DBEDT E-newsletter – December 2024

Aloha kākou,

As 2024 comes to a close, it’s time to reflect on the strides we have made together at the Department of Business, Economic Development and Tourism (DBEDT). This year has been one of resilience, growth, and collaboration as we worked to strengthen Hawai‘i’s economy and support our communities through challenges and opportunities.

DBEDT raised its economic growth projections for 2024 to 1.6%, surpassing earlier expectations. Construction and real estate continued to drive economic stability, with the construction industry reaching a historic 43,300 jobs this October. These achievements are a testament to our shared commitment to building a strong foundation for Hawai‘i’s future.

The Maui Economic Recovery Commission (ERC) exemplified the strength of our community in times of need. In the aftermath of the devastating Maui wildfires, the Maui ERC worked tirelessly to provide critical support to rebuild infrastructure and revive local businesses. Their dedication has laid the groundwork for recovery and renewal, embodying the resilience that defines Hawai‘i.

This year, DBEDT remained steadfast in supporting strategic projects, policies, and infrastructure that advance Hawai‘i’s renewable energy goals. We also prioritized innovation, fostering growth in technology-driven enterprises and startups that diversify our economy and inspire entrepreneurship.

Hawai‘i’s rich cultural heritage remained a cornerstone of our work. Through various initiatives, we supported programs and events that celebrate and sustain the unique traditions of our islands, ensuring they continue to thrive for generations to come.

As we look forward to 2025, DBEDT remains dedicated to building a resilient, sustainable, and inclusive economy that benefits all residents of Hawai‘i. Mahalo for your continued support and collaboration in these endeavors.

Mele Kalikimaka e Hauʻoli Makahiki Hou!
James Kunane Tokioka

DBEDT Keeps Hawai‘i Economic Growth Rate at 2.0 Percent for 2025

DBEDT’s fourth quarter 2024 Statistical and Economic Report highlights promising economic growth for Hawai‘i with 2024's forecast revised upward to 1.6 percent and 2025 steady at 2.0 percent. The state has surpassed pre-pandemic GDP levels fueled by strong gains in sectors like Information Professional Services and Agriculture. Construction continues to thrive with record-breaking employment and rising private building permits. Real estate shows positive trends with increased sales and rising home prices. While tourism recovery lags full recovery is expected by 2027 bolstered by growing visitor spending.

Spotlight on Hawai‘i’s Emerging Industries

DBEDT’s 2024 update on Hawai‘i’s Targeted and Emerging Industries reveals over 14,600 jobs added in the past decade, with a 0.9% annual growth rate. Aquaculture led with the fastest growth at 6.5% annually and the highest national concentration at 1422%, while Agriculture Support Services followed at 5.1%. Specialty Health Care Services added 4,339 jobs, highlighting Hawai‘i’s potential in high-growth sectors.

Despite progress, challenges remain for transitioning and declining industries like Higher Education. This report offers insights to guide Hawai‘i’s economic growth.

Hawaiʻi Protects 234 Acres for Agriculture in Wahiawā

Photo courtesy: Trust for Public Land

The Hawai‘i Agribusiness Development Corporation (ADC), in partnership with the U.S. Department of the Navy and the Trust for Public Land, has permanently dedicated over 234 acres near Whitmore Village in Wahiawā for agricultural use. This conservation easement not only supports the state's goal to double food production by 2030 but also provides a buffer zone for the adjacent Joint Base Pearl Harbor-Hickam Wahiawā Annex. Proceeds from the easement's sale will further ADC's mission to enhance local food production.

Water Reuse Workshop Gathers Thought Leaders to Ideate New Equitable Water Infrastructure Financial Incentives

HGIA Executive Director Gwen Yamamoto Lau addresses the audience on the nexus between water, energy and greenhouse gas reductions

On December 12, 2024, the Hawai‘i Green Infrastructure Authority (HGIA) hosted a workshop on designing financial incentives for on-site water reuse in new developments in Hawai‘i. Over the past year, HGIA joined six other green banks across the nation in a learning cohort organized by Coalition for Green Capital, the Robert Wood Johnson Foundation, PRE Collective, and Quantified Ventures to brainstorm new equitable water infrastructure financing programs in light of federal funding under the Greenhouse Gas Reduction Fund. The cohort identified on-site water reuse technologies as a potential tool to reduce pressure on Hawai‘i’s water supply, related restrictions on new housing development, water and sewage bills, as well as carbon emissions related to water pumping.

This convening gathered housing developers, engineers, technology providers and government agencies to think through what an ideal model financing program would look like and to discuss other barriers to the widespread use of water reuse technology in our state. HGIA sends its heartfelt appreciation to all attendees and looks forward to continuing conversations surrounding water reuse retrofit mandates for state buildings.

Good Jobs Hawai‘i Offers Creative Industries Training for Spring 2025

Hawai‘i residents can now enroll in two specialized courses aimed at enhancing skills in the creative sector, offered through the University of Hawai‘i Community Colleges’ Good Jobs Hawai‘i initiative in partnership with DBEDT’s Creative Industries Division. The courses are:

Accounting in Media Production: A five-part master certification course covering essential skills for production accountants, running from January 20 to March 21, 2025.
Production Assistant Fundamentals: An intensive certification program focusing on the core responsibilities of a production assistant, scheduled from February 3 to March 7, 2025.

These online courses aim to equip participants with high-demand skills in Hawai‘i's growing creative industries. To apply online for current trainings or to learn more, visit Good Jobs Hawaiʻi.

Funding for Hawai‘i’s Digital Equity Program

The Hawai‘i Broadband and Digital Equity Office (HBDEO) was honored to participate in an announcement by the Biden-Harris administration of $6 million in federal funding to help implement Hawai‘i’s Digital Equity Plan! This federal funding awarded by the U.S. Department of Commerce’s National Telecommunications and Information Administration will help us to empower individuals and communities with the tools and skills necessary to benefit from meaningful access to affordable, reliable, high-speed internet service.

The plan’s initiatives include increasing access to internet-enabled devices and affordable broadband services; supporting the expansion of telehealth programs statewide; and funding and establishing classes to educate people on how to use computers and other electronic devices for work and educational needs.

HBDEO is grateful for all of the partners that have worked toward this exciting milestone. Mahalo as we take another major step in closing the digital divide in our state!

Kolowalu Park Unveils O‘ahu’s First Inclusive Playground

Photo courtesy of Hawai‘i Community Development Authority

On November 27, 2024, the Hawai‘i Community Development Authority (HCDA) reopened the children’s playground at Kolowalu Park in Kaka‘ako, introducing O‘ahu’s first inclusive play area designed for children of all abilities. The playground features sensory play panels and equipment accessible to those with mobility devices, aiming to foster an environment where every child feels welcomed and supported.

Earlier this year, HCDA enhanced the park with new benches, picnic tables, and adult fitness equipment. Looking ahead, a new dog park on the mauka side of Kolowalu Park is slated to open in early 2025, further enriching the community space.

23rd Annual Holiday Tech Job Fair – Dec. 21, 2024
The Hawai‘i Technology Development Corporation (HTDC) invites you to the 23rd Annual Holiday Tech Job Fair on Saturday, December 21, 2024, from 10:00 a.m. to 2:00 p.m. at the Entrepreneurs Sandbox in Honolulu. This event aims to connect Hawai‘i's top tech talent with local companies in the technology, engineering, and defense sectors. Attendees can access resources such as resume critiques, professional guidance, and free AI-generated headshots. For more information, visit: https://www.htdc.org/jobfair2024/

HTDC Workforce Development Survey Deadline – Dec. 21, 2024
HTDC is conducting a vital survey to assess the state's engineering workforce needs over the next 1, 5, and 10 years. The study aims to gather data on demand and supply across various islands and disciplines, including salary insights. Your participation will help shape future workforce development and educational initiatives to meet Hawai‘i's engineering talent requirements. Complete the Hawai‘i Engineering Workforce – Projecting Needs and Opportunities survey.

For more on DBEDT and its divisions and attached agencies, please visit dbedt.hawaii.gov

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