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POSTED: Saturday, July 18, 2009

Island Air drops Hilo-Kahului service

Island Air said it will discontinue service between Hilo and Kahului due to economic conditions.

Island Air also is decreasing its Kona-Kahului flights to once a day from twice daily. The carrier, however, said it will add one daily flight to its Honolulu-Lanai service and will now offer seven a day.

The changes will take effect Aug. 17.

Central Pacific stock hits new low

Central Pacific Financial Corp.'s stock hit an all-time low for the third day in a row yesterday as it sank 5 cents, or 2.3 percent, to $2.15. The shares fell 36.7 percent for the week after the parent of Central Pacific Bank said it would lose up to $37 million in the second quarter and that it would hold a secondary stock offering to raise $100 million. The stock has plunged 78.6 percent since the start of the year.

State gets another Chapter 7 trustee

Attorney Richard Yanagi has been appointed as a Chapter 7 panel trustee by the Office of the United States Trustee, joining David Farmer and Dane Field.

Yanagi, who graduated from Harvard University and obtained his law degree from Hastings College of the Law, is currently a Honolulu-based solo practitioner in commercial law, collections and landlord-tenant litigation.

From 1994 to 2004 he served the firm of Alston Hunt Floyd & Ing as an associate and “;of counsel.”;

Trump Waikiki taking reservations

Trump International Hotel Waikiki Beach Walk is now accepting online bookings at http://www.trumpwaikikihotel.com.

The 38-story tower is slated to open in early November and is accepting bookings starting Nov. 16 at special introductory rates that range between $255 per night for a studio to $8,000 per night for a penthouse suite.

Los Angeles developer Irongate is building the project with a license to use the Trump name.

Besides a polished Egyptian marble floor, the hotel's lobby features custom wood panels and commissioned murals and paintings. The hotel will offer Laurent Tourondel's BLT Steak, the Spa at Trump and Trump Kids, which addresses the needs of younger guests.

Reservations also can be made at (877) 683-7401.

Some 7-Eleven gas sites shifting to 76

Sixteen gasoline stations at 7-Eleven store locations on Oahu will begin converting to 76 brand gasoline this week. The process will continue through August.

Mid Pac Petroleum, which has the exclusive rights to the 76 brand in Hawaii, formed a partnership with 7-Eleven Hawaii Inc. to replace the Aloha Petroleum brand of gasoline at 16 Hawaii 7-Eleven stores. These new locations are in addition to five 7-Eleven stores that currently offer 76 gasoline on Oahu.

On the move

The Hawaii chapter of the Counselors of Real Estate has announced the following slate of officers for the current fiscal year:

» David McCoy, chairman. He is trustee of the Parker Ranch Foundation Trust and a former chief executive officer of the Estate of James E. Campbell.

» Christine Camp, vice chairwoman. She is president and CEO of Avalon Development & Consulting.

» Glenn Kunihisa, secretary. She is president of ACM Consultants Inc. of Maui.

» Paul Cool, treasurer. He vice president of John Child & Co.

» Alexa Jacroux Biggs has been hired as geographic information systems project manager at Belt Collins Hawaii. She previously was a geographic information systems specialist and planner for the Onyx Group.