Latest finance & investment news and updates
Bank of Hawaii is investing in its physical infrastructure by renovating five Neighbor Island branches, demonstrating a commitment to in-person services alongside digital banking. This strategic move could boost local economic activity and provide better access to financial resources for Hawaii's businesses.
A recent analysis reveals the top multifamily mortgage lenders in Hawaii, offering crucial insights for real estate investors and developers. The report, compiled by Pacific Business News using data from the Federal Financial Institutions Examination Council, highlights the key financial institutions driving multifamily property acquisitions and development in the state.
Pacific Business News has compiled a list of the 50 largest residential mortgage lenders in Hawaii, offering key insights for real estate investors and industry professionals by analyzing data on purchase loans for residential properties. This article provides context for the analysis and explains its significance within the local financial landscape.
Hawaiʻi State Federal Credit Union (HSFCU) has donated $37,500 to support affordable housing and family homelessness services in Hawaii, highlighting the credit union's dedication to community well-being and financial stability. This contribution highlights HSFCU's commitment to supporting local communities and improving the financial health of Hawaii's residents.
One Rock Capital Partners is selling its majority stake in Island Energy Services to a joint venture between First Reserve and Fortress Investment Group. This deal highlights a shift in Hawaii's energy sector, impacting businesses dependent on fuel supply and potentially creating new investment opportunities.
Hawaii's Fairmont Orchid resort has secured a $136 million refinancing deal, a strategic move by owner Mirae Asset Global Investments amidst ongoing renovations, demonstrating confidence in the island's thriving tourism sector and its appeal to investors.
Central Pacific Bank is promoting its private banking services with a focus on building relationships with clients which highlights the bank's commitment to wealth management and creating financial solutions for their clients. This approach is beneficial for entrepreneurs and professionals in Hawaii who are seeking a partner to help manage their financial lives.
Consumer confidence in Hawaii has significantly declined, potentially impacting tourism, investment, and overall economic growth. Businesses and investors must adapt to anticipated changes in consumer behavior.
The U.S. dollar's decline, fueled by concerns over potential tariffs, presents both challenges and opportunities for Hawaii's economy, impacting investment decisions and the competitiveness of local businesses.
Hawaii's tax lien landscape is evolving, and understanding the legal and financial implications of tax obligations is crucial for business owners and investors. The introduction of statutes of limitations provides opportunities, but the need for diligent financial planning remains vital.
With hurricane season underway, Hawaii business owners should review their insurance policies to ensure adequate coverage against potential storm damage. Expert advice highlights the importance of separate hurricane insurance and the need to understand policy specifics to protect investments and ensure business continuity.
Hawaii secured a $700 million settlement from pharmaceutical companies, a move that's set to benefit its financial standing and create business opportunities. The funds will boost public health programs. This positive development could attract investors and boost the local economy.
A Honolulu woman has pleaded guilty to a $1.6 million tax fraud scheme involving false returns and the use of Hawaiian businesses to launder funds. This case highlights the risks of financial crimes for businesses and investors, underscoring the need for increased vigilance and adherence to financial regulations within Hawaii.
Kaua'i Island Utility Cooperative (KIUC) has appointed an interim CFO to oversee its financial operations, reflecting the importance of financial leadership, especially as the cooperative focuses on transitioning to renewable energy. These developments are crucial for Hawaii's entrepreneurs, investors, and professionals because of the importance of energy in their business.
Hawaii is experiencing a concerning rise in mortgage delinquencies, potentially impacting the real estate market, investment returns, and local businesses. Investors, developers, and business owners should take note of the emerging risks.
Hawaii's high medical malpractice claim rate, 71% above the national average, has significant implications for healthcare businesses and investors. This situation necessitates a thorough assessment of risks, potentially increasing insurance costs and legal challenges.
The legal process of subrogation following the Maui wildfires is creating significant implications for Hawaii's businesses, investors, and the insurance industry. These complex issues, including delays in settlements and disputes over financial liability, highlight the need for clear understanding and proactive management of the financial risks.
Changes to the Employee Retention Credit (ERC) could leave numerous Hawaii small businesses without tax refunds. The IRS is working to address outstanding claims, but new deadlines and increased scrutiny of the program mean that businesses must take proactive steps.
Barnwell Industries, with operations relevant to Hawaii, is undergoing a proxy battle that could change its board. The company said removing its Executive Chairman could be a possible outcome, and investors should take notice.
Hawaii's high per capita tax burden, ranking fourth highest in the nation, presents significant challenges and influences the financial landscape for businesses and residents throughout the state.