{"id":33055,"date":"2015-03-27T14:54:41","date_gmt":"2015-03-28T00:54:41","guid":{"rendered":"http:\/\/www.hawaii.edu\/news\/?p=33055"},"modified":"2021-09-23T14:38:51","modified_gmt":"2021-09-24T00:38:51","slug":"hawaii-construction-forecast-construction-building-up","status":"publish","type":"post","link":"https:\/\/www.hawaii.edu\/news\/2015\/03\/27\/hawaii-construction-forecast-construction-building-up\/","title":{"rendered":"<span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> construction forecast: Construction building up"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2015\/03\/construction-forecast-public-210x260.jpg\" alt=\"\" width=\"210\" height=\"260\" class=\"alignright size-medium wp-image-33054\" srcset=\"https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2015\/03\/construction-forecast-public-210x260.jpg 210w, https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2015\/03\/construction-forecast-public.jpg 300w\" sizes=\"auto, (max-width: 210px) 100vw, 210px\" \/><\/p>\n<p>The University of <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> Economic Research Organization (<abbr>UHERO<\/abbr>) released its construction forecast for the state.<\/p>\n<p>Last year&#8217;s construction gains were smaller than anticipated. Activity will ramp up a bit this year, as <span aria-label=\"Kakaako\">Kaka&#699;ako<\/span> condo building intensifies and new tourism-related projects add to the mix.<\/p>\n<p>The more attenuated schedule of rail building and lagging single-family development will generate a lower and later peak to the current construction cycle. <\/p>\n<p><strong>Forecast highlights<\/strong><\/p>\n<ul>\n<li>Despite the surge in <span aria-label=\"Kakaako\">Kaka&#699;ako<\/span> condo construction, residential building permits fell last year. Assuming affirmative resolution of ongoing entitlement battles for <span aria-label=\"Hoopili\">Ho&#699;opili<\/span> and Koa Ridge, single-family building will begin to pick up over the next two years.<\/li>\n<li>The non-residential side of the market has been strong. The big surge in activity is probably over, but there will be some additional growth over the next two years.<\/li>\n<li>Contracting for government construction fell off last year, and, while there are a significant number of large projects in the works, there is no indication of significant additional growth. <\/li>\n<li>Along with the dearth of new home building, sales of existing homes were also slow last year. <abbr>UHERO<\/abbr> expects price pressures to mount, although low mortgage interest rates will help with affordability. <\/li>\n<li>The construction cycle has been very stingy with job creation. <abbr>UHERO<\/abbr> expects mid-single-digit job growth for the next several years, bringing construction employment to just over 37,000 workers by 2017.<\/li>\n<\/ul>\n<p>Go the <abbr>UHERO<\/abbr> website to read the full <a href=\"http:\/\/uhero.hawaii.edu\/products\/view\/486\">public summary of this forecast<\/a>. For a more detailed analysis, <a href=\"http:\/\/uhero.hawaii.edu\/72\/subscription-form\">subscribe to <abbr>UHERO<\/abbr>&#8217;s Forecast Project<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The University of <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> Economic Research Organization (UHERO) released its construction forecast for the state.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[301,197,158,9,343],"class_list":["post-33055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","tag-college-of-social-sciences","tag-economics","tag-publication","tag-uh-manoa","tag-uhero","entry","has-media"],"aioseo_notices":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/33055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/comments?post=33055"}],"version-history":[{"count":12,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/33055\/revisions"}],"predecessor-version":[{"id":148545,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/33055\/revisions\/148545"}],"wp:attachment":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/media?parent=33055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/categories?post=33055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/tags?post=33055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}