Honolulu-based Aqua Hotels & Resorts is adding the the Hotel Lāna'i to the growing list of properties it manages across the state.

Aqua will take over management of Hotel Lāna'i on May 1, the company announced yesterday.

"As Hawai'i's growth leader, we're pleased to welcome Hotel Lāna'i to our selection of hotels and resorts," Ben Rafter, Aqua's president and chief executive officer, said in a news release.

"In the previous 12 months, Aqua nearly doubled its statewide inventory, and adding a distinctive hotel that's steeped in Lāna'i's history is a great addition for us and our guests."

Pineapple pioneer James D. Dole built Hotel Lāna'i in 1923 as a retreat for executives and other guests. It is in the heart of Lāna'i City.

Castle Resorts manages 17 hotels on O'ahu, Kaua'i, Maui and Moloka'i.

LOCAL SURF RETAILER TO RETURN TO WAIKīKī

One of Hawai'i's major surf retailers, Hawaiian Island Creations, plans to return to Waikīkī with a high-profile store.

HIC said it anticipates opening a roughly 5,000-square-foot store May 7 in the former location of luxury fashion retailer Burberry near the 'ewa end of Waikīkī at 298 Beach Walk, next to the future home of a new Hard Rock Cafe.

The store will become the 11th in Hawai'i for the local chain established in 1971, and rival the size of its main store at Ala Moana Center. The store also marks a return to Waikīkī for HIC, which had operated a store at Royal Hawaiian Center until about three or four years ago.

HIC said the new store will stock a wide variety of merchandise, as well as have surfboard rentals and lessons provided by Faith Surf School.

QUEEN'S HEALTH BONDS STILL A-PLUS

Standard & Poor's Ratings Services has affirmed its A-plus long-term and underlying ratings for Queen's Health Systems revenue bonds. The ratings agency said the outlook is stable.

The ratings agency called attention to Queen's strong balance sheet and solid market position. It said Queen's had $365 million of bonds, taxable commercial paper and commercial leases as of June 30, 2009.