Network reporter Okita coming home

Former CBS News correspondent Teri Okita will be back on local airwaves Aug. 2 in her new role as a reporter for Hawaii News Now.

She is an alumna of KGMB-TV, one of the stations that comprise Hawaii News Now, having served the station as an anchor from 1992 to 1996.

Since then she has worked for another CBS affiliate, WUSA-TV in Washington, whence the network hired her to work for its Newspath service that serves affiliate stations with stories. Her duties have taken her from war zones to domestic disasters to red-carpet events.

“;I'm excited to return to my 'news roots,'”; Okita said in a statement, adding, “;I can't wait to reconnect with the Hawaii viewers who have always remained close to my heart.”;

Honolulu retail vacancy rate falls

Honolulu's retail vacancy rate fell to 2.87 percent in the past six months, the lowest level since year-end 2006, according to a midyear retail market report from commercial real estate consultancy Colliers Monroe Friedlander.

Stabilization of the state's lead tourism industry and growth in home sales as a result of an expiring federal tax credit program benefited retailers. As much as 73,159 square feet of vacant retail space was rented by midyear, aided by Bed Bath & Beyond's leasing of the 48,000-square-foot former Circuit City space in Pearlridge Center. Ward Centers and Windward Mall also grew. Still, lingering economic uncertainty contributed to a decline in asking rents, which are down to $3.51 per square foot per month. Asking rents are 6.1 percent lower than the peak of $3.74 per square foot per month established at year-end 2008.

Wyndham Grand lands in Hawaii

Wyndham Hotels and Resorts, part of the Wyndham Worldwide family of companies, said the brand's first new project in Hawaii also will be the first to fly the Wyndham Grand flag: a 322-unit luxury resort and residential development being built on a 25-acre tract at Poipu Beach on the south shore of Kauai.

Koloa Landing at Poipu Beach Wyndham Grand Resort is owned by Poipu Beach Villas LLC, a Salt Lake City-based consortium, and is being developed in multiple phases. Construction began in June 2008.

Japanese economy again on move

TOKYO » Japan's economic growth accelerated in the first quarter, as robust exports spurred companies and consumers to boost spending.

Real gross domestic product grew at an annual pace of 4.9 percent in the January-March period, the government said yesterday.

On the move

» Bank of Hawaii has announced three senior management promotions:
— Stafford J. Kiguchi has been promoted to executive vice president of corporate communications and government relations at Bank of Hawaii. Kiguchi was previously senior vice president of corporate communications and government relations.
— Donald G. Charles has been promoted to senior vice president in the Investment Services Group's Compliance and Risk Management Department at the bank. Charles will continue his duties as the Investment Services Group's risk manager and the Asset Management Group's chief compliance officer.
— Masahiko “;Mike”; Hara has been promoted to senior vice president and Japan market manager. He was previously vice president and team leader of the bank's International Banking Division.

» Marriott International has named Michael Nisky as general manager of Waikiki Beach Marriott Resort & Spa. He has 35 years of hospitality industry experience.

» Doug Davis Realty has hired Yoshiko Koike as Realtor associate. Her experience includes retail buyer within the surf/snowboarding industry with companies such as Rusty and SMP.