HONOLULU (KHON2) -- Projections indicate that Hawaii's economic growth will persist at a sluggish pace throughout 2024.
Initially forecasted at 1.5% for the year, the state has now revised the estimate slightly downward to 1.3%.
Factors contributing to this deceleration include reduced visitor arrivals and spending, elevated inflation rates, and a sluggish job market.
Despite these challenges, the construction sector emerges as a beacon of hope for Hawaii's economy, with job creation on the rise and improvements noted in the value of residential building permits.