Hawaii Chamber of Commerce Unveils 2030 Blueprint for Resilience

Honolulu, Hawaii – In the face of persistent challenges such as a housing crisis, labor shortages, and outmigration, Hawaii’s business community has come together to create a comprehensive plan for economic resilience. The blueprint, spearheaded by the Chamber of Commerce, aims to address the state’s long-standing issues and foster a conducive environment for businesses to thrive.

Addressing the State of the Economy

At the Chamber’s annual “State of Business” event, attendees engaged in candid discussions about the current economic landscape and explored collaborative solutions to improve business conditions in Hawaii. Sherry Menor-McNamara, the Chamber president and CEO, highlighted the critical need to address the challenges faced by local businesses, many of which are struggling to survive amid rising costs and regulatory hurdles.

The 2030 Blueprint for Hawaii

To address these challenges, the Chamber of Commerce, in collaboration with industry experts and consultants, has developed the 2030 Blueprint for Hawaii. This blueprint outlines a comprehensive plan of action, encompassing 17 specific initiatives aimed at stimulating job growth and supporting small businesses. The blueprint emphasizes the importance of accountability and measurable progress, with the goal of improving Hawaii’s ranking as one of the worst places to do business.

Key Elements of the Blueprint

The 2030 Blueprint for Hawaii encompasses a wide range of strategies, including:

– Streamlining permitting and licensing processes to reduce delays and inefficiencies.
– Diversifying the economy by promoting new industries and supporting existing ones.
– Investing in education and technology to enhance the skills and competitiveness of the workforce.
– Addressing the housing crisis by promoting affordable housing options and encouraging homeownership.

Shared Resolve on Housing

A notable aspect of the blueprint is the shared resolve among business leaders and policymakers to tackle the housing crisis. Recognizing the inextricable link between housing affordability and workforce stability, the blueprint emphasizes the need for a comprehensive approach to address this issue. Maui Chamber of Commerce President Pamela Tumpap emphasized the importance of uniting efforts to provide secure housing for workers and alleviate the burden on businesses.

Governor Green’s Plans for Short-Term Rentals

Governor Josh Green, in response to concerns about the impact of short-term rentals on the local community, expressed his intention to explore restricting short-term rentals to designated tourism areas. This move aims to balance the economic benefits of tourism with the need to protect affordable housing options for residents.

Leveraging Tourism for Local Benefit

Recognizing the critical role of tourism in Hawaii’s economy, the blueprint emphasizes the importance of leveraging tourism to benefit local businesses and communities. Jimmy Tokioka, director of the Department of Business, Economic Development and Tourism (DBEDT), highlighted the significance of regaining the pre-COVID levels of tourism, particularly from key markets such as Japan, to revitalize the state’s economy.

Conclusion

The 2030 Blueprint for Hawaii represents a concerted effort by Hawaii’s business community to address the state’s economic challenges and create a more favorable environment for businesses. With a focus on accountability, collaboration, and shared resolve, the blueprint aims to transform Hawaii into a thriving and resilient economy.

Call to Action:

The Hawaii Chamber of Commerce invites all stakeholders to join in this collective effort to build a more prosperous and resilient Hawaii. Businesses, government agencies, and individuals can contribute their expertise and resources to implement the initiatives outlined in the 2030 Blueprint. Together, we can create a better future for Hawaii’s economy and its people.