Economy
The largest city and airport in the Hawaiian Islands, Honolulu acts as a natural gateway to the islands' large tourism industry, which brings millions of visitors and contributes $10 billion annually to the local economy. Honolulu's location in the Pacific also makes it a large business and trading hub, particularly between the East and the West. Other important aspects of the city's economy include military defense, research and development, and manufacturing.
Among the companies based in Honolulu are:
- Alexander & Baldwin
- Bank of Hawaii
- Central Pacific Bank
- First Hawaiian Bank
- Hawaii Medical Service Association
- Hawaii Pacific Health
- Hawaiian Electric Industries
- Matson Navigation Company
- The Queen's Health Systems
Go! Mokulele, Hawaiian Airlines, Island Air, and Aloha Air Cargo are headquartered in the CDP. Prior to its dissolution, Aloha Airlines was headquartered in the CDP. At one time Mid-Pacific Airlines had its headquarters on the property of Honolulu International Airport.
In 2009, Honolulu had a 4.5% increase in the average price of rent, maintaining it in the second most expensive rental market ranking among 210 U.S. metropolitan areas.
Since no national bank chains have any branches in Hawaii, many visitors and new residents use different banks. First Hawaiian Bank is the largest and oldest bank in Hawaii and their headquarters are at the First Hawaiian Center, the tallest building in the State of Hawaii.
Read more about this topic: Honolulu
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)