Kauai Business Optimism On An Upswing
Kauai’s economic conditions have improved markedly over the past six months, and even better times are on the way. This is the view expressed by participants in the most recent Kauai Business Conditions Survey. more

Honolulu 4th Most Expensive U.S. City
Cost of Living estimates released November 7 confirm that Honolulu is among the nation’s most expensive areas, surpassed only by Jersey City, Manhattan and San Francisco.  According to the ACCRA Cost of Living Index, Honolulu was the 4^th most expensive place to live among 307 urban areas surveyed during the third quarter of 2003. more

UHERO Construction Outlook: Hawaii Construction is on a roll
2003 marks the fourth consecutive year of growth in Hawaii's construction sector, and its all upside for 2004. After growing more than 13% during 2002, we expect construction spending growth to slow slightly to 7% in 2003 followed by a surge to over 17% the next year. The 2004 forecast reflects a dramatic acceleration of private commitments to build as the primary engine of construction growth, with rising government contract awards contributing to extending the cycle towards a peak beyond 2004. more

UHERO Hawaii Outlook: Construction to Fuel Strong Growth
Little more than six months after the outbreak of the War in Iraq, economic growth in Hawaii continues unabated. While the tourism industry is not wholly recovered, it has shown surprising resilience. And, buoyed by strong construction and housing, the broader economy has moved to new record high job counts and levels of personal income. With permitting activity high and major military housing projects soon to get under way, construction will continue to grow in the coming year. Combined with gains in tourism, this will support healthy expansion for the Hawaii economy. more

UHERO Forecast Update: Hawaii Expansion To Continue Despite Japanese Weakness
Hawaii's economic performance has been among the best in the nation, and the current expansion will continue. The pace of Japanese tourism recovery will remain anemic, but strong U.S. visitors and increases in length of stay will support moderate overall growth for the visitor industry. The job market's newfound strength is expected to continue, maintaining the unemployment rate in its current 4% range. Robust aggregate real income growth this year will likely cool slightly in 2004, as rising interest rates take some of the heat out of the real estate market. more

Kauai Economic Outlook: Moderately Strong Growth Seen
Kauai's economy is back on a firm growth path. If still below 1999 peak levels, tourism has largely recovered from the mild slowdown that followed 9/11. Outside of tourism, strength in real estate, construction, and non-tourism services has maintained the County's forward momentum. This year and next promise to be good ones for the local economy, with moderately strong growth.
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Gasoline Price Caps a Mistake
The gasoline price cap recently adopted by the Hawaiian Legislature is a mistake. The scheme will likely overregulate the gasoline market, encourage black market activities and protect the profits of the existing gasoline companies. A more measured response that addresses the apparent lack of competition promises to be more fruitful. more

Hawaii Becalmed: Economic Lessons of the 1990s
In the 1990s, after years of excitement and prosperity, the economic winds suddenly dropped from Hawaii's sails. The economic slowdown significantly changed how Hawaii's people think about their economy. Citizens and leaders began to look at things a new, to reexamine assumptions, and to question the old formulas and standard solutions. Yet with the nascent economic recovery that began in 1999, some of the old politically popular policies of dubious economic value began to reappear. It remains to be seen whether Hawaii citizens and leaders pay careful attention to both the costs and benefits of social and economic policy in coming decades. more

Honolulu More Expensive Than Many U.S. Cities, But Not All
ACCRA Cost of Living estimates released August 28 confirm that Honolulu is among the nation’s most expensive areas, though considerably cheaper now than the priciest cities such as New York, San Francisco and Chicago.  According to the ACCRA Cost of Living Index, Honolulu was the 9^th most expensive place to live among 307 urban areas surveyed during the second quarter of 2002.
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Hawaii Outlook: Post-War Tourism Struggle Won't Derail Economy
The aftermath of the War in Iraq and the growing SARS epidemic are likely to make this a poor year for Hawaii tourism. Still the local economy will continue to grow, buoyed by non-tourism strength in services, construction and other sectors. A bona fide job market recovery is now well underway. more

Hawaii Outlook: Recovery Continues Despite Tourism Woes
Hawaii's economy is on the road to recovery, but there is still plenty of unfinished business. Tourism is not yet fully back from the aftermath of September 11, and the labor market is still weak. But income growth persists. With a dismal outlook for Japan and only moderate U.S. growth, the visitor industry will continue to struggle in the new year. The rest of the state will depend on other local sources of strength to generate moderate income gains. more

Kauai Economic Outlook: Moderate Growth Expected
Kauai has withstood fairly well the global recession and the after-effects of 9/11. Strength in real estate, construction, and non-tourism services maintained the Kauai economy's forward momentum. These sectors will continue to support growth over the next two years as tourism's cyclical recovery proceeds. With a resumption of moderate job growth and improved profitability, real income for Kauai will grow by 1% this year and accelerate to 2.6% in 2003. Download Forecast Report (PDF)
County Council Presentation (Power Point)

Hawaii Outlook: Brief Recession Likely Over
Outside of tourism, the state has weathered the terror-induced slowdown fairly well. Job losses have been significant, but job recovery appears to have already begun. Hawaii will likely experience only a mild and short-lived recession in real personal income with year over year growth resuming in the 2nd quarter. Growth in the broad economy is probably already underway, and will strengthen as the year proceeds. more

Hawaii Outlook: Moderate Recession Underway
Hawaii has entered an abrupt slowdown that will continue well into the next year. Significant job losses have already occurred in tourism-related sectors, which will bear the brunt of the downturn. Effects on the broader economy will be less severe, but total personal income will show a moderate recession from now through mid-2002. more

Outlook for the Hawai'i Economy
The Hawaii economy entered 2001 in its best shape in more than a decade. While the external environment has deteriorated in recent months, continued strength in local economic activity will support growth for Hawaii's economy in 2001. Visitor growth will slow from last years pace, yet total arrivals will reach record levels in 2001. Construction will continue to lead the economic expansion increasing by nearly 10% in real terms supporting job and real income growth of near 2.5%. more