Hawaii gets high marks for quality of life, but its overall rating as a place to do business is among the worst in the nation, according to a report published Tuesday by CNBC.

The study ranked Hawaii 48th out of 50 states in a composite index that included 10 categories designed to measure business competitiveness. The Aloha State has perennially ranked near the bottom since the report was launched in 2007. Hawaii captured the 49th spot for the first three years before rising to 48th in 2010.

Hawaii was ranked No. 1 for quality of life for the second straight year. And it moved up to 16th this year from 22nd last year for the strength of its economy. But the state fared relatively poorly in the remaining categories, coming in dead last for cost of doing business and cost of living.

Hawaii ranked 47th for work-force quality and availability, 46th for infrastructure and transportation, 43rd for its regulatory and legal framework, 42nd for innovation and technology, 40th for its educational system and 33rd for access to capital.

Hawaii’s closest competitors in the quality of life category were New Hampshire and Vermont, which ranked second and third, respectively.

"While this category may seem inherently subjective, rankings are quantified by analyzing crime rates, health care (quality and outcomes), air quality, water quality, and visits to local attractions," CNBC said in the report.

"It’s breezy at the top. Our winner, Hawaii, remains resplendent with fresh Pacific air, and boasts approximately five times more visitors than permanent residents."