I’m working on my annual start-of-Session mailer, and was doing some research. I came across a comparison of Hawaii’s economy and the US as a whole.
In 2016, the largest industry in Hawaii was finance, insurance, real estate, rental, and leasing.
The second largest industry was government.
The largest contributor to real GDP growth in Hawaii was finance, insurance, real estate, rental, and leasing. The second largest contributor to economic growth was construction.
I’m curious what people think of this.
Top Five State Industries as a percent of Total GDP, 2016
Hawaii United States
(Sorry, I couldn’t get the colors to copy. Start with dark blue and go counter-clockwise)
DARK BLUE: Finance, insurance, real estate, rental, and leasing
ORANGE: Professional and business services
GREY: Educational services, health care, and social assistance
TEAL: Arts, entertainment, recreation, accommodation, and food services
LIGHT BLUE: Government
SALMON: All others
You can see the report here: https://www.bea.gov/regional/bearfacts/pdf.cfm?fips=15000&areatype=STATE&geotype=3
With so many of us retired, it seems the cost to stay here is about like the working force which is leaving. If something isn’t done to help with living spaces the State may find itelf in a bad place. We are catering to the wealthy. The flow of Locals out of the state will make Hawaii like any other state . A place to go to the beach with nothing different.Hawaii is different because of the Aloha spirit. That is being shoved to the side. No local music , no luau. Nothing Hawaiian. I think this is a mistake of the planners. No one working ,no one paying taxes. Time to take a look at what you really want Hawaii to be. Another Florida ? Mahalo
I am not so sure that this breakdown is particularly useful. For example, the tourist industry could include rentals and professional services. Where do military and related economic activities fall?