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Saturday, June 27, 2020
COVID: Half of Households with Children have lost income
By News Release @ 4:52 AM :: 366 Views :: Economy, COVID-19

COVID in Hawaii: Facts and Insights– New Survey Funded by Bank of Hawaii Foundation

Aloha,      June, 2020

The high cost of living in Hawaii is nothing new. However, the impacts of COVID-19 are unlike anything our state and our residents have previously experienced. The ongoing pandemic not only presents special challenges—from all perspectives—but it is rapidly reshaping lives and propelling families into financial insecurity.

The drastic decline in our economy is what prompted Bank of Hawaii Foundation to commission a community study, partnering with Anthology Research—“COVID-19 in Hawaii: Facts and Insights.” The attached report is a first of its kind. Nearly 1,100 full-time Hawaii residents from across the islands, surveyed during the month of May, shared first-hand information about their personal views, challenges and hardships as a direct result from COVID-19.

Two key findings from the survey are the overwhelming sense of fear from respondents about the virus itself and about re-opening our economy: 81% worry about contracting COVID-19 and only 5% believe we should allow visitors to return immediately. Undoubtedly, sentiment surrounding the novel coronavirus is complex and highly subjective. However, with 51% of respondents (in households with at least one child) reporting their income has declined since the start of COVID-19, it’s evident that immediate relief to our community is critical.

I wanted to share this summarized report, in advance of the comprehensive report to the media next week, as its findings are relevant to the valuable work you are doing now to help address re-open Hawaii’s economy. And I look forward to continuing the conversation and working together to reverse the loss our state and its residents have faced.

Mahalo, Peter S. Ho

Chairman, Bank of Hawaii Foundation

President and CEO, Bank of Hawaii

PDF: 11 page Report Summary

PDF: 18 page Final Report

HNN: Survey: 45% of Hawaii households have seen their incomes decline during the pandemic

CB: Survey Shows Harsh Financial Realities Facing Many Hawaii Residents 

KHON: “COVID-19 in Hawaii” study reveals impacts of pandemic on residents 

MN: Half of jobless filers had not received checks

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