The Hawaiʻi Department of Business, Economic Development & Tourism (DBEDT) recently released its Quarterly Statistical and Economic Report, offering a glimpse into the state's economic performance and projections for the coming years. KHON2's coverage of the report indicates that Hawaiʻi is expected to see continued economic growth in 2026, a positive outlook for local businesses and investors.
The DBEDT report's findings paint a picture of resilience and gradual expansion. While acknowledging challenges such as global economic uncertainties, the report anticipates that key sectors will drive growth. One area of strength is the construction industry, with government contracts increasing significantly. This, combined with a robust visitor spending and a healthy labor market, provides a foundation for sustained economic activity.
The report highlights the crucial role of tourism. Although visitor arrivals may fluctuate, overall visitor spending is up, attracting a higher-spending visitor demographic DBEDT.hawaii.gov. This shift suggests a potential for increased revenue in the tourism and hospitality sector, benefiting hotels, restaurants, and related businesses. Furthermore, DBEDT's Director James Kunane Tokioka expressed optimism, stating that the state's long-term fundamentals remain intact, expecting accelerated growth in the coming years.
For entrepreneurs and those looking to invest, the report offers several encouraging indicators. The construction sector's momentum and the growth in personal income signal potential opportunities in real estate, development and related services. Moreover, the report's projections regarding employment expansion, with a steady rise in non-agricultural wage and salary jobs from 648,100 in 2025 to 665,300, point towards a favorable labor market.
While the report acknowledges external factors that could impact growth, the overall forecast suggests a positive trajectory for Hawaiʻi's economy. Businesses that can adapt to evolving trends, capitalize on the construction boom, and cater to the changing needs of visitors are well-positioned for success in the years ahead. The state’s focus on the tourism sector looks to be the key factor for the sustained growth.
