Business Briefs

Construction begins for Cove Waikiki

It took a year longer than previously expected, but construction is finally moving ahead on a low-rise residential condominium complex with 117 units alongside The Windsor Waikiki condo tower that was once the Ohana Hobron Hotel.

The developer of The Cove Waikiki held a groundbreaking ceremony last week to kick off construction of the project, which comprises one- and two-bedroom units in three five-story buildings on a 1.6-acre site on Kaioo Drive at the Ewa end of Waikiki.

Project developer Waikiki Palm LP announced in November 2011 that construction was scheduled to begin in March 2012, but lower-than-anticipated pre-sales along with permitting requirements prevented work from starting, according to a project representative.

The developer said Cove Waikiki is sold out. Completion is slated for mid-2014.

Kamehameha Schools affiliate selling land

An affiliate of Kamehameha Schools has retained a broker to sell about 25 acres zoned for residential development as well as time-shares at Keauhou Resort on Hawaii island. Kamehameha Investment Corp. retained Kennedy Wilson to market the site, the brokerage firm said Wednesday.

The local affiliate of California-based Kennedy Wilson, KW Hawaii Inc., said the seller is seeking a developer with a vision for the site that enhances the Keauhou community.

The site is largely between Keauhou Shopping Center and a golf course.

Kamehameha Schools owns about 2,400 acres in and around Keauhou. The trust leased or sold land in the area for resort development that dates back to the 1960s, but still owns undeveloped and developed sites, including the shopping center. Last year, the trust announced it would close and demolish the Keauhou Beach Hotel because of financial losses and capital improvement needs.

Hawaiian Telcom adds EPIX TV network

The EPIX entertainment network and online service has been added to Hawaiian Telcom’s TV service on Oahu. The offering includes EPIX on TV, EpixHD.com and EPIX apps.

The entertainment network’s programs are shown on Channel 381 and, for the high-definition service, on Channel 1381. Movies include theatrical releases such as "The Hunger Games" and "The Avengers," while original programming includes sporting events, comedy specials and concerts. EpixHD.com and EPIX apps make viewing available on a computer screen or mobile device.

Isle man accused in investment scheme

Colburn Kuwata, a onetime independent insurance agent and former financial services agent in Hawaii, is being accused by the state of misappropriating $60,000 from a 70-year-old man in an investment scheme.

The state Department of Commerce and Consumer Affairs has issued a preliminary order seeking restitution and a $300,000 penalty for Kuwata, who the agency said was barred in 2000 from securities transactions and fired in 2001 from Sunset Financial Services Inc.

The agency alleges that Kuwata obtained $60,000 from a local resident by promoting an investment said to be risk-free, insured and yielding a 20 percent return. Instead, Kuwata spent most of the money on a mortgage payment and other personal expenses, the agency said.

Kuwata is entitled to a hearing on the matter.

Anyone who has had dealings with Kuwata pertaining to investment offers is urged to contact the DCCA’s Securities Enforcement Branch at seb@dcca.hawaii.gov via email or by phone on Oahu at 586-2740 followed by 62740#.

The branch also can be reached at 274-3141 on Kauai, 984-2400 on Maui, 974-4000 on Hawaii island and 800-468-4644 on Molokai and Lanai, followed by the same 62740# extension.

ON THE MOVE

Armstrong Builders has promoted Adam Durante to project manager from project engineer. He joined the company in 2006 and is a certified Green Professional with National Association of Home Builders.

Nella Media Group has appointed Keely Bruns to vice president of marketing and advertising. She was previously a sales and marketing executive for KHNL-Hawaii News and Cox Media Group Hawaii.

University Health Alliance Health Insurance will present $100,000 to the Kapiolani Pediatric Bone Marrow Transplant Program on Friday. The funds will provide for a new stem cell collection machine and related staffing and training.

Hawaiian Electric Co. has contributed more than $118,000 to support science, engineering, technology and mathematics programs in Hawaii. The company also contributed $57,000 to support services and educational programs provided by the Boys and Girls Club (West Oahu and Windward clubhouses), Kapolei Foundation, Malama Learning Center, Performing Arts Center of Kapolei, Makaha Cultural Learning Center, Hawaii Council of Teachers of Mathematics, Makaha Elementary School and Hawaii Hotel & Lodging Association Citizenship Awards Scholarship Program.