A sign posted in Pizza Bob’s, a North Shore institution, says the restaurant’s last day of operation will be Aug. 28.

The restaurant was opened by surfer-turned- businessman Bob Lee in 1974, according to the restaurant’s website, that quotes Lee as saying, “It was a terrible time to open a new business.”

The recession was raging and people had to wait in line for gasoline, queuing up to do so early in the morning.

Over the years, Lee also owned Steamers restaurant on the North Shore, as well as Rosie’s Cantina and the Pizza Bob’s located in Hono- lulu, both in what then was called Restaurant Row.

In 2010 he won a bid for a lease to open an upscale restaurant on the second level of the old Fisherman’s Wharf restaurant, but later withdrew the bid when the building proved too costly to upgrade.