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Honolulu economic growth ranks in bottom half of U.S. cities

By Star-Advertiser Staff

POSTED:
LAST UPDATED: 12:40 p.m. HST, Nov 18, 2013



Honolulu's economic growth rate this year ranks in the bottom half of the nation's metropolitan areas, and it is expected to lag again in 2014, according to a report released today by the U.S. Conference of Mayors.

Honolulu's economy, as measured by gross metropolitan product, is forecast grow only 0.3 percent in 2013, the 219th lowest rate out of 363 metro areas surveyed for the report. The 2013 GMP forecast for all metro areas is 1.6 percent.

Honolulu's GMP is expected to accelerate to 1.7 percent in 2014 compared to a national average of 2.5 percent.

Honolulu's economic output is forecast to total $57.6 billion in 2013, the 51st highest of all U.S. metro areas, according to the report done for the Conference of Mayors by IHS Global Insight.

The report also compared the size of U.S. metropolitan economies with countries across the globe. Honolulu ranked 124th on that list, one notch behind Luxembourg at $57.1 billion, and ahead of Croatia at $56.5 billion.






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Local economic growth trails most U.S. cities




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AhiPoke wrote:
Not surprising. Hawaii and Honolulu are generally considered to be amongst the least business friendly locations in the US. Our politicans have little or no business expertise and are elected mainly to support unions. Under these conditions why would anyone expect significant economic growth?
on November 18,2013 | 11:53AM
serious wrote:
AhiPoke, you got it right. I see that even the Beach Boys are about to be taxed out of business. Let's get a gambling casino so we can at least brag that we have a revenue source other than the military and, "do you want fries with that"?
on November 18,2013 | 12:05PM
sooregonian wrote:
serious -- You are so right. Gambling revenue is inevitable as tourism appears to have peaked. SB1 will cement Oahu's reputation as an adult-oriented pacific playground like San Fran (sorry) and Vegas. No way hotel properties want to see falling room rates and occupancy. Big money making a play recently in commercial and resort properties.Why? The gay marriage nirvana only extends the bubble another 3 years or so. After all, Big O's never last... as Obama has belatedly discovered.
on November 18,2013 | 05:43PM
localguy wrote:
Exactly why a mainland contractor did the stadium work with mainland employees for less than our clueless, local unions. Unions are their own worst enemy, they just don't get it.
on November 18,2013 | 02:21PM
Ronin006 wrote:
The APEC meeting held in Honolulu in November 2011, on which the city and state spent $120 million or more to host, was suppose to generate millions of dollars in business for the state. Where is it?
on November 18,2013 | 04:46PM
HD36 wrote:
True. Mizuno has never held a job in private industry.
on November 18,2013 | 05:01PM
palani wrote:
Must be some mistake. The Star-Advertiser has been repeatedly telling us that our economy is booming, dutifully regurgitating the party-in-power talking points.

Hawaii auto sales surge, reflecting strong economy

Healthy economy will temper $684M loss

The state's growth is forecast to remain healthy as tourism's hot streak cools off


on November 18,2013 | 12:53PM
localguy wrote:
You actually believe what you read in the Star-Advertiser? Really? State bureaucrats ask the SA to print fake news on how well the Nei is doing. Knowing no one will be interested to verify the facts.
on November 18,2013 | 01:57PM
islandsun wrote:
You sure about this? Have you checked our politicians net worth?
on November 18,2013 | 12:56PM
localguy wrote:
No news here. Our clueless, elected bureaucrats have no expertise in areas which would lower the cost of doing business in the Nei. All the do is kow tow to the unions and anyone who gives them $1. They come up with business tax after tax, fees, on and on, more minutia than anyone could come up with. Any business owner could tell them how to lower the cost, but nooo, they think they know better. They don't. The Nei will continue doing what it does best, ranking in the back of all the 50 states. Our standard is sooo low even the gutter is higher.
on November 18,2013 | 02:18PM
engineersoldier wrote:
I would be interested in knowing the correlation of economic and population growths. I, for one, am not expecting an above average population growth for Honolulu. Why do we need continuous economic growth to have good quality of life.
on November 18,2013 | 03:25PM
HD36 wrote:
The government propoganda of the last decade equates inflation with economic growth. The beleif that a rising cost of living will equate with economic growth is one of the biggest lies of governent. When your dollar buys less, your standard of living goes down. However the government needs to keep interest rates at historic lows because the deficit is the highest in history. This easy money policy of quantitative easing is benefitting a very few.
on November 18,2013 | 05:09PM
pcman wrote:
IRT soldier on economic growth. Here's a simple way to look at it. Economic growth is based on a net balance of funds spent by the state for outside resources and products and funds brought into the state by external sources. Monies for food, building supplies, cars, studies, etc. that leave the state are a negative. Monies brought into the state by tourists, military, research, etc. are a positive. Goods and services, like education, infrastructure, government, etc, which are generated inside the state and stays in the state are a toss up or neutral. Why do we need growth? To pay for our deficits, bonds, and increase of requirements, such as education, infrastructure, etc, by an increase in population.
on November 18,2013 | 05:10PM
middleofdasea wrote:
What you expect!?!?!? Elected leader only worry about SAME SEX MARRIAGE
on November 18,2013 | 04:29PM
Ronin006 wrote:
I don’t get it. The APEC meeting held in Honolulu in November 2011, on which the city and state spent $120 million or more to host, was suppose to generate millions of dollars in business for the state. Where is it?
on November 18,2013 | 04:44PM
sooregonian wrote:
Entrepreneurs who are location independent can move to income tax free Washington and visit Hawaii in the winter. Don't forget to shop in sales tax free Oregon -- though you are required to report purchases and pay sales tax. The money you save just might pay for trips back AND leave enough left over to grow your business. The Cascadia Region is dynamic with abundant resources.
on November 18,2013 | 05:56PM
HD36 wrote:
Yea, the property tax in Oregon is high. The food is cheap.
on November 18,2013 | 08:39PM
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