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HAWAII
Maui home prices rise, inventory falls
Home prices on Maui continued to move up in January, according to new figures from the Maui Association of Realtors.The median price for a single-family home on Maui was $385,000, up 24.2 percent from a year earlier.
Condominium prices also continued to rise in January. The median price paid for a condominium on Maui in January was $240,000, an increase of 20.4 percent from January 2002.
Even though the total dollar volume of sales shows continuing strength, the number of sales in January dropped, reflecting a continuing decline in available inventory on the Valley Isle.
A total of 49 single-family homes and 63 condominiums sold during January. Last year during the same period, 63 single-family homes and 70 condominiums changed hands.
Kajima aquarium plan to proceed
The Hawaii Community Development Authority today signed an agreement to let KUD International LLC develop a plan for an aquarium and marine research facility on the Kakaako waterfront.The agency, which is responsible for the redevelopment of Kakaako, agreed in November that it would negotiate only with KUD for one year concerning the aquarium rights. Now that has been extended to a formal right to work out detailed plans.
Marvin J. Suomi, chief executive of KUD International, said preliminary plans for the 10.4-acre site at Point Panic call for a six-story aquarium building of 120,000 to 150,000 square feet and an adjacent marine research center to be operated with the University of Hawaii. There would also be a commercial biomedical research center.
KUD is a subsidiary of Kajima U.S.A. Inc., which is owned by Japan-based Kajima Corp.
Magazine lauds Aloha's service
Aloha Airlines has won the 2002 "Diamond Award" from an international magazine for in-flight services on its mainland-Hawaii flights. Judges for the magazine Onboard Services selected Aloha for what they said was its "extensive passenger in-flight service program from start to finish."Aloha, which has been flying to the mainland for three years, is "a small airline doing big things," said Alex Morton, president of the magazine's publisher, International Publishing Co.
Among other services, the airline promotes Hawaii regional cuisine for its passenger meals. Competitor Hawaiian Airlines won the magazine's Diamond Award for 2001.
MAINLAND
Delta, US Air combat war worries
Washington >> Delta Air Lines Inc. and US Airways Group Inc. said they'll ease some fare restrictions to allow passengers to reschedule air travel without penalty amid concerns a war in Iraq would further hurt reservations, according to a Bloomberg News report.Delta said it will let customers on transatlantic routes rebook flights purchased from March 5 to March 31 for travel this year without penalty or additional fees. US Airways will permit customers to alter reservations on any route in the event of war or if the Homeland Security Department issues a "code red" alert, the company said in a statement on PR Newswire.
Most airlines have had lower sales since the Sept. 11 attacks and expect further declines in travel caused by the threat of war.
INTERNATIONAL
Daiei plans to open 2 new stores in Japan
TOKYO >> Struggling supermarket chain operator Daiei Inc. has drawn up a plan to open two new supermarkets, its first addition of new outlets in two and a half years, Daiei officials said yesterday.The first will be set up in the city of Kitakyushu around April and the second in Kobe in the fall, the officials said. Both stores will specialize in food items.
In February last year, Daiei divulged a three-year restructuring program featuring 520 billion yen in financial aid from three of its major creditor banks in the form of debt waivers and debt-for-equity swaps.
Daiei is now in the final phase of talks with its affiliate Maruetsu Inc. on a proposal to cede its vice chairmanship to Maruetsu President Heihachiro Yoshino, who was a senior Daiei official until 1984.
Euro hits $1.10 on fears over weak dollar
BERLIN >> The euro topped $1.10 for the first time in nearly four years today amid concern that war in Iraq could disrupt the U.S. economy and signs that the United States will not act to boost its currency.The euro rose to $1.1001 in morning trading in Frankfurt before dropping back to about $1.0980 by late afternoon. Europe's common currency hasn't been stronger against the greenback since March 19, 1999.
The euro closed at $1.0953 in New York composite trade.
The euro has gained about 10 percent against the dollar since November, as worries about the U.S. economy and stock markets turned to alarm that an Iraq conflict that could drive up oil prices and dry up investment.
[Hawaii Inc.]
NEW JOBS
>> American Detection Technologies Inc. has named Charles P. Smith vice president for Pacific operations, putting him in charge of the company's new partner, Spectrum Security Services Ltd. of Honolulu. He has more than 27 years of experience in law enforcement, security, counter-terrorism and canine training. Amdetech specializes in contraband detection services using dogs. It will manage Spectrum's security guard and passenger screening business throughout Hawaii.>> Sean Mullen has been named Waikoloa Beach Resort's King's Grille Restaurant manager. He will oversee the restaurant's day-to-day operations and staff development.
>> John Hobus and Ally Uyehara have been named sales and marketing executives at KHNL-TV and KFVE-TV. Hobus most recently worked in sales at Delphin Computer Supply in Los Angeles. Uyehara was a marketing representative at Ceridian Employer Services. KHNL and KFVE are owned by Raycom Media.
RECOGNITION
>> Castle & Cooke Realty Inc. has named Teana Vann Realtor of the Year for 2002. The award honors her accomplishment of having the highest sales volume of the year, totaling more than $7 million. This is the second year in a row that Vann earned this title. She has more than 23 years of real estate experience in Hawaii and joined Castle & Cooke Realty in 2000.
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