On Tuesday, the University of Hawaii Economic Research Organization released a new report identifying potential opportunities for the state to diversify its economy. According to UH Manoa Professor of Economics Steven Bond-Smith, the study identifies smaller industries that are not as developed as expected, presenting opportunities for diversification. The report suggests that Hawaii could benefit from exploring ocean-based industries, including fishing, fish farming, hatcheries, boat building, port and harbor operations, and seafood packaging. By analyzing the location patterns of industries in the US and comparing them to Hawaii’s existing industry strengths, the report identifies industries that are well-suited for the state and have potential for growth.
In addition to ocean-based industries, the report also highlights opportunities to expand industries that align with Hawaii’s traditional strengths, such as hospitality, water transportation, and video production. By diversifying its economy
