Station12

  Business: August unemployment by island

Unemployment rates across the islands have been seeing a steady decrease in numbers since last year.

  Business Report: How Hawaiian Airlines chooses a new route

  Business: International visitor traffic to the United States

  Business Report: A look at supplies, shipping, and storms

  Business: August home sales on the Big Island

  Business: September air seats to Hawaii

  Business Report: Tourism is up (again), and Kahala gets ready for a new mall

Continued Coverage

  Business: How many federal employees live in Hawaii

  Business Report: July hotel occupancy report

  Business Report: Gas prices here and on the mainland

  Business Report: The hardest working states in America

  Business Report: A hurricane primer for our friends from the mainland

Business Report: Hawaii unemployment by island

Business Report: America’s highest paying jobs

Median base salary for America's highest paying jobs. $96,000 – tax manager. $97,000 – attorney. $102,000 – financial planning manager. $104,000 – plant manager. $105,000 – Engineering manager. $107,000 – nurse practitioner. $109,000 – physician assistant. $116,000...

  Business Report: A survey designed to show how business-friendly each state is

Thumbtack.com surveyed 75 hundred small business owner-operators across the whole nation.  HAWAII BUSINESS FRIENDLINESS Ease of starting a business 50 Ease of hiring 48 Overall regulations 48 Labor regulations 50 Tax regulations 48 Licensing regulations 43 Training and networking...

  Business Report: America's biggest retailers by sales

America's biggest retailers by annual sales. 1. Walmart $375 billion. 2. Kroger $116 billion. 3. Amazon $103 billion. 4. Costco $93 billion. 5. Home Depot $92 billion. 6. Walgreens $83 billion. 7. CVS (Longs) $78 billion. 8. Target $72 billion. 9. Lowe's $63 billion. 10. Albertsons (Safeway) $59 billion. $30 billion...

  Business Report: Where do the Big Island's visitors come from?

We're looking at air capacity, just to Kona, just this month. LAX 42,116 (inc. 4,648 to Hilo) SFO-OAK-SJC 28,343 SeaTac 13,704 (+1,685 from Portland)...

  Business Report: The coming of the annual Starbucks Autumn drinks

  Business Report: Credit card debt across Hawaii

  Business Report: Effects of low unemployment on hiring

  Business Report: : How long $1 million lasts you in retirement

  Business Report: How to calculate lava losses to Hawaii tourism

  Business Report: How America uses its land

  Business Report: Inside Matson

Yesterday we gave you Matson second quarter financial results. Today, a closer look at how much business Matson does, and where. Hawaii containers 38,600...

  Business Report: A proposal to further cut taxes on the rich

Treasury Secretary Steven Mnuchin says his department is looking at it – a proposal to start indexing the capital gains tax for inflation. Dialing out inflation would reduce the capital gains tax. And Mnuchin says he's trying to figure out if he can do it administratively, without Congress. Suppose an investor...

  Business Report: Leg room when you fly coach

The Wall Street Journal published a list showing legroom in economy by airline. JetBlue 34 inches Alaska 31-36 inches Southwest 31-33 inches American 30-32 inches Delta 30-32 inches United 30-31 inches They didn't measure Hawaiian...

  Business Report: More detail on Hawaii coffee production

Hawaii farmgate coffee prices have been rising even as production ebbs. Year/Bearing acreage/Utilized production/Farmgate price per pound 2015-16 6,900 - 30,137,000 lbs. $1.55. 2016-17 7,000 - 28,571,000 lbs. $1.71. 2017-18 7,200 - 24,592,000 lbs. $1.78. These are official USDA figures based on self-reporting...

  Business Report: SCOTUS rules on working off the clock

Hold onto your pants! It's Crisis at a Glance! The California state Supreme Court rules unanimously that Starbucks has been bad.

  Business Report: Businesses Lobby Washington

Based on spring filings, these are the big spenders. Top five corporate lobbies: U.S. Chamber of Commerce $15.2 million. Google* $5.8 million. Business Roundtable $5.8 million. American Chemistry Council* $3.6 million. Amazon* $3.5 million...

  Business Report: How money flows at an airline

Using spring results, just out from Hawaiian Airlines, let look at how an airline works. Hawaiian spring revenue was more than $700 million. More than nine tenths of that came from passenger revenue, ticket sales and fees. The rest was revenue in the cargo division and performing local services for other carriers...

  Business Report: Shifts on our labor report

Hiring is up and unemployment is low. But hiring is up OR down depending on which KIND of job you're talking out. Look at certain June job counts compared to the same time LAST year. Hotels and Food Service 115,300 (110,700) +4,600 Healthcare 72,100 (69,400) +2,700 Real Estate/Rental 12,700...

  Business Report: 6/20/18

Hawaii's jobless rate rose one tenth last month to a seasonally adjusted 2.1%. Without adjustment every island saw an increase from May but none was higher than a year ago. We told you Hawaiian Airlines is hiring customer service and ramp agents. The next job fair is tomorrow at the Kauai Beach Resort...

  Business Report: Will U.S. wages rise or not?

Keep in mind, for the long-term health of the economy, it's enough for wages to rise. They have to rise more than inflation, until consumer buying power is what it used to be. Indicators that wages could rise + Ratio of job openings to job seekers: 0.9 (in 2016: 1.3). + Quit rates: 3.56 million in May, a record. So job-hopping is up. + Unemployment rate: 4% nationwide as people re-enter work force. Indicators that wages WON'T rise + Tax cuts went to dividends more than raises or hir...

  Business Report: Spurious correlations

If fuel prices soar and travel declines, you may feel the two trends are correlated. But without proof of cause-and-effect, correlations should not be automatically accepted. A fact-checking group called Spurious Media decided to demonstrate. It searched for trends that look very similar, but can't possibly...

  Business Report: Our retail sector

CBRE says retail employment is ebbing and vacancy is rising as we shop more online.

  Business Report: 7/13/18

Here's a milestone in rebuilding from the Puna lava – the Small Business Administration reports its lending in the disaster zone has already topped $10 million – actually $10.2 million. About $1 million has gone to businesses, the rest to residents. The SBA emergency office is at Keaau High. Hawaiian Airlines...

  Business Report: Where the Hawaii state government gets its revenue

These figures are from the June report, concluding a 12-month budget cycle. Excise taxes: $3,395,566,000 +4.8%. Income taxes: $2,491,942,000 + 13.7%. Corporate income taxes: $69,012,000 -10.1%. Transient Accommodations Tax: $554,890,000 +9.2%...

  Business Report: How American wages compare to other industrial nations

Households Earning Less than Half the Median Income 7% France, Netherlands, Finland 8% S. Korea, Norway, Sweden 9% Germany, New Zealand, Ireland...

  Business Report: Trade war impacts, state by state

China is retaliating for Trump trade tariffs. The U.S. Chamber of Commerce, usually very pro-Trump, is against the new tariffs. It's been circulating state-by-state information on exports impacted. In this chart, the darkest color represents states with billion-dollar impacts. These are just China tariff impacts...

  Business Report: Honolulu Office Space

Oahu has 14.6 million square feet of office space, but rents and vacancy rates vary a whole lot. Central Business District: 7 million sq. ft., 17% vacancy...

  Business Report: A possible wild card factor in labor force participation

As the jobless rate has fallen, it has been suggested that part of that is people dropping out of the work force altogether. They're not counted as unemployed because they're not looking for work. A researcher for Deutschebank noticed something interesting – a bit of a correlation between labor force...

  Business Report: May hotel performance

Waikiki 84% (82%) $222 +4% Other Oahu 80% (76%) $246 +3% Luxury Only 67% (64%) $462 +3% Wailea 86% (84%) $509 +9% West Maui 74% (76%) $284 +5% Other Maui 78% (76%) $410 +13% Luxury Only 79% (76%) $558 +11% Kohala Coast 64% (70%) $337 +12%...

  Business Report: How uninterruptible power supplies work

It sounded like a joke: all city services were interrupted because the uninterruptible power supply was interrupted. But that’s apparently what happened. And it could happen to you. An uninterruptible power supply, or UPS, takes the outside electric power and converts it from alternating current to direct current. It stores that direct current in a battery. At the other end, power is reconverted from DC back to AC and flows through your office. Because the UPS unit stores power,...

  Business Report: Updating Big Island arrivals by air

We've gotten more than 30,000 arrivals every day but one since June began. Extrapolating from that, we went over 700,000 June arrivals on Friday morning, and topped 800,000 last night. Every day, Honolulu airport alone welcomes more visitors than Stonehenge did on the summer solstice. But Big Island...

  Business Report: The cost of an excise tax surcharge

Big Island county services are underfunded by millions of dollars. This was true even before the lava came. Almost two-thirds of county spending is wages, which were negotiated statewide without county input. The county council can reduce spending at any time; no tax vote required. But anyone who thinks...

  Business Report: Did the floods and the lava affect unemployment?

Every week, the state counts the number of NEW applications for unemployment. Island by island, we know precisely how many people have newly joined the jobless rolls.  Or do we? These are the Kauai and Big Island new jobless claims numbers for the most recent weeks we have. Kauai has risen...

  Business Report: Why wages aren't increasing

It's been 10 years since the stock market crash. The economy has been growing; the stock market has been climbing. Unemployment has fallen to a several-decades low. Businesses are having trouble filling openings. These conditions are supposed to unleash robust wage increases. But in most industries...

  Business Report: A close look at Kauai arrivals

Since June began, arrivals by air are up 16% to Maui and 21% to the Big Island, in line with previous months.

  Business Report: How big is the gig economy?

For two years economists have told us that the future of employment is the gig economy, where many of us are idle until our smart phone summons us to take an assignment. Like a musician or an Uber driver.  Two years ago economists from Harvard and Princeton said the gig economy accounted for almost...

  Business Report: Pending home sales on Oahu. What are the price points?

Usually I just give one price, the median price. On Oahu the house median is currently 778. Half the houses sell for more, half for less, than 778. But let's drill down deeper. OAHU PENDING SALES $550,000 and below – 520 $550,000-$650,000 – 611 $650,000-800,000 – 1,148 $800,000-$1.1 million...

  Business Report: New information on Big Island tourism cutbacks

This morning I have new guidance from the hotel industry, which reminds us that whenever you say something is UP you should also say "compared to what?" + Airlift is STILL almost 20% higher than last year. + Hotel occupancy is higher than last year – mid- to high-70's. + But they projected more...

Business Report: What's really happening to tourism after the floods and the lava

Arrivals by air are calculated by state economists based on the mandatory agriculture forms. That's a larger sample size than most polls. And the data show significantly more people flying here this spring than last. But to double check, I took a look at daily arrivals counts going back several weeks, broken down...

Business Report: A new way to consider international visitor traffic

For every person here from New Zealand we get: •       2 from South Korea. •       4 from Australia. •       6 from Canada...

Business Report: An updated list of where we get our visitors

These figures are based on the state census of scheduled seats for the month of June. LAX 813,000 All Japan 538,000 Bay Area 601,000  SeaTac 245,000 The next several airports send 100,000 seats a month or more. PHX 124,000 DFW 116,000 SDO 105,000 All Australia 97,000 And that brings...

Business Report: The new state economic forecast

Visitors 9,383,000 +6% to 9,949,000 Visitor spending $16.9 billion +6% to $18.3 billion Personal income +3.1% (2017) to +4% (1028) Non-farm jobs 653,000 +1.2% to 660,000 Honolulu CPU (1984=100) 272 +2.6% to 279 You need $70,000 today for what $25,000 bought in 1984. Copyright 2018. Hawaii News Now. All Rights Reserved.

Business Report: Hawaii auto sales this year so far

HAWAII 1. Toyota 27% 2. Honda 15% 3. Nissan 10% 4. Chevrolet 7% 5. Ford 6% 6. Kia 4% 7. Subaru 3% 8. Lexus 3% 9. Mercedes 3% 10. BMW 2% MAINLAND 1. Toyota 13% 2. Ford 12% 3. Chevrolet 11% 4. Honda 10% 5. Nissan 7% 6. Jeep 6% 7. Subaru 4% 8. GMC 4% 9. Kia 4% 10. Hyundai 3% Copyright 2018. Hawaii News Now. All Rights Reserved.

Business Report: Hotel performance for the first four months of the year

January through April, combined, gives us one third of the year. And a good picture of hotel performance before any long-term disaster effects. Kauai 80% $300 RevPAR up 17% Waikiki 85% $228 RevPAR up 3% Other Oahu 80% $266 RevPAR up 4% Maui-Wailea 89% $566 RevPAR up 17% Maui-West 79%...

Business Report: Cities with the most millionaires

Kiplinger listed the most millionaires per capita. And there's the list. 1. Suburban New York (Bridgeport-Stamford-Norwalk.) 2. Silicon Valley (San Jose-Sunnyvale-Santa Clara.) 3. Washington D.C. 4. Lexington Park, Md. (two hours out of D.C.) 5. San Francisco. 6. Barnstable, Mass., on the Cape Cod peninsula...

Business Report: A closer look at April unemployment across Hawaii

April unemployment (and last year) Kauai 1.8 (2.7) Oahu 1.9 (2.2) Molokai 4.8 (5.3) Lanai 2.1 (3.0) Maui Island 1.9 (2.7) Big Island 2.2 (2.9)...

Business Report: More on America's busiest airports

Following up on yesterday's figures, here are the busiest airports, re-ordered by the number of passengers coming in from other countries. I'll tell you right off the bat Honolulu moves up the ranking to 14th place with 5 million international arrivals last year. JFK is far and away the busiest with 31 million...

  Business Report: Illustrated Economics

Honolulu airport handles almost 10 million passengers a year - 26th busiest in the U.S. - busier than San Diego or Pittsburgh or New Orleans. But how does that compare with the biggest airports? Let's take a look... and let's compare the newest figures, from last year, with 10 years before. This list is...

Howzit Howard: May arrivals by air

May arrivals for the first half of the month are already up from last year.

Business Report: 5/14/18

BNP Paribas, largest bank in Paris, has already executed its plan to sell more First Hawaiian Bank stock, raising $503 million by taking its stake below 50%. It is still FHB's largest shareholder. The American Logistics Association preps for its annual Hawaii Food Show, where local companies pitch products...

Business Report: Five facts about Southwest Airlines pending interisland service

It's time for Howard's Illustrated Economics. This morning, five facts about Southwest Airlines pending interisland service. 1. It has deeper pockets than Hawaiian. 2. It will fly jets, apples-to-apples competition. 3. It will fly jets, so its costs will be substantial. 4. It has a senior exec who worked for Hawaiian...

Business Report: What is Pentane?

Puna Geothermal stores lots of pentane on-site and plans to move it in case the lava moves northeast from where it is now. But what IS pentane? Like pentagram and Pentagon, the name refers to FIVE. It's 12 hydrogen atoms held together by 5 atoms of carbon. Pentane is used as a solvent, and in...

Business Report: Travel insurance and the lava

When you book an airline ticket, they offer travel insurance. Maybe you've bought it from time to time. I wondered whether that would cover someone who backed out...

Business Report: Three ways the lava affects the economy

Retail sales diminish when there is a disaster, indeed even when the weather is bad. Covered malls are busy in heat waves and torrential rain, but other stores, not so much.  Even stores that sell emergency supplies find that they don't sell much of their other wares. Bottled water sells big, sure, but...

Business Report: Our smaller sources of international air capacity

This month we get 927,000 seats from foreign countries. Most of them are from Japan – 517,000 of them. That leaves 410,000 seats. We get 98,000 from Australia, 77,000 from South Korea, and 57,000 from Canada. That leaves 178,000 seats. Where do the rest come from...

Business Report: A detailed look at April arrivals by air

To Kauai 60,000, up 37% (+16,000) To Oahu 343,000, up 2.6% (+31,000) To Maui 166,000, up 6.4% (+10,000) To Big Island 82,000, up 25% (+14,000) INTERNATIONAL...

Business Report: Details from the March tourism report

MARCH VISITORS OAHU 511,000 +10% up 45,000 MAUI 260,000 +9% up 30,000 KONA SIDE 152,000 +18% up 23,000 KAUAI 75,000 +22% up 23,000 HILO SIDE 62,000...

Business Report: Which companies have the most positive impact on society today?

Survey Monkey surveyed Americans with this question, offering suggested companies. The survey was conducted earlier this month. Amazon 20%. Google 15%...

  Business Report: The March report on Hawaii hotel performance

Kauai 81.1%+2.0 $306+13%  RevPAR+16%. Oahu 84.3%+1.5 $235+1%  RevPAR+2.4%. Maui 80.2%+0.9 $432+13%  RevPAR+14%...

Business Report: Trends in construction costs

Rider Levett Bucknall tracks construction costs in 14 cities including Honolulu. We're one of the most expensive places for construction. But at least it's not getting worse. Take a look. Los Angeles +7%...

Business Report: How much do we trade with our trade partners?

The U.S. International Trade Commission provided the numbers. The U.S. is more populous and more prosperous than either Canada or Mexico, so you might think we would buy way more than we sell, but actually, in both cases, we sell almost as much as we buy...

Business Report: A close look at arrivals by air for the first half of this month

These figures take us from the beginning of April through last Thursday before the rains came. To Kauai 25,000 (+6,000, or 35%) To Oahu 140,000 (same as last year)...

Business Report: What Hawaii executives make

Publicly-traded companies must disclose what they pay their CEOs. Pacific Business News researched total compensation including stock. The top-paid executives are: Hawaiian Electric's Connie Lau, $5.9 million. First Hawaiian's Bob Harrison, $5.8 million. Bank of Hawaii's Peter Ho, $5 million. Matson's...

Business Report: What the Fed said at the last meeting

The Fed governors met March 20 and 21 and released minutes of the meeting yesterday. This is what they said: "Uncertainty about the tax cuts or about the implication of higher budget deficits for fiscal sustainability and real interest rates represent sources of downside risk." What's that mean? This is...

Business Report: A closer look at workplace drug tests

Four times a year, Diagnostic Laboratory Services issues a report on the collective results of workplace drug tests. DLS does thousands of drug tests per quarter, more than anybody else. Many are tests of workers in sensitive drugs; a much larger number of tests are given to job APPLICANTS. I'm reporting...

Business Report: The world's busiest airports

This is based on 2017 annual figures. Atlanta Hartsfield: 104 million passengers. Beijing: 96 million. Dubai: 88 million. Tokyo Haneda and LAX: 85 million...

Business Report: An update on Honolulu visitor spending

The Tourism Authority updated visitor spending for the first two months of the year. Let's take a look. January + February Visitors 1.5 million (1.4 million) Visitor spending $3.2 million ($3 million -) From Japan: 243,000 -1.4% From Canada: 133,000 +5.7% From South Korea: 59,000 +22.6% From Australia...

Business Report: Inside the Dow

The wild swings of the Dow have led people to make sweeping inferences. But there are only 30 stocks in the Dow, and each stock has its own story. I have a list of all 30, with how much they fell or rose from the beginning of the year to the close of trading yesterday. Now, the Dow is rebounding a bit this morning...