a big bag of goodies to help make that happen. Take our PTD loan for example. PTD stands for “prior to docs.” While many
stop at getting their clients “pre qualified” for a loan approval, our PTD loan puts Compass clients as many as 20 days closer to their closing. This is just one example of far we go, and how fast we can move. Here’s another. For a limited time we’re offering a free home appraisal for buyers who qualify for a home loan. With interest rates near historic lows, and a free appraisal worth $695*, this is a great time to move. But move fast, as this offer is only good through the end of summer. For more information visit us at compasshawaii.com or call 808-518-3650.
*Offer valid on purchase transactions to borrowers that apply for a mortgage loan with Compass Home Loans, LLC before August 31, 2016 and subsequently close that loan with Compass Home Loans. Loans must record no later than 11/30/2016 and may not be brokered to another lender. Home appraisal must be paid by borrower at the time appraisal is ordered and will be reimbursed at time of loan closing at a value not to exceed $695. Investor, 2-4 family, jumbo, or remote properties will result in additional appraisal costs for the borrower. May not be available with certain loan products. Call for information and to obtain a quote specific to your situation. This is not a credit decision, an offer, or a commitment to lend. Your rate, fees, and other terms will depend on various factors including loan product, credit profile, property value, occupancy, loan size, etc. Rates and program availability may vary based on the state or region in which the financed property is located. Compass Home Loans, LLC is licensed as a Hawaii Mortgage Loan Originator Company and a sponsored third party originator authorized to originate FHA and VA loans. NMLS# 1194719 (www.nmlsconsumeraccess.org). Compass Home Loans, LLC is regulated by the Hawaii Division of Financial Institutions, and offers many loan products. Contact a Compass Home Loans Representative to learn more. This is not a commitment to lend. 2016 Compass Home Loans, LLC. All Rights Reserved.
29
JULY 22, 2016
Compiled by Lucy Tuitupou 808-955-8037, @pbnresearch ltuitupou@bizjournals.com
REAL ESTATE FIRMS, RESIDENTIAL - PAGE 1 RANKED BY 2015 GROSS RESIDENTIAL SALES VOLUME Business Name / 2015 Rank (* did not previously rank) Website
1
Coldwell Banker Pacific Properties
2
Locations
3
Hawaii Life Real Estate Brokers
4
Century 21 All Islands
5
Elite Pacific Properties
6
Coldwell Banker Island Properties
7
Keller Williams Honolulu
8
Better Homes and Gardens Real Estate Advantage Realty 8
9
List Sotheby's International Realty
10
Clark Realty Corp.
11
Island Sotheby's International Realty
12
East Oahu Realty Inc.
13
RE/MAX Honolulu
14
Wailea Realty Corp.
15
Mauna Kea Realty maunakearealty.com
*
16
The Wailea Group
19
17
MacArthur Sotheby's International Realty
18
Sachi Hawaii-Pacific Century Properties
19
Whalers Realty Inc.
20
Carvill Sotheby's International Realty
21
Coldwell Banker Bali Hai Realty Inc.
22
Coldwell Banker Makai Properties
23
Marcus and Associates Inc.
24
Help-U-Sell Honolulu Properties
25
Jeffrey Samuels Real Estate Services
2
coldwellbankerhomes.com 1
locationshawaii.com
hawaiilife.com
3
4
hawaiimoves.com
elitepacific.com
10
islandproperties.com
kw.com
5
6
betterhawaii.com
7
listsothebysrealty.com
9
clarkhawaii.com
islandsothebysrealty.com
eastoahu.com
wailearealty.com
thewaileagroup.com
15
11
14
movetohawaii.com
13
bigislandreale.com
sachihawaii.com
whalersrealty.com
18
33
carvillsir.com
balihai.com
makaiproperties.com
marcusrealty.com
23
*
24
hushawaii.com
jeffreysamuels.com
NOTES: NA - not applicable, not available or not approved.
2015 Gross Residential Sales
Residential Sales Closed in 2015
1314 S. King St., 2nd Fl. Honolulu, HI 96814 808-597-5550
$1.59 billion
2,401
614 Kapahulu Ave., #200 Honolulu, HI 96815 808-735-4200
$1.57 billion
2,766
P.O. Box 356 Hanalei, HI 96714 800-667-5028
$706.96 million
894
1580 Makaloa Street, #500 Honolulu, HI 96814 808-551-2100
$618.92 million
1,192
4211 Waialae Ave., #106 Honolulu, HI 96816 808-589-2040
$541.47 million
704
Paul Mayer, Managing Partner paul@elitepacific.com
100 Wailea Ike Dr., #6 Wailea, HI 96753 808-875-7000
$521.36 million
646
Robert Cella, President bob@bobcella.com Douglas Fitch, VP fitch@maui.net
1347 Kapiolani Blvd., #300 Honolulu, HI 96814 808-386-9961
$484.67 million
871
Kevin Miyama, CEO kmiyama@kw.com
Kahala Mall Upper Level Honolulu, HI 96816 808-738-3600
$449.52 million
588
Myron Kiriu, CEO/Owner Kevin Inn, President kevini@betterhawaii.com
4211 Waialae Ave., #100 Honolulu, HI 96816 808-735-2411
$412.84 million
661
Myra Brandt, Principal Broker myra@brandts.com
75-5722 Kuakini Hwy., #203/204 Kailua-Kona, HI 96740 808-329-5255
$333.21 million
1,159
Frank Goodale, President fgoodale@clarkhawaii.com
3628 Baldwin Ave. Makawao, HI 96768 808-572-8600
$225.75 million
282
Paul MacLaughlin, Principal Broker/Owner paul@islandsir.com
6600 Kalanianaole Hwy., #114 Honolulu, HI 96825 808-396-2000
$212.24 million
303
Cherie Tsukamoto, Principal Broker cherie.tsukamoto@eastoahu.com Kimberly Soares, EVP kim.soares@eastoahu.com
1357 Kapiolani Blvd., #870 Honolulu, HI 96814 808-951-3200
$205.92 million
357
John Harris, Broker/Owner john@movetohawaii.com
3750 Wailea Alanui, #B-16 Wailea, HI 96753 808-879-1991
$181.18 million
213
Brad MacArthur, Owner/Principal Broker brad@wailearealty.com Tom Tezak, Co-Owner/Broker-in-Charge tom@tomtezak.com
62-100 Mauna Kea Beach Dr. Kamuela, HI 96743 808-882-5600
$164.29 million
72
Stephen Hurwitz, Principal/Broker in Charge
3750 Wailea Alanui, #5EW Wailea, HI 96753 808-875-6911
$148.22 million
82
Rene Sands, COO rene@thewaileagroup.com
65-1279 Kawaihae Rd., #104 Kamuela, HI 96743 808-885-8885
$136.66 million
237
Dodie MacArthur, Owner/CEO Deborah Au, Principal Broker/President
88 Piikoi St., #301 Honolulu, HI 96814 808-596-8801
$132.78 million
142
2435 Kaanapali Pkwy., #A-3 Lahaina, HI 96761 808-661-8777
$108.65 million
113
970 N. Kalaheo Ave., #A100 Kailua, HI 96734 808-263-5900
$106.22 million
105
5-5088 Kuhio Hwy. Hanalei, HI 96714 808-826-7244
$102.96 million
82
1941B Poipu Rd. Koloa, HI 96756 8089778238
$98.95 million
143
1045 Mapunapuna St. Honolulu, HI 96819 808-839-7446
$98.53 million
159
Dale Nishikawa, CEO
1314 S. King St., #523 Honolulu, HI 96814 808-377-1200
$96.25 million
166
Richard Cricchio, President richardcricchio@helpusell.com Sungok Lee Cricchio, VP monicalee@helpusell.com
1833 Kalakaua Ave., #400 Honolulu, HI 96815 8082210557
$89.12 million
157
Jeffrey Samuels, President
Address Phone
22
26
21
17
Top Local Executive(s) Mike James, President mikej@cbpacific.com William Chee, CEO bill.chee@locationshawaii.com Scott Higashi, EVP scott.higashi@locationshawaii.com Matt Beall, President/Principal Broker matt@hawaiilife.com Justin Britt, Head-Web-Head/Owner Winston Welborn, Creative Director/Owner James Wright, President/CEO james.wright@hawaiimoves.com Cheryl Dillon, EVP/CFO cheryl.dillon@hawaiimoves.com
Sachiyo Braden, President/Principal Broker sachi@sachihawaii.com Chikako Tomita, VP/Broker-in-Charge chikako@sachihawaii.com Robert Cartwright, President/Principal Broker bob@whalersrealty.com Teresa Cartwright, VP tess@vacation-maui.com Scott Carvill, Owner/Broker scott@carvillsir.com John Ferry, President/Owner jcf@balihai.com Michael Schmidt, Principal Broker michael@balihai.com Richard Shaw, Co-owner/Principal Broker info@makaiproperties.com Kelly Liberatore, Co-Owner/Broker kelly@makaiproperties.com Roberta Charles, Co-owner
R CLOSER
LOOK
ABOUT THE LIST Information was obtained from firm representatives. Information on The List was supplied by individual companies through questionnaires, phone interviews, company websites and could not be independently verified by the Pacific Business News. Only those that responded to our inquiries were listed. NEED A COPY OF THE LIST? Information for obtaining reprints, web permissions and commemorative plaques, call 877-3975134. More information can be found online at PacificBusinessNews.com by clicking the “Store” tab near the top of the site. WANT TO BE ON THE LIST? If you wish to be surveyed when The List is next updated, or if you wish to be considered for other Lists, email your contact information to Lucy Tuitupou at ltuitupou@ bizjournals.com.
30
PACIFIC BUSINESS NEWS
Compiled by Lucy Tuitupou 808-955-8037, @pbnresearch ltuitupou@bizjournals.com
REAL ESTATE FIRMS, RESIDENTIAL - PAGE 2 RANKED BY 2015 GROSS RESIDENTIAL SALES VOLUME Business Name / 2015 Rank (* did not previously rank) Website
26
Five Star Realty Inc.
27
Maui Real Estate Advisors
28
Savio Realty Ltd.
12
29
Kauai Realty Inc.
32
30
Properties of the Pacific
31
Island, REALTORS
32
Sakamoto Properties Ltd.
33
Mauna Lani Realty Inc.
34
Benn Pacific Group Inc.
35
Stott Real Estate Inc.
36
Coldwell Banker Day-Lum Properties Inc.
37
HomeQuest, Realtors
38
Windermere/C and H Properties Inc.
39
Jack Tyrrell & Co. Inc.
40
Aloha Pacific Properites
41
Destination Maui Inc.
42
Wailea Point Realty
43
Trinity Properties
44
Makena Wailea Real Estate Inc.
45
Realty Edge Inc.
46
Kona Resort Properties
47
Aska Estate Hawaii Inc. dba Myland Hawaii Realty *
48
Kokua Realty
49
O'Connor Realty
50
Hawaiian Isle Real Estate
27
fivestarrealtyhawaii.com
26
mauirealestateadvisors.com
savio.com
kauai-realty.com
40
propertiesofthepacific.com
34
irhawaii.com
25
sakamotoproperties.com
37
maunalanirealty.com
bennpacific.com
stott.com
30
42
daylum.com
homequesthawaii.com
jtchawaii.com
waileapoint.com
*
*
*
44
trinityproperties.com
makenawailea.com
45
mylandhawaii.com
oconnor-hawaii.com
*
43
go2kona.com
kokuarealty.com
20
36
alohapac.com
destinationmauirealty.com
38
35
chproproperties.com
47
*
hawaiirealestatedreams.com
50
NOTES: NA - not applicable, not available or not approved.
2015 Gross Residential Sales
Residential Sales Closed in 2015
250 Ward Ave., #230 Honolulu, HI 96814 808-382-6871
$84.2 million
106
161 Wailea Ike Pl., #A-102 Wailea, HI 96753 808-875-4444
$81.34 million
95
162 Kinoole St., #201 Hilo, HI 96720 808-934-7300
$80.58 million
469
2970 Kress St. Lihue, HI 96766 808-639-3414
$68.37 million
164
Eric Yama, Principal Broker/VP eric@ericyama.com
3615 Harding Ave., #203 Honolulu, HI 96816 808-733-0722
$66 million
80
Sharon Au, Principal Broker/Co-owner au@popaloha.com
2138 Algaroba St. Honolulu, HI 96826 808-687-8000
$65.91 million
133
Scott Fujiwara, Realtor/Principal Broker scott.fujiwara@irhawaii.com
5095 Napilihau St., #203 Lahaina, HI 96761 808-669-0070
$62.93 million
52
Roy Sakamoto, President roy@sakamotoproperties.com Betty Sakamoto, VP emailme@maui.net
68-1400 Mauna Lani Dr., #108 Kohala Coast, HI 96743 808-885-6688
$57.6 million
25
Madelene Robinson, VP/Treasurer
1585 Kapiolani Blvd., #1040 Honolulu, HI 96814 808-548-2366
$57.38 million
78
Rae Ifuku Benn, VP rae@bennpacific.com Trevor Benn, President/Principal Broker trevor@bennpacific.com
970 N. Kalaheo Ave., #C114 Kailua, HI 96734 808-254-1515
$51.58 million
85
Tracey Stott-Kelley, President Tim Kelley, Principal Broker timkelley@stott.com
2 Kamehameha Ave. Hilo, HI 96720 808-935-0399
$46.7 million
270
Nancy Cabral, President/Owner nancyc@daylum.com
151 Hekili St., #220 Kailua, HI 96734 808-261-1470
$44.82 million
67
Lynn Wells, Principal Broker/Co-owner lynnwells@hawaii.rr.com
75-5919 Walua Rd. Kailua-Kona, HI 96740 808-329-2601
$41.53 million
72
Lisa Barry Cindy Wild, Principal Brokers cindyinkona@gmail.com
410 Atkinson Dr., #1F6 Honolulu, HI 96814 808-532-3330
$38.5 million
47
John "Jack" Tyrrell, President/Principal Broker jack.tyrrell@jtchawaii.com
98-211 Pali Momi St., #402 Aiea, HI 96701 808-487-0050
$34.41 million
60
David Baquiran, President/Principal Broker david@alohapac.com
220 Imi Kala St., #104 Wailuku, HI 96793 808-244-9021
$32.41 million
6
Ronald Kawahara, President rak@mauicpa.net
2439 S. Kihei Rd., #201B Kihei, HI 96753 180887972331
$28.96 million
12
1907 Awapuhi St. Honolulu, HI 96822 808-247-7521
$27.21 million
19
161 Wailea Ike Pl., #B-106 Kihei, HI 96753 808-891-2900
$27.18 million
30
John Ferguson, Owner johnf@makenawailea.com
1655 Makaloa St., Penthouse-2701B Honolulu, HI 96814 808-951-8888
$25.56 million
47
Wallace Akamine, President Gary Alan Tanaka, VP garytanaka1@gmail.com Neal Tachibana, Realtor/VP nealtachi@gmail.com
75-5744 Alii Dr., #31 Kailua-Kona, HI 96740 808-326-7818
$24.7 million
65
Robert Myers, Broker/Owner Robert@MauiHomeSales.com
2270 Kalakaua Ave., #1508 Honolulu, HI 96815 808-922-2996
$22.01 million
27
Kazuhiko Udagawa, VP/Principal Broker kcudagawa@mylandhawaii.com Sal Miwa, Chairman/CEO smiwa@mylandhawaii.com
296 Alamaha St., #A Kahului, HI 96732 808-877-9000
$16.3 million
2
Keoni Fursse, Principal Broker/CEO keoni@kokuarealty.com
4244 Kilauea Rd. Kilauea, HI 96754 808-828-1464
$12.67 million
11
James R. O'Connor, Owner joc@oconnor-hawaii.com
75-5995 Kuakini Hwy., #521 Kailua-Kona, HI 96740 808-329-5667
$12.07 million
32
Gretchen Osgood, Principal Broker gretchen@hawaiianisle.net
Address Phone
Top Local Executive(s) Vincent Lao, President/Principal Broker vincentlao168@yahoo.com Robert "Robbie" Dein, Realtor-Broker/Owner robbie@4mauirealestate.com Kenneth 'Ken' Hayo, Principal Broker ken@mauirealestateadvisors.com Peter Savio, President peters@hihltd.com Dana Kenny, Principal Broker danak@savio.com
Dave Wagner, Principal Broker dave@waileapoint.com Judy Gray, Broker-in-Charge judy@waileapoint.com Annie Kwock, Broker/Owner Julie Mercer, Director of finance Claudia Evenschor, Director of Estate Management
R CLOSER
LOOK
ABOUT THE LIST Information was obtained from firm representatives. Information on The List was supplied by individual companies through questionnaires, phone interviews, company websites and could not be independently verified by the Pacific Business News. Only those that responded to our inquiries were listed. NEED A COPY OF THE LIST? Information for obtaining reprints, web permissions and commemorative plaques, call 877-3975134. More information can be found online at PacificBusinessNews.com by clicking the “Store” tab near the top of the site. WANT TO BE ON THE LIST? If you wish to be surveyed when The List is next updated, or if you wish to be considered for other Lists, email your contact information to Lucy Tuitupou at ltuitupou@ bizjournals.com.
31
JULY 22, 2016
98%
of customers would recommend Locations to their friends & family
10,000+ Local Property Listings
275+ Dedicated, Full-Time Agents
The Most Trusted Name in Real Estate. We are proud and honored that more home buyers and sellers have chosen Locations than any other real estate company in Hawaii since 1969. Our dedicated Agents think about each member of your ‘ohana and provide you with neighborhood insights needed to make an informed decision about your home. We help you navigate the marketplace with confidence knowing that our local expertise is serving you every step of the way. Connect with us at LocationsHawaii.com, Hawaii’s resource for the latest local real estate listings, trends and research reports. With Locations on your team, you can relax and enjoy life’s special moments.
(808) 377-4621
Search for Your New Home LocationsHawaii.com RB-17095
32
PACIFIC BUSINESS NEWS
TRENDING IN RESIDENTIAL
WHAT ARE THE UP-AND-COMING HOME TRENDS THAT BUYERS ARE ASKING FOR? QUESTIONS AND DATA COMPILED BY PBN RESEARCHER LUCY TUITUPOU “Green, efficient homes with easy access to shops, restaurants, bars and recreation. Millenials want to work and play where they live.”
“Condos with complete amenities, especially concierge services.”
GINNY TRAVIS,
Tyrrell & Co. Inc.
East Oahu Realty Inc.
JOHN “JACK” TYRRELL, Jack
“Buyers are looking for homes that can accommodate extended families or have added rentals/ rental potential. If a lot is big enough to allow for a second home to be built that’s a huge selling plus.”
“Currently, buyers are still looking for the right priced property in a specific location.” REX AKUTAGAWA,
Aska Estate Hawaii Inc. dba Myland Hawaii Realty
“They no longer want fixer uppers, they want new, shiny and clean properties.” GRETCHEN OSGOOD,
“Tiny homes.” NANCY CABRAL,
Coldwell Banker Day-Lum Properties Inc.
Hawaiian Isle Real Estate
“Electronics (smart home type that can be controlled from off-site).”
“Vintage looks made modern, i.e. mid-century modern homes from the ‘50s and ‘60s updated with refurbished/ repurposed furniture and home features - sewing nooks, built-ins, etc. More space for wine caves/fridges in kitchen and pantry areas.”
ROY SAKAMOTO,
Sakamoto Properties Ltd.
LYNN WELLS,
HomeQuest, Realtors
JOHN HARRIS,
RE/MAX Honolulu
HIRING ABOUT HOW MANY REAL ESTATE AGENTS DO YOU EXPECT TO ADD TO YOUR STAFF IN 2017?
5 or fewer
RRHelp-U-Sell Honolulu Properties RRKauai Realty Inc.
TOP 10 BUSINESSES
TOTAL RESIDENTIAL SALES CLOSED IN 2015
3,000
2,766 2,500
2,401
2,000
RRColdwell Banker Bali Hai Realty Inc. RRThe Ihara Team - Keller Williams Honolulu
1,500
RRThe Wailea Group RRDestination Maui Inc. RRAska Estate Hawaii Inc. dba Myland Hawaii Realty RRWailea Realty Corp. RRProperties of the Pacific
1,159 1,000
894
871
704
500
661
588
469
RRHawaiian Isle Real Estate 0
RRHomeQuest, Realtors
RRTrinity Properties RRMauna Kea Realty
LO
RRWhalers Realty Inc.
CA TI
RRMaui Real Estate Advisors
ON C SL PA OLD LC CI FI WEL C PR L B OP AN ER KE TI R CL ES AR K RE AL TY CO RP HA . ES WA TA II L TE IF BR E R OK EA ER L KE S LL ER W HO ILL NO IAM LU S LU EL IT E PR P OP AC ER IFIC TI LIS ES IN T S TE O RN TH AT EB IO Y RE NA ’S AN B AL L TY ES D G ETT TA AR ER TE D H AD ENS OM VA R ES N EA RE TAG L SA AL E VI O TY RE AL TY RE LT /M D. AX HO NO LU LU
RRColdwell Banker Day-Lum Properties Inc.
357
RRIsland, REALTORS RRWindermere/C and H Properties Inc.
6-10
RRKokua Realty
TOP 10 BUSINESSES
RRMacArthur Sotheby’s International Realty
MOST AGENTS AND LOCATIONS STATEWIDE
RRList Sotheby’s International Realty RRO’Connor Realty
Agents
Locations
6. Clark Realty Corp.
147
6
7
7. Better Homes and Gardens Real Estate Advantage Realty
126
5
267
4
8. East Oahu Realty Inc.
84
1
4. Hawaii Life Real Estate Brokers
220
13
9. List Sotheby’s International Realty
81
1
5. Elite Pacific Properties
167
7
10. Island Sotheby’s International Realty
78
3
11-20
Business
Agents
Locations
RRRE/MAX Honolulu
1. Coldwell Banker Pacific Properties
406
5
RRClark Realty Corp.
2. Locations LLC
303
More than 20
3. Keller Williams Honolulu
RRBetter Homes and Gardens Real Estate Advantage Realty
RRLocations LLC
Business
33
JULY 22, 2016
WHEN SHOWING...
WHAT ARE SOME OF THE STRANGEST THINGS HOMEOWNERS HAVE LEFT BEHIND? CENSORED “A bong.” JEFFREY SAMUELS,
Jeffrey Samuels Real Estate Services
“Pets! Yes, people have abandoned their cats upon moving. We’ve also had cars, furniture, surfboards, and food left behind!”
“A pet turtle roaming outside of an enclosed lanai.”
“You don’t want to know.”
ADRIENNE LALLY,
Coldwell Banker Day-Lum Properties Inc.
NANCY CABRAL,
Keller Williams Honolulu
“A motorcycle in the kitchen and a couple in bed together.” MICHELLE CHEUNG,
“A pet pig in the garage.” LYNN WELLS,
HomeQuest, Realtors
“Nude photos; used pet diapers.”
“Adult toys.”
TARA-LYNN KAHAIALII,
Hawaiian Isle Real Estate
Whalers Realty Inc.
Locations LLC
GRETCHEN OSGOOD,
CINDY WILD,
Windermere/ C and H Properties Inc.
GINNY TRAVIS,
East Oahu Realty Inc.
TOP 10 PRICE TAGS
MOST EXPENSIVE SINGLE-FAMILY HOMES SOLD IN 2015 BY FIRMS ON THE LIST And each of the top 10 firms’ average selling price for single-family homes
$26.5M MAUNA
KEA REA
EAL LIFE R ERS I I A W HA TE BROK ESTA
LTY
$20M
,926 : $876
e price Averag
Average pr
ice: $2.3 4 Million
COLDWELL BANKER PACIFIC PROPERTIES
WAILEA REALTY CORP.
KELLER WILLIAMS HONOLULU
$15.2M
$14.5M
Average price: $661,700
Average price: $848,000
STOTT REAL ESTATE INC.
COLDWELL BANKER BALI HAI REALTY INC.
THE WAILEA GROUP
$12.32M $11.5M
$10.5M
$10M
$9.75M $8.5M
Average price: $557,000
Average price: $606,856
Average price: $576,614
Average price: $740,772
LOCATIONS LLC
Average price: $810,550
LIST SOTHEBY’S INTERNATIONAL REALTY
Average price: $673,962
BUSINESSES ON THE LIST
TOP 5 ZIP CODES IN 2015, IN TERMS OF SALES DOLLARS Each business on the list was asked to name their top 3. Thirty two of the businesses answered. These ZIP codes were the 5 most frequent.
96825
HAWAII KAI (OAHU)
96753 KIHEI (MAUI)
96740
KAILUA-KONA (BIG ISLAND)
96816
KAIMUKI-KAHALA (OAHU)
96743
WAIMEA (BIG ISLAND)
34
PACIFIC BUSINESS NEWS
Every stepping stone should lead to a milestone.
Member FDIC
FHIB-30579 R11_1-header_9-25x0-4_final.indd 1
7/15/16 4:13 PM
PEOPLE ON THE MOVE
Ad Number: FHIB-30579 R11 Ad Subject: 2016 People on the Move Sponsorship NSP Ad Size/Color: Header, Microbar, 9.25” x .04”; 4C Publication: Pacific Business News, 7/22/16
R REAL
ESTATE
Clint Lacaden
Larry Lau
R LAW
Leona Tafiti
HomeStreet Bank hired Clint Lacaden, Larry Lau and Leona Tafiti as loan officers
R ENERGY
Luis Hernandez
R HEALTH
Ellyse Mazzi
OpTerra Energy Services hired Luis Hernandez as a field engineer and hired Ellyse Mazzi as a project manager
R HOW
TO SUBMIT
Submit People on the Move online at PacificBusinessNews.com/ people We welcome information about any Hawaii-based businessperson. Include name, title, company, location and a photo of the person, along with a company contact name, email address and phone number in case additional information is needed. You must send a photo to be considered for print publication. The photos must be highresolution, color JPGs minimum 200 dpi in size.
Erik Covarrubias
Soo Park
Bryan Miyamoto
Jason Subt
David Gruebner
Erik Covarrubias joined Honolulu Property Management as a property manager
Soo Park joined Locations LLC as a Realtor
Bryan Miyamoto joined Compass Home Loans LLC as a mortgage loan originator
Jason Subt joined Hawaii Life Real Estate Brokers LLC as a Realtor salesperson
David Gruebner joined Goodsill Anderson Quinn & Stifel as a partner
CARE
R NONPROFITS
Stacey Acma
Phil Padilla
Stacey Acma joined Rehabilitation Hospital of the Pacific as executive director
Kahala Nui hired Phil Padilla as Hiolani Care Center director of assisted living and memory support and hired Kelly Penn as Hiolani Care Center lifestyles director
R CORPORATE
Kelly Penn
R ELECTIONS
CITIZENSHIP
BOYS & GIRLS CLUB HAWAII Architects Hawaii Ltd.’s James Hoapili and Celeste Matsuwaka recently completed a yearlong renovation of the nonprofit’s Spalding Clubhouse gym in Honolulu as part of the firm’s 1 percent pro bono program. The Rotary Club of Honolulu donated $150,000 for the project to upgrade the 4,390-square-foot gym, which now has a new floor, ceiling fans, tip and roll bleachers and new judo mats and wall strap system. InSynergy Engineering, MKE Associates, LLC, and CBRE also contributed to the project.
Maricris Mangasi Maricris Mangasi joined Hawaii Family Dental Centers as a general dentist in the Hilo office
Rob Anderson joined the American Cancer Society Inc. as manager of Hope Lodge
Johnathan Allen Casey Johnathan Allen Casey joined Waikiki Aquarium as an aquarium biologist – disease and quarantine specialist
& ACCOLADES
KRISTA GROOTHUIS LLC Owner Krista Groothuis has received an Accreditation in Public Relations credential from the Public Relations Society of America STORIEOLOGY COMMUNICATIONS Founder Christina Yumul has received an Accreditation in Public Relations credential from the Public Relations Society of America HAWAII PUBLIC RADIO The Association for Women in Communications awarded a 2016 Clarion Award for the weeklong series on homelessness produced by HPR’s talk show “The Conversation,” co-
Whatever your milestone, let’s together.
Rob Anderson
hosted and executive produced by Beth-Ann Kozlovich ELITE PACIFIC PROPERTIES Realtor Munro Murdock received his real estate broker license COLDWELL BANKER PACIFIC PROPERTIES Top producers for June: Beth Chang, overall producer; Melinda Pinter, salesperson; Jackie Oldbury, listor HAWAII PREPARATORY ACADEMY BOARD OF TRUSTEES Scott Bradley is the new chairman of the board
IT ALL STARTS WITH YES.
FHIB-30579 R11_2-footer_9-25x1-35_final.indd 1
Member FDIC 7/15/16 4:16 PM
35
JULY 22, 2016
ENTREPRENEUR HOW I...
I started a furniture business SAVAN PATEL, PRESIDENT AND MANAGING PRINCIPAL OF INFINIUM INTERIORS INC. As told to PBN reporter Kathleen Gallagher Part of the reason for starting the firm, quite frankly, was out of spite, and also the fact there was a substantial market inefficiency that I thought of as an opportunity. I worked at a local commercial furniture dealer, and things were not working out very well. I felt there was much more that we could have been doing for our clients as well as growing the company. Although a good learning experience, it was not the right fit. I literally woke up in the middle of the night after leaving my previous job, and the name and logo came to mind. I started doodling around on a variety of sketches for the logo as well as the impact that we would want to make. Mind you, I was halfway through completing my MBA, so in some sense, I thought the timing was not the greatest. However, I quickly realized it was the best time since I had an incredible amount of resources at my disposal to start a business as well as developing an adequate business plan. A majority of the course work dealt with operating within larger organizations, albeit we did have an entrepreneurship course that helped me understand the startup phase much better. I was able to research a majority of the processes on my own. The biggest challenge [of starting the business] was understanding the business structure that would work best based on the type of company we would be over the longterm. Meaning, some structures are good for businesses that do not necessarily require outside funding or that have minimal capital outlay costs, whereas others may require a different structure due to the level of outside investment required. The company has been selffunded from the very start, initially with a transfer of my retirement savings into the business. The biggest challenge was realizing that I was essentially rolling the dice and a nest egg that I built for my future was substantially diminished. Infinium Interiors for me was never a
TINA YUEN
R CLOSER
LOOK
SAVAN PATEL President/Managing Principal Infinium Interiors Inc. Address: 850 Mililani St., 2nd Floor, Honolulu, HI 96813 Phone: 808-777-5490 Website: infinium-interiors.com
short-term play, I would have to be in it for the long haul to reap any substantial personal financial gain. My goal first and foremost was to make the company a longterm player in our industry and gain a substantial market share within our first five years. More importantly, we wanted to be an enduring company that holds deep-seated values in helping versus simply selling our products. First and foremost, we are consultants versus a typical dealer that sells office furniture.
We truly want to understand an organization; what they do, how they operate, the type of people that make up the organization and, most importantly, what is important to them. From there, we start to have a deeper conversation of why they are looking to redevelop, renovate, move offices, etc. The “why” not only helps us better understand the organization, it gives a deeper understanding of where the organization is going. This is important, as it allows us to design a space plan and concept that correlates to the future of the organization. As the conversation matures and we provide a viable space plan solution to the customer, we delve into a discussion of the type of product mix (type of products that would work best now that they have a better understanding of the overall design theme). We educate our clients on the long-
term cost of ownership or total cost of ownership. In short, office furniture costs can get out of hand very quickly, so the conversation revolves around the cost that a company bears today can either be substantially more or less over the long term. Our goal, always, is to ensure we minimize the organization’s long-term cost of ownership by providing the quality, durability and flexibility that will last a lifetime. We’ve been fortunate with a variety of opportunities the past few years and worked with some of Hawaii’s most forward-thinking companies. Our proudest would have to be the relationship we have forged with JN Group. Specifically, we assisted with the design, space planning and furniture of their Cycle City location expansion, as well as Velocity which will be located on the street level of the Symphony Honolulu residential tower.
36
PACIFIC BUSINESS NEWS
LEADS
Information to build your business R Business in the making NEW DOMESTIC CORPORATIONS Domestic Limited Liability Company (LLC) 47-462 Lulani Street LLC, 6800 Kalanianaole Highway Suite 102, Honolulu 96825. 50th State LLC, Nicholas Ramos, 4759 Moa St., Honolulu 96816. 676 Elepaio LLC, Lynn Yuasa, 1021 Iiwi St., Honolulu 96816. 808 Small Business Consultants LLC, 16-2120 Moho Road, Kurtistown 96760. AAAC Engineering LLC, Allan Simeon, P.O. Box 1973, Keaau 96749. ACS Consulting LLC, Aileen Steele, 75-234 Nani Kailua Drive, Kailua-Kona 96740. Advantage Carpet Care LLC, Leonid Poleshaj, 376 Ka Awakea Road, Kailua 96734. Ake Ake Professional Detailing LLC, Kelly Mankin, P.O. Box 4001, Kailua-Kona 96740. Aloha Avenue Group LLC, Dylan Cabaldon, 350 Ward Ave. Unit 106-86, Honolulu 96814. Aloha Paradise Properties LLC, P.O. Box 440, Holualoa 96725. Alpha Omega LLC, Carl Clark, 99-633 Aiea Heights Drive, Aiea 96701.
Ambrose Humidity Control System LLC, Paige Wilburn, P.O. Box 44316, Kamuela 96743. Andrea Pack International LLC, 1927 10th Ave. Unit A, Honolulu 96816. Any Kind Seafood LLC, Toby Suemoto, 99-127 Ohiakea St., Aiea 96701. Ari and Me Hawaii LLC, Jill Gomez, 95-1068 Alaoki St., Mililani 96789. Atlas Plumbing LLC, 1302 N. School St., Honolulu 96817. Awapuhi Adventures Maui LLC, Susan Fazekas, 70 Mikiola St., Makawao 96768. AYKM? LLC, Frederick Saunders, 84-740 Kili Drive Unit 522, Waianae 96792. Bamboo Shute Creations LLC, Robert Villegas, 77-6639 Walua Road, Kailua-Kona 96740. Barake LLC, Yona Edery, 440 Lewers St. Apt. 701, Honolulu 96815. Barravento LLC, Yuri Soledade, P.O. Box 486, Haiku 96768. Black Sheep Art & Accessories LLC, 1935 N. King St. Unit 206, Honolulu 96818. Bliss Photography & Videography, 1750 Kalakaua Ave. Apt. 3702, Honolulu 96826. Bliss Weddings International, 1750 Kalakaua Ave. Apt. 3702, Honolulu 96826. Blue Water Charters LLC, Micah Miles, 1206 Summer Road, Lahaina 96761.
R
Ka Laau Kauka LLC, Jerome Neal, 546 Kaaahi, Honolulu 96817.
ABOUT THIS SECTION
READER’S GUIDE The Business Leads is a collection of information gathered from Hawaii area courthouses, government offices and informational websites. We gather these public records so you can build your business. No matter what business you are in, you can gain a competitive edge by reading the Business Leads. Find new and expanding businesses and new customers. Find out the area’s commercial and residential hot spots. Find clues about the financial condition of your vendors, customers or competitors. Listings for each category may vary from week to week because of information availability and space constraints. (Note: *Indicates listings are not available for this week.)
Bojac Productions LLC, P.O. Box 26293, Honolulu 96825.
LLC, Susan Frassica, 1630 Liholiho St. Unit 1006, Honolulu 96822.
BP Crawford Restaurants LLC, P.O. Box 384215, Waikoloa 96738.
Clockwork Marketing Group LLC, Thomas McDonald, 2499 Kapiolani Blvd. Apt. 705, Honolulu 96826.
C.W.P. Handyman Services & Construction LLC, Christopher Plante, 425 N. Kalaheo Ave., Kailua 96734. Cash House Buyers LLC, Brian Tokunaga, 94-216 Kaloli Place, Waipahu 96797. Chinese Translation/ Interpreting Service
INDEX Businesses in the Making .......................................... 36,37,38 Building Permits .........................38 Court Report ..............................38 Foreclosures ........................ 38,43 Real Estate Transactions ...........43 EMAIL EDITION To buy Leads information for Hawaii and more than 40 other markets, call 877-593-4157, or see bizjournals.com/leads. The information is available on disk or via email and arrives earlier than the published version.
Destination Waikiki LLC, Steven Thompson, 201 Ohua Ave. Unit T2-1210, Honolulu 96815.
Heinrich Holdings LLC, Theresa Heinrich, 61 Pau Hana Road, Makawao 96768.
Discover Hawaii LLC, Alicia Romero, 77-6425 Kuakini Highway No. C225, Kailua-Kona 96740.
Henry K.J. Tripp LLC, 91-1035 Kealiiahonui St., Kapolei 96707.
Coco Palms Investments LLC, 1050 Bishop St. Suite 303, Honolulu 96813.
E 104 Hanalani LLC, Pete Apor, 187 Lihau St., Kapaa 96746.
Coconut Global Music LLC, 2525 Main St., Wailuku 96793.
E. Maile and Associates LLC, Earlynne Maile, 3056 E. Manoa Road, Honolulu 96822.
CPK LLC, Arthur Sullivan, 3800 Kamehameha Road Apt. 7, Princeville 96722.
Edaemtf Family Holdings LLC, P.O. Box 8001, Washington, D.C. 20032. Effleurage LLC, Irina Alarov, 67-145 Farrington Highway, Waialua 96791. Ewing De Reus LLC, 30363 N. Miller Road, Scottsdale, Ariz. 85266. Farm Maui LLC, Simon Russell, 235-A Auoli Drive, Makawao 96768. First Kaneohe LLC, 7083 Niumalu Loop, Honolulu 96825. Fit by Local Boy Sushi LLC, 46-026 Kamehameha Highway, Kaneohe 96744. Forest Development LLC, Daniel Lum, 2528 Namauu Drive, Honolulu 96817. Fulcrum LLC, 441 Kuliouou Road Apt. D, Honolulu 96821. Gansit Holdings LLC, Voltaire Gansit, 1137 Austin Lane, Honolulu 96817. Golden Rhino Management Consulting LLC, Jarod Baker, 91-2097 Kaioli St. Unit 1902, Ewa Beach 96706.
are you LinkedIn with PBN? Follow PBN on LinkedIn atLinkedIn.com/company/ pacific-business-news Breaking local news, blogs, research, pacesetters and national news at pacificbusinessnews.com
Hale Ola Pono LLC, HC2 Box 6281, Keaau 96749. Hawaii Property Showcase LLC, P.O. Box 5058, Kaneohe 96744. Hawaiian Island Resources LLC, Kenneth Bright, 5017-C Shark St., Kapolei 96707. Hawaiian Welding LLC, Michael Whaley, 47-746 Lamaula Road, Kaneohe 96744. Hawea Waipio Valley Adventure LLC, Morgan Toledo, P.O. Box 436, Honokaa 96727. HD Precision Machine Services LLC, Darren Joao, P.O. Box 637, Mountain View 96771. Healing Maui LLC, Alicia De Ramer, 28 Hookano Place, Kula 96790.
Hett Unlimited LLC, 181 Gordon Road, Wahiawa 96786. Honolulu Popcorn Co. LLC, Jeffrey Pederson, 2415 Ala Wai Blvd. Suite 505, Honolulu 96815. Hookeha LLC, 56708 E. Prentice Place, Strasburg, Colo. 80136. Hustlas Intentions LLC, Kekoa Ynigues, P.O. Box 423, Kailua-Kona 96745. I.A.M LLC, Mai Daimonji, 6924 Kalanianaole Highway, Honolulu 96825. IDEC Environmental Solutions LLC, 1175 Elko Drive, Sunnyvale, Calif. 94089.
Kahiki LLC, Peter Kubota, 505 Kilauea Ave. Suite B, Hilo 96720. Kalawao Street Holdings LLC, Danny Kim, 500 Alakawa St. Unit 104, Honolulu 96817.
Karamel of Maui LLC, Kimberly McEvoy, 1740 Kokomo Road, Haiku 96708.
N&J Nails LLC, 98-1277 Kaahumanu St. Unit 141-B, Aiea 96701.
Kaya Productions LLC, 8625 Radiant Ruby Ave., Las Vegas, Nev. 89143.
Nail Envy LLC, Ashley Hastings, 73-1118 Ahikawa St. Unit B, KailuaKona 96740.
Ke Poina Member LLC, 1001 Bishop St. Suite 2685, Honolulu 96813.
North Star LLC, 2225 N. School St., Honolulu 96819-2578.
KMJ Auto Detailing LLC, Makoa Yoshida, P.O. Box 325, Captain Cook 96704.
Olio Consulting LLC, P.O. Box 1918, Makawao 96768.
Kohalaiki LLC, Heidi Wong, 6053 Summer St., Honolulu 96821.
Paa Investing LLC, Pakela Akaka, 1621 Dole St. Apt. 1008, Honolulu 96822.
Kohalanui LLC, Heidi Wong, 6053 Summer St., Honolulu 96821.
Pacific Repairs LLC, Arthur Miller, 629 Haihai St. Unit A, Hilo 96720.
Kraemer Enterprises LLC, John Kraemer, 112 Laukahi, Kihei 96753.
Pacific Village Investments LLC, P.O. Box 38078, Honolulu 968371078.
Kraken Nomadics LLC, P.O. Box 344, Kailua 96734. KSKL LLC, Mun-Won Chang, 91-270 Hanua St. Unit B-3, Kapolei 96707. Kuhn Behavioral Consulting Services LLC, Stacey Kuhn, 1253 S. Beretania St. Suite 2710, Honolulu 96814. Laulima Legacy Capital LLC, P.O. Box 2217, Aiea 96701. Lava’s End LLC, Larry Pellegrini, 12-1093 Kaimu McKenna Homestead Road, Pahoa 96778. LCM Home Buyers Hawaii LLC, Adam Geike, 758 Kapahulu Ave. Unit 1001021, Honolulu 96816. LD&CB Upholstery LLC, Luis Diaz, 375 Kuiaha Road Unit 45, Haiku 96708.
Image Skin Care LLC, P.O. Box 1347, Haiku 967081347.
M&B Rentals LLC, Blaine Edra, 361 Circle Mauka St., Wahiawa 96786.
In Depth Diving LLC, Taran Dailey, 156 Olive Place, Honolulu 96818.
Maggie Jean LLC, 1329 Kuuna St., Kailua 96734.
Island DNA LLC, Eugenio Antonio, 401 Papaloa Road Unit 104, Kapaa 96746.
Majestic Services LLC, 161018 Ninth Road Hawaiian Acres, Kurtistown 96760.
J&D Island Cleaning Services LLC, P.O. Box 1961, Kihei 96753.
Maluhia Shirts LLC, 766019 Duarte Road No. G-1, Holualoa 96725.
J. Ludovico Farm LLC, Julius Ludovico, 59-450 Alapio Road Unit B-1, Haleiwa 96712.
Marc Jones Enterprises LLC, Shannon Jones, P.O. Box 1071, Kapaa 96746.
JL Processing LLC, Jamie Ludovico, 59-450 Alapio Road Unit B-1, Haleiwa 96712. JNK Design Group LLC, 747 Amana St. Unit 2219, Honolulu 96814. Jo & Ris LLC, P.O. Box 88091, Honolulu 96830. Jodi’s Hot Dogs LLC, Billie Baker, 50 Vevau St. Unit 413, Kahului 96732. Joseph Diversified LLC, 85-373 Plantation Road Unit 9, Waianae 96792. Just Ice LLC, Sandra Siebentritt, 1916 Laniloa Place, Wahiawa 96786.
Mitchs Products LLC, 590 Farrington Highway Unit 524136, Kapolei 96707. MNC Group LLC, Michael Unger, 2903 Hihimanu, Kihei 96753.
Luanne Goodness-Ono LLC, 1311 Kapiolani Blvd. Suite 404, Honolulu 96814.
JBN Creative Marketing LLC, Jorge Nijensohn, 127040 Lawai Anui St., Pahoa 96778.
Mirror Mirror Salon LLC, P.O. Box 979, Mawakao 96768.
Kapuna Trails LLC, Steven Streba, 3530 Kahekili Highway, Wailuku 96793.
Ilsung-Aquex Pacific LLC, Jiro Sumada, 2171 Atherton Road, Honolulu 96822.
JBH Cleaning Services LLC, Eddie Duran, 1808 Dillingham Blvd., Honolulu 96819.
LLC, Deborah VanceBeaum, 81-6229 Hind Drive Unit 303, Captain Cook 96704.
Maricar LLC, Willie Cowart, 801 S. King St. Unit 3606, Honolulu 96813. Marten Solutions LLC, Grant Marten, 59-427 Kawowo Place, Haleiwa 96712. Martin Rabbett Music LLC, 2979 Kalakaua Ave. Unit 904, Honolulu 96815. Massages by Charissa LLC, 94-827 Nolupe St., Waipahu 96797. Maui Legend Tours LLC, 105 Anuenue Place, Kula 96790. Maui Primal, P.O. Box 1918, Makawao 96768. Mauka Biosciences LLC, 91-6445 Kapolei Parkway, Ewa Beach 96706. MHMED LLC, Constance Bridgman, 57-427 Honokawela Drive, Kahuku 96731. Mind Body Nutrition RN
Palette Trend Hawaii LLC, Roselani Pelayan, 941137 Eleu St., Waipahu 96797. Paper Town Home Staging LLC, Shaolin Low, 478 Portlock Road, Honolulu 96825. Paws to Assist LLC, P.O. Box 23172, Honolulu 96823. Piialii LLC, Zorn Lawson, P.O. Box 1471, Honokaa 96727. Pipeline Soccer Club Hawaii LLC, James Sasiadek, 801 Kakala St. Unit 1705, Kapolei 96707. PNI Medical LLC, Nathan Nakasone, 909 Kaheka St. Unit 109-B, Honolulu 96814. Pueo Audio LLC, Chad Fukumoto, 725 Luakaha St., Honolulu 96816. Pure Diversity Vapes LLC, Evan Horne, 94-114 Auhaku Place, Mililani 96789. Qiplay LLC, Ayla Stone, 760 Kekona Place, Mawakao 96768. Queen Street Arcade LLC, Brittany Green, 1034 Queen St. Unit A, Honolulu 96814. Radiant Success Coach LLC, 63 Honuhula St., Kihei 96753. Recollections LLC, Brandon Yagin, 2020 Puaala Lane, Honolulu 96819. Rendezvous Convenience LLC, Blake Okimoto, 1580 Makaloa St. Suite 1020, Honolulu 96814. Reo Hui No. 1 LLC, Eric Austin, 98-1426 Kulawai St., Aiea 96701. Rim Electric LLC, P.O. Box 893188, Mililani 96789. Roof Removal and Recycling LLC, Mark Rodden, 91-550 Awakumoku St., Kapolei 96707. Roots & Branches LLC, 111 Hekili St. Suite A-611, Kailua 96734. Savi Mango Spa LLC, Carmen Whitson, 47-675 Nukupuu St., Kaneohe 96744. Secureform LLC, 84-1170 Farrington Highway Unit B2-2, Waianae 96792. Shing Kee Fish Farm LLC, Jian Li, 1555 Pohaku St. Unit A-601, Honolulu 96817.
37
JULY 22, 2016
LEADS Shoreline Home Staging and Design LLC, Violet Herring, 1210 Pihana St., Honolulu 96825.
Byora Corp., Kanae Yamagishi, 700 Richards St. Suite 2410, Honolulu 96813.
Solkine LLC, P.O. Box 792172, Paia 96779.
Byora International, 700 Richards St. Suite 2410, Honolulu 96813.
Sonix Therapy Hawaii LLC, Benjamin Nakaoka, 3456 Pahoa Ave., Honolulu 96816.
CNT Corp., 3562 Waialae Ave. Suite 301, Honolulu 96816.
Surf With Buddy LLC, 262 Panio St., Honolulu 96821.
Dentex Inc., P.O. Box 390312, Keauhou 96739.
T&T Hawaii Enterprises LLC, 610 Kaumaka Place, Honolulu 96825.
Dependable Roofing Inc., P.O. Box 569, Holualoa 96725.
T’s Barber Shop and Hair Styling LLC, Tuoi Pham, 94-300 Farrington Highway Suite E-04, Waipahu 96797.
Film Hawaii Corp., Nalama Kukui Building Suite 109 560 N. Nimitz Highway, Honolulu 96817.
T.J. Remodel & Handyman LLC, Wei Shi, 2464 Kula Kolea Drive, Honolulu 96819. Tehanis Ono Creations LLC, Chevelle Agcalon, 207 N. Cane St. Unit 3, Wahiawa 96786. Tequi LLC, Natalie Ramirez, 1617 Kapiolani Blvd. Unit 1006-A, Honolulu 96814. The Shift Rx LLC, Catherine Liddle, 2585 Ala Namahana Parkway, Kilauea 96754. Travis Publications LLC, Michael Travis, 94-364 Hokuala St. Unit 182, Mililani 96789.
JJ Tours Inc., Karen Ninomiya, 1314 S. King St. Suite 853, Honolulu 96814.
Vengo! LLC, Laurel Zenner, P.O. Box 170, Mountain View 96771. Waikii Hui LLC, P.O. Box 337, Kamuela 96743. Waiulaula Villa 311 LLC, 675 Magnolia St., Menlo Park, Calif. 94025. Whitney Onishi LLC, 2040 Ainaola Place, Hilo 96720. Wiegand Communications LLC, Gary Wiegand, 990 Kahili St., Kailua 96734. YHB Royal Hawaiian LLC, L.A. Koreana Inc. 4353 E. Willow St., Long Beach, Calif. 90815. Zaricke Jackson Consulting LLC, 94-163 Kupuohi Place, Waipahu 96797.
Proservice Xpress Inc., Benjamin Godsey, 6600 Kalanianaole Highway Suite 200, Honolulu 96825. Reid H. Higashi Inc., 803 Kaha Place, Kailua 96734. Rowena Wong & Associates Inc., 2050 Nuuanu Ave. Unit 104, Honolulu 96817. Sadik Perfection Inc., 961 Robello Lane Room 224, Honolulu 96817.
TH Plus Inc., Kowa Hitotsubashi Building Annex 3F 3-5-1 Kandanis, Tokyo, Japan 151-0054. TRR Enterprises Inc., Rumi Robertson, 47-188 Pulama Road, Kaneohe 96744. Foreign Limited Liability Company (LLC)
Auntie Blanche’s Cleaning Service Inc., 2097-B Manawalea St., Lihue 96766. Bee Dog Inc., Robbie Schmeizer, 81-990 Halekii St. Unit 829, Kealakekua 96750. Best Beauty Zone, 94-624 Lumiaina St. No. J-103, Waipahu 96797. Best Bedding Zone, 94-624 Lumiaina St. No. J-103, Waipahu 96797.
LEVERAGE OUR EXPERTISE
Leverage is a popular tool in real estate investing. Whether you are a first-time homeowner or an experienced investor, leverage may help you increase your wealth faster in a rising market.
Leverage can help you purchase a home sooner, build net worth quicker and may offer tax benefits at the same time since most mortgage interest can be tax deductible, depending on your situation. Consult with your tax advisor to determine the deductibility.
On the other hand, if the homeowner used that same $100,000 and bought a smaller property for $100,000, in 12 months, with an appreciation of 5%, the home’s value would have increased to $105,000; an increase in real estate equity of only $5,000. This illustrates how using leverage could increase your real estate equity at a faster pace, in this example, by $20,000.
808 Tree Care LLC, 412 N. Main St. Suite 100, Buffalo, Wyo. 82834.
Beach Walk Saratoga Parking LLC, 10880 Wilshire Blvd. Suite 2222, Los Angeles, Calif. 90024.
ACQUIRING THE AMERICAN DREAM1
Consider a $500,000 real estate purchase that requires a 20% down payment of $100,0002. For 20% of the cost of the property, the buyer can purchase a half million dollar home. If the $500,000 property appreciates 5% per year, the home’s value will have increased to $525,000 in 12 months; an increase in real estate equity of $25,000.
SE Trading USA Corp., Sandy Miyamoto, 3086 La Pietra Circle, Honolulu 96815.
4 Digital Inc., Aaron Miyasato, 516 Kinoole St., Hilo 96720.
(according to Real Property Management Alliance and RentRange)
Hawaii’s expensive real estate market can be intimidating, and many people believe that they are unable to purchase a home. They continue to pay rent, without building equity. Using leverage can bring Hawaii’s expensive real estate market within reach. With today’s low interest rates, mortgage payments have come closer to rent payments, especially as rents here have continued to rise.
Proservice Human Resources Inc., Benjamin Godsey, 6600 Kalanianaole Highway Suite 200, Honolulu 96825.
DOMESTIC PROFIT CORPORATION
Alinakai Inc., 20 Makalapa Drive, Honolulu 96818.
UP 7.2% ON OAHU
compared to the first quarter of 2015
NST Inc., 1687 Kalakaua Ave., Honolulu 96826.
Allberry Hawaii LLC, 3722 Las Vegas Blvd. Suite 903, Las Vegas, Nev. 89158.
Aeos Labs Inc., 91-2135 Fort Weaver Road Suite 300, Ewa Beach 96706.
Rents for single-family homes are
KKTA Corp., Toshio Akiba, 1860 Ala Moana Blvd. Unit 418, Honolulu 96815.
Phiana Financial Group Inc., 916 Io Lane Unit B, Honolulu 96817.
United Life Holdings LLC, 1341 Kapiolani Blvd. Suite 22-A, Honolulu 96814.
7.2%
Kelly Medical Billing and Services Inc., Catherine Kelly, 1288 Kapiolani Blvd. Unit 2009, Honolulu 96814.
Tropical Pilates LLC, Bonnie McCrystal, 51 Hakui Loop, Lahaina 96761.
Unique Hawaii Experience LLC, Delphine Berbigier, P.O. Box 2268, Kihei 96753.
RENT
June Net Co. Ltd., Dillingham Transportation Building 735 Bishop St. Suite 4, Honolulu 96813.
Perpetual Endeavors Inc., 1253 S. Beretania St. Suite 2825, Honolulu 96814.
Tzarkatz LLC, Cheryl Zarbaugh, 438 Iana St., Kailua 96734.
DID YOU KNOW?
By Ronald Chang, Senior Private Banking Manager, Bank of Hawaii
FRI Inc., 1133 Ikena Circle, Honolulu 96821.
Tremblay Properties LLC, 75-6040 Alii Drive Unit 711, Kailua-Kona 96740.
TW Consulting LLC, Tomoko Washington, 1717 Keeaumoku St. Unit 202, Honolulu 96822.
Leverage Your Money and Watch it Grow
Ben & Liz Abo Properties LLC, 1870 S. Lakeline Drive, Salt Lake City, Utah 84109. Blue Glass Hawaii LLC, 901 N. Market St. Suite 705, Wilmington, Del. 19801.
It is important to understand that leverage works both ways since the real estate market does not always increase in value year to year. Determining the appropriate amount of leverage for your situation is important in real estate investing. In a declining market, the value of the real estate could even decline below the amount you owe your lender. Consult with a banker who is experienced in working with both homeowners and investors to wisely use leverage as a tool for your success.
PRICE PAYMENT
Real estate is one of the few investments that you can acquire by
PAYING ONLY A FRACTION
of the purchase price.
A
$100,000
investment that grows at 5% a year yields $5,000 but when leveraged, could yield $25,000.
$25,000
$5,000
LEVERAGED
Ronald Chang Vice President, Senior Private Banking Manager (808) 694-8796 Ron.Chang@boh.com
Car TLC LLC, 1212 S. State St., Chicago, Ill. 60605. CB&I Constructors, c/o Ayanna Ginn 4171 Essen Lane, Baton Rouge, La. 70809. CB&I LLC dba CB&I Constructors, 2103 Research Forest Drive, The Woodlands, Texas 77380.
The examples provided are for illustrative purposes only and not any indication of or prediction of growth or decline in the real estate market. 2 As of 7/5/16, the current APR of 3.265% for 30-years, with a 20% down payment the monthly principal and interest payment would be $428.38 per $100,000 borrowed. The payment does not include taxes and insurance and would be higher. Maximum loan amount is $625,000. Jumbo loans with higher loan amounts and other rates and terms are available. Subject to change without notice. 1
Member FDIC ©2016 Bank of Hawaii 7/16 v1
38
PACIFIC BUSINESS NEWS
LEADS Cinnabar Winery LLC, 14612 Big Basin Way, Saratoga, Calif. 95070.
MSD Hospitality LLC, 645 Fifth Ave. 21st Floor, New York, N.Y. 10022.
Allcare Pharmacy Inc., 12 Plymouth St. Suite 100, Worcester, Mass. 01608.
Fantastic Memories Travel LLC, 13004 Knox St., Overland Park, Kan. 66213.
Nicole Properties LLC, 1762 Belford Road, Reno, Nev. 89509.
Aplin Masonry of Telluride Inc., P.O. Box 665, Telluride, Colo. 81435.
Geeks Who Drink LLC, P.O. Box 1288, Denver, Colo. 80201. Granite to Go/Kitchen Accomplished, 6420 Arville St., Las Vegas, Nev. 89118. Hardman Court Rental LLC, Brian Teliho, 1075 Naalae Road, Kula 96790. HKA Enterprises LLC, 337 Spartangreen Blvd., Duncan, S.C. 29334. Hoku Solar Power LLC, 155 N. Wacker Drive Suite 4250, Chicago, Ill. 60606. Hospira Worldwide LLC, 275 N. Field Drive, Lake Forest, Ill. 60045. Indiana K9 Learning Center LLC, Michelle Steigmeyer, 257 Luawai St., Lahaina 96761. Inhabit Hawaii LLC dba Inhabit Sanctuary, 1775 W. Second Ave., Durango, Colo. 81301. Legg Mason & Co. LLC, 100 International Drive, Baltimore, Md. 21202. LL&M Co. LLC dba Granite to Go/Kitchen Accomplished, 6420 Arville St., Las Vegas, Nev. 89118. Louis Solar III LLC, 3055 Clearview Way, San Mateo, Calif. 94402. Maps Hotels and Resorts Hawaii 2 LLC, 2424 Kalakaua Ave., Honolulu 96815-3289. Mouse Master Travel, 13004 Knox St., Overland Park, Kan. 66213.
OLS Hotels & Resorts LLC, Och-Ziff Real Estate 9 W. 57th St. 40th Floor, New York, N.Y. 10019. Roirraw Family Asset Management LLC, 1231 W. Northern Lights Blvd. Unit 911, Anchorage, Alaska 99503. Security Source Alarms LLC, 187 Ballardvale St. Suite A-225, Wilmington, Mass. 01887.
Leco Corp., 3000 Lakeview Ave., St. Joseph, Mich. 49085.
Atmosera Inc., 9705 S.W. Sunshine Court, Beaverton, Ore. 97005.
North Highland ESOP Holdings Inc., 3333 Piedmont Road N.E. Suite 1000, Atlanta, Ga. 30305.
B&B Medical Services Inc., 2236 N.W. 10th St. Suite 103, Oklahoma City, Okla. 73107.
Smith Elliott Kearns & Co. LLC, 498 N. Potomac St., Hagerstown, Md. 21740. Sprintcom Equipment Co. LLC, 6200 Sprint Parkway, Overland Park, Kan. 66251.
Broadsmart Global Inc., 222 Lakeview Ave. Suite 1600, West Palm Beach, Fla. 32751.
USI Whaler LLC, 1215 Fourth Ave. Suite 600, Seattle, Wash. 98161. Valueiq LLC, 10800 E. Bethany Drive Suite 185, Aurora, Colo. 80014. Valvoline LLC, 3499 Blazer Parkway, Lexington, Ky. 40509. Wasatch Video Services LLC, 715 W. 23rd St., Austin, Texas 78705. Wiser Capital LLC, 2020 Alameda Padre Serra Suite 220, Santa Barbara, Calif. 93103.
FOREIGN PROFIT CORPORATION Admiral Security Services Inc., 2151 Salvio St. Suite 260, Concord, Calif. 94520.
KMS Japan, 1012 Kapahulu Ave. Suite 110, Honolulu 96816.
Arc Productions Inc., 60 E. Cedar St., Chicago, Ill. 60611.
Big Co. Ltd. dba Kabushiki Kaisha Big, 925-1 Isshiki HayamaMachi Miura-Gun, Kanagawa, Prefecture.
Swim 2 Jen LLC, 1065 Kings Road, Neptune Beach, Fla. 32266.
Kilkenny Productions, 9100 Wilshire Blvd. Suite 1000 W., Beverly Hills, Calif. 90212.
Carevoyance Inc., 1414 S.E. 32nd Ave., Portland, Ore. 97214. DMA Claims Inc., 330 N. Brand Blvd. Suite 230, Glendale, Calif. 91203. Doc Maintenance Inc., 3695 Centre Circle, Fort Mill, S.C. 29715. Freedash Co. Ltd., 2-1222-204 Ohori Chuo-Ku Fukuoka City, Fukuoka, Prefecture, Japan. High Country Line Construction Inc., P.O. Box 193, Morgan, Utah 84050. I First Medical Technologies Inc., Luke Joseph, 444 Lunalilo Home Road Unit 903, Honolulu 96825. Ihealthhome Inc., 1345 S. Beretania St. Suite 304, Honolulu 96814. Kabushikigaisya KOA Architect, 3-52-8-4F Sendagaya Shibuya-Ku, Tokyo, Japan 151-0051.
Peoples Home Equity Inc., 5205 Maryland Way Suite 100, Brentwood, Tenn. 37027. Taborda Solutions Inc., 9580 Oak Ave. Parkway Suite 7-180, Folsom, Calif. 95630. Taiho Oncology Inc., 101 Carnegie Center, Princeton, N.J. 08540. Taisho Shokuhin Yugen Gaisha, 48 Miyage Kinotsuki-Cho KimotsukiGun, Kagoshima, Prefecture, Japan. Yugengaisha Abb, 4-5-12 Togoshi Shinagawa-Ku, Tokyo.
R Building Permits OAHU
$16,000,000--Patrick G. and Evelyn R. Kuniyoshi, 87-499 Kaukama Road, Waianae, Oahu, new photovoltaic farm, Contractor: REC Solar Commerical Corp., Tax Key: tax map not provided. Permit No. 789275, 07/11/16 $7,000,000--City and County of HonoluluKapalama Hale, 925 Dillingham Blvd., Honolulu, Oahu, alteration, Contractor: S&M
Sakamoto, Tax Key: tax map not provided. Permit No. 789079, 07/06/16
Design and Build, Tax Key: 1-3-3-018-015. Permit No. 789309, 07/11/16
$1,500,000--C.S. Wo Furniture Gallery, 707 Manawai St., Kapolei, Oahu, new building, Contractor: S&M Sakamoto Inc., Tax Key: 1-9-1-148032. Permit No. 789196, 07/08/16
$700,000--Allen Woo, 1657-B.1657-B1 Alaneo St., Honolulu, Oahu, new dwelling, Contractor: Allen Woo, Tax Key: 1-7-043033. Permit No. 789520, 07/14/16
$1,127,000--Frito Lay Inc., 94-120 Malakeke Place, Waipahu, Oahu, alteration roof, Contractor: Haskell Co., Tax Key: 1-9-4-161-010 through 013. Permit No. 789225, 07/08/16 $950,000--Hanh Lee, 812 19th Ave./812 19th Ave. Unit A, Honolulu, Oahu, new dwelling, Contractor: RUI Construction Inc., Tax Key: 1-3-2-052-017. Permit No. 789202, 07/08/16 $918,299--University of Hawaii at Manoa, 2444 Dole St., Honolulu, Oahu, upgrade exterior lighting/ parking, Contractor: Teds Wiring Service, Tax Key: tax map not provided. Permit No. 789497, 07/14/16 $900,000--Zhen-Bi Dang and Lirong Lin/Toni Shi, 1105 Eighth Ave., Honolulu, Oahu, new dwelling, Contractor: CAA Construction LLC, Tax Key: 1-3-2-004-004. Permit No. 789526, 07/14/16 $825,000--ABC Stores, 2330 Kalakaua Ave. Space 158, Honolulu, Oahu, alteration, Contractor: Kenwood Pacific Construction LLC, Tax Key: 1-2-6-022-036 through 039 and 043. Permit No. 789493, 07/14/16 $800,000--Todd Tsukano, 3705 Manini Way Units A/B, Honolulu, Oahu, new dwelling, Contractor: Turner Construction Co.
$680,000--Hickam Federal Credit Union, 1260 Kuala St., Pearl City, Oahu, foundation, Contractor: Newground International Inc., Tax Key: 1-9-7-024055. Permit No. 789406, 07/13/16 $660,000--Seafolly Australia, 2330 Kalakaua Ave. Space 126, Honolulu, Oahu, alteration, Contractor: Triad Retail Construction Inc., Tax Key: 2-6-022-036 through 039 and 043. Permit No. 789409, 07/13/16 $600,000--Bing X. Yang, 1057 Kamehameha IV Road, Honolulu, Oahu, new dwelling, Contractor: Y3 Construction Inc., Tax Key: 1-1-3-029-023. Permit No. 789129, 07/07/16 $600,000--Bert Beaman, 66-1450 Kaukohonahua Road, Waialua, Oahu, new one story farm dwelling, Contractor: Bert Beaman, Tax Key: 1-6-6-028-015. Permit No. 789515, 07/14/16 $590,000--Xianhui Cao, 3230 Hoolulu St. Unit A, Honolulu, Oahu, new dwelling, Contractor: Xianhui Cao, Tax Key: tax map not provided. Permit No. 789235, 07/08/16 $515,000--Dhara LLC, 611000 Tutu Place, Haleiwa, Oahu, new dwelling, Contractor: Commercial Facilities Specialists Inc. dba Kingdom Builders, Tax Key: 1-6-1-003-064. Permit No. 789110, 07/06/16
OAHU
C-16-1-1313--Nationstar Mortgage LLC vs. Nora M. Managgey/Wilson C. Mina/Betty M. Perez et al. Suit to foreclose mortgage on 1729 Maliu St., Honolulu, Oahu 96819, for alleged nonpayment of principal sum of $433,034 plus interest. Atty. for plaintiff: Peter T. Stone, 07/08/16.
C-16-1-1309--Vibgyor LLC dba Wanderlust Plus vs. GJC Hawaii Inc. et al., contract. Atty. for plaintiff: Brett R. Tobin, 07/08/16.
C-16-1-1314--Pennymac Services LLC vs. Shawn M. Clarke et al. Suit to foreclose mortgage on 91-1207 Kamaaha Ave. Apt. 703, Kapolei, Oahu 96707, for alleged nonpayment of principal sum of $345,532 plus interest. Atty. for plaintiff: Peter T. Stone, 07/08/16.
R Court Report CASES FILED IN 1ST CIRCUIT COURT C-16-1-1308--Julius Ah Sam vs. State of Hawaii/City and County of Honolulu Dept. of the Prosecuting Attorney, malicious prosecution. Atty. for plaintiff: Gary V. Dubin, 07/08/16.
C-16-1-1319--Carlous Palmer vs. HI Dow et al., negligence. Atty. for plaintiff: Charles H. Brower, 07/11/16. C-16-1-1355--Gregory Hogue vs. Safeway Inc. dba Safeway/A&I Refrigeration Inc. et al., negligence. Atty. for plaintiff: Chris Bouslog, 07/14/16. CASES FILED IN U.S. DISTRICT COURT
HONOLULU U.S. DISTRICT COURT CV16-00379--Calvert A. Williamson vs. State of Hawaii Dept. of Public Safety/Oahu Correctional Community Center et al., discrimination. Atty. for plaintiff: pro se, 07/13/16. CV16-00380--John D. Benson III vs. Matson Navigation Co. Inc., negligence. Atty. for plaintiff: John J. Hughes, 07/08/16. CV16-00386--BMN Enterprises LLC/Boki Inc. vs. Proove Biosciences Inc., contract. Atty. for plaintiff: Charles H. Brower, 07/11/16. CV16-00390--American Zurich Insurance Co. vs. Jayar Construction Inc. et al., workers compensation benefits paid. Atty. for plaintiff: Jared A. Washkovitz, 07/12/16. CV16-00391--Cecil Gregory vs. Pearl Harbor Shipyard et al., discrimination. Atty. for plaintiff: pro se, 07/13/16.
I N SPI RE
•
E QU I P
•
R Foreclosures
E M POWER
IN 1ST CIRCUIT COURT Matt De La Cruz
Mon. August 15, 2016
Mon. August 22, 2016
with Matt De La Cruz
with Matt De La Cruz
How to be a Real Success in LEADERSHIP LEAD others successfully • • •
The Law of the Lid 5 Levels of Leadership The Law of Influence
EVENT TIME 830AM - 1200PM
LOCATION Hilton Hawaiian Village, 2005 Kalia Rd., Honolulu, HI 96815
In this session you will learn:
TICKETS winningminds.com info@winningminds.com P 248.249.7350
•
• •
•
•
Living Intentionally The Laws of Success Defining your Purpose and Vision Reaching your Full Potential Creating your Personal Growth Plan
EVENT TIME 900AM - 300PM LOCATION Hilton Hawaiian Village, 2005 Kalia Rd., Honolulu, HI 96815 TICKETS winningminds.com info@winningminds.com P 248.249.7350
OAHU
C-16-1-1307--Bank of America NA vs. Marlo A. Vaughn et al. Suit to foreclose mortgage on 95-1055 Kaapehu St. Apt. 149, Mililani, Oahu 96789, for alleged nonpayment of principal sum of $293,584 plus interest. Atty. for plaintiff: Steven T. Iwamura, 07/08/16. C-16-1-1311--US Bank NA vs. Kris A. Portillo Personal Representative of the Estate of Jose Luis Andrade Canales et al. Suit to foreclose mortgage on 3336 Mooheau Ave., Honolulu, Oahu 96816, for alleged nonpayment of principal sum of $576,000 plus interest. Atty. for plaintiff: Peter T. Stone, 07/08/16. C-16-1-1312--Castle & Cooke Mortgage LLC vs. Vernon K. and Belinda J. Burdett et al. Suit to foreclose mortgage on 91-1245 Kamaaha Ave. Apt. 206, Kapolei, Oahu 96707, for alleged nonpayment of principal sum of $409,997 plus interest. Atty. for plaintiff: Peter T. Stone, 07/08/16.
C-16-1-1315--Federal National Mortgage Association vs. Sarah E. Perez as Special Administrator of the Estate of Lyons Clarance Welch et al. Suit to foreclose mortgage on 54-267 Kawaihemo Place, Hauula, Hawaii 96717, for alleged nonpayment of principal sum of $341,442 plus interest. Atty. for plaintiff: Peter T. Stone, 07/08/16. C-16-1-1316--CIT Bank NA vs. Shirley N. Shimaoka et al. Suit to foreclose mortgage on 95-106 Mahoa Place, Mililani, Oahu 96789, for alleged nonpayment of principal sum of $433,038 plus interest. Atty. for plaintiff: Lloyd T. Workman, 07/11/16. C-16-1-1317--Bayview Loan Servicing LLC vs. Paulson P. and Robynn L. Ann Dela Pena et al. Suit to foreclose mortgage on 91-111 Hapua St., Ewa Beach, Oahu 96706, for alleged nonpayment of principal sum of $331,329 plus interest. Atty. for plaintiff: Karyn A. Doi, 07/11/16. C-16-1-1318--Navy Federal Credit Union vs. Gary J. and Rhonda Martinez et al. Suit to foreclose mortgage on 95-2043 Waikalani Place Apt. A-105, Mililani, Oahu 96789, for alleged nonpayment of principal sum of $154,115 plus interest. Atty. for plaintiff: Karyn A. Doi, 07/11/16. C-16-1-1322--Central Pacific Bank vs. Shou-Jean Chang Chen individually and Trustee et al. Suit to foreclose mortgage on 1288 Ala Moana Blvd. Apt. 36-H, Honolulu, Oahu 96814, for alleged nonpayment of principal sum of $511,922 plus interest. Atty. for plaintiff: Jonathan W.Y. Lai, 07/12/16. C-16-1-1324--The Bank of New York Mellon vs. Brad H. and Jean M. Vanterpool et al. Suit to foreclose mortgage on 91-1036 Palala St., Kapolei, Oahu 96707, for alleged nonpayment of principal sum of $505,596 plus interest. Atty. for plaintiff: Peter T. Stone, 07/12/16. C-16-1-1325--Ocwen Loan Servicing LLC vs. William I. Woodward et al. Suit to foreclose mortgage on 217 Kilea Place, Wahiawa, Oahu 96786, for alleged nonpayment of principal sum of $507,082 plus interest. Atty. for plaintiff: Peter T. Stone, 07/12/16. C-16-1-1331--US Bank NA vs. George and Ann Leong et al. Suit to foreclose mortgage on 532 Kawaihae St. Apt. H, Hawaii Kai, Oahu 96825, for alleged nonpayment of principal sum of $460,000 plus interest. Atty. for plaintiff: Steven T. Iwamura, 07/13/16.
39
JULY 22, 2016
P
R
E
S
E
N
T
SPACE IS LIMITED!
S
AND PAU HANA Join Pacific Business News and our sponsors as we recognize the most outstanding health and wellness programs created and implemented by local companies at our 6th Annual Healthiest Employers event! This year’s carnival-themed event will feature an afternoon of fun with hosted beer and wine, heavy pupus, booths with games, prizes, and a health & wellness fair prior to the big top awards ceremony.
CONGRATULATIONS TO THE 2016 HEALTHIEST EMPLOYERS!
SmAll BuSiNESSES
mEdium BuSiNESSES
lArgE BuSiNESSES
Aerotek
First Insurance Company of Hawaii
American Savings Bank
Coffman Engineers Inc. Hawaii Information Consortium
Castle Medical Center
Hawaii National Bank
Central Pacific Bank
Hawaii Tech Support
Hawaii-Western Management Group
Hawaii Pacific Health
RevoluSun Smart Home
The Hawaii Group
Kaiser Permanente Hawaii Marriott Vacations Worldwide- Hawaii Region
Thursday, July 28, 2016 @ 300 PM-600 PM The Pomaikai Ballrooms
PRESENTING SPONSOR
Hosted bar and heavy pupus / Tickets, tables, and exhibitor booths available at bizjournals.com/pacific/event/134952 EVENT DAY 300 PM - Registration, Networking, Health & Wellness Fair, Hosted Heavy Pupus, Beer and Wine 430-500 PM - Award Ceremony 600 PM - Event Ends Attire - Business Casual / Aloha For more info contact EMILY PELLIN, Events Director epellin@bizjournals.com or 808.955.8003
GOLD SPONSOR
40
PACIFIC BUSINESS NEWS
Introducing the 2016 Honorees! Join Pacific Business News and our sponsors on Thursday, August 11 for a cocktail reception and awards program honoring Hawaii’s Fastest 50. Tickets include hosted beer & wine bar, pupus, and the Fastest 50 awards program where we announce each company’s rank by revenue growth.
Affiliated Construction
Hawaii Accounting
Alexanders Designs & Remodeling
Hawaii Energy Smart
All Civil Process Inc.
Hawaiian Paddle Sports
Aloha Aku Inn Artistic Builders Banks Pacific Construction Inc. Barbers Point Aviation Services BrightStar of Honolulu Choice Maui dba Choice Health Bar Confluence Corp dba Regal Service Co. Duerler Inc. dba Mango Medical Erskine Architects Inc. Employers Options Flip Flop Workshop Garden Isle Collision Repair
Hawaii Pacific Solar Honolulu Roofing Co. Il Gelato Hawaii Island Creation Construction Jay’s Custom Cabinets Inc. Jireh Fills Hawaii Corp. King’s Painting
Padilla Designs Pop-A-Lock of Honolulu R.F. Chapman & Co. Real Select USA Rivco Salty Wahine Gourmet Hawaiian Sea Salts
Kona Coast Property Management
Talk Story Bookstore Texture Inc.
Koolau Builders
The Diamond Fairy
Kumabe HR
The Right Slice
Latte Consulting
Top Notch Automotive
LPN Landscaping and Tree Service
Tropic Water
THURSDAY, AUGUST 11, 2016
INDIVIDUAL TICKET $90
Hawaii Convention Center Kalakaua Ballroom, 4th floor
PETITE PACKAGE $2,500 Five (5) Tickets with Reserved Seating, Logo Placement at Table, 1/4 Page Ad, One (1) One-Year Pacific Business News Gift Subscription.
3:30 PM - 5:00 PM Networking/Hosted Beer & Wine Bar Hosted Pupus
Pacific Point
Starcom Builders Inc.
GoLeanSixSigma.com
2:30 PM - 3:30 PM Fastest 50 Awards Program
Pacific Construction Services Ltd.
Klimt Architects
Na Alii Consulting & Sales
2:00 PM General Registration/Networking/ Hosted Beer & Wine Bar
Oceanfront Sotheby’s International Realty
SILVER TABLE PACKAGE $3,000 Ten (10) Person Premium Table, Logo Placement at Table, 1/4 Page Ad, Three (3) One-Year Pacific Business News Gift Subscriptions.
Will Kill Termites & Pests
GOLD TABLE PACKAGE $4,030 Ten (10) Person Premium Table, Logo Placement at Table and Program, 1/2 Page Ad, Five (5) One-Year Pacific Business News Gift Subscriptions PLATINUM TABLE PACKAGE $5,800 Ten (10) Person Premium Table, Logo Placement at Table and Program, Full Page Ad, Six (6) One-Year PBN Gift Subscriptions, Complimentary Parking.
Tickets and tables available by visiting www.bizjournals.com/pacific/event/134962 HOSTED BY
GOLD SPONSORS
SILVER SPONSOR
41
JULY 22, 2016
UPCO MI N GSECT IONS
LAW FIRMS LABOR SPECIALTIES FREE SEMINAR
ACT SMALL TO GROW BIG!!!
with TOM ASACKER, author of The Business of Belief, rated the #1 inspirational business book of 2013 by Inc. Magazine. This entertaining and thought-provoking talk will identify three self-enhancing value components that big brands are struggling to implement in order to engage today’s discerning customers. Engage your brain and light a fire in you and your team. Learn about:
• The major trends that are changing the rules of the marketplace game • How the brain makes choices in an overstimulated environment • A new framework for creating engagement and belief in this new, excess economy • How to become a more strategic thinker and leader
PBN ranks the top 25 law firms in labor and employment law by number of lawyers. PBN explores which firms are growing and how labor law firms are preparing for the new federal employment regulations on overtime pay that go into effect this December. PUBLICATION DATE: AUG 26, 2016 | SPACE DEADLINE: AUG 17, 2016
AUTOMOTIVE DEALERS
• How to communicate for greatest impact • How to add distinctive value to all activities
TOM ASACKER
Innovator, change agent, provocateur
Tom Asacker, a popular speaker and acclaimed author, is recognized by Inc. Magazine, M.I.T., and Y.E.O. as a past member of their Birthing of Giants executive leadership program. He is a former General Electric executive, recipient of the George Land Innovator of the Year Award, and a former high-tech business owner. Asacker has been a strategic adviser to startups and Fortune-listed companies. He is the author of critically acclaimed books including his latest, The Business of Belief. Visit tomasacker.com to learn more.
WHO SHOULD ATTEND • • • • •
Business Owners C-Suite Nonprofit Marketing Directors IT
PBN ranks the top auto dealers in Hawaii by 2015 sales volume. PBN explores how remodeled showrooms or new facilities are paying off in terms of sales, customer satisfaction and employee retention. PBN also explores the hottest selling vehicle types, makes and models. PUBLICATION DATE: AUG 26, 2016 | SPACE DEADLINE: AUG 17, 2016
PRIVATE SCHOOLS
AUGUST 11, 2016 AT THE HAWAII CONVENTION CENTER 9:00 AM - 2:30 PM - Small Business Growth Expo SEMINAR: ACT SMALL GROW BIG!!! 10:30 AM - 11:15 PM 1:00 PM - 1:45 PM Two chances to attend! FOR MORE INFORMATION
bizjournals.com/pacific/event/134972
PBN ranks the top 75 private schools by 2015 enrollment. PBN explores the funding models of private schools for insights into how that translates into success for the schools as well as parents and students. PUBLICATION DATE: SEP 2, 2016 | SPACE DEADLINE: AUG 24, 2016
Presenting Sponsor
FOR ADVERTISING OPPORTUNITIES CALL SCOTT KATO, Advertising Director 808-955-8048 or email skato@bizjournals.com
42
PACIFIC BUSINESS NEWS
ENTERPRISE LICENSE IT’S A PIECE
OF CAKE AND
EVERYONE GETS A SLICE
Give your entire staff easy access to the resources they need to build your business. • Skip the wait for the print edition to be routed. Get important local news and premium subscriber-only content.
• Fully customized to surface news about your company as well as topics relevant to your business.
• Filter news by city, industry and customized keywords.
• 10+ years of archived business news and data from 43 cities nationwide.
• Access to thousands of executable leads. Contact Rose Balagtas today for a demo rbalagtas@bizjournals.com | 808.955.8072 promo.bizjournals.com/enterpriselicense-cake
43
JULY 22, 2016
LEADS C-16-1-1334--Mililani Town Association vs. Vinh A. Clemen Trustee et al. Suit to foreclose mortgage on 95-492 Kaulia Place, Mililani, Oahu 96789, for alleged nonpayment of principal sum of common expenses plus interest. Atty. for plaintiff: Arlette S. Harada, 07/13/16. C-16-1-1335--Koolina Fairways Association vs. Joshua D. Dandridge et al. Suit to foreclose mortgage on 92-1509 Aliinui Drive, Kapolei, Oahu 96707, for alleged nonpayment of principal sum of common expenses plus interest. Atty. for plaintiff: John A. Morris, 07/13/16. C-16-1-1342--Ditech Financial LLC vs. Josefina A. Tabiolo individually and Trustee et al. Suit to foreclose mortgage on 91-1116 Kaiee St., Ewa Beach, Oahu 96706, for alleged nonpayment of principal sum of $544,146 plus interest. Atty. for plaintiff: Steven T. Iwamura, 07/14/16. C-16-1-1343--The Bank of New York Mellon vs. Carolly L. Erickson et al. Suit to foreclose mortgage on 467 Lanae Way, Kailua, Oahu 96734, for alleged nonpayment of principal sum of $282,350 plus interest. Atty. for plaintiff: Steven T. Iwamura, 07/14/16. C-16-1-1344--Bank of America NA vs. Imelda B.L. and Benjamin R. Santana et al. Suit to foreclose mortgage on 86-164 Leihoku St., Waianae, Oahu 96792, for alleged nonpayment of principal sum of $300,518 plus interest. Atty. for plaintiff: Steven T. Iwamura, 07/14/16. C-16-1-1345-Citifinancial Servicing LLC vs. Faye Ann Albios/ Benson S. Dumlao et al. Suit to foreclose mortgage on 94-1016 Kaukahi Place Apt. J-5, Waipahu, Oahu 96797, for alleged nonpayment of principal sum of $229,921 plus interest. Atty. for plaintiff: Robert E. Chapman, 07/14/16. C-16-1-1352--Bank of Hawaii vs. Kenneth K. and Sandra J. Abe et al. Suit to foreclose mortgage on 520 Lunalilo Home Road Unit ER-121, Hawaii Kai, Oahu 96825, for alleged nonpayment of principal sum of $800,000 plus interest. Atty. for plaintiff: Caroline S. Otani, 07/14/16.
R Real Estate Transactions - Commercial KAUAI
4485 Pahee St., Lihue, Kauai 96766, $3,100,000, Nalu AIO LLC to San Ramon Royal Vista Golf Courses Inc., Tax Key 4-3-3-010004, 05/20/16. 4422 Kukui Grove St., Lihue, Kauai 96766, $2,000,000, Nalu AIO LLC to San Ramon Royal Vista Golf Courses Inc., Tax Key 4-3-3-006-022, 05/20/16. 4360 Kukui Grove St., Lihue, Kauai 96766, $1,400,000, Nalu AIO LLC to San Ramon Royal Vista Golf Courses Inc., Tax Key 4-3-3-006-006, 05/20/16.
OAHU
91-229 Kuhela St., Ewa Beach, Oahu 96706, $2,700,000, Shuhei and Setsuko Okuda to JNC Properties LLC, Tax Key 1-9-1-031-033,
05/26/16.
R Real Estate Transactions - Residential HAWAII COUNTY
72-455 Kaupulehu Drive, Kailua-Kona, Hawaii 96740, $7,565,000, Pulehuulu Estates Lot 8 LLC to James S. and Lynda J. Morley, Tax Key 3-7-2029-036, 05/26/16. 72-127 Puukole St., Kailua-Kona, Hawaii 96740, $5,999,999, Kulanakauhale LLC to Scot G. and Carolyn K. McClone Trustees, Tax Key 3-7-2029-046, 05/26/16. 69-1968 Puako Beach Drive, Kamuela, Hawaii 96743, $3,950,000, Lynn B. Willcox Trustee to Selena and Gary Linde, Tax Key 3-6-9-006-004, 05/20/16. 73-4840 Maia Loop Apt. 7, Kailua-Kona, Hawaii 96740, $2,750,000, Konahaiki Shores LLC to Adam H. Springel Trustee, Tax Key 3-7-3-068-0310001, 05/26/16. 56-2791 Lahuiki Place, Kamuela, Hawaii 96743, $1,050,000, Marc B. and Georgette M. Victor to Doug L. and Patricia A. Lenhoff Co-Trustees, Tax Key 3-5-6-001-087, 05/23/16. 83-1028 Kahauloa Place, Captain Cook, Hawaii 96704, $999,900, Michael G. Zecher and Cynthia S. Powell to James E. and Bette J. Reynolds, Tax Key 3-8-3-016-039, 05/26/16. 15-863 Paradise Ala Kai Drive, Keaau, Hawaii 96749, $825,000, Scott B. Baker to Edward Meyer Trustee, Tax Key 3-1-5058-051, 05/24/16. 68-1025 N. Kaniku Drive Apt. 516, Kamuela, Hawaii 96743, $807,500, Edward C. and Judith A. Wooley to Robert and Sharry K. McAllister, Tax Key 3-6-8022-004-0109, 05/24/16. 55-811 Keahipoe Place, Hawi, Hawaii 96719, $750,000, Robert S. and Mary B. Bermudez to Linda L. Cavis and John K. Bertrand, Tax Key 3-5-5018-037, 05/19/16.
130 Kai Malina Parkway Apt. NR-349, Lahaina, Maui 96761, $2,100,000, Maui Beach Resort LP to Mei Ren Yu LLC, Tax Key 2-4-4-014-006-0431, 05/20/16. 78 S. Iwa Place, Lahaina, Maui 96761, $1,600,000, Raymond J. and Andrea L. Nawara to Eugene V. and Margaret N. Quattrin, Tax Key 2-4-4-011-070, 05/19/16. 315 S. Ulukoa Place, Lahaina, Maui 96761, $1,595,000, Brian W. and Rosemary Ann Burnett to Eva L. Zimmerman Trustee, Tax Key 2-4-4-012-032, 05/20/16. 196 Hakui Place, Lahaina, Maui 96761, $1,420,000, Walter W. and Barbara A. Kubiak to John R. Jr. and Elizabeth A. Kennedy, Tax Key 2-4-4-011-094, 05/23/16. 22 Kili Nahe St., Lahaina, Maui 96761, $1,132,500, Kenneth M. Sakurai Trustee to Walter W. and Barbara S. Kubiak, Tax Key 2-4-3003-127, 05/26/16. 50 Puu Anoano St. Apt. 2204, Lahaina, Maui 96761, $1,060,000, Gregory J. and Keri D. Stack Co-Trustees to Matthew and Melissa Stashin, Tax Key 2-4-4006-048-0009, 05/26/16. 130 Kai Malina Parkway Apt. NR-139, Lahaina, Maui 96761, $950,000, Maui Beach Resort LP to Fereshteh Nikbakhsh-Tali Trustee, Tax Key 2-4-4014-006-0342, 05/20/16. 35 Pualoke Place, Lahaina, Maui 96761, $940,000, Ripple Rock Enterprise Ltd. to Adrian Utsch and Elise Strong, Tax Key 2-4-6-028-037, 05/20/16. 20 Lily Place, Lahaina, Maui 96761, $930,000, Thomas D. Bell Trustee to Brody B. and Veronica M. Long, Tax Key 2-4-3-020089, 05/20/16. 391 Kamalei Circle, Kahului, Maui 96732, $905,000, Nicholas M. Matichyn Trustee and Jane Kocivar Trustee to Tim D. and Amy V. Sylvester, Tax Key 2-3-8-086-087, 05/19/16.
OAHU
580 Lunalilo Home Road Apt. COB-352, Hawaii Kai, Oahu 96825, $845,000, Shujie Chang to Paul A. and Jolene K. Peterson, Tax Key 1-3-9-008-036-0052, 05/13/16. 888 Kapiolani Blvd. Apt. 903, Honolulu, Oahu 96813, $835,000, OliverMcMillan Pacific Rim LLC to Ryan R. and Kelly Ann Liddle, Tax Key 1-2-1-044-049-0015, 05/18/16. 888 Kapiolani Blvd. Apt. 1503, Honolulu, Oahu 96813, $828,500, OliverMcMillan Pacific Rim LLC to Yitrabeet LLC/ Eglin Family LP, Tax Key 1-2-1-044-049-0059, 05/18/16. 6221 Kawaihae Place Apt. B-105, Hawaii Kai, Oahu 96825, $825,000, Helen Toal Trustee to Michael D. and Sabrina Crooks, Tax Key 1-3-9035-007-0009, 05/13/16. 956 Ahuwale Place, Honolulu, Oahu 96821, $808,000, Fred M. Kaneshiro Trustee to Troy A. and Sayaka M. Tada, Tax Key 1-3-6-022-014, 05/13/16. 2325 Ahe St., Honolulu, Oahu 96816, $800,000, Steven Ho Trustee to Liang H. He and Zhoujie Chen, Tax Key 1-3-4-003-044, 05/13/16. 437 Kailua Road Apt. 6206, Kailua, Oahu 96734, $799,900, D.R. Horton Schuler Homes LLC to John A. Zabriskie and Leslie L. Harakawa, Tax Key 1-4-2001-059-0139, 05/16/16. 1295-B Moanalualani Way Apt. 17-B, Honolulu, Oahu 96819, $785,000, Young W. and Hyun J. Kim to Ken A.T. and Kristy M.M.Y. Kurizaki, Tax Key 1-1-1-012-036-0122, 05/13/16. 1296 Kapiolani Blvd. Apt. II-2205, Honolulu, Oahu 96814, $780,000, Gerald T. and Sherry T. Lee to Baron M. and Sun Hee Miho, Tax Key 1-2-3-010028-0484, 05/17/16. 888 Kapiolani Blvd. Apt. 803, Honolulu, Oahu 96813, $760,000, OliverMcMillan Pacific Rim LLC to Daren G.D. Lum, Tax Key 1-2-1-044-049-0004, 05/18/16.
KAUAI
45 Kai Ala Drive Apt. A-116, Lahaina, Maui 96761, $850,000, Robert W. and Patricia S. Atkins Trustees/Georgia L. Hollis/ George V. and Judith A. Kent Trustees to Howard R. and Donita G. Simmons, Tax Key 2-4-4-006-0110003, 05/20/16.
MAUI
1574 Lokia St. Apt. 3-C, Lahaina, Maui 96761, $832,141, Richard A. Ennis Trustee to Robert M. and Linette L. Silsbee, Tax Key 2-4-5-028-067, 05/19/16.
119 Nuiki Circle, Honolulu, Oahu 96821, $2,200,000, James P. and Colleen M. McAluney to Thomas A. McDevitt, Tax Key 1-3-7-002-066, 05/20/16.
245 Aukahi St., Kihei, Maui 96753, $825,000, Michael R. and Ginni D. Madsen to Todd W. and Kimberly L. Niemann, Tax Key 2-3-9-036-001, 05/26/16.
59-469 Makana Road, Haleiwa, Oahu 96712, $1,975,000, Thomas R. and Maureen G. Burney to Brett G. and Dianne C. Thomas, Tax Key 1-5-9029-018, 05/24/16.
371 Kuikahi Drive, Wailuku, Maui 96793, $820,000, Patricia Y. Kim and Michael E. Kim Trustee to Kyle K. and Shu-Chu Yamaguchi, Tax Key 2-3-5013-049, 05/19/16.
1724 Kewalo St., Honolulu, Oahu 96822, $1,700,000, Hawaii Baptist Academy to Loyalty International LLC, Tax Key 1-2-4-028-017, 05/19/16.
38 Puamana Place, Lahaina, Maui 96761, $790,000, Peter R. Wood and Julie I. Robbin to Atom K. and Jennifer L.L. Kasprzycki, Tax Key 2-4-3015-022, 05/20/16.
220 Beach Walk Apt. 1311, Honolulu, Oahu 96815, $1,570,000, Tsui-Hsing Hou Trustee et al. to Yuta Namiki, Tax Key 1-2-6-003-061-0111, 05/26/16.
144 Anapuni Loop, Lahaina, Maui 96761, $775,000, Sabrina Maui LLC to Duncan Magee, Tax Key 2-4-4-019-008, 05/26/16.
1009 Kapiolani Blvd. Apt. 4803, Honolulu, Oahu 96814, $1,548,700, OliverMcMillan LLC to OM Pacifica Owners LLC, Tax Key 1-2-3-003-105-0483, 05/23/16.
4035 Aloalii Drive, Princeville, Kauai 96722, $1,600,000, Barbara Wood Trustee to Ulrich H. Rachner Trustee, Tax Key 4-5-3-012-004, 05/20/16. 4345 Melianani Place, Kihei, Maui 96753, $5,300,000, Discovery Inc. to Lisa M. Johnson Trustee, Tax Key 2-2-1-027-019, 05/20/16. 1 Bay Drive Apt. 5402, Lahaina, Maui 96761, $4,150,000, Island Acquisitions Kapalua LLC to Garret W. Gray and Hollis W. Butler Jr., Tax Key 2-4-2-004-028-0131, 05/23/16. 11 Ironwood Lane Apt. 24, Lahaina, Maui 96761, $2,900,000, Michael S. and Leslie A. Engl Trustees to Robert D. and Mary Gillen, Tax Key 2-4-2-001030-0008, 05/23/16. 130 Kai Malina Parkway Apt. NR-749, Lahaina, Maui 96761, $2,500,000, Maui Beach Resort LP to Flossie and I. Fong Lin, Tax Key 2-4-4-014-006-0592, 05/23/16. 1037 Front St., Lahaina, Maui 96761, $2,150,000, Stanley G. Dunn Trustee to Corbin and Brenna Dunn, Tax Key 2-4-5-003-025, 05/26/16.
383 Kalaimoku St. Apt. 2801, Honolulu, Oahu 96815, $2,498,800, PACREP LLC to Scott O. and Min J. Kang, Tax Key 1-2-6-018-087-0264, 05/24/16.
422 Akoakoa Place, Kailua, Oahu 96734, $1,530,000, Alan H.
and Joanne H. Arizumi to Rosemarie C. Tan, Tax Key 1-4-2-077-087, 05/23/16. 220 Beach Walk Apt. 2011, Honolulu, Oahu 96815, $1,508,000, Kabushikigaisha Fujii to NOBS Co. Ltd., Tax Key 1-2-6-003-061-0258, 05/19/16. 888 Kapiolani Blvd. Apt. 3105, Honolulu, Oahu 96813, $1,441,600, OliverMcMillan Pacific Rim LLC to Yen-Hsun Huang and Shu-Ching Chan, Tax Key 1-2-1-044-049-0236, 05/20/16. 68-268 Olohio St., Waialua, Oahu 96791, $1,399,000, David M. Horack to Brett G. and Dianne C. Thomas, Tax Key 1-6-8-013-027, 05/24/16. 59-495 Hoalike Road, Haleiwa, Oahu 96712, $1,300,000, Kenneth J. and Susan H. Archer to Anthony J. and Laura N. Keane, Tax Key 1-5-9-024019, 05/23/16. 59-357 Makana Road, Haleiwa, Oahu 96712, $1,295,000, Nicola Ann Newall Trustee to Oleema F.A. Miller, Tax Key 1-5-9029-010, 05/26/16. 888 Kapiolani Blvd. Apt. 3309, Honolulu, Oahu 96813, $1,292,200, OliverMcMillan Pacific Rim LLC to Chia Wen Chan, Tax Key 1-2-1-044-049-0262, 05/20/16. 92-1017-V Koio Drive Apt. S-21, Kapolei, Oahu 96707, $1,250,000, Carolyn M. Stone Trustee to Island Realty Exchange LLC, Tax Key 1-9-1-056005-0021, 05/24/16.
Kahue and Denise Mee-Sim Kahue, Tax Key 1-9-1143-056, 05/20/16. 2661 Pauoa Road, Honolulu, Oahu 96813, $1,100,000, Steven G. and Elithe W. Kahn Trustees to Vern K. and Dee Wu Wong, Tax Key 1-2-2-026-114, 05/26/16. 1805 Kahanu St., Honolulu, Oahu 96819, $1,100,000, Pedro A. and Ifelda M. Sagisi/Catherine Sagisi-Butay to George M. and Trelie G. Falcon, Tax Key 1-1-2-002-054, 05/19/16. 58-132 Wehiwa Place Apt. B, Haleiwa, Oahu 96712, $1,100,000, Robert K. Lawrence to Richard C. and Julie L. Lantz Trustees, Tax Key 1-5-8-005-012-0002, 05/19/16. 888 Kapiolani Blvd. Apt. 3101, Honolulu, Oahu 96813, $1,069,400, OliverMcMillan Pacific Rim LLC to Yen-Hsun Huang and Shu-Ching Chan, Tax Key 1-2-1-044-049-0235, 05/20/16. 383 Kalaimoku St. Apt. 2606, Honolulu, Oahu 96815, $1,025,800, PACREP LLC to Paul H. Kang, Tax Key 1-2-6-018087-0250, 05/24/16. 51264 Kamehameha Hgihway Apt. 2, Kaaawa, Oahu 96730, $1,025,000, Anita C. Bruhl Trustee to Richard P. and Dianne K. Ammons, Tax Key 1-5-1009-021-0002, 05/19/16. 604 Ilimano St., Kaneohe, Oahu 96744, $1,022,000, Andrew W. and Daniela I. Machamer to Patrick K. and Tina R. Smith, Tax Key 1-44-030-018, 05/19/16.
691 Kalanipuu St., Hawaii Kai, Oahu 96825, $1,200,000, R.J. and Sallie J. McQuaid to Shujie Chang, Tax Key 1-3-9058-019, 05/20/16.
2129 Alaeloa St., Honolulu, Oahu 96816, $1,000,000, Anne E. Tomita to Guy Kudo and Patrice Choy, Tax Key 1-35-062-027, 05/19/16.
59-021 Huelo St., Haleiwa, Oahu 96712, $1,150,000, Jason K. and Maria E. Aoki to Michael P. Neely, Tax Key 1-5-9-001018, 05/19/16.
1009 Kapiolani Blvd. Apt. 4802, Honolulu, Oahu 96813, $990,000, OliverMcMillan LLC to OM Pacifica Owners LLC, Tax Key 1-2-3-003-105-0482, 05/23/16.
91-1099 Kaihohonu St., Ewa Beach, Oahu 96706, $1,116,160, Kuapapa at Hoakalei LLC to Floyd K.
888 Kapiolani Blvd. Apt. 4210, Honolulu, Oahu 96813, $985,000,
05/19/16.
OliverMcMillan Pacific Rim LLC to Kent M. and Elizabeth M. Keith Trustees, Tax Key 1-2-1044-049-0362, 05/20/16.
1777 Ala Moana Blvd. Apt. 225, Honolulu, Oahu 96815, $910,000, SFI Ilikai Retail Owner LLC to Hitoshi Omori, Tax Key 1-2-6-010-007-1051, 05/24/16.
888 Kapiolani Blvd. Apt. 3906, Honolulu, Oahu 96813, $980,000, OliverMcMillan Pacific Rim LLC to Young J. Kim and Min J. Woo, Tax Key 1-2-1-044-049-0325, 05/20/16.
1538 Molehu Drive, Honolulu, Oahu 96818, $910,000, Ellen M. Humphrey Trustee to Alfred J.S. Silva and Eun J. Hong, Tax Key 1-9-9-049126, 05/20/16.
1177 Queen St. Apt. 4203, Honolulu, Oahu 96814, $970,000, Cindy K. and Gregory R. Hong to Peter A. Yelle and Liana A. Volpe-Yelle, Tax Key 1-2-3-006-014-0326, 05/20/16.
1411 Ala Hoku Place, Honolulu, Oahu 96819, $900,000, Gloria L. Turner to Paul M. and Angel R. Weflen, Tax Key 1-1-1045-078, 05/26/16.
1630 Ruth Place, Honolulu, Oahu 96816, $965,000, Kay L. Shufeldt Trustee to Alan S.F. and Kerri A. Lum, Tax Key 1-34-032-047, 05/19/16.
888 Kapiolani Blvd. Apt. 3510, Honolulu, Oahu 96813, $895,000, OliverMcMillan Pacific Rim LLC to Norman H.W. and Jenny S.L. Cheung, Tax Key 1-2-1-044-049-0285, 05/20/16.
1777 Ala Moana Blvd. Apt. 210, Honolulu, Oahu 96815, $955,555, SFI Ilikai Retail Owner LLC to Takayama Komura, Tax Key 1-2-6-010-007-1037, 05/26/16.
91-1128 Kaioio St., Ewa Beach, Oahu 96706, $890,118, Kuapapa at Hoakalei LLC to Gabriel K.P. and Kristina N. Bazard, Tax Key 1-9-1-166-008, 05/20/16.
369 Kuanalu Place, Hawaii Kai, Oahu 96825, $950,000, Jacob A. and Wendy A. Cherrington to Jason and Renee Young/ Robert N. Iwamoto Jr. Trustee, Tax Key 1-3-9093-052, 05/23/16.
1187 Lunalilo Home Road, Hawaii Kai, Oahu 96825, $888,000, Bonnie M.I. Coen/Cynthia W. Obayashi/Sean K. Ishii to Hsun and Malia L.H. Jou/Mona M. Jarvis, Tax Key 1-3-9-098-023, 05/20/16.
349 Opihikao Place Apt. 402, Hawaii Kai, Oahu 96825, $947,000, Mark S. and Puanani K. Hardwick to Erik N. Holmbjork, Tax Key 1-3-9-031-002-0080, 05/19/16.
888 Kapiolani Blvd. Apt. 1903, Honolulu, Oahu 96813, $882,000, OliverMcMillan Pacific Rim LLC to Jonathan Jong-In Lee, Tax Key 1-2-1-044049-0103, 05/19/16.
46-269 Haiku Road, Kaneohe, Oahu 96744, $930,000, Clayton K. and Robin L. Chan to David E. and Maria L. Sedeno, Tax Key 1-4-6-026-103, 05/19/16.
94-360 Kuanalio Way, Mililani, Oahu 96789, $879,000, Douglas A. and Cheyenne M. De La Fontane Trustees to Daniel K. Inouye Jr., Tax Key 1-9-4088-014, 05/20/16.
582 Pepeekeo Place, Hawaii Kai, Oahu 96825, $920,000, Annalise Uta Trustee to Jonathan K. and Allison N. Kapoi, Tax Key 1-3-9-037-038, 05/19/16.
493 Kaumakani St., Hawaii Kai, Oahu 96825, $875,000, Robert K. and Clarence J. Morimoto Trustees to Aramis J. and Taeya M. Brown, Tax Key 1-3-9-046-072, 05/20/16.
1009 Kapiolani Blvd. Apt. 2807, Honolulu, Oahu 96814, $920,000, Thomas and Katherine L.N. Doan Trustees to Eugene J. Jr. and Tammy M. Caruso, Tax Key 1-2-3-003-105-0247,
BUSINESS MARKETPLACE
To advertise, contact Jacie Tomiyoshi at 808-955-8050 or jtomiyoshi@bizjournals.com
Self-Directed IRAs
• Real Estate Prelicense & Continuing Education (Real Estate & CPA) • Online & Live Classes We Are the Leaders in Educating Hawaii’s Real Estate Industry.
Real Estate IRAs Precious Metals IRAs Alternative Assets Custodial Services and more...
www.abeleeseminars.com
IRAHawaii.com | 808-521-4472
44
PACIFIC BUSINESS NEWS
MYRON KIRIU
CEO/Owner, Realtor RB-17242
808.864.9000 MyronK@betterhawaii.com
MyronKiriu.com VOTED HAWAII’S BEST REALTOR
1st Place 2013- 2015
MAHALO FOR VOTING US
HONOLULU & HAWAII’S BEST REAL ESTATE FIRM
TRISTEN NAKAMURA Realtor, BIC, CRS, ABR | RB-21703
808.330.0284
TristenN@betterhawaii.com TristenNakamura.com
• Ranked among the top Better Homes and Gardens Real Estate agents nationwide • Windward Real Estate Specialist
VOTED BEST OF HONOLULU
YEARS
VOTED HAWAII’S BEST
YEARS
KIM WONG BALISACAN Realtor | RB-21263
808.258.1304
BETTERHAWAII COM
KimB@betterhawaii.com KimBHawaii.com • Voted Top 100 Realtors in Hawaii 2016 • Top 2% of BHGRE Agents Nationwide
45
JULY 22, 2016
EXPECT BETTER
SM
U
7242
om
D AII’S BEST TOR
ce 2015
MURA
1703
om m
omes and onwide
ACAN
m
ealtors in
E Agents
JAYMES SONG Realtor-Associate | RS-74206
BRETT K AKA
Realtor-Associate | RS-75473
FRANCIS VAN RAFELGHEM MICHELLE DOO VAN RAFELGHEM
808.228.3332
808.753.3923
Realtor, Realtor-Associate | RB-20516, RS-39617
808.799.8800
JaymesS@betterhawaii.com SoldHawaii.com
BrettA@betterhawaii.com BrettAkaHawaiiHomes.com
Francis: 808.256.4414 Michelle: 808.223.4719
SisiT@betterhawaii.com SisiTakaki.com
• Platinum Award Winner, 2015 • Top 100 Realtor (transactions), Hawaii Business Magazine, 2016 • Real estate columnist for the Honolulu Star-Advertiser
KAIMANAHILA ST $3,200,000 FS
Discover classic elegance in this sophisticated 5 bdrm, 4.5 bath architech-designed home in prestigious Diamond Head. Breathtaking ocean, mountain & shoreline 360 views.
OPEN HOUSE - SUNDAY 2-5PM
GUY MEROLA 808.741.0429
Realtor-Associate | RS-74723
GuyM@betterhawaii.com
STEPHEN NIKKOLA Realtor-Associate | RS-72333
• Best in Real Estate - Honolulu Magazine, 2015-2016 • National BHGRE Gold Award Winner, 2015 • Aloha Aina Award Winner 2014
KRISZTINA KOLLO
MARGIE MEDALLE
Realtor, MBA | RB-21987
STR Team Sales Director Luxury & Relocation Specialist
TABITHA MITCHELL
Realtor-Associate | RS-66919
Realtor-Associate, MBA, SRS, SRES | RS-47000
808.218.9196
808.479.8851
808.722.9510
KrisztinaK@betterhawaii.com KrisztinaHomes.com
MargieM@betterhawaii.com
TabithaM@betterhawaii.com YourHawaiiHomes.com
• Top 5% of BHGRE Agents Nationwide, 2015 • Voted “Best in Real Estateâ€? 2014 & 2013 • Fluent in English, Hungarian and Romanian
COLIN LEE
Realtor-Associate, CPA*| RS-75820
808.351.4107
808.352.8587
StephenN@BetterHawaii.com StephenNikkola.com
ColinL@betterhawaii.com BetterHawaiiHomes.com
• Top 5% of BHGRE agents nationwide • National BHGRE Gold Award Recipient, 2015 • Voted Best in Real Estate, 2016 • Best of Honolulu Real Estate Firm
FrancisV@betterhawaii.com MichelleV@betterhawaii.com OahuDreamHome.com
SISI MAW TAKAKI
• Top 15% of Realtors Nationwide with BHGRE, 2014-2015 • Voted Best in Real Estate - Honolulu Magazine, 2015-2016 *Full-time Realtor. Not practicing public accounting
Platinum Award Winner Top 3% of BHGRE agents nationwide
SEAN TAKAMORI Realtor-Associate | RS-72402
808.389.7326 SeanT@betterhawaii.com SeanTakamori.com • Top 100 Realtors, Hawaii Business Magazine 2015 • BHGRE Gold Award Winner, 2015 • “Best In Real Estateâ€?, Honolulu Magazine, 2013-2015 2015
MOST
TRANSACTIONS IN REAL ESTATE
Realtor-Associate, CPA | RS-77233
• 2016 Hawaii Magazine Reader’s Choice for Best REALTOR • Certified Public Accountant, active in Hawaii • 15 years in public accounting • 10 years personally investing in Hawaii real estate
ALEWA DR FS
Rare secret in Alewa Heights! 4 bd/4 ba home on large private, rim lot. Panoramic views w/2 family rooms, unique master bath w/whirlpool, central air, large cedar lined walk-in closet, and wine cellar. Ideal for multi-generational living. OPEN HOUSE - JULY 24, SUNDAY 2-5PM pm 7/,
MYRON KIRIU 808.864.9000
Realtor | RB-17242 MyronK@BetterHawaii.com
Š2016 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and GardensŽ is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.
46
PACIFIC BUSINESS NEWS
OPINION
Send letters to Pacific Business News 737 Bishop St., Suite 1590 Honolulu, HI 96813 pacific@bizjournals.com
Pacific Business News welcomes letters to the editor
PUPU PLATTER NO. 34
Power, Pineapple Awards and PBS Wires Crossed Whew, what a relief! For a moment there, I thought Hawaii might do something wild and crazy, A. Kam Napier like, say, let Editor-In-Chief’s one of the leading players Notebook in the nation’s energy sector take over our tiny, antiquated electric utility in the middle of the Pacific. Fortunately, the Public Utilities Commission stepped up to the plate and bravely voted to keep Hawaii ... exactly the same as it is. No, NextEra Energy may not acquire Hawaiian Electric Co. The PUC’s full, 410-page decision is basically a lengthy version of, “NextEra isn’t from around here, see. And they might put managers in place who aren’t from around here. And their ownership structure is really complicated and also not from around here.” The decision keeps mentioning a concern for “local governance,” to the point of being disingenuous. Other utilities the PUC regulates have Mainland ownership. And the PUC is leaving something out of this argument, namely, itself. The PUC is the local governance. No matter where the utility’s managers come from, every major decision they might want to make here has to go before the PUC for approval. Any rate increases, any contracts for new technology,
R WHAT
DO YOU THINK?
Pacific Business News welcomes letters from readers. We reserve the right to edit for space and/or clarity. All letters must be typewritten or emailed and include the writer’s name, address and phone number. Mail to: Pacific Business News, 737 Bishop St., Suite 1590, Honolulu, HI 96813. Send via the Pacific Business News website at PacificBusinessNews.com. Submissions become the property of PBN and may not be published or used in any other medium.
even the amount that the utility is allowed to keep as profit — it’s all subject to PUC approval. I’m also not convinced that the purchase would have “diminished robust competition” in Hawaii’s energy market, as the PUC claims. The state of Hawaii is suddenly interested in free, competitive energy markets? This is news to me. In fact, the PUC exists to ensure stability and standardization, to control the chaos of competition. I don’t see where going from one company owning three utilities to a different company owning those same three utilities would’ve been a change of any kind in the competitive environment — except that the new guys wouldn’t have been local. Did you notice that? I know I mentioned it just a few sentences ago, but the PUC is very, very serious about this. I think the PUC would want me to remind you, right now, that NextEra is not from Hawaii. Consider yourself protected from Mainlanders who don’t understand us Island people. Bottom line, here’s what the real, robust competitive market thinks of the PUC’s decision: After it said no to the deal, NextEra’s stock price went up. Hawaiian Electric Industries’ price dropped. That’s the world saying, “NextEra, you dodged a bullet, good for you. Hawaii, you blew it.” Hey, I hear some people, who also may not be from around here, want to build a really cool telescope on the Big Island. Maybe we can put a stop to that, too?
R BUSINESS
More Pineapple! Awards that is. We’ve just added a category to our fledgling Pineapple Awards, Event Planning Company of the Year. Please see bizjournals. com/pacific/nominations for more information. We’re still accepting nominations for the Pineapple Awards categories celebrating business excellence and contributions to community within the visitor industry. The deadline for nominations is Aug. 5. The event will be held Sept. 22, at the Hawaii Convention Center. Insights on PBS Hawaii Mahalo to PBS Hawaii for having me on last week’s “Insights” episode concerning small business and politics. Daryl Huff moderated the panel discussion, taking us through such topics as regulation and taxes, the minimum wage, health care costs on business and more. Fellow panelists were state Sen. Glenn Wakai, small business coach and owner of the Kamuela UPS Store Kari Waldhaus and owner of Hawaiian Cool Water Michael Hernandez-Soria. If you missed it, the episode is available online at bizj.us/1nfm24. Keep an eye on “Insights,” which is devoting itself to political matters that affect Hawaii through the election season. On, Aug. 1, for example, “Insights” will host a roundtable discussion among the three top candidates for mayor, including Honolulu Mayor Kirk Caldwell and his challengers Peter Carlisle and Charles Djou. Surely
rail, something we’ve covered regularly at PBN, will be a topic.
Chinatown Change Received a great note from architect Dean Sakamoto after our July 15 cover story on the major public and private attempts to clean up Chinatown. He reminds me his design nonprofit SHADE Institute held a series of pro bono design workshops in the neighborhood last summer, resulting in 12 specific recommendations. See them all at shadegroup.org/vision-map. One of the them, River Street Market Kiosks, is poised to get city funding in 2017 for design and construction. “What Chinatown really needs is a neutral community development organization which can oversee the drafting of a community-based plan (independent of government) and its ongoing revisions and updates,” Sakamoto wrote to me. “Such an organization can also advocate for property owners, businesses and residents to create a vision and work towards it on a day-to-day basis with the inclusion of many. Rather than three ‘plans,’ Chinatown needs one REAL plan, which will take private-sector leadership with a creatively organized process of visualization and realization over time.” He also mentioned that the Chinese Chamber of Commerce is creating a Chinatown Vision Center which he feels could be the catalyst for this.
PULSE SURVEY
WE ASKED
Does the PUC’s decision to deny NextEra Energy’s acquisition of Hawaiian Electric Co. worsen Hawaii’s reputation as anti-business?
70.7% Yes
24.1% No
For more surveys see bizjournals.com/pacific/pulse
5.2% Not sure
47
JULY 22, 2016
SOCIAL CAPITAL
Kathleen Lin-Hurtubise’s mission K athleen Lin-Hurtubise’s company is in growth mode. She worked solo for the first seven years after founding Gourmet Events Hawaii, hiring her first employees in 2010. But in the past year alone, she’s hired hundreds more — casual hires to work every facet of an event — and launched a new division called Staffing by GEH. Lin-Hurtubise, who started the business in 2003 by catering private events, now has 15 full-time employees on staff who produce anywhere from five to 15 events each week — corporate events, nonprofit galas, store openings — they catered the Bloomingdale’s and Nordstrom openings at Ala Moana Center — weddings, private parties and off-site events for some of Hawaii’s best-known chefs. Last fall, her company was awarded a contract to provide staff — such as bartenders and waiters — for events at the Hawaii Convention Center, and the Staffing by GEH roster of hospitality workers grew from about 125 to some 900 people. Some of that can also be attributed to a growth in the corporate event business and for weddings. Lin-Hurtubise says her company is not just about catering or providing hospitality staff — its mission is to elevate the level of service in Hawaii’s hospitality industry. Lin-Hurtubise recently told PBN she plans to take that mission statewide, and plans to expand its event production and staffing service to Maui, the Big Island and Kauai within the next three years. Q&A BY JANIS L. MAGIN
How many divisions does your company have now? We call them pillars. We have our corporate division, which does a lot of corporate events, both national and international corporate events, and then we have our weddings division. Our private dinners fall under the weddings and celebrations division, and then we have a staffing division — Staffing by GEH. So we’re a hospitality staffing company. Both event planning and staffing. How long have you been doing staffing? We’ve done staffing for a long time. When we have an event, and we have our chef partner and we have our rentals and such, you need people who do event setup and you need people who
TINA YUEN
R CLOSER
LOOK
KATHLEEN LIN-HURTUBISE Founder and President, Gourmet Events Hawaii and Staffing by GEH Address: 1917 Colburn St., Honolulu, HI 96819 Phone: 808-735-7788 Website: gourmeteventshawaii.com
run the event — the coordinator, the wait staff, the bartenders. I learned early on that it was far more predictable if we had staff internally; casual hire staff that we could deploy on demand for our own events. We were getting lots of requests to do weddings and corporate events and tried leasing from a staffing agency. What I realized was there wasn’t a specific niche for hospitality staff. We found that it was inconsistent, so we started hiring people ourselves as casual-hire employees and that just grew and grew. Last year we were at about 125 staff that were
on our casual-hire team that we would lease out and deploy on demand. And then we won the contract for the convention center. How many more people did you hire? We do over 500 events a year, off site, that didn’t even include the convention center. Now we have close to 900 casual staff in our system. Did you have to hire more full-time people to handle this? We did. We’ve hired a handful of people that are staffing-specific. They’re in the hospitality industry and they have that background but they’re there really to support hiring and processing and training our casualhire staff. There’s a staff trainer, Greg Montgomery, and he specifically works in the field the majority of time to really elevate the guests’ experience and elevate our staff’s skills at a high level of service. How does hospitality staffing tie in with your company’s mission? If you think about Pacific Rim
cuisine, 25 years ago, people would come to Hawaii for sun and sand but they didn’t come for the food. Now, what these key people did in elevating Pacific Rim cuisine really changed people’s perspectives in terms of why they come to Hawaii. And that’s really cool. People actually travel here because we have really talented chefs and great food. So that’s really what our mission is, to elevate hospitality here across the Islands. Really elevating service [so that] when people think of Hawaii, they’re thinking top-notch service. How has the company grown so much? I think it’s because we have been very consistent over the years. We’ve been consistent with timelines in getting back to potential clients. Being really clear and accurate with our logistics, and our execution, I think, just improves as we grow. Last year I think we grew about 40 percent, and this year we are aiming to almost double, close to 100 percent growth.
48
PACIFIC BUSINESS NEWS
PACIFIC BUSINESS NEWS INTRODUCES
The Inaugural 2016 PBN Pineapple Awards, honoring the best of the best in Hawaii tourism and hospitality. Honorees will be recognized at a cocktail reception in September. Nominations are open today! Nominations are being accepted online at BIZJOURNALS.COM/PACIFIC/NOMINATION
… Categories are: LEADERSHIP IN HOSPITALITY MANAGEMENT LARGE HOTEL OF THE YEAR - OAHU LARGE HOTEL OF THE YEAR - NEIGHBOR ISLAND BOUTIQUE HOTEL OF THE YEAR LEADERSHIP IN ATTRACTIONS & ACTIVITIES LEADERSHIP IN FOOD & BEVERAGE
Sponsor