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| Aloha kākou,
As we reach the midpoint of the year, DBEDT’s work continues to center on a clear priority: building a stronger, more resilient economy for Hawaiʻi.
This month’s updates show how that work is moving forward across many areas. Our latest economic forecast points to continued growth in 2026, supported by steady labor market conditions, construction activity, infrastructure investment and visitor spending. At the same time, we are closely watching inflation and global uncertainty as we plan for the months ahead.
We also advanced efforts tied to Hawaiʻi’s long-term future. The Opportunity Zones 2.0 Market Activation Summit brought together public and private sector leaders to explore how this revamped federal incentive can attract private capital to accelerate housing, infrastructure, energy and economic development initiatives across the state. The state’s move to acquire key portions of the Wahiawā Irrigation System also marks an important step in protecting agricultural water resources and supporting local food production.
June also highlighted the strength of Hawaiʻi’s entrepreneurs and innovators. The Hawai‘i Made Conference connected local producers and businesses with resources to move products from concept to market. Through HTDC, we continue to support manufacturers, technology companies and accelerator programs helping local businesses grow.
These efforts reflect the broad role DBEDT and our attached agencies play in supporting Hawaiʻi’s economy. From community development and infrastructure to small business growth and innovation, we remain focused on creating more pathways for local businesses, workers and communities to succeed.
Mahalo to our team, partners and stakeholders for continuing this important work.
Me ke aloha,
James Kunane Tokioka
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DBEDT Forecasts Continued Economic Growth for Hawaiʻi
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| DBEDT projects Hawaiʻi’s economy will continue to grow in 2026, following stronger-than-expected growth in 2025.
According to the second quarter 2026 Statistical and Economic Report, Hawaiʻi’s economy grew by 2.5 percent in 2025, outpacing national growth. DBEDT now forecasts real gross domestic product to grow by 1.6 percent in 2026 and 1.8 percent in 2027.
The forecast points to steady labor market conditions, continued construction activity, infrastructure investment and visitor spending, while noting inflation and global economic uncertainty as areas to watch.
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Opportunity Zones 2.0 Summit Brings Leaders Together
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DBEDT, Chamber of Commerce Hawaii and the U.S. Department of Housing and Urban Development hosted the Opportunity Zones 2.0 Market Activation Summit on June 1 at the UH Cancer Center, bringing together developers, investors, government leaders and national experts to prepare Hawaiʻi for the next phase of the federal Opportunity Zones program.
The summit focused on how Opportunity Zones 2.0 may support market-ready projects tied to housing, energy, infrastructure and economic development across the state. Sessions covered program updates, investment strategies, project financing and ways to connect private capital with local priorities.
The discussion comes as Governor Josh Green begins the process of selecting and nominating 25 eligible census tracts for new Opportunity Zone designation. The new zones will take effect Jan. 1, 2027 and will remain in place through Dec. 31, 2036.
For those who missed the summit or would like to revisit the information, DBEDT has posted presentation materials from the event online here. The summit page also includes information on submitting projects for consideration as the state identifies areas where Opportunity Zone investment could have the greatest impact.
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State Acquisition of Wahiawā Irrigation System Moves Forward
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The state is taking a major step to protect one of central O‘ahu’s most important agricultural water systems.
The Agribusiness Development Corporation board approved the final terms of the Wahiawā Irrigation System Transfer Agreement, clearing the way for the state to acquire key portions of the system from Dole Food Company, Inc. and Wahiawā Water Company, Inc.
The acquisition places the system under public ownership and oversight, helping preserve a critical source of agricultural water for local farms, businesses and communities. It also creates a path for future infrastructure and safety improvements through state-level funding and long-term resource management.
The Wahiawā Irrigation System has supported agriculture in central O‘ahu for generations. Bringing it under state stewardship helps ensure this resource continues to support diversified agriculture, food security and future generations of local farmers.
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Hawaiʻi Made Conference Advances Food Innovation Across the State
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| The 4th annual Hawai‘i Made Conference brought together farmers, value-added producers, food manufacturers, entrepreneurs, supply chain partners and resource providers on June 23 at the Sheraton Waikiki Beach Resort for a full day focused on strengthening Hawai‘i’s food innovation economy.
Centered on the theme “Driving the Future of Food Innovation,” this year’s conference highlighted the Food and Product Innovation Network, a statewide initiative connecting local producers with training, product development support, shared production facilities, financing and market entry resources.
A key milestone was the signing of the Food and Product Innovation Network memorandum of agreement, bringing together 20 state departments, agencies and education partners. The agreement creates a coordinated framework to expand access to technical expertise, advanced equipment and commercialization support for Hawai‘i producers.
Sessions covered food safety, processing standards, labeling rules, financing, branding, distribution, logistics and export readiness. Attendees also visited the Mākeke marketplace, which featured Hawai‘i made products, vendor displays and organizations offering business support programs.
By connecting local businesses with the partners and tools needed to move from concept to commercialization, the conference underscored DBEDT’s role in supporting product innovation, economic diversification and market growth for Hawai‘i made products.
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HTDC Grants Support Local Manufacturers, Tech Companies and Entrepreneurs
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| HTDC is investing in Hawai‘i companies at multiple stages of growth, from manufacturers expanding production to tech firms moving research toward commercialization.
In fiscal year 2026, HTDC awarded $865,660 through its Manufacturing Assistance Program to 26 companies across the state. The awards leveraged more than $10 million in qualified manufacturing investments, helping local businesses modernize equipment, increase capacity and strengthen competitiveness.
HTDC also recommended $1.28 million in Hawai‘i Small Business Innovation Research matching grants to 19 companies working in ocean, space, health and energy technologies. The program helps local companies compete for federal research funding and move promising technologies closer to market.
Another $1 million was awarded to seven accelerator and small business training programs that provide mentorship, technical support and business development resources for Hawaiʻi entrepreneurs.
The grants support HTDC’s broader work to grow Hawai‘i’s innovation economy, strengthen local industries and help homegrown companies compete in larger markets.
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HCDA Marks 50 Years of Community Development in Hawai‘i
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The Hawai‘i Community Development Authority is celebrating 50 years of shaping communities through infrastructure, housing and economic development across the state.
Created to help guide redevelopment in areas with significant public needs, HCDA is best known for its work in Kaka‘ako, where a former industrial district has become a mixed-use community with walkable neighborhoods, public open spaces and more than 13,000 residential units, including nearly 5,000 affordable and reserved housing units.
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HCDA’s work has also expanded beyond Kaka‘ako to include redevelopment and infrastructure initiatives in Kalaeloa, He‘eia, West O‘ahu, Iwilei-Kapālama and Pūlehunui, Maui. These efforts support housing, public infrastructure, economic activity and long-range planning in areas important to Hawai‘i’s future.
As HCDA marks this milestone, the agency is also looking ahead. Recent legislation under consideration would establish new community development districts under HCDA, including Banyan Drive in Hilo and the Hālawa Community Development District.
The anniversary recognizes HCDA’s role in connecting public infrastructure investment with private development, while continuing to support communities where residents live, work and thrive.
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The state of Hawai‘i’s Operation Hire Hawai‘i (OH-HI) is making it easier and faster to start or continue a career in public service. This statewide hiring initiative connects job seekers with opportunities across multiple industries by expediting applications and referrals.
If you’re passionate about economic development, DBEDT is actively hiring! Join our team and help shape Hawai‘i’s future.
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July 2026 SBRRB Meeting – Thursday, July 16, 2026, 1 p.m.
Next month's Small Business Regulatory Review Board (SBRRB) meeting will review several Hawaiʻi Administrative Rules. The public is welcome to attend in person or virtually. For more information and the full agenda, visit sbrrb.hawaii.gov/meetings
Made in Hawai‘i Festival 2026 – August 20-23, 2026, Hawai‘i Convention Center
The Made in Hawai‘i Festival is the state’s largest and most anticipated showcase of locally made products. With more than 700 booths featuring food, fashion, art and more, the festival supports Hawai‘i’s small businesses while giving attendees a chance to shop local and connect with makers from across the islands. DBEDT is proud to serve as the event’s official government sponsor and will host a Hawai‘i Made Pavilion that will feature nearly 20 booths, providing a unique opportunity to local entrepreneurs to showcase their innovation, talent and products.
2026 Hawaiʻi Tourism Conference – Sept. 24-25, 2026
Save the date for the 2026 Hawai‘i Tourism Conference, the premier gathering of visitor industry, community and government partners to shape the future of tourism in Hawai‘i. Presented by the Hawaiʻi Tourism Authority, the conference will explore the forces shaping the industry and address how to strengthen its long‑term resilience, vitality, and capacity to enhance both visitor experiences and resident quality of life. Stay tuned for updates on the conference venue and registration information.
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For more on DBEDT and its divisions and attached agencies, please visit dbedt.hawaii.gov.
Below are links to more news from DBEDT’s core divisions, attached agencies and related programs:
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