EIS filed for former Kam Drive-In site

The company proposing to build five towers on the site of the former Kamehameha Drive-In has filed its final environmental impact statement.

Los Angeles-based Robertson Properties Group plans to build up to 1,500 homes in five buildings ranging in height from 150 to 350 feet, with 143,000 square feet of commercial space and 80,000 square feet of office space.

The project, known as Live, Work, Play ‘Aiea, will take 13 years to complete and is expected to create approximately 980 jobs and generate $2.4 billion in total economic impact, including a direct capital investment of more than $767 million, the company said in a news release.

The EIS was submitted to the city Department of Planning and Permitting and the state Office of Environmental Quality Control. The Department of Planning will decide whether to accept the EIS after review. There is no period for public comment, the company said.

UH buys 3.2 acres from Molokai Ranch

The University of Hawaii said Thursday it bought 3.2 acres in Kaunakakai from Molokai Ranch to expand the UH Maui College Molokai Education Center.

The parcel is next to the UH center, which has about 250 students, according to a news release. The center offers certificate and associate’s degrees in seven majors.

"This purchase will eventually expand the college’s Molokai Education Center and strengthen our capacity to provide more higher-education and economic opportunities," said UH Maui College Chancellor Clyde Saka­moto.

"We couldn’t be more pleased to play a role in their expansion through this sale," said Clay Rumbaoa, CEO of Molokai Ranch.

Health insurance exchange gets $61.8M

The state’s controversial health insurance exchange, known as the Hawaii Health Connector, received a $61.8 million grant from the U.S. Department of Health and Human Services.

Hawaii Health Connector stirred controversy earlier this year when consumer advocacy groups opposed having officials from the health insurance industry serving on the exchange board.

The exchange is the first major piece of the federal health care reform law and is being established as an online marketplace where businesses and consumers can shop for health plans. The federal Affordable Care Act requires all states to set up health insurance exchanges, which will match uninsured individuals to subsidized health care plans. The grant allows the exchange to meet milestones including multicultural community outreach, language access, customer relations management, information technology training and operations.

Community outreach efforts are under way statewide to provide information about the online health insurance marketplace scheduled to launch in January 2014.

Contractors use copters for power towers

Contractors hired by Hawaiian Electric Co. are using helicopters to replace outdated transmission towers in the Koolau Mountains behind Manoa, St. Louis Heights and Palolo, the utility announced Thursday.

The towers carry power lines between Hono­lulu and the Windward side of the island. Crews will replace six aluminum towers with upgraded steel structures, according to HECO.

Helicopters are being employed because of the remote location of the work sites, the difficult terrain and a desire to minimize the impact to surrounding vegetation, HECO said. The work is slated to go on from 8 a.m. to 3:30 p.m. Mondays through Saturdays. The project already has started and is expected to be completed by the end of October.

Island Air takes first recapitalization step

Island Air said it has completed the first step of a corporate refinancing with Dublin, Ireland-based Kahala Aviation that will bring more capital into the interisland carrier and facilitate the Hawaii airline’s move to replace its Bombardier de Havilland Dash-8 airplanes with ATR aircraft. Island Air declined to provide details of the transaction.

Rate on 30-year mortgage increases to 3.66 percent

WASHINGTON >> Average U.S. rates on fixed mortgages have risen for a fourth straight week, remaining slightly above record lows. Cheap mortgages have helped fuel a modest housing recovery this year.

Mortgage buyer Freddie Mac says the rate on the 30-year loan increased to

3.66 percent, up from 3.62 percent last week. Four weeks ago the rate fell to 3.49 percent, the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage, a popular refinancing option, edged up to 2.89 percent. That’s up from 2.88 percent last week and from the record low of 2.8 percent four weeks ago. The availability of low rates has lifted home sales higher this year. Prices also have increased, largely because the supply of homes has shrunk while sales have risen. 

ON THE MOVE

The Rotary Club of Waikiki has elected its board of directors for 2012-2013: Mick Minicola, president; Janet Scheffer, president-elect; Mo Radke, immediate past president; Dave Hamil, treasurer; Susan Hughes, secretary; and Bob Tellander, sergeant-at-arms. Directors are Robby Ostrem, Ron Sauder, Flora Lu, Roy King, Steve Koyama, Nina Johansson, Glenn Perry, Peter Erhorn and Gene Gelfo.

The Island Insurance Foundation has donated $10,000 to YMCA of Hono­lulu for its SPLASH, (swim, play and learn aquatic safety habits) program. SPLASH teaches water and safety education as well as provides activities for third- and fourth-grade children at various schools on Oahu.

The American College of Healthcare Executives Senior-Level Healthcare Executive Regent’s Award was given to Jen H. Cha­hano­vich. Cha­hano­vich has been chief operating officer at Pali Momi Medical Center since 2004. 

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