Research & Economic Analysis

Economic conditions were mixed across the counties in the fourth quarter of 2024. Maui County saw a decrease in unemployment and increases in jobs and visitor arrivals as the county continues to recover from the impacts of the August 8, 2023 wildfires. Honolulu, Hawai‘i and Kaua‘i counties experienced higher unemployment in the fourth quarter of 2024 compared to the same quarter in 2023. Honolulu County saw gains in jobs and visitor arrivals while Hawai‘i and Kaua‘i counties saw decreases in jobs and visitor arrivals. Private building permit values increased for all counties except Kaua‘i County (only residential permits available) in the fourth quarter of 2024 compared to the same quarter in 2023.

In the fourth quarter of 2024, the unemployment rate in Honolulu increased 0.3 percentage point from 2.5 percent to 2.8 percent; the unemployment rate in Hawai‘i County increased 0.6 percentage point from 2.5 percent to 3.1 percent; and the unemployment rate in Kaua‘i County increased 0.4 percentage point from 2.3 percent to 2.7 percent. The unemployment rate in Maui County decreased 3.1 percentage points from 6.7 percent to 3.6 percent.

In the fourth quarter of 2024, Honolulu added 10,200 or 2.2 percent of non-agricultural wage and salary jobs compared to the same quarter of 2023. The number of jobs increased the most in Construction, which added 3,300 jobs or 11.9 percent. This was followed by Food Services & Drinking Places, which added 1,900 jobs or 4.1 percent, Health Care & Social Assistance which added 1,800 jobs or 3.1 percent, Professional & Business Services which added 1,500 jobs or 2.7 percent, and Private Educational Services which added 600 jobs or 5.0 percent in the quarter. The Government sector added 1,900 jobs or 2.0 percent in the quarter.

In the fourth quarter of 2024, Hawai‘i County lost 400 or 0.6 percent of non-agricultural wage and salary jobs over the same quarter of 2023. The number of jobs decreased the most in Construction, which lost 300 jobs or 7.7 percent and Financial Activities, which lost 200 jobs or 8.0 percent. The Government sector added 200 jobs or 1.3 percent in the quarter.

Maui County gained 1,800 jobs or 2.6 percent of non-agricultural wage and salary jobs in the fourth quarter of 2024 over the same quarter of 2023. The number of jobs increased the most in Construction which added 700 jobs or 15.2 percent, followed by Arts, Entertainment & Recreation, which added 400 jobs or 22.2 percent and Accommodation which added 400 jobs or 3.9 percent. The Government sector jobs lost 100 jobs or 1.1 percent in the quarter.

Kaua‘i County lost 400 jobs or 1.2 percent in non-agricultural wage and salary jobs in the fourth quarter of 2024 over the same quarter of 2023. The number of jobs decreased the most in Construction, which lost 200 jobs or 9.5 percent and Arts, Entertainment & Recreation, which lost 200 jobs or 18.2 percent. Manufacturing, Retail Trade, and Health Care & Social Assistance each lost 100 jobs while Transportation, Warehousing, Utilities; Food Services & Drinking Places; and Other Services each gained 100 jobs. The Government sector added 200 jobs or 4.1 percent in the quarter.

In the fourth quarter of 2024, visitor arrivals by air increased in Honolulu and Maui County but decreased in Hawai‘i County and Kaua‘i County. Visitor arrivals by air increased 3.2 percent in Honolulu and 22.2 percent in Maui County. Visitor arrivals by air decreased 1.1 percent in Hawai‘i County, and 1.7 percent in Kaua‘i compared to the same quarter of 2023.

In the fourth quarter of 2024, the value of private building permits increased in all counties except Kaua‘i County. In the fourth quarter of 2024, private building permits increased $615.4 million or 135.9 percent in Honolulu, $111.1 million or 50.1 percent in Hawai‘i County, and $78.2 million or 43.5 percent Maui County. In Kaua‘i County, private building permits (only residential available) decreased $14.9 million or 31.5 percent from the same quarter of 2023.