Recent developments bring both promise and peril for Hawaii. Tourism prospects are positive, despite the delayed Japanese market recovery. Construction activity will remain high, and
Our Hawaiʻi outlook continues to see economic slowing but no recession. While international tourism will continue to recover, domestic travel will soften as the US
The global outlook continues to darken, but prospects for Hawaii remain largely unchanged from our last report. Rising interest rates, dwindling pandemic era savings, and
The economic horizon has darkened since our last forecast. The global economy has slowed sharply, and the US is headed for a mild recession in
Hawaii’s recovery has resumed now that the Delta and Omicron waves are behind us. Once the Asian COVID-19 wave recedes, the long-awaited return of international
The two COVID-19 waves since last summer caused a pullback in Hawaii tourism and a pause in labor market recovery. Visitor arrivals are now picking
Economic recovery resumed with the end of Hawaii’s COVID-19 wave. Now Omicron is a new threat. Renewed international travel restrictions have reduced the near-term visitor
Hawaii’s recovery has experienced a setback with the recent surge in COVID-19. Record virus numbers and preventive policy responses have caused an abrupt tourism pullback
Economic conditions in Hawaii are improving. The dominant US visitor market has outperformed expectations, and built-up savings and pent-up demand will drive mainland arrivals to
Hawaii is struggling to emerge from the COVID-19 downturn, but the recovery is poised to accelerate. Falling virus counts and vaccination progress set the stage
The Hawaii economy began to recover from the COVID-19 downturn by the end of the second quarter, but subsequent global waves of the pandemic have
Hawaii’s COVID-19 resurgence put the brakes on a very tentative economic recovery. The further delay of the visitor industry restart and renewed strict social distancing
The novel coronavirus crisis hit Hawaii with devastating effect. The abrupt economic shut-down, while successful in limiting the virus’s spread, has produced by far our
This is UHERO’s second interim forecast update to address dramatic recent developments associated with the novel coronavirus pandemic. Much has changed since the interim forecast
The spread of the novel coronavirus and recent visitor falloff lead us to lower sharply our outlook for the Hawaii economy. In the baseline forecast,