06/11/2025 | Press release | Distributed by Public on 06/11/2025 20:34
Hawaiʻi's economy could lose over $750 million in tourism spending
TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, has released an economic impact analysis of the short-term rental market in Hawai'i County. The report, conducted by Hawai'i-based hospitality and economic consultant firm Kloninger & Sims, analyzed visitor spending data from guests at short-term rentals on Hawai'i Island in 2023.
"This study confirms the vital role short-term rentals play in the economy of Hawaiʻi County," said David Edmonson, TechNet Senior Vice President of State Policy and Government Relations. "Given the recent passage of Bill 47 and the fact that the County Council is contemplating future proposals to regulate the industry, it will be important to avoid unintentional consequences that would harm the local economy, especially during these uncertain times."
Key Findings:
Economic Activity - Hawai'i County
Direct Spending - Hawai'i County
Job Creation- Hawai'i County
Fiscal Impacts - Hawai'i County
Policy Impacts - Hawai'i County
Statewide Impacts
"Short-term rentals represent a substantial part of the island's tourism sector," said Erik Kloninger, partner at Kloninger & Sims Consulting. "The economic and fiscal impacts as well as the jobs generated by this industry would surely be adversely affected if proposed policies result in a reduction of inventory and visitor arrivals."
Read the full report here .