30-year mortgage rate rises to 3.92 percent
WASHINGTON >> The average rate in the U.S. on the 30-year fixed mortgage hovered near historic lows this week, making home-buying and refinancing more attractive to those who can qualify.
Mortgage buyer Freddie Mac said Thursday that the U.S. rate on the 30-year loan increased to 3.92 percent. That’s up from 3.88 percent the previous week. The rate touched 3.87 percent four weeks ago, the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage rose to 3.16 percent, up from a record low of 3.13 percent last week.
Hawaiian Air leads in on-time arrivals
Hawaiian Airlines was the nation’s top-ranked carrier for on-time performance and fewest flight cancellations in January, according to a report from the U.S. Department of Transportation.
Hawaiian had an industry-best 93.1 percent of its flights arrive as scheduled in January. The average on-time performance for the 15 airlines surveyed by the DOT was 83.8 percent.
Hawaiian also led all airlines with zero cancellations out of 5,859 scheduled flights in January. On average, 1.5 percent of flights were canceled in January out of the 15 airlines surveyed.
Hawaiian ranked seventh overall for fewest misplaced bags during February, reporting 2.87 mishandled bags for every 1,000 passengers served.
Aqua to manage Ewa Hotel Waikiki
Aqua Hotels & Resorts will manage the 88-room Ewa Hotel Waikiki, developer and hotel owner Peter Savio has announced. Aqua will now manage three Savio-owned hotels, the others being the Pagoda and White Sands, also on Oahu.
Savio bought the Ewa Hotel on March 6 for an undisclosed price from Ewa International, a Hawaii-based Japanese owner.
Aqua manages 20 properties on Oahu, Maui, Kauai, Molokai and Lanai. Waikiki-based Aqua has been an employee-owned hotel company since executing an employee stock ownership plan in 2008.
Pflueger wins recognition from Honda
Pflueger Honda of Hawaii has won the American Honda Motor Co.’s President’s Award for 2011. The award went to only 144 of the more than 1,000 Honda dealerships in the United States. Pflueger was the only winning dealership in Hawaii.
The annual award, established in 1995, is presented to dealerships based on customer service and satisfaction, sales, training and facility operation. A major component of the program is customer satisfaction, measured in surveys.
"Earning the President’s Award is a yearlong commitment that requires the dedication of every dealership team member," said John Mendel, executive vice president of automobile sales for Honda.
Governor to discuss plans for Kakaako
ThinkTech Hawaii and the Hawaii Venture Capital Association will host a program on Kakaako’s future from 11:30 a.m. to 2 p.m. Thursday at the Plaza Club.
Gov. Neil Abercrombie will speak, along with Bruce Barrett of Castle & Cooke, Peter Apo of the Office of Hawaiian Affairs, Tony Ching of the Hawaii Community Development Authority, Mitch D’Olier of Kaneohe Ranch, Kathy Inouye of Kobayashi Group, Paul Quintiliani of Kamehameha Schools and others.
The fee is $39. Register at hvca.org or by calling Gail Caveney at 382-4638.
Sales surge expected for iPad 3 launch
NEW YORK » Let the wild rumpus start.
The customary storefront crowds are expected to gather as Apple’s latest iPad goes on sale today. Long lines are likely even though customers could have ordered the new tablet computer ahead of time for first-day home delivery.
The third version of Apple’s iPad will be available in the U.S. and nine other countries beginning at 8 a.m. local time. The new model comes with a faster processor and a much sharper screen. It also boasts an improved camera, similar to that of the latest iPhone.
For many customers, visiting a store in person — instead of having one shipped — offers them a chance to mingle with die-hard Apple fans.
On the Move
Hawaii Council of Engineering Societies has announced the following awards:
>> Larry K. Martin as 2012 Student Engineer of the Year. He is a graduate student pursuing a master’s in electrical engineering at UH-Manoa.
>> Lawrence S. Agena received the 2012 HCES Lifetime Achievement award. He was chairman of the board of directors of BCA Holding Co.
>> Ronald N.S. Ho as the 2012 Engineer of the Year. He served as president of Ronald N.S. Ho & Associates for 33 years.
The Harry & Jeanette Weinberg Foundation has awarded a grant of $25,000 to Waikiki Health Center. The award will support the agency’s medical services.
SMEI Honolulu will honor Vicky Cayetano as Salesperson of the Year 2011 during its 54th annual luncheon April 12 at Sheraton Waikiki. Cayetano is a former first lady of Hawaii, president and chief executive officer of United Laundry Services and managing director of United Laundry Kona.
