Research & Economic Analysis

Note: The Federal Shutdown ended on November 12th but much of the data required to update this section was not available at the time of publication. This section will be updated once the data is released.

Maui County continued to show signs of recovery based on available third quarter 2025 data. Visitor arrivals increased compared to the same quarter in 2024. Maui County also saw increases in private building permit value. Honolulu saw a decrease in visitor arrivals and private building permit value. Hawai‘i County saw a slight decrease in visitor arrivals and an increase in private building permit value compared to the same quarter in 2024. Kaua‘i saw an increase in visitor arrivals.

In the second quarter of 2025, the unemployment rate remained the same at 2.6 percent in Honolulu; decreased 0.1 of a percentage point from 2.6 percent to 2.5 percent in Kaua‘i; and increased 0.1 of a percentage point from 3.1 percent to 3.2 percent in Hawai‘i County. Maui County’s unemployment rate decreased 1.2 percentage points from 4.3 percent to 3.1 percent.

In the second quarter of 2025, Honolulu added 11,100 or 2.4 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 3,000 jobs or 5.3 percent; followed by Food Services & Drinking Places, which added 2,200 jobs or 4.8 percent; and Construction, which added 1,300 jobs or 4.6 percent. The Government sector added 600 jobs or 0.6 percent, with the Federal Government losing 1,100 jobs or 3.4 percent. State Government gained 1,500 jobs or 2.8 percent and Local Government gained 100 jobs or 0.8% percent.

In the second quarter of 2025, Hawai‘i County added 1,200 or 1.7 percent of non-agricultural wage and salary jobs over the same quarter of 2024. The number of jobs increased the most in Health Care & Social Assistance, which added 200 jobs or 3.8 percent, and Arts, Entertainment & Recreation, which also added 200 jobs or 11.1 percent. Wholesale Trade, Professional & Business Services, Food Service & Drinking Places, and Other Services, each added 100 jobs. The Government sector added 500 jobs or 3.3 percent.

Maui County gained 1,700 or 2.3 percent of non-agricultural wage and salary jobs in the second quarter of 2025 over the same quarter of 2024. The largest increase in the number of jobs was in Food Services & Drinking Places, which gained 700 jobs or 8.0 percent; followed by Accommodation, which added 500 jobs or 4.7 percent; and Health Care & Social Assistance, which added 300 jobs or 3.7 percent. The Government sector added 100 jobs or 1.1 percent.

Kaua‘i gained 900 non-agricultural wage and salary jobs or 2.8 percent in the second quarter of 2025 compared to the same quarter of 2024. The number of jobs increased the most in Food Services & Drinking Places, which added 400 jobs or 9.3 percent, followed by Other Services, which added 200 jobs or 18.2 percent, and Professional & Business Services which also added 200 jobs or 7.1 percent. The Government sector added 100 jobs or 2.0 percent in the quarter.

In the third quarter of 2025, visitor arrivals by air increased in Kaua‘i and Maui County but decreased in Honolulu and Hawai‘i County. Visitor arrivals increased 3.6 percent in Maui County and increased 3.3 percent in Kaua‘i. Visitor arrivals decreased 5.1 percent in Honolulu and decreased 0.2 percent in Hawai‘i County compared to the same quarter in 2024.

In the third quarter of 2025, the value of private building permits decreased in Honolulu but increased in Hawai‘i County and Maui County. In the third quarter of 2025, private building permits decreased $386.6 million or 52.4 percent in Honolulu, increased $65.5 million or 42.0 percent in Hawai‘i County, and increased $85.2 million or 77.5 percent in Maui County compared to the same quarter in 2024.