Hawaii Theatre Posts A Profit; Plans Restoration

posted by Ross Melnick on September 25, 2002 at 3:47 pm

HONOLULU, HI — The Hawaii Theatre has finally posted a profit in its sixth year of operation after reopening in 1996 following a seven year restoration effort. According to the Pacific Business News, the theater ended the fiscal year with a net profit of $178,000 and has reduced its outstanding debt to $1.5 million.

The theater’s $10.5 million capital campaign recently received a $500,000 Kresge Foundation grant and $1 million from the state and is now within $2 million of completion. With the funds, the theater hopes to first pay down the remaining debt and then restore the exterior of the former movie palace and install a new “movie marquee”.

The Hawaii Theatre was originally opened in 1922 by Consolidated Amusements which operated the theater until 1984 when it was finally shuttered. Saved from the wrecking ball, the theater was carefully restored and then reopened as a performing arts center.