The Honolulu Department of Planning and Permitting will hold a hearing June 1 to solicit public comment on a redevelopment plan by Kyo-ya Hotels and Resorts that includes a 26-story oceanfront tower in Waikīkī.

The new hotel would be built on the site now occupied by an eight-story hotel that is part of the Moana Surfrider.

Kyo-ya is seeking a special management area use permit, a shoreline setback variance and two special district permits to proceed with the plans that include a 34-story tower nearby at the Princess Kaiulani Hotel.

The variance is needed because the proposal includes construction of a retaining wall, swimming pool and deck that encroach into the 40-foot shoreline setback area.

FDIC RATES FIRST HAWAIIAN 'OUTSTANDING'

First Hawaiian Bank received the top rating from the Federal Deposit Insurance Corp. for its performance under the Community Reinvestment Act, which encourages banks to lend in low- and moderate-income areas.

It was the sixth consecutive "outstanding" rating earned by First Hawaiian Bank.

First Hawaiian Bank Chairman and Chief Executive Officer Don Horner said that from September 2006 through October 2009, First Hawaiian Bank made loans totaling more than $737 million to support a variety of affordable housing projects and nonprofit organizations serving low- and moderate-income individuals.

ROYAL KONA WORKERS HOLDING STRIKE VOTE

Employees at the Royal Kona Resort, whose collective bargaining agreement expired in June 2007, have scheduled a strike authorization vote for today.

The workers will vote on whether to authorize their union, UNITE HERE Local 5, to call for a strike on their behalf should it become necessary. The union represents 145 employees at the hotel.

Union officials said after months of negotiations the hotel's owners voided the union contract in January 2009.