Castle Resorts & Hotels is expanding its Hawaii management portfolio with a Hawaii island property.
The company will assume management July 1 of the Kanaloa at Kona, which was formerly managed by Outrigger Hotels and Resorts.
"Kanaloa at Kona is a great addition for Castle Resorts & Hotels," said company President and Chief Operating Officer Alan Mattson. "It offers a spectacular oceanfront location overlooking Keauhou Bay, private condominiums and an outstanding selection of amenities that will appeal to families, couples and honeymooners looking for an authentic Hawaiian vacation."
Situated on 17 acres, the gated community offers furnished one- and two-bedroom condominiums with kitchens, separate living and dining areas, washers and dryers, lanais and high-speed wireless Internet. Kanaloa at Kona by Castle Resorts & Hotels will become the company’s sixth property on the Big Island and its 22nd property overall. Castle Resorts & Hotels, which was founded in 1993 and is a wholly owned subsidiary of The Castle Group Inc., manages a broad portfolio of properties on Oahu, Maui, Molokai, Kauai, Hawaii island and in New Zealand.
Home building dropped 11.1% in May
WASHINGTON » U.S. builders broke ground on fewer homes in May, but the pace of construction remains significantly higher than a year ago as the real estate sector increasingly reflects the stronger job market.
The Commerce Department said Tuesday that housing starts last month fell 11.1 percent to a seasonally adjusted annual rate of 1.04 million homes. Economists say that starts increased so sharply in April — surging 22 percent to an annual rate of 1.17 million — that a pullback was inevitable.
Toyota adds 1.4M vehicles to air bag recall
DETROIT » Toyota is adding nearly 1.4 million cars, trucks and SUVs to a growing recall for air bags that can explode with too much force.
The company says it’s expanding a previous recall after Takata Corp. of Japan agreed in May to double the size of its air bag inflator recall to 33.8 million.
Vehicles added to a passenger air bag inflator recall include the 2003 to 2007 Corolla and Matrix, 2005 and 2006 Tundra pickup, 2005 to 2007 Sequoia SUV and 2003 to 2007 Lexus SC430 convertible.
Ex-AIG CEO still wants damages in bailout
NEW YORK » The former chairman and CEO of insurer AIG says he still believes he’s entitled to damages as a result of the government’s 2008 bailout of the company, and will appeal a court’s ruling against him.
A federal judge gave Maurice Greenberg a partial win Monday when he ruled that the $85 billion government bailout was unfairly punitive and that the government was not entitled to take ownership of AIG in return for its bailout loan. But the judge said the government doesn’t have to pay damages to Greenberg and other AIG shareholders.
Nintendo charts return of ‘Zelda’ at E3
LOS ANGELES »Nintendo announced plans Tuesday during the Electronic Entertainment Expo for a multiplayer-focused installment of "The Legend of Zelda" on the Nintendo 3DS set to debut this fall. The Japanese games giant didn’t provide any more details about a previously teased open-world "Zelda" edition coming to the Wii U console next year.
Greek leader, top EU executive clash
ATHENS, Greece » Greece’s leader and a top EU official ignited a war of words Tuesday, a rare public spat that highlights how tense the talks have become over how to save the country from financial disaster.
Prime Minister Alexis Tsipras told lawmakers from his Syriza party that creditors were demanding pension cuts and tax hikes on medicine and electricity bills.
ON THE MOVE
PacificBasin Communications has appointed Christine Hitt as editor of HAWAI‘I Magazine. She has extensive editorial background, including writing and editing, investigative reporting, managing online publications and social media. Hitt joined PacificBasin Communications as a digital media manager in 2007 for HONOLULU Magazine, where she stayed for six years. Earlier this year Hitt returned to the company as editor of MANA Magazine and later accepted the appointment of editor of HAWAI‘I Magazine.
Hawaii Life Real Estate Brokers has promoted Caron Ling to broker-in-charge for Oahu. Her experience includes working in sales for more than 10 years on Oahu. Ling’s recent awards include being in the "Top 100 Realtors" chosen by Hawaii Business Magazine in 2014.
