News and Events for Monday, May 7, 2012

High auction sale for ‘Anini Vista

KOHOLA POINT — Concierge Auctions of New York reported Tuesday the successful auction of the three-acre Kohola Point estate in the gated ‘Anini Vista community on Kaua’i’s North Shore.

The sale marks the highest price in the past year in ‘Anini Vista, the second-highest this year on Kaua‘i, and the firm’s 11th consecutive property sold in cooperation with listing agent Neal Norman of Hawai‘i Life Real Estate. The buyer is from North Dakota and is represented by Roni Marley, also of Hawai‘i Life Real Estate.

Situated at 4201 ‘Anini Vista Drive, Kohola Point is a 5,230-square-foot private residence with three bedrooms and four and a half baths, custom-designed by Gary Tobey and Steve Devery. Its great room features a grand, cypress-beamed ceiling and walls of glass doors that slide from the entire oceanfront side of the home and pocket to allow seamless living with the exterior.

Concierge Auctions held 107 showings and produced 11 bidders from five states with a campaign of Internet, print and direct marketing.

SBA Early Stage Capital Program

The U.S. Small Business Administration invited experienced early stage investment fund managers to apply for licensing as Early Stage Innovation Funds as part of SBA’s Small Business Investment Company capital investment program.

Licensed Early Stage Innovation Funds can receive SBA-guaranteed funding to match their privately raised capital up to a maximum of $50 million. Early Stage Innovation Funds must invest at least 50 percent of their investment dollars in early stage small businesses.

Since January 2006, less than 10 percent of all U.S. venture capital dollars went to seed funds investing in high-growth potential, early stage companies — and 69 percent of funds went to just three states.

The Early Stage Innovation Fund initiative will target this gap by licensing and guaranteeing leverage to funds focused on early/seed stage investments. There are nearly 300 SBICs with more than $17 billion in capital under management.

A final rule effective April 27 sets forth regulations for Early Stage Innovation Funds with respect to licensing, capital requirements, distributions, and capital impairment among other things.

DC convention expo draws Hawai‘i interest

A Hawai‘i sales team brought the state’s marketing message of “Where Business and Aloha Meet” to The Springtime in the Park Expo in Washington, D.C. Support included sales representatives from Courtyard Marriott Kaua‘i at Coconut Beach.

The Thursday event is the nation’s biggest market for associations and the meeting industry’s largest one-day tradeshow. Hawai‘i’s meetings industry blended with regional meeting planners, led by the Hawai‘i Visitors and Convention Bureau and Hawai‘i Convention Center with support from 11 hotel partners.

The highlight of “Springtime Week” was presenting 1,000 lucky meeting planners with a fresh flower lei as a tribute to the islands’ time-honored tradition of Lei Day on May Day in Hawai‘i. A special reception targeted clients with prospective business on the islands.

HVCB Vice President Michael Murray said the Springtime Expo is vital to Hawai‘i’s marketing efforts, as Washington, D.C. has the nation’s largest concentration of national and international associations at 3,500.

Hanalei Trading Girls celebrates first year

KAPA‘A —The women’s clothing store “Hanalei Trading Girls” in downtown Kapa‘a celebrated its first anniversary with a cocktails and discounts event on April 27.

Michele Sgarbi, manager, said clients had a great time shopping with everything marked down 20 percent while they dined on sushi from the neighboring Sushi Bushido Restaurant.

“Mahalo for your great support,” Sgarbi said.

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