50 in 50: Hawaii

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $73.9 billion

GDP: $73.9 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): -1.6% (U.S: 1.6%)

GDP per capita: $52,708 (U.S.: $58,154)

Population: 1.4 million

Population 5-year CAGR (2017-2021): 0.3% (U.S.: 0.5%)

Unemployment: 4.2% (U.S.: 3.9%)

Economic outlook ranking: #43 out of 50

Fiscal health ranking: #46 out of 50

Overall tax climate ranking: #41 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

GDP ($ billions)
% of total GDP
Real estate and rental and leasing
State and local
Accommodation and food services
Health care and social assistance
Retail trade

Top three industry sectors by GDP 5-year CAGR (2017-2021):

GDP 5-year CAGR
Finance and insurance
Health care and social assistance

Top metro areas by GDP:

  • Wilmington (Considered a metropolitan division and part of Philadelphia-Camden-Wilmington MSA)
  • Dover

Top three areas by population 5-year CAGR (2016-2020):

  • Hilo (Micropolitan Statistical Area)
  • Kahului-Wailuku-Lahaina
  • Kapaa (Micropolitan Statistical Area)

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2019): D+

According to the ASCE, the infrastructure for stormwater, drinking water, wastewater, roads, schools, and dams in Hawaii is considered mediocre or poor. The state has also a relatively high rate of power outages. As it relates to transportation infrastructure, Hawaii is among the U.S. states with the least percentage of roads and bridges in good condition, having each motorist pay an average $818 per year in costs due to driving on roads in need of repair. One of the priorities for the Bipartisan Infrastructure Law (BIL) in the state will be the Honoapiilani Highway, which is planned to be moved inland due to coastal erosion and sea level rise. Many other projects have been identified and a few are underway.

Hawaii will receive at least $2.6 billion from the BIL over the next five years, divided into the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Improvement Area
$1.2 billion
Roads and highways
$390 million
Water infrastructure
$339 million
Bridges replacement and repair
$312 million
Public transportation
$246 million
$100 million
Broadband (minimum allocation)
$18 million
Electric vehicle (EV) charging network
$11 million
Cyberattacks protection
$4 million
Wildfires protection

Construction spending (Value of Construction Put in Place – CPiP):

  • Private Nonresidential 2020 CPiP: $895 million; -15.3% 5-year CAGR (2016-2020), below overall U.S. CAGR of 2.0%
  • State & Local 2020 CPiP: $3.3 billion; 10.9% 5-year CAGR (2016-2020), above overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2022): One

M&A activity since 2018:

  • One deal with buyer from Hawaii
  • Three deals with sellers from Hawaii

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.

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