Fergus buys part of MLP cannery
Fergus & Co., a Honolulu-based real estate investment company, has completed the acquisition of 12.8 acres of property at Maui Land & Pineapple Co.’s Kahului cannery complex. The property historically served as the warehousing and processing hub for Maui Land & Pineapple’s operations and contains roughly 255,000 square feet of high-cube warehouse space.
“We are excited to revitalize this well-located property,” said Alex Fergus, principal at Fergus & Co. Fergus said his company plans to do adaptive reuse upgrades including new utilities, loading docks and metal siding. When renovations are complete, the property will have approximately 155,000 square feet of quality high-cube free-span warehouse and abundant parking. Fergus added that his company is currently looking for warehousing tenants 5,000 square feet and larger and that interested parties should contact him at 739-5501.
In December, Fergus & Co. acquired two smaller parcels of the subdivided cannery complex. The company’s other Kahului assets include Dairy Center, a 90,000-square-foot retail center on Dairy Road in Kahului, and a 7-acre mixed-use business park on Dairy Road across from Maui Marketplace.
Hoku is dropped from Russell 3000
Honolulu-based Hoku Corp., a polysilicon supplier and installer of photovoltaic panels, has been removed from the Russell 3000 index after falling below certain capital thresholds. The move was effective Friday. Hoku’s shares were unchanged Tuesday at $1.70 on the Nasdaq Stock Market. Central Pacific Financial Corp., which was added to the index, saw its shares jump 5 percent Tuesday to $13.88.
Hawaiian Air sees higher revenue
Hawaiian Airlines’ parent company said in a regulatory filing Tuesday that it expects its passenger revenue per available seat mile, or one paying passenger transported one mile, to be up 3 percent to 6 percent in the quarter that ends Thursday and its available seat miles, or one seat transported one mile, to be up 20 percent to 22 percent. In the year-earlier quarter, Hawaiian’s passenger revenue per available seat mile was 11.28 cents, and its available seat miles were 2.5 million. In addition, Hawaiian said its cost per available seat mile, excluding fuel, will be flat to up 3 percent this quarter from 8.66 cents a year ago.
The airline said it expects its average fuel cost per gallon based on generally accepted accounting principles to be between $3.30 and $3.35 this quarter and that it expects its fuel consumption to increase 18 percent to 19 percent year over year in the quarter as a result of its increases in seating capacity.
Oahu man is fined for tax evasion
An Oahu man and his business have been sentenced to probation and fined a total of $20,000 for failing to file general excise and corporate tax returns for five years. They have already paid more than $120,000 in restitution to the state.
The state Department of Taxation said Monday that Brian Wada and his company, Kamaaina’s Food Service Inc., pleaded guilty to 10 counts of failing to file tax returns from 2003 through 2007.
State District Judge Leslie A. Hayashi sentenced Wada and Kamaaina’s Food Service each to one year of probation for each count Thursday. The sentences are due to run concurrently. Wada and his company were also ordered to make sure they are up to date with all of their state tax liabilities.
Today’s ship arrivals and departures:
ON THE MOVE
Kelly Sanders, general manager of Sheraton Waikiki, has named Brian Hunnings director of food and beverage at Sheraton Waikiki as well as area director of food and beverage at Starwood Hotels & Resorts Waikiki. Hunnings was previously director of food and beverage at Moana Surfrider, A Westin Resort & Spa, and food and beverage director at Hotel Hana-Maui.
Hawaii Dialogix Telecom has named Talia Breyman as customer service representative. She has more than 10 years of sales and management experience in Oregon, including as cashier at Bi-Mart and Victoria’s Secret, guest service representative for Target and manager at Pizza Hut.
Sheraton Kauai Resort and Westin Princeville Ocean Resort Villas have named Melissa Howard as public relations manager. She has been a sales executive with Starwood Vacation Ownership at Westin Princeville Ocean Resort Villas, marketing and public relations director for Hawaii Stream Villas as well as senior sales executive, team leader and senior marketing manager for Marriott Vacation Club International.