Local Connection: Ige and Hawaii’s Slowing Economy

Local Connection: Ige and Hawaii’s Slowing Economy

Governor David Ige has been congratulating himself during the campaign for the strength of our economy.

But a new report from the economists at the University of Hawaii indicates there is not much to brag about.

The report says other than tourism, virtually every sector of the economy is slowing, with our overall growth now much slower than the Mainland.

The experts say rents are either flat or going down – which is good news for renters but a bad sign for the strength of real estate and local home equity.

The rents could be falling because our population is falling — again good news for some — but not for job growth. And overall it means that people who have held good jobs here are moving to even better opportunities on the mainland.

Tourism is the bright spot. But primarily because of the strength of the economy in the rest of the U.S.

The bottom line is our economy may be even LESS diverse than it was when Governor Ige took office. That means he dropped the ball on a central promise of his campaign – which impacts every person in the state.

Copyright 2018 Hawaii News Now. All rights reserved.