Gyu-Kaku expanding on Oahu

Mililani Mauka will be the next Oahu neighborhood to land a Gyu-Kaku Japanese BBQ restaurant, with a Kapolei location also in the offing.

The 3,600-square-foot yakiniku restaurant in the Gateway at Mililani Mauka will seat 132 diners and employ 75 staff members when it opens in January, according to a news release.

Center tenants include Longs, Starbucks and Wingstop, while Taco Del Mar also plans to open there.

Gyu-Kaku will be the first tenant in its space, and it will be the second franchised Gyu-Kaku location for GK Hawaii Restaurants partners Rick Nakashima, Ted Davenport and Lyle Matsuoka, who opened the Windward Mall store in 2011. The store, managed by Sean Santiago, won an internal Gyu-Kaku award as restaurant of the year in 2014.

The partners’ next Gyu-Kaku is set to open in Kapolei later next year. The two other Gyu-Kaku restaurants, on Kapiolani Boulevard and in Waikiki, are company-owned and are among 30 Gyu-Kaku restaurants in Hawaii, eight other states and Canada.

Mortgage rates inch up amid global unease

WASHINGTON » Average long-term U.S. mortgage rates rose this week after a sharp drop the previous week, as global markets continued to whipsaw amid economic disruption in China and uncertainty over Federal Reserve interest-rate policy.

Mortgage giant Freddie Mac said Thursday that the average rate on a 30-year fixed-rate mortgage increased to 3.89 percent from 3.84 percent a week earlier. The rate on 15-year fixed-rate mortgages advanced to 3.09 percent from 3.06 percent.

The rates remain well below their levels of a year ago, when the 30-year loan rate was 4.10 percent and the 15-year rate was 3.24 percent.

Mortgage rates have been tracking the yield on the 10-year Treasury bond, as investors have fled turbulent stock markets in recent weeks for the safety of U.S. government bonds, and then markets have sharply recovered.

An increase in bond prices reduces their yields, and vice versa. The yield on the 10-year bond, which dipped below 2 percent early last week when stocks plunged on Wall Street, recovered to 2.19 percent Wednesday as the market rebounded. That was close to its level of 2.18 percent Aug. 26. The yield was at 2.17 percent Thursday morning.

Job gains may mean higher rates

WASHINGTON » With the Federal Reserve edging into the spotlight, Friday’s jobs report for August could trigger eventual changes in Americans’ financial lives.

That’s because a healthy job gain would provide one of the final pieces of evidence the Fed needs to start raising interest rates from record lows on Sept. 17, which many economists expect it to do.

It would also send a reassuring signal that global stock market turmoil and China’s slowdown have yet to seriously jar the U.S. economy.

End-of-summer driving inexpensive

NEW YORK » It has been more than a decade since U.S. drivers paid so little to fuel up for that last road trip of summer.

The national average price of gasoline this Labor Day weekend will be its lowest at this time of year since 2004, a result of low oil prices and a quiet hurricane season that has allowed refineries to churn out gasoline and diesel.

The national average price of gasoline fell to $2.44 Thursday, nearly $1 a gallon cheaper than last year. In Hawaii the average price for regular was $3.03 on Thursday, down from $4.27 a year ago, according to HawaiiGasPrices.com.

China’s trouble sends investors to U.S.

NEW YORK » China’s economic problems have been a windfall for some U.S. small businesses — and pose a threat to others.

A nearly 40 percent plunge in the Shanghai stock market since mid-June, a response to the country’s weakening economy, has sent Chinese investors looking for safer investments.

Some are focusing on U.S. real estate, including the condos Peggy Fucci’s real estate brokerage sells in Miami. She’s sold six condos to Chinese buyers in the past month, twice what she’s typically sold in that amount of time.

Samsung, others tout smartwatches

NEW YORK » Samsung and other tech companies showcased new computerized wristwatches this week — all aimed at challenging Apple, a relative newcomer to selling smartwatches.

The Apple Watch was the leading smartwatch in the second quarter, with an estimated 4 million shipped worldwide, for a market share of more than 75 percent, according to Strategy Analytics. Samsung was a distant second with 400,000 shipped and a 7.5 percent market share.

However, the market is still nascent, and the Apple Watch isn’t an option for people who use Android smartphones.

On The Move

» Honolulu Homeloans has hired Mike Sasse as a senior loan officer. He has been a loan officer for First Hawaiian Bank and PrimeLending, and mortgage banker at Quicken Loans in Scottsdale, Ariz.

» Hawaii Pacific Health has named Art Gladstone chief executive officer of Pali Momi Medical Center. He replaces Jen Chahanovich, who was recently named chief executive officer of Wilcox Memorial Hospital and Kauai Medical Clinic. Gladstone will also retain his position as chief executive officer of Straub Clinic & Hospital and also serves as chief nurse executive for Hawaii Pacific Health.

» ProService Hawaii has named Tim Kan vice president of sales and account management. He was previously vice president of global sales at Vancive Medical Technologies and has held executive positions at Baxter Healthcare Corp., St. Jude Medical and Zimmer Holdings Inc.

Ship Ahoy!

Today’s ship arrivals and departures: