BUSINESS BRIEFS
Home prices drop on Kaua'i
Advertiser Staff and News Services
Home prices on Kaua'i cooled off a bit in August after hitting a record in July, according to figures released yesterday.
The median price of a single-family home on the Garden Isle in August was $649,000, a 28 percent increase over August of last year, when the median price was just under $507,500, according to the Hawaii Information Service.
In July, the median price of a house on Kaua'i hit a record $700,000.
SERVCO TO SELL MARINE SUPPLY
Servco Pacific Inc. has agreed to sell the assets of Servco Marine Supply to Tom Hattemer, president and owner of Mid Pacific Marine.
The transaction is anticipated to close by the end of this year. Servco Marine Supply is a wholesaler that sells outboard engines, parts and marine accessories from Bombardier recreational products under the Evinrude and Johnson brand names.
The two employees of Servco Marine Supply are expected to continue under the new ownership. Servco Marine Supply's sales represent less than 1 percent of the consolidated annual revenues of Servco. Hattemer has been engaged in the marine industry in Hawai'i for more than 20 years.
SURF SHOP OPENS IN WAIKIKI
Hawaiian Island Creations has re-entered the Waikiki retail market with a surf shop in the Royal Hawaiian Shopping Center.
The 3,000-square-foot store offers a complete line of surfboards, body boards, surf accessories and clothing, as well as surfboard rentals and lessons. A surf museum is set to open at the store later this year, which will include a full-scale lifeguard tower and various themed exhibits.
SCION XA RANKED TOP SMALL CAR
Toyota Motor Corp.'s youthful Scion brand led the Japanese automaker to more segment victories than any other company in a survey of buyer satisfaction. Honda Motor Co. was the overall winner, however, and General Motors Corp. was the top performer among U.S. automakers.
The Scion xA was the highest-ranking small car, and the Scion xB was tops in the small, multi-function segment, according to the results announced yesterday by Strategic Vision Inc., a San Diego-based marketing research firm and consultant to automakers.
