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Business/In Brief • May 7, 2014

Matson's profit falls in first quarterHONOLULU - Shipping and logistics company Matson Inc. said Tuesday that it earned $3.4 million during the first quarter, far below its profit of $9.1 million a year earlier because of the timing of fuel surcharge collections.Matson CEO Matt Cox said demand in Hawaii and elsewhere is staying strong even though the surcharges significantly hurt the company's results for the quarter."Our businesses are running well and continue to generate substantial cash flow," Cox said in a statement.Revenue dropped less than 1 percent to $392.5 million.The earnings ...

Business/In Brief • May 6, 2014

Oahu growth outpacing housing supplyHONOLULU - Oahu's population is growing much faster than its housing supply.To catch up with demand, developers would have to build about 2,000 more homes each year than they do now, Eugene Tian, a Hawaii economist, told the Honolulu Star-Advertiser.His calculations assume 1 percent population growth on the island and 2.8 people per household. Whereas Tian figures Oahu would need about 3,525 homes a year to match demand, the island issued an average of 1,612 new permits a year from 2011 to 2013.

Chamber events mark business week

National Small Business Week recognizes the critical contributions of America's entrepreneurs and small-business owners, recognizing that more than half of Americans either own or work for a small business. They create about two out of every three new jobs in the U.S. each year, drive innovation and increase American's competitiveness, according to the U.S. Small Business Administration.The SBA has been highlighting the impact of outstanding entrepreneurs, small-business owners and others from across the nation who support and assist small businesses through National Small Business Week ...

Most isle enrollees did so without getting aid

HONOLULU - Most people who bought plans through Hawaii's insurance exchange did so without financial assistance, federal enrollment numbers released Thursday said.Sixty-two percent of the 8,592 people who bought plans as of March 31 didn't get aid, data released by the U.S. Department of Health and Human Services showed. That leaves 38 percent who got help buying a plan.The numbers run counter to national enrollment figures, for states participating in the federally run exchange as well as for states like Hawaii that operated their own exchanges. Nationally, 85 percent of people who ...

FABMAC Homes opens model

Maui's FABMAC Homes recently opened its latest model home at 221 South Wakea Ave. in Kahului.The home features a completely off-grid electrical system from Hawaii Power & Light, which is based on Maui. The system can supply 100 percent of the home's power needs every day, a news release said.FABMAC homes are built off-site and can take about six to eight weeks from the date of order to delivery on-site. Also, it can take a few days for the utilities, carpet and roof ridges to be installed when the material is at the site, its website said.If the site improvements are ready when the ...

Addition proposed for Waikiki hotel

HONOLULU (AP) - The Outrigger Reef on the Beach in Waikiki would gain a 350-foot hotel tower and meeting space under a proposal by Outrigger Enterprises Group, which wants the project to be the fifth new tower of its size planned for Waikiki.Preliminary plans call for construction of a 31- or 32-story, 200-room tower nearthe Outrigger Reef, the Honolulu Star-Advertiser reported Wednesday.Preliminary renderings have been submitted to the Department of Planning and Zoning, according to Outrigger President and CEO David Carey. The approval process would include an environmental ...