Business/In Brief • Oct. 8, 2013
Larger subsidy sought to provide Internet
HONOLULU – Hawaiian Telcom is asking the Federal Communications Commission for a larger subsidy to provide broadband Internet to rural areas in Hawaii.
The Honolulu Star-Advertiser reported Monday that the telecommunications company is asking for the funds as part of the FCC’s “Connect America” program.
The FCC says Hawaiian Telcom has already received about $1.4 million to subsidize broadband service to more than 1,800 homes.
The next phase of the program is expected to last five years, with $1.8 billion to be spent nationwide.
The FCC plans to adjust to a location-specific funding formula that reflects “the unique circumstances and operating conditions in the noncontiguous areas of the United States,” including Hawaii, Alaska, Puerto Rico, Guam and the U.S. Virgin Islands.
A Hawaiian Telcom executive said in a letter last month to the FCC that challenges include ocean channels, active volcanoes, gorges and steep mountain ranges.
Oahu home prices continue to climb
HONOLULU – The Honolulu Board of Realtors says the median price of previously owned homes on Oahu continues to increase.
The board reports single-family houses sold for a median of $675,000 last month.
That’s a 6.9 percent rise over the median price of $637,000 in September 2012.
Condominiums sold for a median price of $348,000. That’s an 8.9 percent increase over September 2012.
The highest monthly median price for Oahu single-family homes was $685,000 in June 2007.
The highest annual median price also was set in 2007 at $643,500.
For the first nine months of 2013, the single-family house median sale price has been $640,261.