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Hawaiʻi faces mild recession as tourism falls, inflation rises in new UHERO third quarter forecast
UHERO forecasts a mild recession in the islands over the next year, with the weakening US economy threatening a potentially deeper downturn. The Maui condo market has seen a large plunge in activity, with the value of resales down nearly 50% compared with mid-2023. This reflects in part uncertainty over Bill 9.
