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Honolulu Star - Advertiser, August 1, 2013 | Go to article overview

Business Briefs


Psychology convention draws 8,000 to convention center

About 8,000 people are attending the American Psychological Association's annual convention at the Hawai'i Convention Center that started Wednesday and ends on Sunday, the Hawaii Tourism Authority said. The convention is expected to generate an estimated $37.8 million in visitor spending, $3.7 million in state tax revenue, and 64,320 booked room-nights, the HTA said.

This is the second time the Hawai'i Convention Center has hosted the American Psychological Association's annual gathering, with the previous one taking place in 2004.

Many attendees have brought family members along with them and are extending their stay in the islands, furthering the economic impact to Hawaii's visitor industry, HTA said.

La Perla luxury store to open on Friday

La Perla, a luxury brand of lingerie, swimwear and ready-to-wear clothing favored by Hollywood celebrities, will open an Ala Moana Center store Friday.

The store, La Perla's first in Hawaii, will be on the mall level in the Macy's wing. It will be open Monday through Saturday from 9:30 a.m. to 9 p.m. and from 10 a.m. to 7 p.m. Sundays.

Established in Italy in 1954 by corset-maker Ada Masotti, the company branched into swimwear in 1971, opened its first boutiques in Milan and Paris in 1991, introduced a ready-to-wear collection in 2002, and in 2008, was bought by JH?Partners, a San Francisco-based private equity firm focused on luxury brands.

Businesses donate $300K to Conservancy

The Nature Conservancy of Hawaii said Wednesday it raised more than $300,000 for local conservation from 61 businesses in fiscal year 2013.

Dustin Sellers, president of ProService Hawaii and a Conservancy trustee, led the effort to raise money from businesses. Since 1987, the Conservancy has raised more than $4 million from businesses to protect Hawaii's natural resources.

Businesses that gave $10,000 or more were Alaska Airlines, Alexander & Baldwin, ABC Stores, CDF Engineering LLC, Hawaiian Electric Co., Hawaiian Electric Industries, James Campbell Co., Macy's Foundation, Outrigger Enterprises Group, ProService Hawaii, Skyline Eco-Adventures LLC, The Howard Hughes Corp. and The Shidler Family Foundation.

"In difficult economic times, protecting the environment can get deferred, but these companies know the importance of the environment to Hawaii's economy," said Suzanne Case, the Conservancy's Hawaii executive director.

Ohana Pacific sees boost in assets, deposits

Ohana Pacific Bank's earnings more than quadrupled in the second quarter as assets and deposits both jumped at least 10 percent from the year-earlier period.

The smallest bank in the state also said it plans to open a branch in Kalihi, its first, by the start of the fourth quarter.

Ohana Pacific, headquartered on Kapiolani Boulevard near Ala Moana Center, opened in June 2006 to cater to the Korean community and small businesses and endured five straight years of losses before turning a profit the past two years.

The bank's net income last quarter rose to $260,951, including a $75,000 tax credit, from $61,665 a year ago when there was no such credit.

Assets rose 10 percent to $103.5 million from $94.2 million while deposits increased 10.6 percent to $89.6 million from $81.1 million.

Loans rose 5.9 percent to $66.5 million from $62.8 million a year earlier but decreased 4. …

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