Mortgage rates rise above 5%

McLEAN, Va. » Rates on 30-year fixed mortgages climbed above 5 percent this week as a Federal Reserve program geared to keep interest rates low came to an end.

The average rate on a 30-year fixed rate mortgage rose to 5.08 percent this week from 4.99 percent last week, mortgage finance company Freddie Mac said yesterday.

The average rate on a 15-year fixed-rate mortgage was 4.39 percent, up from 4.34 percent last week.

Hawaiian steps up Oakland flight

Hawaiian Airlines has moved up the start date for its Oakland, Calif.-Maui flight by 13 days to June 4 due to strong customer demand.

The Oakland-Maui flight is a first for Hawaiian and will be operated through Sept. 6. The flight will depart Oakland daily at 12:30 p.m. and arrive on Maui at 2:20 p.m. The return flight will depart Maui daily at 9:35 p.m. and arrive in Oakland the following morning at 5:25 a.m.

HMAA closes Summerlin deal

Hawaii Medical Assurance Association has closed its previously announced acquisition of Summerlin Life and Health Insurance Co. in Hawaii.

The merger gives HMAA an additional 20,000 members and brings its total membership to 46,000.

“;Our team has been working diligently to ensure a smooth transition for our new members,”; said John Henry Felix, HMAA's chairman, president and chief executive officer.

“;We want to reassure that their existing benefit plans are still in effect now that they are part of HMAA.”;

State bankruptcy filings up 32.2%

Statewide bankruptcies rose 32.2 percent in March over the year-ago period, according to final monthly data yesterday from the U.S. Bankruptcy Court for the District of Hawaii.

The 357 total filings were the most in a month since October 2005, when the federal law was changed to make it more costly and difficult to file for bankruptcy. There were 270 cases filed in March 2009.

Preliminary numbers were disclosed yesterday in the Star-Bulletin.

For the individual chapters, Chapter 7 liquidation filings rose 26.8 percent to 293 from 231; Chapter 13 filings, which allow individuals with regular sources of income to set up plans to pay creditors over time, increased 57.9 percent to 60 from 38; and Chapter 11 reorganization filings grew 300 percent to four from one.

City is seeking youth job partners

The City and County of Honolulu is inviting businesses from the nonprofit and private, for-profit sectors to participate as work sites in the Workforce Investment Act program, providing work experience employment to economically disadvantaged youth and young adults ages 16 to 21.

Businesses interview and select the workers referred by the city who match the requirements of their job openings. The city provides work readiness training and pays the workers up to $10 an hour for 32 hours per week. The program projects to employ at least 100 young workers from May to November.

Interested businesses should download the applications from http://www.owib.org and return completed applications to WIA Youth Program, 1505 Dillingham Blvd., Suite 216, Honolulu 96817, Attn: Carla Harada.

For more information regarding applications, call Erick Pascua at 832-7823.

ON THE MOVE

Bella Pietra has promoted Carol “;Hi'ilaniwai”; Higa to purchasing assistant from general assistant. She joined the company as a receptionist and has more than 15 years' experience in customer service and sales.

RevoluSun has hired Brian McDonald as project developer. He was previously a Realtor in Costa Rica and Colorado.

Kalama Heights Retirement Community has promoted Dana L. Ward to manager of the company from manager of the enrichment program. Her experience includes being a licensed massage therapist and an AT&T account representative.