The owners of Champion Malasadas bakery in Moiliili are looking for a buyer for their business.
Joc and Sandra Miw are willing to lease the space and sell their secret recipe for the malasadas, the bakery’s name and the equipment to continue the bakery, said real estate agent Jim Mao.
The bakery occupies roughly 1,200 square feet of first-floor space and also could come with the second-story office/residential space of 1,100 square feet, Mao said.
The couple is nearing retirement, and their two children don’t want to take over the bakery, he said.
Joc Miw, who came to Hawaii as a Chinese immigrant, began the bakery business in the mid-1980s and built the bakery at its location at 1926 S. Beretania St.
His malasadas has been featured in publications and TV shows around the world. Many reviews on Yelp give it four to five stars.
Its only rival in malasadas seems to be Leonard’s Bakery on Kapahulu Avenue.
The land and building have a net taxable value of $1,588,600, including the building at $338,600, according to the Honolulu property tax office.
The property was purchased in 1997 for $500,000.
ON THE MOVE
Bank of Hawaii has announced the following promotion and new hire:
>> Robert “Bob” Gardiner to senior vice president of its Dealer Commercial Services department from vice president; he will continue to serve as dealer commercial banking center manager. He joined the bank in 2005.
>> Wayne J. Anderson as executive vice president and credit review manager of its Credit Review Department. He previously served as senior vice president and credit review manager for the bank from 2008 to 2009, and was previously a managing director for the Credit Review Department of MUFG Union Bank in San Francisco from 2009 to 2016, prior to rejoining Bank of Hawaii.
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