According to reports released by the City and County of Honolulu and the State of Hawaii, the costs to host the 2011 Asia-Pacific Economic Cooperation summit on Oahu came in significantly under budget. Honolulu officials stated that they spent approximately $21 million of the $43 million that they had budgeted and state officials spent only $2.7 million of the expected $7.5 million. Honolulu Mayor Peter Carlisle noted, “Hosting APEC was a challenging task, and Honolulu did a remarkable job. We made sure everything was in place to ensure a safe, smooth event that made Honolulu proud, while keeping expenses to a minimum.”
Darryll Wong, the State of Hawaii’s Adjutant General, added, “We were prepared to spend more to protect people and property during APEC but were able to avoid doing that because we had few problems. The security plan set in place by the Secret Service and local and federal law enforcement officials was well thought out and effective.”
Source: Honolulu Star Advertiser, 2-10-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
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