Target Corp. opened its fourth Hawaii store yesterday in Hilo.

The 154,000-square-foot store is the second on Hawaii island for the Minneapolis-based retail giant, which opened a store in Kona in July 2009.

Target plans to open its fifth store in Kailua on Oahu in July 2012.

The Hilo store has nearly 350 employees and offers an expanded array of fresh foods. A grand opening celebration will be held Sunday.

"We are thrilled to bring a new Target store to Hilo residents — one that features fresh food and the latest enhancements to some of our most popular areas, such as beauty, shoes, electronics, home and baby," said Scott Hayes, Target’s Hilo store team leader.

The store, which serves nearby Hawaiian Homestead residents and the broader Hilo community, will be a boon to the rural area, said Alapaki Nahale-a, Hawaiian Homes Commission chairman and DHHL director.

Target leases the land for the Hilo store from DHHL.

"This first Target in Hilo will provide an economic boost for East Hawaii in terms of new jobs, and generate revenue to help finance homesteading opportunities for Native Hawaiian beneficiaries for years to come," he said.

Target typically invests millions of dollars in each new store site, said spokeswoman Sarah Bakken.