Hawaii's construction industry is experiencing a period of significant activity, with several high-value commercial projects underway, presenting both opportunities and challenges for local businesses. According to a recent report from Pacific Business News, major projects are reshaping the landscape of Oahu, signaling a continuing investment in the state’s infrastructure and hospitality sectors.
The largest project listed, the Mandarin Oriental Honolulu, reflects a massive $1 billion investment, indicating strong confidence in the luxury hospitality market. This project, developed by Salem Partners and BCDC, is a significant undertaking that underscores the potential for substantial returns in Hawaii's tourism sector for investors. The prolonged timeline, with a start date in 2019 and lacking an end date in the provided information, suggests the complexities and potential delays often associated with large-scale construction endeavors.
Beyond luxury hotels, significant infrastructure improvements are also underway. The Honouliuli Wastewater Treatment Plant Phase 1C, with a value exceeding $516 million, demonstrates the importance of public works projects. This project, contracted to Hensel Phelps, is scheduled to run from January 2024 to September 2029. This highlights the long-term nature of construction projects and the need for businesses to plan accordingly. These large public projects create considerable demand for subcontractors and suppliers, opening doors for local businesses that can secure contracts and reliably deliver services.
Construction projects across Hawaii are not only increasing the demand for labor, but also presenting opportunities for real estate development, particularly in areas surrounding these new projects. For example, Pacific Business News reported Bank of Hawaii's plans to build a new oceanfront branch in Hawaii Kai, which signifies confidence in existing areas and future development. Moreover, recent reports from Pacific Business News show that investment in luxury hospitality is still strong, with California investors purchasing land in Ko Olina for a new resort. Hawaii's construction sector, therefore, continues to evolve with investment in infrastructure, hospitality, and real estate to keep construction companies busy.
