Hawaiian Springs LLC, a bottler of Big Island artesian well water, is expanding distribution of its bottled water on the Mainland.

The company said it has sold its water primarily in Hawai'i since 1995 and has had limited distribution on the Mainland through health food retailers including Whole Foods. It said the bottled water will now be available at additional stores across the country.

Hawaiian Springs bottles water drawn from an artesian well at the base of Mauna Loa.

HAWTEL POSTS SMALLER LOSSES

Hawaiian Telcom Inc. said its losses narrowed in April.

In a filing with the U.S. Bankruptcy Court, the state's largest phone company reported a net loss of $6.1 million for April, which was down from $15 million in the previous month.

The month-to-month profit comparison is partly skewed by a number of noncash costs and one-time charges that the company recorded in March.

Still, the company managed to reduce expenses by $2.9 million to $23.3 million while revenues remained flat at $34.5 million.

BANK EXECUTIVE STEPPING DOWN

Central Pacific Bank's chief risk officer has resigned.

Curtis Chinn, who also is executive vice president with the bank and its parent Central Pacific Financial Corp., will step down Aug. 6.

The bank said Mary Weisman will step in as the bank's interim chief credit office. Weisman, 50, has worked with the bank since 2008. From 1996 to 2007, she served in various management positions at Bank of Hawaii Corp.

Central Pacific, the state's third-largest bank, posted record losses during the first half of 2008 due largely to loans to California homebuilders hard-hit by the subprime lending crisis. But the company's finances have bounced back in recent quarters.

FESHARAKI SAYS OIL PRICES MAY DIVE

Fereidun Fesharaki, chairman of Honolulu-based FACTS Global Energy, says crude oil prices may fall to $40 a barrel this summer as U.S. stockpiles increase.

There may be a scenario where "sometime in the middle of summer, there will be a $20 drop in the price of oil because of the huge inventory build-up taking place," Fesharaki said at an Australian Petroleum Production and Exploration Association meeting. Bloomberg News quoted Fesharaki as saying OPEC would become active and cut output "if prices go down to $40 a barrel again."