Hoku General Counsel Scott Paul said the company had no explanation for the jump in its shares. Hoku shares have traded in a range of $2.12 to $13.43 over the past year.

Mobi PCS launches Mainland roaming service

Wireless phone company Mobi PCS today launched a roaming service that will allow customers to use their phones while on the Mainland.

Mobi's introductory rate for Mainland roaming is 29 cents a minute during 2006. The roaming service does not include the Neighbor Islands. However, the company said it plans to extend phone service outside Oa'hu.

35,000 turn out for Made in Hawaii Festival

Last week's Made in Hawaii Festival at Blaisdell Exhibition Hall and Arena drew 35,000 attendees over three days and generated $3 million in sales, organizers said.

The annual event featured Hawai'i-made products, clothing and home furnishings, plus cooking demonstrations and entertainment.

Honolulu to sell $333 million of wastewater system bonds

The City and County of Honolulu plans to sell $332.6 million of wastewater system revenue bonds to refund some existing debt and pay for work on O'ahu's sewer system.

The bonds are to be insured by MBIA Inc. and are to mature from 2007 to 2032. UBS AG is managing the sale, which includes five separate series of debt. Fitch rates the debt AA-, fourth highest of 10 investment grades.

In March, a sewer main rupture resulted in a 48.7 million gallon spill in the tourist area of Waikiki. By the year 2017, Honolulu plans to spend $2.49 billion to modernize its sewer system.