Monday, the Hawaii Public Utilities Commission approved Young Brothers’ emergency request to increase rates by 46% over the next year.
As part of the agreement, the shipping company must restore its pre-COVID sailing schedule between Hilo, Kahului, and Honolulu by September 1. The company must also undergo an independent audit, and give the state at least six months notice if it plans to halt interisland service.
The company requested the hike to fill a $27 million funding gap. Young Brothers says it’s not looking for a profit. It says without the help, it wouldn’t be able to pay its bills or continue funding operations.
The company issued a statement reading in part, “While we are still reviewing the details of the order, we are confident that Young Brothers will be able to continue its legacy of service to our island communities.”