Honolulu realty rated ninth priciest
Honolulu is the ninth most expensive real estate market in the country with an average listing price of $1.03 million, according to a report yesterday by Coldwell Banker.
The report looked at more than 18,000 four-bedroom, two-bath properties listed on ColdwellBanker.com between February and August in the nearly 300 markets where the real estate firm has a presence.
Newport Beach, Calif. ($1.83 million), Palo Alto, Calif. ($1.48 million), and Rye, N.Y. ($1.33 million), occupied the top three spots.
The report didn’t indicate whether those homes eventually sold or, if they did, at what price.
The Honolulu Board of Realtors, which reports monthly numbers, typically focuses on the median price of houses sold. In August, the Oahu median sales price — half of the homes sold above that price and half below — was $645,239.
Territorial to repurchase 6% of stock
Territorial Bancorp Inc., the holding company parent of Territorial Savings Bank, said today it will repurchase up to 6 percent of its stock, or 733,988 shares, to boost the value of the remaining shares.
Allan Kitagawa, CEO of the company, said, "We are pleased to announce our first stock repurchase plan. We understand that stock repurchase programs can be an effective capital management tool and, under the right circumstances, can enhance stockholder value."
Hearing to address Kyo-ya expansion
The city Department of Planning and Permitting will hold a public hearing today on Kyo-ya Hotels & Resorts’ plan to build a new 26-story hotel and residential tower at the site of the Diamond Wing of the Moana Surfrider hotel.
The hearing is on whether to permit Kyo-ya to build the tower closer to the beach than the law allows. Waikiki Special District guidelines call for new buildings to be 100 feet from the certified shoreline.
The hearing starts at 1:30 p.m. in room 205, the City Council committee meeting room, at Honolulu Hale. The Kyo-ya case is the fourth and last item on the agenda.
Kaiser ranks higher than HMSA
Kaiser Permanente Hawaii received the highest rating for a Hawaii company for quality prevention and treatment and member satisfaction from the National Committee for Quality Assurance.
Kaiser, the state’s largest health maintenance organization, ranked 47th nationally, while the Hawaii Medical Service Association, the state’s largest health insurer, ranked 108th.
The NCQA ranked 227 private health plans nationwide.
Star-Advertiser staff and news services
ON THE MOVE
Whole Foods Market has hired Lindsay Mucha as its store team leader for the Kahala store. She will be responsible for overseeing the store’s daily operations, customer service and purchasing.
Diane R. Peterson has been named the new regional manager of AAA Hawaii. She was previously a manager with the Arcadia branch of Automobile Club of Southern California.
Raymond Baker, a Lyon Arboretum staff member for 38 years, has donated $50,000 to establish the Raymond F. Baker Fund for the Grounds and Living Collections at the Harold L. Lyon Arboretum at the University of Hawaii at Manoa. The funds will be used to support activities that directly affect the grounds and living collections of the arboretum.
Hawaii’s Better Business Bureau has announced its 2010-2011 board of directors and officers: Susan Ing, chair; Nancy Daniels, first vice chair; Thomas W. Dixon, second vice chair; Phil Sammer, secretary; and Dwayne Takeno. treasurer. New board members: Craig Hamamoto and Stan Masamitsu.