BUSINESS BRIEFS
Maui could have office space glut
Advertiser Staff
Maui could be headed for an office space oversupply, according to a Colliers Monroe Friedlander report that said developers plan nearly 400,000 square feet of office space over the next two years.
The commercial real estate firm said businesses filled 180,000 square feet of Maui office space over the past six years during robust economic growth, which suggests that many construction plans will be scaled back or not proceed.
There is 643,100 square feet of office space on the island, of which 27,619 square feet, or 4.3 percent, is available. In 2001, Maui's office vacancy rate was 20.7 percent.
SHIPPERS HIKING FUEL SURCHARGE
The state's two largest shipping companies will increase their fuel surcharge by 1.75 percent for their Hawai'i and Guam service. Effective May 27, Matson Navigation Co., the state's largest cargo shipper, and Horizon Lines, Hawai'i's number two shipping company, said their fuel surcharge will increase to 22.5 percent from 20.75 percent.
GEM STORE NOW IN CHINATOWN
Locally owned gem and jewelry store Jungle Gems has moved its Honolulu store from Ward Warehouse, and is giving away a 77-carat ruby necklace to celebrate its relocation. The store moved to 12 S. King St. in the King's Court building between Bethel and Nu'uanu streets. Customers can enter in May and June to win the necklace. The store is open Monday through Friday 10 a.m. to 6 p.m., and on Saturday 10 a.m. to 4:30 p.m.
