HONOLULU (HawaiiNewsNow) - Four-fifths of the year through the current state budget year, tax revenues are down only one percent, less than half of what the council on revenues predicted. It's the first time in two years the council on revenues has coming this close to nailing it. The state had planned to balance the budget through the bookkeeping gimmick of delaying tax refunds into the next fiscal year. Now it plans to issue refunds for people who filed in January or February, starting at the end of this week. After that they said we'll see.
We get regular assessments of the local commercial real estate market from CB Richard Ellis, Colliers Monroe Friedlander, and Hawaii Commercial Real Estate LLC. And the latter notes some big chunks of Honolulu office space have come open. Smith Barney is vacating 20,000 square feet in a movie to Pacific Guardian Center, for example, and Metlife is closing its office at Alii place. HCRE says more tenants are seriously looking at owning their space.
The governor of American Samoa says it's hurtful of Starkist to cut hundreds more cannery jobs. Togiola Tulafono says he's disappointed, saddened and angry. He says Starkist could have cut costs by reducing salaries and bonuses.
Copyright 2010 Hawaii News Now. All rights reserved.
Hawaii News Now
420 Waiakamilo Road, Suite 205
Honolulu, HI 96817
Main (808) 847-3246
News (808) 847-1112