Reported by Star-Bulletin staff & wire
HOMEGROWN PRODUCTS
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Big Isle investor buys W Honolulu
Big Island real estate investor Brian Anderson has purchased the W Honolulu Diamond Head, a small luxury hotel aimed at the business traveler and the high-end leisure market, for an undisclosed price.The 13-story hotel, at 2588 Kalakaua Ave., was the Colony Surf until Starwood Hotels & Resorts Worldwide took over the management in October 1999 and renamed it. The hotel went through a $10 million renovation in 1997 and was improved some more before Starwood came on board.
Colony Capital Inc., a Los Angeles-based investor that has made a number of significant investments in Hawaii over the past decade, bought the Colony Surf in 1996 for $10 million in a foreclosure auction. The company began soliciting a buyer for the property several years ago -- listing the property for $9.8 million in 2002. A Colony spokesman declined comment yesterday.
According to a listing notice, the hotel stands on 11,848 square feet of fee-simple land and 16,598 square feet leased from several family trusts. The hotel across from Kapiolani Park has 46 studio units, two suites overlooking the ocean and a 2,542-square-foot penthouse suite. There is also a restaurant on the second floor, the Diamond Head Grill.
Anderson, who could not be reached for comment, is the son of D.G. "Andy" Anderson, veteran state legislator, developer and restaurateur who ran for governor in 2002.
Qantas hikes surcharge because of oil prices
Australian flag carrier Qantas raised fuel surcharges today on domestic and international tickets, blaming the skyrocketing price of crude oil prices.Beginning Aug. 26, the airline's domestic fuel surcharge will rise to $7.24 from the $4.34 fee it imposed in May, Qantas announced in a statement. The international surcharge rises to $15.93 from $10.86.
Oil prices neared $49 yesterday on the New York Mercantile Exchange.
[Hawaii Inc.]
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NEW JOBS
>> Island Insurance Cos. has hired Keith Murota as a personal lines underwriter. He will be responsible for performing basic business underwriting and processing new and renewal issues from the company's appointed agencies. He previously served as a personal lines representative with a local insurance firm.>> Communications Pacific has hired three employees. Pua Aiu was hired as a senior account executive in its community building practice. She will be responsible for working with government and private-sector clients on projects and cultural issues. She previously worked as an Office of Hawaiian Affairs policy analyst. Chad Lovell and Starr Wedemeyer were hired as account executives. Lovell previously worked a KITV producer and weekend assignments editor. Wedemeyer most recently served as Hawaii Woman magazine senior editor.
PROMOTIONS
>> Bank of Hawaii has promoted two employees to senior vice president. James P. Garcia has been promoted to senior vice president and senior audit manager for the bank's internal audit department. He has more than 27 years of experience in the financial services industry. Thomas J. Laudick has been promoted to senior vice president and auto finance department manager. He previously worked as GMAC marketing sales manager.
