Isles’ unemployment rate dipped to 6.6% last year

Hawaii ranks seventh lowest in the country; 6 percent joblessness forecast for this year

By Star-Advertiser staff
Article from: Star-Advertiser

Hawaii’s unemployment rate fell slightly in 2010 to 6.6 percent, the seventh lowest rate in the country.

Last year’s rate was down from 6.8 percent in 2009, but up from 4.1 percent in 2008, the U.S. Bureau of Labor Statistics reported yesterday.

Hawaii’s job market should continue to strengthen this year, knocking the rate down to 6 percent, according to the University of Hawaii Economic Research Organization. The UHERO forecast released earlier this month calls for the rate to drop further to 5.3 percent in 2012 and 3.8 percent in 2013.

Hawaii’s rising unemployment rate from 2007 through 2010 was the result of the recession and a weak recovery that was not robust enough to “generate satisfactory job creation,” UHERO economists wrote in a report.

The economists said they expect the labor market to pick up, in part, because of the jobs that will be generated by the city’s rail project.

“The feeble job gains of the past year do not portend continuing labor market stagnation. Instead, more broadly based improvement will be seen in 2011 and 2012 as the Hawaii recovery strengthens and Oahu rail transit construction gets under way,” they wrote in the report.

The bureau report included revisions to the monthly unemployment data for 2010. Hawaii’s rate was higher in five months and lower in three months than originally reported. It was unrevised in four months.

One of the downward changes was for December, in which the bureau revised the rate to 6.3 percent from the 6.4 percent reported last month.

THE LOWDOWN
10 lowest unemployment rates in 2010

1. North Dakota 3.9%
2. Nebraska 4.7%
3. South Dakota 4.8%
4. Iowa 6.1%
5. New Hampshire 6.1%
6. Vermont 6.2%
7. Hawaii 6.6%
8. Virginia 6.9%
9. Kansas 7.0%
10. Wyoming 7.0%
U.S. average 9.6%

Kihei and Lahaina among top vacation rental spots

By Erika Engle
Article from: Star-Advertiser

Renowned travel site TripAdvisor has named Kihei and Lahaina, Maui, to its Top Vacation Rental Hot Spot list for 2011.

The list is based on search data and input from site editors.

“Vacation rentals can offer families and groups of travelers significant savings over other accommodation options,” said Hank Hudepohl, director of vacation rentals, in a statement. “Our list shows off some of the best vacation rental destinations in the U.S. where travelers can save big, ranging from prime summer beach spots to areas with first-rate ski resorts.”

Kihei was ranked No. 4, behind Kissimmee, Fla., Big Bear Lake, Calif., and Gatlinburg, Tenn. Destin, Fla., Palm Springs, Calif., and Outer Banks, N.C., ranked fifth, sixth and seventh, followed by No. 8 Lahaina. Hilton Head, S.C., and Cape Cod, Mass., fill out the top 10.

The list cites the number of vacation rentals TripAdvisor lists in each destination as well as the potential savings a family could realize for a weeklong trip.

Despite the high profile of a particular annual vacation rental guest, Kailua, Oahu, is not among TripAdvisor’s top 10. Its site lists only 94 vacation rentals in Kailua and 19 in neighboring Lanikai.

Visitor arrivals up 12% in January, spending up 20%

By Allison Schaefers
Article from: Star-Advertiser

Hawaii achieved its eleventh consecutive month of increased visitor spending and arrivals in January, according to preliminary statistics released today by the Hawaii Tourism Authority.

A high-single digit increase from the U.S. East and double-digit arrivals growth from the U.S. West, Japan, Canada and cruise ships helped boost visitor arrivals last month to 597,487, up 12.2 percent from a year ago. Likewise, visitor spending rose to $1.2 billion, a 19.8 percent gain from the prior year. January’s gain represented the 9th consecutive month of double-digit increases in overall spending.

The return of the Pro Bowl coupled with a slight pickup in meetings, convention and incentive traffic were behind the industry rebound, said Mike McCartney, HTA’s president and CEO. Stronger airplane passenger loads and increased flights also contributed, McCartney said.

“We look forward to taking advantage of rebounds in this market, as well as continued growth and interest in Hawaii as a global meetings destination as we draw closer to hosting the 2011 APEC Leaders Summit in November,” he said.

Heavy traffic from Elton John concert anticipated

Article from: The Maui News
February 23, 2011

KAHULUI – The Elton John concert is expected to generate heavy traffic Thursday and Friday when concert-goers converge on the Maui Arts & Cultural Center.

Gates to the concert area will open at 6 p.m. Thursday and 5:30 p.m. Friday.

Reserved parking passes for the center’s lot have been sold for $25 each. If extra spaces are available, those will be sold for $25 cash, according to the center.

Parking in the main lot at the University of Hawaii Maui College also has been pre-sold for $15. Parking also will be available on the day of the show for $15 cash at the college’s drive-in field parking lot off Wahinepio Avenue and at Keopuolani Park, which will be closed to the public.

Parking lots will be open at 3 p.m., and spaces will be available on a first-come, first-served basis.

Tax credits could lead to Maui film studio

February 21, 2011 – By ILIMA LOOMIS, Staff Writer
Article from: The Maui News

WAILUKU – A Hollywood production company is proposing to develop film studios on Maui and Oahu – if the state Legislature approves new tax credits for film infrastructure development.

Officials with Relativity Media told lawmakers in Honolulu earlier this month that they hoped to start work on a 31-acre Maui film studio later this year, and an Oahu facility of the same size in 2012. They urged legislators to adopt the proposed tax credits.

Under draft legislation being considered in the House of Representatives, developers could receive a tax credit of 25 percent of their costs for “media infrastructure projects” in Honolulu, or 40 percent for projects in Neighbor Island counties.

“The question is, what is the state getting back? The answer is jobs, jobs and jobs,” said West Maui Rep. Angus McKelvey, who introduced the bill along with Central Maui Rep. Gil Keith-Agaran and Waikiki Rep. Tom Brower.

Lawmakers made changes in the bill to address concerns, including eliminating a proposal to significantly increase tax credits for film production, and adding a provision that would allow the state to reclaim its credits if the film doesn’t go forward, and other taxpayer protections, McKelvey said.

While there was still resistance to approving new tax credits while the state struggles with a budget deficit, he said the proposal had an “excellent” chance of moving forward.

“I’m really going after this, because I see this has a major potential impact to the state of Hawaii,” he said. “But it’s got to be done right.”

House Bill 1551 was passed out of the House Economic Revitalization and Business Committee on Thursday and referred to the House Finance Committee.

A similar proposal is moving forward in the state Senate, although without a specific amount of tax credits attached.

Senate President Shan Tsutsui, who represents Central Maui, said legislators were taking a cautious approach to the proposal.

“I think it’s still early,” he said. “It’s kind of a new concept, and we want to see what the economic impact would be.”

He said he had asked colleagues to allow the bill to move forward to get more information from film studios and from state finance officials about what the tax credits would cost.

“We think this may be a possibility to benefit Maui,” he said. “We’re looking at ways to create jobs, and this might be one of them.”

Senate Bill 1550 has been passed out of the Senate Committee on Economic Development and Technology and the Tourism Committee, and referred to the Ways and Means Committee.

In their presentation to the legislators, Relativity Media officials said they hoped to build a 31-acre film studio on Maui, with an additional 10-acre back lot. (They did not provide a specific location on the island for the project.) The studio would include 10 18,000-square-foot stages, along with production and post-production office space. The entire project would have a $193 million production budget, according to the presentation.

A second, identical facility was proposed for Oahu.

In a handout with the company presentation, Relativity Media says it has released 126 films and earned $15.3 billion in worldwide box-office receipts. Films listed include “The Fighter,” “Mamma Mia!,” “Despicable Me,” “Iron Man” and “Hancock.” The company has film studio, television, music, digital media and talent management divisions.

Company officials said they planned to partner with Shangri-La Business Group on construction of the studios.

McKelvey said the proposal was being driven by people in the film industry who wanted to bring their operations to Hawaii. He said many film professionals already live part time in Hawaii, and many would prefer to work here as well, noting that Relativity Media founder Ryan Kavanaugh owns a home on Maui.

“Once the studio’s done, you can do a film from beginning to end in the state of Hawaii without going back to California,” McKelvey said.

The bills pending before state lawmakers also have the support of the administration of Mayor Alan Arakawa, said county spokesman Rod Antone.

“The film-related measures before the Legislature will benefit the entire state of Hawaii if passed by greatly expanding the film industry here,” he said. “It has the potential to put many people back to work and to train many more for well-paid movie and television production positions.

“We know our representatives and senators understand this,” he said.