Research & Economic Analysis

Economic conditions were mixed across the counties in the fourth quarter of 2025. All counties added jobs compared to the same quarter in 2024. Based on third quarter of 2025 (latest quarter available), all counties also saw decreases in the unemployment rates compared to the same period of the previous year. In the fourth quarter of 2025, visitor arrivals by air increased for Kaua‘i, Maui and Hawai‘i counties but decreased in Honolulu County. The value of private building permits decreased across all counties in the quarter (Kaua‘i data for residential permits only).

Due to the lapse in federal appropriations, data for the fourth quarter of 2025 unemployment rate is not available. In the third quarter of 2025, the unemployment rate fell in all counties compared to the same quarter of 2024. The unemployment rate fell 0.6 of a percentage point from 3.0 percent to 2.4 percent in Honolulu; decreased 0.5 of a percentage point from 2.8 percent to 2.3 percent in Kaua‘i; decreased 0.8 of a percentage point from 3.6 percent to 2.8 percent in Hawai‘i County, and decreased 1.4 percentage points from 4.1 percent to 2.7 percent in Maui County.

In the fourth quarter of 2025, Honolulu added 7,100 or 1.5 percent non-agricultural wage and salary jobs compared to the same quarter of 2024. The number of jobs increased the most in Health Care & Social Assistance, which added 3,300 jobs or 5.7 percent; followed by Natural Resources, Mining, and Construction, which added 2,600 jobs or 9.3 percent, and Food Services & Drinking Places, which added 2,100 jobs or 4.5 percent. The Government sector lost 2,900 jobs or 2.9 percent, with the Federal Government losing 3,300 jobs or 10.0 percent. State Government gained 300 jobs or 0.6 percent, and Local Government did not add any jobs compared to the same period in 2024.

In the fourth quarter of 2025, Hawai‘i County added 500 or 0.7 percent of non-agricultural wage and salary jobs over the same quarter of 2024. The number of jobs increased the most in Arts, Entertainment & Recreation, which added 400 jobs or 23.5 percent. Wholesale Trade, Retail Trade,
and Other Services each added 100 jobs. The Government sector did not add any jobs compared to the fourth quarter of 2024.

Maui County gained 2,100 or 2.8 percent of non-agricultural wage and salary jobs in the fourth quarter of 2025 over the same quarter of 2024. The largest increase in the number of jobs was in Accommodation, which gained 700 jobs or 6.7 percent; followed by Natural Resources, Mining and Construction, which added 500 jobs or 10.4 percent; and Health Care & Social Assistance and Food Services & Drinking Places, which each added 400 jobs or 4.8 and 4.4 percent respectively. The Government sector added 100 jobs or 1.1 percent.

Kaua‘i gained 500 non-agricultural wage and salary jobs or 1.5 percent in the fourth quarter of 2025 compared to the same quarter of 2024. The number of jobs increased the most in Arts, Entertainment, and Recreation, which added 200 jobs or 16.7 percent. Food Services & Drinking Places and Other Services each added 100 jobs or 2.2 and 8.3 percent respectively. The Government sector added 100 jobs or 2.0 percent in the quarter.

In the fourth quarter of 2025, visitor arrivals by air increased in Kaua‘i, Maui and Hawai‘i Counties but decreased in Honolulu County. Visitor arrivals increased by 2.7 percent in Maui County, 2.6 percent in Kaua‘i County and 0.3 percent in Hawai‘i County. However, Honolulu County visitor arrivals decreased by 4.0 percent compared to the same quarter in 2024.

In the fourth quarter of 2025, the value of private building permits decreased in all counties. In the fourth quarter of 2025, private building permits decreased $688.4 million or 64.5 percent in Honolulu, decreased $158.7 million or 47.7 percent in Hawai‘i County, and decreased $182.4 million or 70.8 percent in Maui County compared to the same quarter in 2024. Private building permits (residential only) decreased by 48.4 percent in Kaua‘i compared to the same quarter of 2024.