Isle gas prices continue to fall

Gasoline prices fell again throughout Hawaii for the 10th straight week, according to AAA. Statewide, the gas price average fell by another 19 cents over the past six days to $2.61 a gallon.

Yesterday's average price in Honolulu was $2.51 a gallon for unleaded, down 19 cents from last week's price, 70 cents less than last month, and 81 cents lower than this time last year. In Hilo, the average price was $2.68 a gallon, down 22 cents from last week, 67 cents less than last month, and 74 cents lower than this time last year. The average price in Wailuku was $2.97 a gallon, 22 cents less than last week, down 84 cents from last month, and 85 cents lower than last year.

“;Drivers all over the country are continuing to get a break at the gas pumps,”; AAA Hawaii Regional Manager Richard Velazquez said in a statement. “;Crude oil, which reached a record price of $147.27 a barrel on July 11, is currently trading around $42.”;

Hoku sells Kapolei headquarters

Hoku Scientific Inc. said yesterday it closed the sale on Tuesday of its fee-simple interest in its corporate headquarters in Kapolei. The property was sold to Operating Engineers Local Union No. 3, District 17, Hawaii, for $5.8 million.

An offer by Operating Engineers to buy the property was accepted July 10. In July, Hoku entered into a six-month loan of up to $3.5 million with Bank of Hawaii, secured by the company's fee-simple interest in the property. Hoku said it has paid off the loan.

The company has not announced a new headquarters but said it plans to stay on Oahu.

Aloha Air Cargo offers two sales

Aloha Air Cargo said yesterday it is offering a kamaaina holiday special that includes a 30 percent discount on all interisland express shipping costs for Hawaii residents from tomorrow through Dec. 24. Visit Aloha Air Cargo's new Web site, http://www.AlohaAirCargo.com, to register for a printable coupon.

The company has overnight delivery, making packages available for pickup by 7 a.m. at the destination facility. It is also offering a half-off discount to members of the Hawaii Farm Bureau when shipping their locally grown or made packaged products to Honolulu.

Proof of residency is required for the kamaaina deal, while a current Hawaii Farm Bureau membership card and picture identification are required for the Farm Bureau deal. Shipments are subject to a $19.95 minimum charge and a 6.25 percent federal transportation tax.

Hawaiian Telcom OKs incentive plan

Hawaiian Telcom Communication Inc.'s board has approved a one-time performance-based incentive ranging from $57,000 to $2.3 million for executives, the company said in its most recent regulatory filing. The approval came on Nov. 28, three days before the company filed for bankruptcy protection.

The incentive is an effort to offset the “;company's lack of an adequate long-term performance program and to align executive performance with the overall performance of the company during the company's ongoing balance sheet restructuring and for a subsequent defined period of time.”;

  The incentives are dependent upon achieving targets in areas such as cash flow and revenue and are based on the long-term compensation commitments made at the time of hire.

Daddy's done good

Hula Daddy Coffee of Kona has received a 97-point score out of a possible 100 for its Sweet Kona Light Roast coffee in the December edition of Coffee Review. The score makes Hula Daddy the highest-ever rated Hawaiian coffee and ties three other rare coffees worldwide that have received an equivalent score in the publication's 11-year history. Above, a Kona coffee plant.