Business briefs


POSTED: Friday, December 25, 2009

Hawaii Habitat gets $360,000 award

First Hawaiian Bank has received a $360,000 Affordable Housing Program award, which it is giving to Hawaii Habitat for Humanity Association to use in the construction of 30 single-family homes.

The money received from First Hawaiian was part of nearly $2.8 million in Affordable Housing Program subsidies that the Federal Home Loan Bank of Seattle is supplying its members to fund 10 projects in Hawaii, Oregon, Washington and Wyoming.

The AHP awards will be used to help create 258 units of housing for very low-, low- and moderate-income households, including those with special needs, homeless individuals and families, and native people.

The Seattle bank is a wholesale financial cooperative that distributes AHP funding through its community financial institution members, who in turn work with for-profit and nonprofit organizations in their communities to address local housing needs.

Since the program's inception in 1990, the AHP has contributed nearly $139 million to help finance more than 27,000 affordable rental and owner-occupied homes for families or individuals earning 80 percent or less of their area's median income.


Friends of the Library receives grant

The Honolulu Board of Realtors has awarded a $10,000 grant to the Friends of the Library Hawaii.

“;Hawaii's public library system does more than just provide access to books, videos and online services; it teaches and nurtures a love of reading and of lifelong learning, which our Realtors strongly believe in,”; said Sandra “;Sam”; Bangerter, president of the Honolulu Board of Realtors.

Friends of the Library of Hawaii, founded in 1879, is a nonprofit organization whose primary objective is to maintain free public libraries in the state, to promote extension of library services throughout the state and to increase the facilities of the public library system of Hawaii by securing materials beyond the command of the ordinary library budget.


Good-faith estimate call center debuts

Title Guaranty of Hawaii said it has become the first title and escrow company in the nation to implement the first good-faith estimate call center.

The move was in response to the U.S. Department of Housing and Urban Development's Real Estate Settlement Procedures Act Reform, which becomes mandatory next Friday.

HUD's objective in mandating the RESPA Reform is to help homebuyers make informed financing decisions. Lenders will be required to provide borrowers with the new RESPA Reform good-faith estimate upon application. In addition, escrow companies will be required to provide homebuyers with the RESPA Reform HUD-1 settlement statement, which should closely mirror the good-faith estimate.

Title Guaranty's good-faith estimate call center is open weekdays from 8 a.m. to 8 p.m., and on weekends the company will provide same-day quotes. The center can be reached at 592-6220, toll free at (866) 295-5601 or by e-mail at .(JavaScript must be enabled to view this email address). The company has decided to wait to release its online good-faith estimate estimator until lenders and HUD have finalized their requirements.



; Marriott International has appointed Chris Tatum to vice president in charge of the company's portfolio of hotels and resorts in North Asia, Hawaii and the South Pacific. He has 28 years of experience with the company and previously was general manager of Waikiki Beach Marriott Resort and Spa as well as opening resident manager at JW Marriott Kuala Lumpur Malaysia, opening general manager of Brisbane Marriott Hotel in Australia and general manager of Renaissance Wailea Resort Maui.

Sopogy Inc. has promoted Van Matsushige to vice president of sales from market manager servicing Asia-Pacific markets. He has more than 15 years of general and sales management experience including as general manager at Energy Industries Corp.

The Hawaii Chapter of the Appraisal Institute has announced its 2010 officers: Ted Yamamura, president; Wayne Sadoyama, vice president; George Hao, secretary/treasurer; and Steve Hayamoto, Andrew Conboy, Craig Smith, Lillian Izumi, Leslie Roach-Laing and Stephen Stadlbauer, directors.