Hawaii’s economy will continue to grow, but at a slower pace than in past years. Maui rebuilding and the incremental return of international travelers will support tourism, helping to offset a moderate pullback in the US mainland market. Construction will continue to be a source of strength, even as overall job and income growth decelerate. Reducing inflation in the Islands will take a bit longer than expected. Growth prospects for Hawaii’s counties differ. Maui is set for an extended recovery period this decade, while population slowing will reduce future growth to varying degrees across the counties.
UHERO Executive Director Carl Bonham provides a summary of the 2024 first quarter forecast report in this episode of “UHERO Focus.”
