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Products: Hawaii's Economy

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UHERO State Forecast Update: Tourism Shines, Construction Clouds Lifting

 

Hawaii’s tourism juggernaut powers onward, but growth elsewhere remains elusive. Broader—and a bit stronger—expansion is in the pipeline.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

 

 

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Economic Impact of the NELHA Tenants

 The Natural Energy Laboratory Hawaii Authority (NELHA) contracted the University of Hawaii Economic Research Organization (UHERO) to estimate its economic impact on the State of Hawaii. NELHA currently accommodates 41 tenants ranging from companies bottling deep sea water to solar and biofuel companies. These tenants pay close to $4 million in rent, royalties and pass through expense directly to NELHA. In addition, they employ hundreds of people, purchase goods and services from local businesses, and invest in capital improvements at NELHA.

PROJECT Paper


Foundations for Hawai‘i’s Green Economy: Economic Trends in Hawai‘i Agriculture, Energy, and Natural Resource Management

It is clear from previous studies that Hawai‘i’s natural capital is highly valued and should be managed accordingly. For example, Kaiser et al. (1999) estimate that the Ko‘olau watershed provides forest benefits valued between $7.4 and $ 14 billion, comprised of water resource benefits ($4,736-­‐9,156 million), species habitat benefits ($487-­‐1,434 million), biodiversity benefits ($0.67-­‐5.5 million), subsistence benefits ($34.7-­‐131 million), hunting related benefits ($62.8-­‐237 million), aesthetic values ($1,040-­‐3,070 million), commercial harvest ($0.6-­‐2.4 million), and ecotourism ($1,000-­‐2,980 million). Hawai‘i’s coral reefs alone are estimated to generate at least $10 billion in present value, or $360 million per annum (Cesar and van Beukering, 2004). Another recent study considering the value to all U.S. households finds that increasing the current size of marine protected areas in Hawai‘i from 1% to 25% and restoring five acres of coral reefs annually would generate $34 billion per year (Bishop et al., 2011).2 While many studies that place value on Hawai‘i’s natural resources have been undertaken in recent years, little is known about the economic impacts generated by agencies charged with protecting and managing these important resources in Hawai‘i. To that end, an online survey of natural resource managers in Hawai‘i was conducted, and the results are summarized in section 6 of this report.

PROJECT REPORT


Foundations for Hawai‘i’s Green Economy: Economic Trends in Hawai‘i Agriculture, Energy, and Natural Resource Management

This report provides the first comparison of standard economic indicators for three sectors that are key to future sustainability in Hawai‘i - renewable energy, agriculture and natural resource management. Economic information has long been collected for many sectors in Hawai‘i, including agriculture and energy, but no systematic surveys have been conducted on the NRM sector to date. With support from The Nature Conservancy and Hau‘oli Mau Loa Foundation, the University of Hawai‘i Economic Research Organization was tasked with characterizing this important part of Hawai‘i’s economy, in terms of number and types of jobs, salaries, and annual expenditures.

PRoject PAPER


Hawaii Construction Forecast: Construction Edging Toward Recovery

Construction has yet to turn the corner in Hawaii, but a pickup is now more clearly in sight. Single-family home construction languishes, but new high-rise condos, retail, and resort-related development will boost non-residential building. And legal challenges aside, rail construction is poised to begin in earnest as this year progresses.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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UHERO State Forecast Update: Some Improvement, After Disappointing 2011

Hawaii’s stop-start recovery continued in the fourth quarter. We are a bit more optimistic about prospects for 2012.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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UHERO Asia-Pacific Forecast: Hawaii in the Asia-Pacific Century

The Asia-Pacific region will see further incremental slowing in the near term, due to headwinds from struggling Western economies. Longer term, several key trends will shape the pattern of growth in the region, including lingering aftereffects of the Japanese quake, population aging in Korea and other Asian economies, the vulnerability of emerging countries to developed economy shocks, and the challenge China faces in moving to a consumer society. These issues will have implications for Hawaii tourism and for local policymaking in coming years.

This report represents the first UHERO Asia-Pacific Forecast, a regionally focused report that replaces the broader Global Forecast we have prepared in past years. The Asia-Pacific Forecast reviews conditions and prospects for key countries within the region. For this maiden edition, we have also enlisted the help of an international team of scholars to provide expert analysis of key longer-term issues for regional economies and Hawaii.

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UHERO State Forecast Update: Hawaii in Pause Mode

Hawaii’s recovery pace has slowed to a standstill this year. Despite downside risks from the US and abroad, we expect modest gains for the state economy in 2012.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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Annual Hawaii Forecast: With Hawaii Growth Slow,
US Risk Looms Large

Against a backdrop of local slowing and deteriorating conditions in the US and global economy, Hawaii will see only modest growth in 2012. The strongest part of the tourism recovery is now behind us, and further industry gains will be more incremental. Job growth will continue to occur in many areas of the economy, but not at a pace that will rapidly alleviate unemployment. Somewhat better, but still measured, growth will occur in 2013-2014. While we are not forecasting a US recession, American economic and political conditions represent a substantial downside risk for Hawaii.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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KITV Project Economy: UH Economist Discusses Latest Unemployment Numbers In Hawaii

UHERO Research Fellow, Sumner LaCroix discusses

  • What happened in the stock market this week?
  • What changes did we see in jobs and unemployment locally?
  • What are the major challenges for the Social Security Administration?

watch Q / A


KITV Project Economy: Breaking Down The Debt Ceiling

Posted July 29, 2011 | Categories: Hawaii's Economy, Media

UHERO Executive Director Dr. Carl Bonham discusses:

  • What has been happening in congress to address the debt ceiling and the nation's finance?
  • Will the Gang of Six plan raise the debt ceiling?
  • Will the plan voted on by the house solve the debt ceiling crisis?

watch blog analysis


KITV Project Economy: State Of Our Economy

Posted June 24, 2011 | Categories: Hawaii's Economy, Media

UHERO Executive Director Dr. Carl Bonham discusses the impact of several different factors on the current state of the economy.

watch


UHERO Brief: The Lag in Employment Recovery

While US real GDP bottomed out in the second quarter of 2009 and is now back at its pre-recession level, non-farm payrolls only started picking up at the beginning of 2010, and they remain far below their previous peak. What explains the existence of this lag?

This brief appeared in the most recent UHERO County Forecast Report and is being made available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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UHERO County Forecast: Uneven Recovery Continues

Hawaii's county economies turned the corner in 2010, led by rapidly improving visitor sectors. The recovery will broaden and deepen in 2011, but performance will be uneven.

A summary of this forecast is available as a service to the public. For more detailed analysis, subscribe to UHERO's Forecast Project.

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UHERO State Forecast Update: Japanese Quake Won't Derail Recovery

The Japanese earthquake has led to a pause in visitor industry growth, but unless we see a further spike in oil prices, Hawaii's economic recovery will continue to build strength.

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