Latest finance & investment news and updates
Atlas Insurance Agency has welcomed Jill Yamada-Murota as Senior Account Manager for Commercial Lines Operations. With nearly three decades of experience, Yamada-Murota brings significant expertise to the agency, enhancing its ability to serve clients in Hawaii's dynamic business environment.
A 55-year-old Maui man is facing federal criminal charges for allegedly defrauding cryptocurrency investors out of over $1 million. The scheme, which spanned several years, highlights the growing vulnerability of digital assets to fraud and its impacts on Hawaii's financial landscape.
A 50-year-old man, already wanted in multiple states, has been indicted by a federal grand jury in Hawaii for allegedly orchestrating a fraudulent scheme involving over $450,000 in COVID-19 relief funds and securing fraudulent loans using the identities of elderly individuals. This case highlights ongoing efforts to combat fraud related to pandemic relief programs and the vulnerability of financial systems.
Bank of Hawaiʻi has launched emergency financial assistance programs to aid federal employees and contractors impacted by the ongoing government shutdown. This initiative offers crucial financial relief to those facing income disruption, highlighting the bank's commitment to supporting the local community during times of economic uncertainty.
Accuity LLP, a leading CPA firm in Hawaii, has appointed Denise Shigeta as its new Tax Director. This strategic hire brings extensive experience in estate and trust compliance and audits, bolstering the firm's capacity to serve local businesses and high-net-worth individuals.
Hawaii's credit unions are demonstrating resilience, with asset growth reported in the latest National Credit Union Administration (NCUA) data. However, rising delinquency rates signal potential challenges in the coming year, which could impact local businesses and investors.
Concerns surrounding regional banks, particularly after reported losses at Zions, have triggered a downturn on Wall Street, coinciding with ongoing anxieties over U.S.-China trade relations. This financial instability has significant implications for investors and businesses in Hawaii, urging a closer look at market diversification and risk management.
While artificial intelligence promises to revolutionize personal finance, experts caution that its application for DIY investors may be limited. This article explores the potential and pitfalls of using AI in investment decisions, specifically emphasizing the need for caution and human oversight.
Federal Reserve Chair Jerome Powell has indicated the possibility of further interest rate cuts, aiming to bolster the labor market despite recent inflationary pressures. This could have significant implications for businesses across Hawaii, potentially impacting borrowing costs and investment strategies.
The recent announcement by DTRIC Insurance Co. to withdraw from the Hawaiian market due to escalating costs raises concerns about the stability of the insurance landscape, potentially signaling wider disruptions ahead for businesses and residents. This move necessitates a closer examination of the factors contributing to rising premiums and the potential impact on various sectors across the islands.
The integration of Artificial Intelligence (AI) in personal finance is rapidly evolving, yet experts caution that its benefits for the do-it-yourself (DIY) investor may be limited. This article explores the potential of AI-driven robo-advisors, examines their limitations, and provides context for Hawaii's financial professionals and investors.
The ongoing federal government shutdown is causing significant financial hardship for military families in Hawaii, impacting the local economy and creating uncertainty for businesses that serve them. With potential missed paychecks and reduced benefits, families are facing tough choices, adding to the stress of military life.
The financial landscape in Hawaii continues to evolve, with rising salaries and market fluctuations impacting income thresholds. A recent study reveals the income needed to be among the top 1% of earners in the state, offering crucial insights for investors, entrepreneurs, and professionals.
In response to the ongoing federal government shutdown, several Hawaii banks are implementing financial assistance programs to support federal employees, contractors, and their families facing economic hardship. These initiatives offer a range of solutions, including loan modifications and payment deferrals, to help individuals navigate this period of uncertainty.
Hawai'i Community Lending (HCL) is stepping up to offer temporary forbearance to federal employees in Hawaii facing financial strain due to the ongoing government shutdown, ensuring they can maintain housing stability during this challenging period. This initiative provides crucial support to local families affected by the shutdown's ripple effects.
DTRIC Insurance, a provider of home and auto insurance in Hawaii, is withdrawing from the state's market and transitioning to a run-off insurance carrier. This move, announced by the Hawaii Department of Commerce and Consumer Affairs, will see the company cease issuing new policies while continuing to manage existing ones, creating potential disruption for policyholders and opportunities for competitors.
DTRIC Insurance Company Limited is withdrawing from the Hawaiʻi insurance market, a move that will no longer provide new or renewed policies. Businesses and residents currently insured by DTRIC will need to explore alternative coverage options, impacting Hawaiʻi's business landscape and necessitating proactive insurance management.
Hawaii's state budget is significantly less reliant on federal funding compared to other states, which has implications for state spending, business investments, and the overall economic climate. This financial independence offers both opportunities and challenges for entrepreneurs and investors.
DTRIC Insurance, a local insurance provider and subsidiary of MS&AD Insurance Group, will be exiting the Hawaiian market, potentially impacting policyholders and the competitive landscape for insurance in the state. This decision reflects broader trends within the insurance industry and raises questions about future coverage options for Hawaii businesses and residents.