Latest finance & investment news and updates
A 66-year-old Honolulu woman has been sentenced to 18 months in federal prison and ordered to pay over $1.6 million in restitution for her involvement in a complex tax fraud scheme. The scheme involved the filing of false tax returns and the use of local businesses, banks, and trusts to launder the fraudulent refunds.
The Honolulu Authority for Rapid Transportation (HART) announced on Friday that its recent annual audit yielded positive results, offering a glimmer of good news for the agency overseeing the multi-billion dollar Skyline project. Despite ongoing legal battles and scrutiny, the audit's findings suggest sound financial management, potentially boosting investor confidence and easing concerns surrounding the project's future.
A 66-year-old Honolulu woman has been sentenced to 18 months in federal prison and ordered to pay over $1.6 million in restitution for her involvement in a sophisticated tax fraud scheme. The case underscores the serious consequences of financial crimes and highlights the importance of ethical business practices in Hawaii.
Trinity Investments, a Hawaii-based real estate investment firm, continues its global expansion with the purchase of The Hoxton, Poblenou in Barcelona. This marks Trinity's third European hotel acquisition since opening its London office, signaling aggressive growth in the hospitality sector.
The Hawaii Green Infrastructure Authority (HGIA) has been recognized by the U.S. Department of Energy as a Financial Ally Goal Achiever in the Better Buildings & Better Plants Initiative, highlighting its commitment to sustainable financing. This recognition underscores the state's dedication to clean energy and provides opportunities for local businesses and investors.
A recent letter to the editor suggests that Hawaii's reliance on state funding, as opposed to private contributions, is hindering the University of Hawaii's football program from attracting wealthy sponsors. This analysis, based on the letter and related news, explores the potential business implications of this funding model for the university and its stakeholders.
Senator Brian Schatz has introduced the Safeguarding American Families and Expanding Social Security Act, aiming to increase Social Security benefits for Hawaii residents by over $150 per month. This legislation could significantly impact the financial well-being of a large portion of the state's population and has implications for local businesses and the economy.
First Hawaiian Bank employees have once again demonstrated their commitment to the community, donating over $886,000 to 36 nonprofits in Hawaii, Guam, and Saipan through their annual giving campaign. This marks another year of significant contributions, reinforcing the bank's deep-rooted culture of philanthropy and community support.
First Hawaiian Bank (FHB) employees and retirees demonstrated their commitment to community support by donating nearly $900,000 to local charities across Hawaii, Guam, and Saipan through the Kōkua Mai campaign. The annual initiative highlights the bank's dedication to giving back and supporting various non-profit organizations.
Hawaii's first-time homebuyers with low to moderate incomes are getting a boost. A state program offering below-market mortgage loans has been relaunched, providing a much-needed financial break in a challenging real estate market.
A recent report highlights that Honolulu has the 15th highest healthcare costs in the United States, consuming a significant portion of the median monthly income, surpassing many other high-cost cities. This situation presents considerable financial hurdles for residents and raises concerns for businesses operating in Honolulu, influencing economic decisions and potentially impacting workforce dynamics.
The proposed partnership between Hawaii Pacific Health (HPH) and Hawaii Medical Service Association (HMSA) could reshape the state's healthcare landscape. While promising improved care and financial stability, the venture necessitates thorough scrutiny to ensure benefits for all stakeholders, particularly local businesses and residents.
A former teller at Bank of Hawaii has been charged with embezzling $44,000 from seven customer accounts, highlighting internal security concerns within the financial sector. The alleged scheme involved falsifying signatures on withdrawal slips and cashier's checks, underscoring the importance of robust internal controls.
Officials in Hawaii are warning of a rise in cryptocurrency ATM scams, particularly targeting seniors and potentially impacting local investors. These scams exploit the anonymity of crypto transactions, making it difficult to recover lost funds.
A former Bank of Hawaii teller has been charged with embezzling $44,000 from seven customer accounts, alongside allegations of falsifying signatures on financial documents. The case underscores the vital need for robust internal controls and due diligence within financial institutions to safeguard customer assets and maintain public trust.
Hawaii State Federal Credit Union (Hawaii State FCU) is stepping up to support Hawaii's nonprofits by donating $50,000 to the Hawaii Resilience Fund and the Safety Net Fund. This contribution is part of a larger statewide effort, reflecting the credit union's commitment to the community's well-being and stability during a period of financial constraint.
Bank of Hawaii employees and the Bank of Hawaii Foundation have demonstrated a strong commitment to Hawaii's community, raising over $623K in the past year for local non-profits and contributing a total of over $2.8 million to community initiatives in 2025. This commitment highlights Bank of Hawaii's dedication to supporting the local economy and well-being of its residents.
The Hawai'i Green Infrastructure Authority (HGIA) is injecting $18 million into Hawai'i's clean energy sector through its Green Energy Market Securitization (GEMS) program. This initiative, backed by a recent Public Utilities Commission order, aims to expand access to clean energy financing for underserved households, nonprofits, and small businesses, ultimately reducing their energy costs.
A new forecast from the University of Hawaii Economic Research Organization (UHERO) predicts a mild recession for Hawaii in 2026, citing declines in tourism and employment, alongside rising inflation. Despite the gloomy outlook, the construction industry remains a point of strength, offering a potential buffer against the economic downturn.
The U.S. dollar experienced a significant decline, reaching multi-month lows against major currencies following the Federal Reserve's more dovish stance. This shift in monetary policy has significant implications for Hawaii's economy, influencing import/export activities, investment strategies, and the overall financial landscape.