{"id":66198,"date":"2017-09-22T14:44:21","date_gmt":"2017-09-23T00:44:21","guid":{"rendered":"http:\/\/www.hawaii.edu\/news\/?p=66198"},"modified":"2019-03-12T14:13:29","modified_gmt":"2019-03-13T00:13:29","slug":"uhero-forecast-construction","status":"publish","type":"post","link":"https:\/\/www.hawaii.edu\/news\/2017\/09\/22\/uhero-forecast-construction\/","title":{"rendered":"<abbr title=\"University of Hawai\u02bbi Economic Research Organization\">UHERO<\/abbr> forecast: Construction easing, but more in the pipeline"},"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\/2016\/02\/manoa-uhero-report.jpg\" alt=\"landscape of Honolulu harbor\" width=\"620\" height=\"159\" class=\"alignnone size-full wp-image-43334\" srcset=\"https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2016\/02\/manoa-uhero-report.jpg 620w, https:\/\/www.hawaii.edu\/news\/wp-content\/uploads\/2016\/02\/manoa-uhero-report-260x67.jpg 260w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/p>\n<p style=\"clear:both;\">The newest <a href=\"http:\/\/uhero.hawaii.edu\/\">University of Â鶹´«Ã½ Economic Research Organization<\/a> (UHERO) report focuses on construction in Â鶹´«Ã½.<\/p>\n<p>After several years of rapid expansion, the pace of building has eased. A number of significant condo and retail projects have wrapped up on <span aria-label=\"Oahu\">O&#699;ahu<\/span>, while fewer new buildings have broken ground, resulting in an overall reduction in construction activity and employment. But statewide there remain enough new projects in the pipeline to maintain construction activity near its current level through the end of the decade.<\/p>\n<ul>\n<li>Residential building has plateaued as the <span aria-label=\"Kakaako\">Kaka&#699;ako<\/span> condo boom eases, but a new wave of towers in the Ala Moana area and growing suburban development should sustain homebuilding near current levels. <\/li>\n<li>The pace of home buying has accelerated, but the high end of the market is softening. <\/li>\n<li>Resort renovation and development have been leading components of non-residential construction.<\/li>\n<li>Despite the recent closure of two big-box stores and the ongoing squeeze from online retailers, there is considerable retail and commercial development planned for the next several years, particularly on <span aria-label=\"Oahu\">O&#699;ahu<\/span>.<\/li>\n<li>Public construction is expected to settle slightly below the ten-year peak reached in 2016.<\/li>\n<li>Costs to build in <span aria-label=\"Hawaii\">Â鶹´«Ã½<\/span> remain very high, but the plateauing of building activity has reduced the pace of further cost escalation. <\/li>\n<li>Real income and employment in the construction sector have declined this year.<\/li>\n<\/ul>\n<p>For the full <a href=\"http:\/\/uhero.hawaii.edu\/products\/view\/576\">public summary go to the <abbr title=\"University of Â鶹´«Ã½ Economic Research Organization\">UHERO<\/abbr> website<\/a> and for a detailed analysis, subscribe to <a href=\"http:\/\/uhero.hawaii.edu\/72\/subscription-form\"><abbr>UHERO<\/abbr>&#8217;s Forecast Project<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After several years of rapid expansion, the pace of building has eased, but there are enough new projects to maintain construction activity.<\/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":[301,197,9,343],"class_list":["post-66198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","tag-college-of-social-sciences","tag-economics","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\/66198","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=66198"}],"version-history":[{"count":6,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/66198\/revisions"}],"predecessor-version":[{"id":92464,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/posts\/66198\/revisions\/92464"}],"wp:attachment":[{"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/media?parent=66198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/categories?post=66198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hawaii.edu\/news\/wp-json\/wp\/v2\/tags?post=66198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}