The Sheraton Waikiki says its new Kai Market restaurant is the first in the state to offer a menu with exclusively locally grown products.

The eatery, which opened yesterday, offers breakfast and dinner in a buffet setting. In addition to traditional Hawaiian fare, Kai Market's menu will include dishes selected each month through a recipe contest.

Breakfast prices are $26 for adults; children 12 and under eat free with a paying adult, with a $13 charge for each additional child. The Plantation Night dinner is $49 for adults; children 12 and under eat free with a paying adult, with a $26 charge for each additional child.

FIRM SEEKS $52.5M FROM JAPANESE FUND

Prospect Asset Management Inc., a Honolulu-based investment fund specializing in Japanese property, plans to tap a Japan government fund designed to support the nation's real estate industry.

The company will seek $52.5 million from the fund to redeem a bond due in October issued by Prospect REIT Investment Corp., Prospect Chairman Curtis Freeze said.

Prospect Asset Management manages the real estate investment trust and holds an 18 percent stake, according to Bloomberg data. The Ministry of Land, Infrastructure, Transport and Tourism and state-owned Development Bank, with support from some private companies, plan to start the fund as early as the end of this month to help REIT financing.

CENTRAL PACIFIC CEO GETS $249,999 RAISE

Ronald Migita, who earned $1 as CEO of Central Pacific Financial Corp. last year, is getting a raise.

In a filing with the Securities and Exchange Commission, the bank holding company said Migita will earn $250,000 for the second half of 2009.

The raise, which is on top of Migita's $80,000 annual compensation as Central Pacific's chairman, places him at the bottom of the pay scale when it comes to local CEO pay.

An Advertiser study earlier this year found that the average pay for a CEO of a local publicly traded company is about $2.9 million.

BOOK REPRINTS ALOHA AIRLINES STORIES

More than a year after its shutdown, Aloha Airlines is being remembered through the publication of a new book.

"Stories of Aloha: Homegrown Treasures of Hawai'i" is a collection of stories and essays written by local writer Jocelyn Fujii between 1985 and 2008 for the airline's inflight magazine.

The 264-page book, which is published by Hula Moon Press, will be released in October.