Make Next Year Better
Now is the time to start planning so next year is better than this one. Start by reflecting on the current year and identifying what worked well and what didn’t. Were the challenges hiring good staff or training them? Making…
Finance
Increasing the Value of Your Business
You have a business that is doing well and paying the bills. Maybe it has put one or two children through college. The kids are working, maybe on the Mainland, and not interested in taking over the family business. Now…
Divorce in Hawaii: Till Debt Do Us Part
Divorce is painful no matter where you live, but the pain in your wallet can be especially torturous in Hawaii. Hawaii is highly ranked for quality of life – which helps marriages thrive – but is also worst in the…
5 Steps to a Lasting Legacy
A charitable gift annuity provides a meaningful gift to charity while improving your financial situation in two ways for the rest of your life: a steady stream of income and tax benefits. More important, you create a lasting legacy in…
Rent or Buy?
Six factors to consider when choosing whether to buy or rent a home in Hawaii Trade her peaceful rental on 2 acres in rural Maui for a condo of her very own? No thanks. Over the 30 years she has…
Business' Biggest Secret
Dane Atkinson used to be the kind of startup CEO that board members praised because he attracted top-notch talent while saving money. Certain candidates were just not aggressive at negotiating their salaries, and he took advantage of that. “It’s easy…
The Cost of Dying
There are many ways to memorialize the dead, but one constant is that a little forethought and communication - before you go - can save your family a lot of money and grief after you're gone. A few times a…
The Careerist: Should I Jump Into the Gig Economy?
Q: I’ve got a steady job making decent money, but it’s 40 hours/week in a cubicle. Some of my buddies are skipping the “office grind” for freelance work or are jumping on with Uber and Lyft. They’ve got flexibility and…
Talk Story: Peter Ho
Even after six years at the helm of the state’s second largest bank, Ho is still a relatively young CEO, at age 50. However, he points out: “There are a lot of miles on the odometer.” We talk to him…
Retirement Plans for Your Employees
Q: I want retirement plan for my employees that doesn’t bust my company’s budget. Is that possible? Company retirement plans are a terrific incentive for attracting and retaining top talent. Employees are far more likely to participate in an employer-provided plan than…
Buy, Sell, Or Hold?
Meredith Mawhar says she settled on her new career because she was excited by the Research Challenge, a prestigious competition for college students sponsored by the Chartered Financial Analyst Institute. Mawhar is a student at UH Manoa’s Shidler College of…
Manage Your Borrowing Costs
Interest rates are going up. What can I do to keep my cost of borrowing affordable? Interest rates have been low for so long that many borrowers take them for granted. Savvy business owners, however, are closely watching interest rates…
Worth Considering: Automatic College Savings Programs
This new monthly column looks at innovative programs elsewhere and asks: Might this work in Hawaii? In our first column, we explore the city of San Francisco’s mission to bring low-income students onto the college track and hear how one…
Man at the Center
YES! A Memoir of Modern Hawaii By Walter Dods Jr., with Gerry Keir and Jerry Burris Walter Dods Jr. was born in Honolulu just before Pearl Harbor, the first of seven children in a close-knit family that struggled to pay…
Talk Story with Catherine Ngo: President and CEO, Central Pacific Financial Corporation
Ngo is one of only two women in the state heading a publically traded company. She shares career insights and discusses her vision for Central Pacific Bank. You were COO and became CEO on July 1. What was your first…
Help for People Facing Foreclosure
WHILE TRYING TO SAVE his home from foreclosure, what was most difficult to handle for cattle rancher Jeffrey Medeiros was not knowing the person on the other end of the phone line. “Every time I called the bank, I spoke to…
Ask The Expert: Don’t Let Debt Hold You Back
This Month's Expert Blenn Fujimoto Executive VP & Specialized Markets Division Manager at Central Pacific Bank Q: I’m saddled with student-loan debt, but would like to start my own business. How can I get started? A: STUDENT-LOAN DEBT can be a…
Payday Lenders
The payday lending industry in Hawaii offers short-term loans with annual interest rates of up to 459 percent. The companies say they are providing an important service, but critics argue they are soaking the needy and driving them further into…
Wall In The Family
When tricky emotional issues stifle a family’s wealth-management planning, financial advisors call upon therapists to move the process forward. It could be the basis of a twisted reality show: Throw a family into a conference room, have them grapple with…
Protecting You From Bitcoin Fraud
CREATOR: Larry Fenton has been an ironworker by trade for 26 years, holds a B.A. in history and political science from Chaminade University and a business certificate from the Wharton School of Business, and says he’s “been looking for a…
Talk Story: Richard Wacker
Richard Wacker didn’t start as a banker. An engineer by training, he spent 20 years in executive positions at General Electric. His first banking job came in 2004, when he left GE to run the troubled Korea Exchange Bank for…
Managing the Flood
In a world in which too much information can be as dangerous as not enough, Contix offers a solution. The app sifts through millions of social-media posts about events – such as when a celebrity promotes a company or brand…
Ask the Expert: Valuing Your Business
Herb Wheatman ASA, CPA/ABV, CBA VP and Manager, Business Interests & Valuation Bank of Hawaii boh.com Question: “I own a small business, which I’m thinking of selling. How do I find out how much it is worth? Answer: Your business…
The Growing Crisis of Student Debt
Ryan Delaney had been teaching at Waianae High School for two years when he received an offer he couldn’t refuse: Return to UH-Manoa’s Speech Department to get his M.A. at a discounted price. While earning that degree, he served as…