New signs that Hawaii’s economy is turning around

500 buyers sign up for 176 Holomua condos

Nearly 500 prospective buyers signed up in April to purchase 176 units in the planned moderate-price condominium tower Holomua in Honolulu’s Makiki neighborhood. The response was dramatically different from an original sales launch in June 2009, and is another signal that the local housing market is rebounding. Holomua sales had been stuck at about 44 units since 2009.

Local developer Peter Savio recently became co-developer and broker for Holomua to help restart the stalled project, where prices range from $239,900 to $467,700. The developers said some people waited 14 hours in line before the sales office opened. Nearly 2,000 people passed through the doors, and the project signed up more than 300 backup buyers to the initial 176, project officials said. The sales should allow construction to begin in July.

Credit card debt in Hawaii falls 16.7 percent since 2010

Hawaii’s average credit card debt plunged 16.7 percent in March to $7,666 from $9,200 a year earlier, according to a report by Credit Karma Inc., a California-based credit scoring website. Hawaii ranked 44th for highest credit card debt among the states, with a credit score of 674, down one point from 675 in March 2010.

In addition, mortgage debt declined 2.1 percent to $301,058 from $307,619 the year before, while auto loan debt rose 6.4 percent to $15,811 from $14,862. Student loan debt also increased to $27,377, a 9.1 percent increase from $25,093 at the same time last year.

Job picture improves thank to home improvement retail and McDonald’s

Home Depot Inc. and Lowe’s Co. said they each hired more than 100 new employees in Hawaii in preparation for the biggest home improvement selling season of the year, which begins in March. Lowe's said its new Honolulu store in Iwilei, which formally opened on April 28, will employ about 125 people. The store will be Lowe’s fourth in Hawaii and second on Oahu for Lowe's – the other stores are in Kahului, Kona and Waikele.

McDonald’s Restaurants of Hawaii sought to hire up to 1,000 employees in the Islands on April 19. The one-day hiring event was part of the chain’s nationwide effort to hire a total of 50,000 workers that day. Most of the Hawaii jobs offered are new positions and include part-time, full-time and managerial work. Most of the jobs will pay above minimum wage, according to Paulette Wage, the company’s human resources manager.

McDonald’s says the new hires anticipate new restaurants opening in the future, the busy summer season, and existing restaurants’ expanding their hours, according to Wage. Applicants can apply at any McDonald’s restaurant or online at www.mcdonalds.com/careers.