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Hawaii’s Economy Is Essentially Recession-Proof, State Says

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Hawaii’s Economy Is Essentially Recession-Proof, State Says


Hawaii’s Division of Enterprise, Financial Improvement and Tourism (DBEDT) launched its fourth-quarter ‘2022 Statistical and Financial Report’ on Wednesday, revealing insights into the tourism part of the state’s current and forecasted financial situation.

Astonishingly, it claims that the Aloha State stands to avoid any fallout from the financial recession subsequent 12 months that’s been projected for the U.S. in 2023.

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Regardless of the worldwide financial turndown, The DBEDT report says that the present and persevering with energy of Hawaii’s home tourism demand, mixed with the gradual return of worldwide guests, will most definitely defend it from the adverse impacts of any impending recession.

In its fourth-quarter forecasting, DBEDT saved the state’s financial progress projections for the remainder of 2022 and 2023 that have been made within the third quarter unchanged, regardless of a downward revision for the general U.S. economic system. Whereas U.S. financial progress in 2022 is predicted to return in at 1.8 p.c and simply 0.2 p.c in 2023, Hawaii’s progress is predicted to register 2.6 p.c for 2022 and 1.7 p.c for 2023.

“Because the final DBEDT financial forecast in August of this 12 months, the state’s economic system has remained agency, with enhancements in main indicators,” stated DBEDT Director Mike McCartney.

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Aerial shot of Hawaii’s Waikiki Seashore. (Photograph through jhorrocks / iStock / Getty Photos Plus)

Hawaii’s Journey Sector Restoration

As 2022 involves a detailed, tourism arrivals to Massive Island, Maui and Kauai have already recovered to 95 p.c of what they have been in pre-pandemic 2019, exceeding all earlier expectations. Beat of Hawaii noticed that solely Oahu has been sluggish to see a rebound to normalcy, seeing lower than 80 p.c of 2019 ranges. About half of Oahu’s vacationer arrivals traditionally come from different international locations, and worldwide customer numbers stay low.

Within the first 10 months of 2022, the state welcomed 7.6 million whole vacationer arrivals, equal to 88.6 p.c of customer volumes seen throughout the identical interval in 2019. There have been 13.8 p.c extra U.S. guests than in the identical interval of 2019, however worldwide arrivals solely got here in at 38.1 p.c of what they have been in that pre-pandemic period.

Whereas arrival numbers are nonetheless barely shy of the pre-pandemic norm, vacationer spending within the first 10 months of 2022 truly grew by 8.5 p.c over the identical interval in 2019. It’s anticipated that customer spending in December and January can also be prone to be at or close to report highs.

The state is predicting that, by the top of this month, Hawaii’s total customer depend will come to 9.3 million, as in contrast with the ten.3 million recorded in 2019.

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Hawaii

Hawaii sees more snow than New York City this fall

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Hawaii sees more snow than New York City this fall


MAUNA KEA, HI—An early-season snowstorm blasted the Northeast this week, dropping a foot of snow in some areas. This was the Northeast region’s first snowstorm of the season, but Hawaii has already had a few encounters with fresh powder this fall. 

Winter weather arrived right on time at Hawaii’s Mauna Kea summit, home to astronomy observatory facilities from around the world. According to the Maunakea Visitor Information Station, this year, the first snow of the season fell at the 14,000-foot summit on Oct. 28.

WHICH IS THE SNOWIEST MONTH OF THE YEAR?

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Unlike the tropical climate at lower elevations on the Big Island, Mauna Kea’s elevation means it experiences a different climate, including freezing temperatures and significant snowfall.

Hawaii’s wet season runs from October through April, during which snow is a familiar sight at the summit of Mauna Kea. 

Back on the mainland, a winter storm arrived a week ahead of Thanksgiving and, according to the FOX Forecast Center, dropped more than a foot of snow in parts of Upstate New York and northeastern Pennsylvania. 

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Meanwhile, New York City has yet to see snow. But it’s still early for the Big Apple. The first measurable snow of one inch or more in New York City happens on average around Dec. 13.⁠



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Deadspin | No. 4 Auburn, No. 5 Iowa State test mettle in Hawaii

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Deadspin | No. 4 Auburn, No. 5 Iowa State test mettle in Hawaii


Nov 9, 2024; Houston, Texas, USA; Auburn Tigers forward Johni Broome (4) celebrates with head coach Bruce Pearl after the game against the Houston Cougars at Toyota Center. Mandatory Credit: Troy Taormina-Imagn Images

No. 4 Auburn and No. 5 Iowa State will meet Monday in the Maui Invitational in Lahaina, Hawaii, in a clash of college basketball powers that has more the look of a tournament championship game than that of a first-round contest.

While the high-level matchup is unusual for the opening round, it does give the Tigers and Cyclones a chance to see how they stack up among the NCAA elite.

And although Iowa State (3-0) has hammered three mid-major teams, Auburn (4-0) already owns a measuring-stick victory at then-No. 4 Houston on Nov. 9.

Now comes more challenging competition as the tournament includes No. 2 UConn and No. 10 North Carolina, as well as three other teams that arrive in Maui with undefeated records — Memphis, Colorado and Dayton.

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“The next four games are against Elite 8-caliber teams,” Auburn coach Bruce Pearl said, referring to the tournament games as well as including a Dec. 4 date at Duke. “It’ll be a true test and a true measure of where we’re at.”

The Tigers are currently at a good place. In addition to their win over Houston, they’ve beaten up on three mid-majors.

Johni Broome made 13 of 17 shots to finish with 30 points in Auburn’s 102-69 victory over North Alabama on Monday. He also pulled down 17 rebounds, while Dylan Cardwell made 5 of 6 shots to finish with 12 points.

“Our bigs shot an incredible percentage,” Pearl said. “Johni and Dylan are two of the best centers in college basketball and we’ve got both of them.”

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Meanwhile, the rest of the Tigers’ starters scored in double figures. Denver Jones delivered 13 points and nine assists in the win.

Playing three games in three days will be a big change for Iowa State, which has been one of the least active teams in Division I. Its only three games have come on the three Mondays in November.

“We’ve had these experiences in years past. Last year it didn’t go as well,” Iowa State coach T.J. Otzelberger said, referring to last November when the Cyclones lost two of three games in the ESPN Events Invitational.

“Yes, you want to win every game, but last year we had a great season and we weren’t as good at this point,” Otzelberger said of his team, which went 29-8 and reached the Sweet 16 in the NCAA Tournament.

With five double-digit scorers, the Cyclones have shown balance, led by backcourt players Curtis Jones (15 points per game), Tamin Lipsey (13.7) and Keshon Gilbert (12.3).

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St. Mary’s transfer Joshua Jefferson recorded his first double-double for his new team by collecting 16 points and 10 rebounds in Iowa State’s 87-52 victory over IU Indianapolis last Monday. He made all seven of his shots from the floor.

On Monday night, the Cyclones face a team that is “playing as well or better than anyone in the country,” Otzelberger said.

“They’re a tremendous team. They pressure defensively, really get after you. They’ve got tremendous depth. They try to wear you down,” Otzelberger said. “In the Houston game, Houston had the lead early and that’s what happened.”

–Field Level Media



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Proposed empty homes tax gets exemptions added for Hawaii residents as final vote nears

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Proposed empty homes tax gets exemptions added for Hawaii residents as final vote nears


HONOLULU (HawaiiNewsNow) – A bill aimed at cracking down on vacant homes on Oahu by increasing taxes is expected to face a final vote at the Honolulu City Council in the coming weeks.

It comes after the proposal has been revised several times because of questions and concerns from the community.

Bill 46 would add an incremental 3% yearly tax for vacant dwellings on a property that would be rolled out over three years.

Some owners could end up paying tens of thousands of dollars more in property taxes, but a recent change to the measure adds exemptions for Hawaii residents.

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The 2020 U.S. Census reported roughly 35,000 unoccupied housing units on Oahu.

Council Chair Tommy Waters, who introduced the bill, said it’s meant to get people to rent out or otherwise free up their unused units.

Under the measure’s current language, the higher tax would be placed on homes that are unoccupied for six months.

“We’re trying to get creative to figure out how we can get our local people to stay here. We can’t build our way out of this solution,” said Waters.

This week, the council’s budget committee narrowly passed the bill in a 3 to 2 vote after making several changes.

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One change would allow Hawaii residents to request an exemption for a second home they own.

To reduce administrative costs that would likely come with a new tax, the bill proposed it to operate under the already running property tax system by adding a new class.

There’s also changes to the bill’s language to comply with both with state and federal law to try and avoid potential lawsuits.

But still some residents still believe it will do more harm than good.

“Trying to enforce this and make sure that it’s equitable is going to be a nightmare,” said Hawaii Kai resident Natalie Iwasa.

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“My other concern about this is the landlords, they obviously have a stake in this but if they miss a deadline, it is no skin on their backs you know why? Because they will increase the rent for people like me and other families who cannot afford a home,” she added.

But younger constituents seem to support the proposal.

“This is not about punishing anyone. It is about making housing accessible to the people who call Hawaii their home,” said one testifier.

Bill 46 could still undergo even more revisions.

The bill is expected to go for a final vote on December 11, where public input will also be taken.

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