Tuesday, January 19, 2021
Hawai'i Free Press

Current Articles | Archives

Saturday, December 21, 2019
UHERO: Hawaii economy enters soft patch
By UHERO @ 1:00 AM :: 1669 Views :: Economy, Hawaii Statistics, Cost of Living

UHERO forecast: External factors impacting Hawai‘i economy

From UH News, December 20, 2019

The newest University of Hawai’i Economic Research Organization (UHERO) report focusing on the outlook for key economies beyond Hawai’i’s shores found that issues outside of the state are restraining areas of the local economy.

UHERO reports that Hawai’i’s economy has entered a soft patch. Falling visitor spending and a declining population have suppressed demand and halted growth in nonfarm payrolls. However, the construction industry is holding up, and the number of visitor arrivals continues to grow.

Despite the fluctuations in the economy globally, UHERO expects an improvement in the external environment which could also benefit Hawai’i’s economy in future years. UHERO reports how the following factors have impacted the local economy.


Visitor arrivals are heading for another record, set to exceed 10 million this year for the first time. While arrivals will continue to grow at a modest pace, real visitor spending will break even at best next year.

The local hotel industry is performing better than the national average. Airline capacity is also rising on both inter-island and mainland routes, following the entry of Southwest Airlines.

Despite the decline in payrolls, the unemployment rate remains low by historical standards and labor income growth remains healthy. Relatively stable oil prices and moderately rising shelter costs will keep overall inflation subdued.


The state’s population has been declining for the past three years, in part because of outward migration.

The global economy has been dragged down by the trade war and softness in a number of large countries, resulting in the weakest growth since the global financial crisis.

Japan’s economy has taken a hit from global trade and another from the November consumption tax hike. Trade woes are also weighing heavily on Korea and many emerging Asian economies.

Risks of a more negative downside have grown, including global weakening, ongoing trade disputes and political uncertainty.

For a full public summary go to the University of Hawai’i Economic Research Organization website and for a detailed analysis, subscribe to UHERO’s Forecast Project.

PDF: Executive Summary

SA: State economy will improve in 2020, UHERO report says

CB: Economists: High Living Costs Continue Driving Hawaii Residents Away

PBN: Hawaii's economy may be brighter in 2020, but not much, UHERO report says 

SOR: The trends affecting economic growth in Hawaii


TEXT "follow HawaiiFreePress" to 40404

Register to Vote


808 Silent Majority

ACA Signups Hawaii


Alliance Defending Freedom

Aloha Pregnancy Care Center

American Council of Trustees and Alumni


Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Ballotpedia Hawaii

Better Hawaii

Blaisdell Memorial Project

Broken Trust

Build More Hawaiian Homes Working Group


Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

Coffee Break


DVids Hawaii

E Hana Kakou Kelii Akina


Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute


Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation



Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

I Vote Hawaii

If Hawaii News

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes


Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group


Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii



National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Hawaiian

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii


OHA Lies

Opt Out Today


Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons

Pro-GMO Hawaii



Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii


Sink the Jones Act

Statehood for Guam

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu


West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii