Business briefs

Advertiser Staff

Airline parent's stock dips

Shares of Hawaiian Holdings Inc. ended the week at $1.34 yesterday, down a penny, one day after the parent company of Hawaiian Airlines disclosed that it was the subject of a Securities and Exchange Commission investigation.

Hawaiian Holdings disclosed Thursday that the SEC is investigating the company and several of its officers over a $25 million stock buyback program in 2002, less than a year before the airline filed for Chapter 11 bankruptcy protection.

Hawaiian Holdings stock has rebounded from a 52-week low of 29 cents in June.

Owners divide Piilani center

A partnership headed by Safeway Inc. has divided ownership of Maui's Piilani Village Shopping Center among the supermarket chain and two investors.

California-based Krausz Cos. bought the majority of the 140,770-square-foot center for $26 million, and Diversified Partners bought a portion occupied by Hilo Hattie for $876,000. Safeway, which developed the Kihei center with other partners, retained its store valued at $11.8 million.

The deal closed quietly in June. Besides Safeway, developers of the center on 15 acres were Haleakala Ranch affiliate Haleakala Properties and Baldwin Pacific Properties — the landowner and developer of the Piilani Village subdivision.