KAILUA-KONA — NELHA tenant Cyanotech has agreed to purchase a 6-acre production and research facility at the Hawaii Ocean Science and Technology Park in North Kona.
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One of the more unique property tax exemptions in the City and County of Honolulu is the exemption for “Historic Residential Real Property Dedicated for Preservation.” Under the exemption ordinance, owners of historic homes can save thousands of dollars in real property taxes every year if they put up a certain plaque, allow viewing of the home, and meet other requirements. For the fiscal year ending June 30, 2019, the city is giving the exemption to 342 homes and forgoing taxation on $600 million in property value, translating to a revenue loss exceeding $2 million.
HILO — A former general manager of the Grand Naniloa Hotel in Hilo is suing the hotel’s former management company and an executive who was his supervisor, claiming he was wrongfully forced to resign after uncovering and reporting internal theft and corrupt practices by employees.