*****Foreclosure Filings Up In Hawaii*****
Last month the foreclosure filings tripled in the state of Hawaii. The filing rate in our state is now 1 for every 1,266 the national average is 1 for every 452 households. Nevada had the worst foreclosure rating 1 for every 74 households and the state of Vermont had the best at 1 for every 23,812 households! Our Hawaii foreclosures are largely with mainland banks which reflect safety and security with our local banks First Hawaiian and Bank of Hawaii. These Hawaii banks have foreclosed on very few properties and are still making loans. So what was our activity here on Kauai last week? For an excel spreadsheet CLICK HERE
*****Puhi Safeway Store Takes Another Step Forward*****
Before making a decision on issuing permits for Safeway to build its second store here on Kauai public concerns were aired in the Mokihana building on Wednesday. The store will be open 24 hours 7 days a week and the rest of the shopping center would be open 10 to 10. Four acres of landscaping would help to mitigate the impact of the buildings. The pubic showed general support but did express concerns with parking, mountain views and the shopping center being so close to a school. If this issue can be resolved in the way the Safeway representatives outlined then the public was supportive of the plan.
*****Southwest Airlines Coming To Hawaii?*****
Looking towards expansion in the International, Caribbean and Hawaii markets Southwest Airlines is overseeing the upgrading of their reservation system and are talking with other established airlines abut “code sharing” , a system that is a low risk way for the airline to expand into new frontiers by sharing seats with an established airline.
*****Hawaiian Airlines Adds Another Airbus A330*****
In keeping with their announcement to add 24 planes to their fleet Hawaiian Airlines purchased their 3rd plane; an Airbus A330-200. The Airbus A330 will seats 298 passengers and can fly 6,050 nautical miles allowing Hawaiian to fly farther than its current aircraft Boeing 767-300ER.
*****Hawaiian Telcom May File For Bankruptcy*****
Hawaiian Telcom, Hawaii’s largest telephone company on the islands, hinted they may file for bankruptcy on Friday. After posting a loss of 34 million in the third quarter, the company filed documents with the SEC stating that they may seek court protection if talks with their creditors fail. Currently the company is carrying more than 1 billion in debt. Earlier this month Hawaiian Telcom made the papers when they postponed a $26 million interest payment prompting speculation on a public level to their solvency.
*****Hawaii Quarter Released*****
On Monday the last quarter in the 50 State Quarter program was issued to an exuberant crowd snaking a line down Bishop Street in downtown Honolulu. The quarter depicts King Kamehameha with and outstretched arm towards the Hawaiian Islands and our States moto ” Ua mau ke ea o ka aina I ka pono” (The life of the land is perpetuated in righteousness). With the Obama being the first Hawaii born President elect the quarters and election seem to have great timing.