Department of Business, Economic Development & Tourism

Welcome to the DBEDT READ 2025 Q1 Newsletter, which introduces the latest data and research produced by the Research and Economic Analysis Division (READ) since October 2024. This issue provides an overview of Hawaii’s economic conditions, labor climate, and tourism activity, with links to detailed reports and analyses.

At DBEDT, we remain committed to expanding and diversifying Hawaii’s economy, reversing the brain drain and growing our tax base. Hawaii recently received federal designation as the nation’s first statewide Economic Development District – more details about what that means are included in this issue. Together, we can build a stronger, more sustainable Hawaii for future generations.

This year, DBEDT remained steadfast in supporting strategic projects, policies, and infrastructure that advance Hawaii’s renewable energy goals. We also prioritized innovation, fostering growth in technology-driven enterprises and startups that diversify our economy and inspire entrepreneurship. Please check out our December 2024 issue to learn more.

In this newsletter, we’re proud to share highlights of DBEDT’s ongoing work – from engaging with local farmers and entrepreneurs, emphasizing our commitment to agriculture and food innovation, to creating opportunities that open doors for future international partnerships – together, these efforts reflect our vision for a resilient and innovative Hawaii.

Welcome to this quarter’s newsletter from the Research and Economic Analysis Division of DBEDT. In addition to our regular updates on tourism and labor statistics, this issue includes the quarterly economic forecast as well as special reports that provide insights on tax credits for research activities and an in-depth profile of Oahu’s North Shore, highlighting demographics, business trends, and visitor statistics.

In this issue, we spotlight DBEDT’s efforts to support our local economy and communities — from strengthening ties with Japan to programs making homeownership more accessible, these initiatives reflect our focus on resiliency and sustainability for the future of our state.

After a busy and productive summer, we remain committed to supporting our businesses and communities as we continue to build a dynamic and resilient future for Hawaii. In this September issue of our newsletter, we focus on Maui’s economic recovery, strengthening international relations, helping small businesses, new energy efficiency programs, and more.

The report provides concise statistical information and analyses on Labor, Income and Prices, Taxes, Tourism, Construction, and other indicators, as well as an overview of the State of Hawaii and the four counties.

As we reflect on the one-year anniversary of the devastating Maui wildfires, we would like to acknowledge the incredible resilience shown by our community and share how DBEDT has been supporting recovery efforts. From providing housing relief through the Hale O Laie interim housing project to supporting local businesses through grants and resources, we continue to work on long-term economic revitalization, focusing on innovation, entrepreneurship, and sustainability.

In this issue, READ continues to provide regular updates on tourism and labor statistics, alongside new insights into various aspects of Hawaii's economy and social landscape. The latest reports cover topics such as population and economic projections for 2050, consumer spending trends in Honolulu, housing overcrowding, and Hawaii’s Genuine Progress Indicator.