Maui Business

Independent investors have acquired non-controlling interests in American Savings Bank in separate transactions from Hawaiian Electric Industries Inc., the bank announced today. Among other things, HEI said the sale will give it flexibility in making its Maui wildfire settlement contributions.

Despite steady local forecast path so far, Hawaiʻi’s economic outlook becomes unclear as federal policy changes loom with incoming Trump Administration introducing broad uncertainty.

The Ho‘ōla iā Mauiakama Long Term Recovery Group, a nonprofit organization dedicated to supporting Maui’s recovery and rebuilding efforts following the August 2023 wildfires, announced the appointment of Rhonda Alexander-Monkres as its new Executive Director.

Christopher L. Dods has resigned, effective March 31, as vice chairman and chief operating officer of First Hawaiian Inc. and First Hawaiian Bank, according to an announcement.

The Maui Hotel & Lodging Association’s new executive team is Executive Director John Pele, Deputy Executive Director Naomi Cooper and Manager of Events & Membership Angela Doran.

Hawaiʻi Community Lending announced that HPM Building Supply and American Savings Bank will sponsor the nonprofit’s annual Hui Waiwai on Jan. 23, 2025, at Bishop Museum from 5 to 8 p.m.

The Hawai‘i Department of Taxation has updated its income tax withholding tables to reflect upcoming changes in a new state law that makes incremental adjustments to the standard deduction amount and income tax brackets beginning tax year 2024, through tax year 2031.

Guam native Sean Perez has taken the reins as new finance director at Hawai‘i Community Lending.

Applications for the Hawaii State Federal Credit Union 2025 student scholarship applications are open through Feb. 28, according to an announcement.

Wailuku’s Empower Fitness Maui was recently awarded a small-business grant from the Human Rights Campaign, which supports LGBTQ+ business owners and strives to eliminate barriers to economic success and LGBTQ+ equality.

Hawai‘i Community Lending has new members of its board of directors. They are Kawena Beaupré, Jaclyn Kaina and Alapaki Nahale‘a. Returning board members are Billy Pieper (president) and Felicity “Kui” Meyer (treasurer).

Maui’s labor market is generally improving, although the county’s post wildfire disaster labor force and employed people have been declining, Chief State Economist Eugene Tian said Wednesday. In November, Maui County’s not seasonally adjusted unemployment rate was 3.8%, down from 6.8% in November 2023.

Good news for lobster lovers. Maui Lobster King has opened at the Azeka Shopping Center in Kīhei.

With visitors choosing to go elsewhere, Maui County can expect “slow progress” in its economic recovery in the wake of the August 2023 wildfire disaster, according to economics professor Carl Bonham, executive director of the University of Hawaiʻi Economic Research Organization.

Queen Kaʻahumanu Center celebrates this holiday season with 12 Days of Giveaways from Dec. 14-25. 

The Maui Volunteer Coalition for Recovery in partnership with the Ho‘ōla iā Mauiakama Disaster Long Term Recovery Group, is offering a limited number of complimentary POINT Pro subscriptions to Maui’s nonprofit organizations. This initiative aims to strengthen volunteer management systems and enhance capacity to support wildfire recovery efforts.

Maui Land & Pineapple Company, Inc. announced the selection of Kainoa Casco as Vice President of Land Productivity and Asset Management. Casco is responsible for developing and executing strategies to create value by increasing the productivity of unimproved land in West Maui.

Lahaina Cannery and Lahaina Gateway, West Maui’s premier shopping destinations, are welcoming a group of new tenants for the holidays – businesses that have been adversely affected by the wildfires and have been shuttered for nearly a year and a half.

Central Pacific Bank has hired Larry Panzeri as the new branch manager of its Kīhei branch. 

Applications are now open for a state-funded program empowering Hawai‘i-based entrepreneurs to develop their food products from concept to business plan and pitch, providing tools to grow and scale their businesses.