Problems with multiple instances of Matlab on Mac

I am running lengthly computations in Matlab. While a given computation is running I need to work on other projects in Matlab. When I open a new instance of Matlab from terminal, it fails AND it creates an error in the existing running job. Any ideas about how to get around this?

The error in the new instance of Matlab:

Unable to open file for Java VM logging
Fatal Error on startup: Initialization Error

The error in the existing instance of Matlab that is in the middle of computation:

Caught "std::exception" Exception message is:
Message Catalog MATLAB:services was not loaded from the file. Please check file location, format or contents