Citing the global financial crisis, Honolulu, Hawaii-based Pacific magazine has ceased operations. The decision was effective January 1.

“We believe the regional market turmoil will continue, making it unfeasible to continue operations at the level that we expect in our publication,” publisher Floyd Takeuchi wrote in a note [1] posted to the magazine’s Web site. Takeuchi did not immediately return a request for comment.

Launched in 1976, Pacific was most recently published by TransOceanic Media, a division of the aio Group, a holding company that also owns Honolulu magazine.

Pacific’s readership spanned the Pacific, North America, Asia, Europe and the Middle East, Takeuchi wrote. Downtown Planet, a free weekly newspaper published by TransOceanic, folded in 2006.