At the outset, 2024 is looking like a year of transition. There are numerous big projects and big changes underway in Hawaiʻi's economy, but none are expected to see completion this year.
Pacific Business News reporters say they are keeping an eye on such things as the Aloha Stadium redevelopment. This will radically change its Salt Lake neighborhood, but for 2024, the only changes will be on paper.
The state is currently gathering a list of qualified developers it feels could submit a viable proposal. Those entities will be selected in April and will have until this summer to submit their initial plans. A developer for the project could be chosen by the end of the year.
PBN is also keeping an eye on downtown Honolulu’s steady transformation. As reported previously, projects worth a combined $500 million are planned or underway.
As 2023 ended, we learned that the shuttered downtown Walmart was under contract, but it remains to be seen what will happen to this high-profile parcel.
The acquisition of Hawaiian Airlines by Alaska Airlines could shake up the travel industry in Hawaiʻi, but probably not this year. The sale, announced in December 2023, could take 12 to 18 months to complete.
And of course, there is Lahaina.
PBN reported estimates ranging from two years to 10 for when we might see significant rebuilding there.
What we will see in 2024 is a focus on housing the displaced Lahaina residents in more permanent situations than the temporary quarters they have been using since the August wildfires.
