Kauai Economic Statistics and Forecasting

Kauai Economic Forecast 2023

News Release by the County of Kaua‘i, Office of Economic Development:

LĪHU‘E – The Office of Economic Development (OED) has announced that a Kaua‘i County-focused Economic Outlook has been published for the first time since 2019.

The University of Hawai‘i Economic Research Organization (UHERO) was contracted by OED to complete the study. UHERO’s forecast project aimed to illuminate key sectors, emerging trends, and potential challenges that influence Kaua‘i’s economic outlook. The project focused on the interpretation and projection of data on the changing economic and business environment in Kaua‘i and the state of Hawai‘i.

Following a modest recovery from the COVID-19 pandemic, Kaua‘i now finds itself at a critical juncture as the possibility of a U.S. recession looks increasingly likely due to tightening credit and rising interest rates constraining demand. Although more vulnerable to an impending U.S. downturn than other Hawai‘i counties, according to UHERO’s forecast, the County of Kaua‘i’s tourism sector will remain resilient as Kaua‘i continues to be a sought-after destination with a strong sense of local attachment.

“We are happy to be able to provide this Kaua‘i-focused forecast to interested community members, businesspeople, and our partners to help guide all of us as we continue to move forward out of the shadow of the pandemic and into the future,” said OED Director Nalani Brun. “We thank Economist Steven Bond-Smith, Professor of Economics Dr. Carl Bonham, and the University of Hawai‘i Economic Research Organization Team for their partnership and guidance.”

Additionally, an academic peer review of the Kaua‘i Economic Outlook has been conducted, and the forecast project is now available to view online at kauaiforward.com.