Hawaii Business Beat: Navigating Shifting Sands and Seizing Opportunities This Week
Aloha, business leaders! This week in Hawaii, tourism faces headwinds as airlines reroute, potentially bypassing Honolulu, while a Kauai resort's savvy makeover demonstrates strategic resilience. Simultaneously, the State Data Book acts as a crucial resource for businesses. Plus, the UH Shidler College of Business will see a change in leadership with Vance Roley stepping down as Dean.
Top Headlines Of The Week In Each Category
Tourism & Hospitality
Hawaii's Crossroads Status Threatened as Airlines Bypass Honolulu
The trend of major airlines bypassing Honolulu for nonstop flights is causing concern for Hawaii's tourism-dependent economy. This shift threatens the islands' long-held role as a Pacific hub and presents challenges to local businesses, potentially impacting international connectivity and tourism demographics.
Read full article →Kauai Resort's Multimillion-Dollar Makeover Attracts New Markets, Boosts Bottom Line
The Royal Sonesta Kauaʻi Resort's recent multimillion-dollar renovation has significantly boosted its financial performance, setting the stage for its most successful year in over a decade and setting a positive example for Hawaii's hospitality sector.
Read full article →Business & Startups
DBEDT Releases 2024 State of Hawaii Data Book: A Vital Resource for Business
DBEDT has released the 2024 State of Hawaii Data Book, a crucial resource providing in-depth economic and social data essential for entrepreneurs, investors, and business professionals operating in Hawaii. This comprehensive publication offers valuable insights into various sectors, aiding in informed decision-making and strategic planning.
Read full article →Vance Roley to Step Down as Dean of UH Shidler College of Business
Vance Roley, the Dean of the Shidler College of Business at the University of Hawaii and First Hawaiian Bank Distinguished Professor of Leadership and Management, is stepping down after serving since 2005. This leadership transition will significantly impact the Hawaii business community.
Read full article →Real-Estate & Development
Hawaii Plans $1.4B Transit-Oriented Development Near Rail Station in East Kapolei
Hawaii is planning a $1.4 billion transit-oriented development in East Kapolei, featuring housing, a hotel, and commercial spaces, offering significant opportunities for entrepreneurs and investors in the real estate and tourism sectors.
Read full article →New Research Unveils Insights into Post-Wildfire Housing Decisions on Maui
A new study, presented by the Maui Housing Hui, sheds light on post-wildfire housing decisions, offering vital information for real estate investors and professionals. The research, conducted in collaboration with multiple universities, offers crucial insights for those involved in Maui's recovery efforts.
Read full article →Finance & Investment
Hawaii Residents Struggle: New Report Highlights Financial Challenges for Residents and Businesses
A new report indicates that Hawaii residents must work the most to maintain an average living standard in the U.S. This situation is fueled by a high cost of living and rising debt, posing challenges for local businesses and investors but also creating openings for strategic financial planning and community support.
Read full article →Hawaii Supreme Court Ruling Raises Concerns About Foreclosures and Mortgage Debt
A recent Hawai’i Supreme Court ruling has extended the timeframe for lenders to pursue foreclosures, prompting concerns from community groups about the potential revival of old mortgage debts and its impact on vulnerable homeowners. This decision has significant implications for Hawaii's real estate market, demanding careful attention from entrepreneurs, investors, and homeowners.
Read full article →Policy & Regulation
New Chief Economist Appointed: Shaping Hawaii's Economic Future
Seth Colby's appointment as Hawaii's new chief economist marks a pivotal moment for the state, as he will guide economic policy amid changing conditions and provide key insights for business professionals and investors.
Read full article →Gov. Green Forms Green Fee Advisory Council to Guide Climate Resilience Funding
Governor Josh Green has established the Green Fee Advisory Council to guide the allocation of funds from the newly enacted “Green Fee,” which aims to bolster Hawaiʻi's environmental resilience and promote sustainable tourism.
Read full article →Infrastructure & Transportation
Rail Construction Challenges Local Businesses in Honolulu
The ongoing rail construction in Honolulu is significantly impacting local businesses, particularly due to lane closures on Nimitz Highway, with a recent survey indicating that 35% of commuters plan to change their route. The extended five-year timeline presents a long-term challenge, necessitating proactive strategies from businesses, policymakers, and the local government to mitigate disruptions and support local economic health.
Read full article →Winged Ferry That Glides Like a Pelican Could Change Travel and Defense in Hawaii
A new "seaglider" ferry, developed by Regent Craft, promises to revolutionize travel, with planned routes in Hawaii. This technology offers the potential for faster and more efficient transportation for both commercial and military purposes.
Read full article →Sustainability & Resources
Hawaiian Council Sets Sights on Energy Independence and Sustainable Future
The Hawaiian Council's new initiative, led by Josh Stanbro, aims to achieve energy independence, climate resilience, and economic security for Hawaii, presenting both challenges and opportunities for the state's business community.
Read full article →End of EPA Solar Program to Affect Thousands in Hawaii
The termination of the EPA's "Solar for All" program will affect 2,000 low-to-moderate income households in Hawaii and hinder the state's renewable energy targets, impacting the solar industry, consumers, and the overall clean energy transition.
Read full article →