Hawai’i’s Department of Labor and Industrial Relations published an economic report last month suggesting an upcoming “…decade of slow, cautious expansion”. Wow. A decade of blah. That sounds ominous- especially if you’re seeking your way professionally, looking at local long-term opportunities for personal and earnings growth, and seeking a path toward retirement.
With an annual projected job market growth rate locally of just 0.4% for the foreseeable (and unforeseeable) future, how will Gen X, Y, Z, and Alpha sustain or enhance a lifestyle that provides what they want, much less need?
The DLIR report speculates that growth will be found in categories such as general management, nursing, repair work, maintenance, food and service industries, carpentry and bartending, as well as health care and social assistance areas.
Vocational shifts and needs are occurring already (in part) due to increased digital and A.I. workplace components. Business and government leaders must seek out ways to encourage and/or develop growth industries here- beyond tourism and construction. Remote working, though it has downsides, appeals to many working families and those who simply desire more life balance, a concept that differs for everyone.
The 2026 state legislature added an extra 5% tax credit to Hawaiʻi’s Motion Picture, Digital Media and Film Production. That made headlines, but 5% is no alluring game-changer nor a major inducement as productions opt for greener pastures elsewhere to film shows/movies that might “look like” Hawai`i. Raising the total available annual cap on production credits for TV/movies from $50 to $60 million, while a 20% increase, remains too small a base for big-time productions; we should offer at least double that amount.
The average price tag to make a Hollywood movie is $60-million, while episodic mini-series cost at least $6-million per episode. If we’re serious about luring more (non-polluting, well-paying, eco-friendly-ish, scenic promotion) productions and if we want newer, unexplored businesses to consider Hawai`i, we gotta have more to offer.
Case in point- Delaware became America’s “corporation capital” 127 years ago by offering good deals, updating legal services, and providing better business incentives. Corporate franchise taxes and fees now make up about $2 billion (or 25%) of Delaware’s general fund. Yes, Delaware.
With DLIR’s report and Hawai’i`s annual out-migration pattern, we need to do more than wait and hope; we need pro-active concepts as has been suggested repeatedly for over 30 years. Tourism and construction need viable economic siblings… quickly.
Think about it…