According to a report released by the University of Hawaii Economic Research Organization (UHERO), the neighbor islands’ economies have definitely shown signs of improvement, which will help propel the entire state’s economic expansion through at least 2015. The report stated, “Oahu continues to be further along in recovery, but the neighbor islands are catching up fast. This year, economic growth will quicken with an impetus from construction, which has turned the corner and is poised for a strong pickup in activity. The broadening recovery together with modest inflation will drive growth in real (inflation-adjusted) incomes across the counties over the next several years.”
UHERO predicts a 6.3 percent increase in visitor arrivals for the island of Oahu. However, they predict even higher increases from the neighbor islands. Kauai is forecast to have an 8.9 percent increase in arrivals, the Big Island of Hawaii 8.2 percent and Maui approximately 7.7 percent. It should be noted however, that the neighbor islands tourism industries suffered significantly more than Oahu did during the last six years of recession and that their numbers still lag far behind that of Oahu.
Source: Honolulu Star Advertiser, 5-24-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
