Hawaii State Federal Credit Union buys Kakaako property for new flagship branch
PBN File
Hawaii State Federal Credit Union, which recently bought Acme Fender & Paint Shop's property in Kakaako, plans to build a new flagship branch on that property.
Hawaii State Federal Credit Union[6], the second-largest credit union in the state, recently purchased the former Acme Fender & Paint Shop property in Kakaako, where it plans to build its new flagship branch not too far away from its current Honolulu location, the head of the company told PBN.
Andrew Rosen[7], president and CEO of Hawaii State Federal Credit Union[8], whose main branch is located at 560 Halekauwila St., said that the new facility will house its retail functions.
The new branch will be located on a ground level with two floors of parking above it.
“With the population growing in Kakaako, we will have a lot of new users using our branch,” he told PBN. “A rail transit station will be nearby, so there will be a lot of foot traffic as well. We want to make sure we have a modern branch that addresses our own growth as well as the areas growth.”
The plan is to keep its existing five-story building for administrative functions with the new facility helping to deal with the expansion of the company.
“We have expanded in some new business lines,” Rosen said. “We’re back in the mortgage business and now we’re doing more financial advisory and investment services. In the last year, we’ve hired 20 new employees.”
Hawaii State Federal Credit Union paid $3.85 million for the property, according to public records and the broker who handled the deal, Kevin Nishikawa[9], vice president and Realtor for Honolulu-based Marcus & Associates Inc.
Rosen said that Acme Fender & Paint Shop, which remains open, will continue to lease the property from Hawaii State Federal Credit Union until construction on the new building begins.
Duane Shimogawa covers energy, real estate and economic development for Pacific Business News.
References
- ^ Duane Shimogawa (feeds.bizjournals.com)
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- ^ LinkedIn (www.linkedin.com)
- ^ Hawaii State Federal Credit Union (www.bizjournals.com)
- ^ Andrew Rosen (feeds.bizjournals.com)
- ^ president and CEO of Hawaii State Federal Credit Union (www.bizjournals.com)
- ^ Kevin Nishikawa (feeds.bizjournals.com)