Kailua residents are rallying the community to help save the annual Fourth of July fireworks show.

The 60-year-old tradition could come to an end because of a lack of money amid a bad economy.

The event is three weeks away, so community leaders are racing against the clock to raise $40,000 so the show can go on.

A group called Save Kailua Fireworks is asking for donations on its Web site: savekailuafireworks.com.

A couple dozen businesses and individuals have offered donations to keep the event alive, including Formaggio Grill.

"We're a big part of Kailua and this has been a tradition for the past 60 years," said Patrick Okubo, managing partner. "So it's an important thing that we want to keep up."

Okubo said Formaggio has pledged to donate proceeds from sales on the next two Mondays, June 22 and 29.

"We're going to donate 10 percent of all the proceeds for anybody who comes and says we're here to save the fireworks for Kailua," he said.

Okubo pledges support despite the fact that July 4 is the restaurant's slowest day of the year.

"To be honest, most people go to the beach," he said. "They go to Lanikai. For that particular day, it's counterproductive for us. In the long run, the bigger picture, it helps us because it helps the community."