Local real estate brokerage and management firm Hawaii Life has acquired Kailua-based Home Shoppe Hawaii LLC, a boutique brokerage firm owned and operated by Yvonne Ahearn.
Home Shoppe Hawaii has been in operation since 2010, predominantly servicing clients on the Windward side of Oahu. This latest addition is the third significant acquisition this year by Hawaii Life, which was founded in 2008 on Kauai. The company’s growth has included the acquisition of luxury brokerage firms CHOI International in Honolulu and Mauna Kea Realty on Hawaii island.
Hawaii Life, which had more than $1 billion in sales last year, has 16 offices and had nearly 300 agents before the acquisition.
Ahearn will continue to lead and expand the team of Realtors formerly of Home Shoppe Hawaii, whose listings, clients and properties under management became represented by Hawaii Life on June 1.
30-year mortgage rate falls to 4.54%
WASHINGTON >> Long-term U.S. mortgage rates fell this week for the second straight week, providing a helpful jolt for potential homebuyers.
Last week’s decline followed weeks of increases that pushed long-term loan rates to their highest levels in seven years. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.54 percent, down from 4.56 percent last week. The average benchmark rate has been running at its highest levels since 2011. By contrast, the 30-year rate averaged 3.89 percent a year ago.
The average rate on 15-year, fixed-rate loans dipped to 4.01 percent from 4.06 percent last week.
Japan’s economy shrank in first quarter
TOKYO >> The Japanese government says the economy declined in the first quarter, sticking to its preliminary data that reflected weak consumer spending.
The Cabinet Office said today the gross domestic product — the total value of a nation’s goods and services — shrank at an annualized rate of 0.6 percent in the January-March period.
That revision is unchanged from the preliminary reading released in May.
Domestic demand declined in the quarter, including consumer spending and residential investment.
The January-March quarter ended the longest straight period of expansion for Japan since the late 1980s, lasting about two years.
ON THE MOVE
Primary Residential Mortgage has announced that Marche Kawai, a veteran sales and marketing professional, is now a loan officer for the mortgage company. She previously worked in television and communications as well as with another mortgage lender. As a loan officer, Kawai’s responsibilities include originating residential home loans.
The Queen’s Medical Center has honored and presented Jane Koshiba with the Hoomau Award, which recognizes volunteers’ longevity of service. She received a monetary award as well as a trophy, and her name was added to a perpetual plaque. Besides volunteering and assisting patients, staff and visitors at the Surgery Waiting Room and Information Desk, Koshiba, 77, is a retired teacher.
Pearlridge Center has named Diana Su-Niimi as the new marketing director of the largest enclosed shopping center in Hawaii. Her responsibilities include overseeing special events, advertising, public relations, promotions and sponsorships for the 1.3 million-square-foot center. Su-Niimi has 15 years of marketing and communications experience and previously served as chief of marketing and publicity for the U.S. Air Force in Tokyo.
