Central Pacific Bank is exploring the relocation of its Kailua branch to the former Arby’s site less than a mile away.
The bank has signed a short-term lease to be able to conduct due diligence at the location. Central Pacific must first go through a regulatory public comment period, then conduct and provide an impact study of the property for approval from the State Historic Preservation Division. It then needs to obtain regulatory approvals from the Federal Deposit Insurance Corp. and the Hawaii Division of Financial Institutions, and then building permits before starting construction.
Central Pacific said Friday that the projected opening, barring no delays, is the fourth quarter of 2014.
"We will most likely construct a new building or undertake major renovations," Central Pacific spokesman Wayne Kirihara said. "Primarily, we wanted to provide better parking (than the current Kailua branch site), and we’re looking for a more accessible, convenient location."
Kirihara said the new branch at 6 Hoolai St. likely would be about 3,400 square feet. The current Central Pacific branch at 419 Kuulei Road is 3,200 square feet.
Central Pacific, the state’s fourth-largest bank with $4.4 billion in assets, closed its Keeaumoku branch Friday and has relocated it to the former KGMB-TV building site at 1538 Kapiolani Blvd., across the street from Nordstrom. A soft opening for the new 3,742-square-foot branch is set for Monday with a grand opening to follow April 20. The branch will offer the same services but is smaller than the 5,453-square-foot branch at 818 Keeaumoku St.
Building owner Hawaii Medical Service Association did not renew the bank’s lease at the Keeaumoku site. HMSA said it will use the vacant bank space for its own operations.
Central Pacific said previously it plans to open a new branch — its 35th — next month at the new Laulani Village Shopping Center at the corner of Fort Weaver Road and Keaunui Drive in Ewa Beach. There is no opening date set yet for the 2,400-square-foot branch, which will be the bank’s first in Ewa Beach.
Kirihara said a soft opening is being targeted for mid-April, and a grand opening in May.
