Research & Economic Analysis

Maui County continued to experience the impacts of the August 8, 2023 wildfires through the first quarter of 2024. Maui County saw continued decreases in visitor arrivals and lost jobs, and faced a higher unemployment rate in the first quarter of 2024 compared to the same quarter in 2023. Honolulu and Kauai counties saw increases in visitor arrivals, gained jobs, and experienced lower unemployment rates during the same quarter, while Hawaii County gained jobs and experienced lower unemployment but saw lower visitor arrivals. The value of private building permits increased in Honolulu and Kauai counties but decreased in Hawaii and Maui counties in the first quarter of 2024 compared to the same quarter in 2023.

In the first quarter of 2024, the unemployment rate in Honolulu decreased 0.3 of a percentage point from 2.9 percent to 2.6 percent; the unemployment rate in Kauai County decreased 0.4 of a percentage point from 2.8 percent to 2.4 percent; and the unemployment rate in Hawaii County decreased 0.4 of a percentage point from 3.2 percent to 2.8 percent. The unemployment rate in Maui County increased 2.4 percentage points from 3.0 percent to 5.4 percent.

In the first quarter of 2024, Honolulu added 7,100 or 1.6 percent non-agricultural wage and salary jobs compared to the same quarter of 2023. The number of jobs increased the most in the Government sector, which added 2,600 jobs or 2.8 percent; followed by Natural Resources, Mining, and Construction which added 2,500 jobs or 9.3 percent; Health Care & Social Assistance, which added 1,800 jobs or 3.3 percent; Food Services and Drinking Places which added 1,700 jobs or 3.8 percent; and Accommodation, which added 1,000 jobs or 5.9 percent. The Information sector lost 2,400 jobs or 29.6 percent in the quarter.

In the first quarter of 2024, Hawaii County added 1,300 or 1.9 percent of non-agricultural wage and salary jobs over the same quarter of 2023. The number of jobs increased the most in Government, which added 400 jobs or 2.7 percent and Accommodation, which added 400 jobs or 6.5 percent, followed by Professional & Business Services which added 200 jobs or 3.3 percent in the quarter.

Maui County lost 5,400 jobs or a 7.1 percent decrease in the first quarter of 2024 over the same quarter of 2023. The number of jobs decreased the most in Food Services and Drinking Places which lost 2,000 jobs or 20.2 percent, followed by Professional & Business Services which lost 1,200 jobs or 16.9 percent, Accommodation which lost 800 jobs or 7.0 percent and Retail Trade which lost 800 jobs or 8.7 percent. The Government sector added 1,200 jobs or 14.0 percent in the quarter.

Kauai County added 500 jobs or a 1.6 percent increase in the first quarter of 2024 over the same quarter of 2023. The number of jobs increased the most in Food Services & Drinking Places which added 200 jobs or 4.9 percent and Accommodation which added 200 jobs or 4.8 percent. Natural Resources, Mining & Construction; Professional & Business Services; and Other Services each added 100 jobs. The number of Government sector jobs was unchanged in the quarter.

In the first quarter of 2024, visitor arrivals by air increased in Honolulu County and Kauai County but decreased in Maui County and Hawaii County. Visitor arrivals by air increased 5.4 percent in Honolulu County and 0.4 percent in Kauai County. Visitor arrivals decreased 22.4 percent in Maui County and 1.0 percent in Hawaii County compared to the same quarter of 2023.

In the first quarter of 2024, the value of private building permits increased in Honolulu County and Kaui County but decreased in Maui County and Hawaii County. In the first quarter of 2024, private building permits increased $231.2 million or 62.0 percent in Honolulu, increased $9.9 million or 29.2 percent in Kauai (only residential available), decreased $15.0 million or 6.8 percent in Hawaii County, and decreased $9.5 million or 5.8 percent in Maui County from the same quarter of the previous year.