Economy

... industries with significant growth potential that are currently facing obstacles such as inadequate infrastructure, skills shortages, and market and government failures ....

... tourist count down 4.8%, spending down 4.0% ....

... Study shows short-term rentals generated $2.2 billion in economic activity for Maui and $11.3 billion across Hawaii in 2023 ....

... Between January and April 2024, visitor arrivals by air to Maui County fell 24.0 percent and expenditures decreased 22.6 percent compared to the same four months in 2023 ....

... Young families are leaving Hawaii.  Rich retirees are moving in.  The result is a sharp increase in per capita GDP ....

... Innovation Potential: 50th ....

... There were 753,551 visitors to the Hawaiian Islands in April 2024, down 8.9 percent from the same month last year. Total visitor spending measured in nominal dollars was $1.51 billion, which was a 12.6 percent drop from April 2023 ....

... There are still around 27,800 fewer jobs in Hawaii than before the COVID-19 pandemic ....

... Hawaii’s economy will grow at a slower pace than in past years ....

... There were 855,537 visitors to the Hawaiian Islands in March 2024, down 5.0 percent from a year ago. Total visitor spending measured in nominal dollars was $1.76 billion, which was a drop of 4.2 percent compared to March 2023 ....

“...30% respondents reported that if there was not a home and vacation rental option during their recent stay in Hawaii, they would not have made the trip....”

... Though visitor spending decreased by 4.5 percent in January 2024, state general excise tax (GET) collections were up by 2.4 percent during the same month, an increase which can be attributed to household spending ....

... disasters from COVID to Lahaina are the only thing holding Hawaii's economy together ....

“...I think there is a misconception now that there are jobs that are great right here in Hawaiʻi that you can get right after high school with just a high school diploma and that’s just not the case....”

“...Hawaiʻi currently holds the national championship title...."

“...30% respondents reported that if there was not a home and vacation rental option during their recent stay in Hawaii, they would not have made the trip....”

... Over the years there have been many reports, plans, and efforts to improve Hawaii’s economy, with mixed success ....

... Hawaii 46th ....

... DBEDT lowered the economic growth rate for 2024 to 1.3 percent ....

... States with the Most People in Financial Distress in 2023 .... 

... how many years will depend on which path is taken ....

... The report found that Hawaii's financial condition improved in 2022, but the state still needed $11.4 billion to pay its bills ....

... Hawaii economists say Lahaina locals could be priced out of rebuilt town without zoning changes  ....

“Tourism…dropped off the edge of the Earth.”

...DBEDT reduces its economic growth projections for Hawaii from 1.8% for 2023 to 1.1% and from 2% to 1.5% for 2024....

... we cannot afford to further burden our economy with our usual high-tax and high-spending habits ....

... best-selling author Connor Boyack will explain why the next generation is critical to ensuring justice and prosperity ....

... "It would be potentially catastrophic if no one traveled to the island," Green said ....

... but the number of jobs decreased ....

... The industry supports about 5,000 jobs in American Samoa, chief among those a StarKist Co. tuna cannery ....

" ... if the government spending is growing faster than the private sector, then it is unsustainable .... "

... in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 24,200, or -3.7 percent ....

... Energy-producing and tourism-dependent states took the biggest hits in productivity: Hawaii was down 5.3% to $75.39 ....

... some contribute more than others ....

... projected economic growth rates for Hawai‘i for both years are better than the expected growth rates for the nation ....

... A national recession will weigh on Hawaiʻi later this year ....

"...While international tourism will continue to recover, domestic travel will soften as the US economy contracts later this year...."

... DBEDT kept its economic growth projections for 2023 and 2024 at 1.7 percent and 2.1 percent, respectively ....

... It’s clear that some people are better than others at handling their finances ....

... With the average hotel occupancy projected to be about 63% across the nation this year, Hawaii is projected to have a 78% occupancy rate. Its rate in 2019 was 80%, the report showed ....

... factors that contribute to the state’s high cost of living, such as its high cost of housing, high taxes, boondoggle projects, shortage of medical professionals and more ....

... The 3.3% annualized expansion rate was the 17th largest ....

... According to recent data, searches for side jobs have seen an increase of 49.89%, with Hawaii ranking sixth among the states ....

... "7.2% of the individuals were furloughed, or reduced their working hours while 6.6% of them reported having someone in their family furloughed or reducing working hours" ....

... According to the Index, Hawaii’s areas for improvement include business environment (ranked 51st), economic quality (ranked 51st), infrastructure (ranked 35th) and education (ranked 28th) ....

... Jobs increased by 25,800 over-the-year ....

... Honolulu showed a Consumer Price Index change of -0.6% over the last two months ....

... Rising interest rates, dwindling pandemic era savings and the coming U.S. downturn will cause a pause in growth next year. But the belated recovery of the Japanese visitor market and surging public sector construction will prevent a recession in the islands ....

... comparing the actual outcomes during the affected period with the pre-pandemic forecast ....

... DBEDT kept economic growth projections for 2022 and 2023 for the State unchanged at 2.6 percent and 1.7 percent, respectively ....