#Maui Economic Forecast

Maui’s economy will only gradually recover from its post-wildfire downturn while visitor industries in other counties across the state will continue to operate at high levels, according to the University of Hawaiʻi Economic Research Organization’s (UHERO) third quarter forecast for 2024.

“Maui is set for an extended recovery period this decade, while population slowing will reduce future growth to varying degrees across the counties,” according to the UHERO forecast.

Hawaiʻi’s economy has been sustained by a resilient US economy and the gradual return of international visitors. According to the University of Hawaiʻi Economic Research Organization’s first quarter forecast for 2024, with the islands’ post-pandemic recovery now largely complete, the economy will downshift this year, and growth will increasingly come from local sources, including a robust construction sector bolstered by the rebuilding of Lahaina, Maui.

Suyderhoud said that while recovery continues, it has not been consistent and he used the word “choppy” as a “watchword” to describe what kind of conditions Maui might expect for the next year.

Economists say Maui’s tourism boom will slow down, but its continued strength will support the rest of the economy in the year ahead.

In their latest economic forecast, the State of Hawaii has projected higher growth of visitor-related indicators and more optimistic growth of most other economic indicators in 2012.

“Hawaii’s tourism industry continues its robust recovery, there are other economic bright spots as well,” said Dr. Leroy Laney at the First Hawaiian Bank Business Outlook Forum in Honolulu.

Overall, the economic forecast calls for job creation, a construction rebound, and robust tourism–factors that make Maui No Ka Oi among the neighbor island economies.

First Hawaiian Bank hosts its 38th Annual Maui County Business Outlook Forum on Friday, September 7, 2012 at the Maui Beach Hotel in Kahului.

Even though the end to the recession occurred some time ago, Laney said Maui is the only county in the state that continues to lose jobs.

By Wendy Osher Maui’s economic picture is marked by an impressive tourism industry rebound, according to First Hawaiian Bank economic advisor and Hawaii Pacific University professor Dr. Leroy Laney, who was the featured speaker at the 36th Annual First Hawaiian Bank Economic Outlook Forum, held at the Maui Beach Hotel in Kahului on Thursday. [flashvideo […]

The Maui Chamber of Commerce will host several upcoming events on Maui featuring island dignitaries. 2009 ANNUAL GOVERNOR’S LUNCHEON The first will be held this Friday, January 30, 2009 at the King Kamehameha Golf Club in Waikapu.  There, Governor Lingle will deliver the keynote address at the Maui Chamber of Commerce’s annual meeting.  Lingle is […]