DBEDT E-newsletter – February 2025

Aloha kākou,

As we move further into 2025, it’s inspiring to see how collaboration continues to shape Hawai‘i’s path forward. This month’s newsletter highlights several initiatives that demonstrate how partnerships between government, business, and community organizations can drive progress. From the Hawai‘i State Energy Office’s new study on alternative fuels to the Generational Economy Report produced with UHERO, these efforts provide valuable insights to guide our future.

The current legislative session also presents opportunities to advance our state’s priorities. Proposals include supporting agritourism, assisting small businesses with innovation and technology, and fostering economic diversification through the film and media industries. These initiatives are designed to strengthen Hawai‘i’s economy while ensuring long-term resilience and prosperity.

Mahalo for your continued dedication to building a vibrant and sustainable Hawai‘i.

Me ke aloha,
James Kunane Tokioka

HSEO Alternative Fuels, Repowering and Energy Transition Study Released

The Hawaiʻi State Energy Office (HSEO) recently released the Alternative Fuels, Repowering, and Energy Transition Study, proposing liquefied natural gas (LNG) as a transitional fuel to lower electricity costs, improve grid reliability, and support the state’s renewable energy shift. Chief Energy Officer Mark Glick emphasized that efficient power generation using bridge fuels like LNG could reduce consumer costs while advancing Hawaiʻi's Renewable Portfolio Standard (RPS) goals.

The study found that local energy production alone may not meet future demands, requiring continued energy imports even after achieving 100% renewable energy. It also noted that reliance on low-sulfur fuel oil increases carbon emissions and that current thermal capacity projects could drive up electricity prices or prolong fossil fuel dependence.

Using LNG in more efficient plants could cut carbon intensity by up to 44%, but the study stresses that strict policies are needed to ensure LNG remains a temporary measure. HSEO is engaging stakeholders to refine the strategy, address regulatory challenges, and secure investments for an affordable, resilient, and sustainable energy future.

To learn more about the findings and recommendations, read the full study.

NELHA Hires Executive Director

READ Partners with UHERO on Generational Economy Report

The Research & Economic Analysis Division (READ) collaborated with the Economic Research Organization at the University of Hawaiʻi (UHERO) to produce a report on Aging and Hawaiʻi’s Generational Economy. The report examines the economic impact of the state’s aging population, projecting that one in four residents will be 65 or older by 2035. The study highlights how children and kūpuna rely heavily on public and private support, while working-age adults typically contribute more than they consume. Key challenges include strengthening healthcare, pensions, education, and economic security. The findings aim to guide policymakers in addressing demographic shifts and resource allocation.

Protect Your Business with Free Cybersecurity Support

CyberSafe Hawai‘i is a free, 8-week cybersecurity program that helps small businesses across the state strengthen their digital defenses. Valued at over $5,000, this self-paced program equips businesses with the tools and training needed to safeguard sensitive information and defend against cyber threats.

Eligible businesses must be Hawai‘i-based with 50 or fewer employees or a nonprofit generating revenue and commit to enrolling with a small business resource partner if not already working with one.

For more information and to apply, visit cybersafehawaii.org.

$20 Million Boost for Small Business Support

The Hawai‘i Technology Development Corporation (HTDC) and Hawai‘i Green Infrastructure Authority (HGIA) have secured an additional $20.5 million in federal funding for the Hawai‘i Small Business Capital Program (HI-CAP), bringing total program funding to $40.3 million. HI-CAP offers four initiatives to bridge the access to capital gap for small businesses and non-profits statewide: HI-CAP Collateral – a credit enhancement program providing cash collateral to support loans made by Participating Lenders; HI-CAP Loans to co-finance transformative, impactful projects; the HI-CAP CDFI Loan Program for flexible lending to very small businesses; and HI-CAP Invest, a “Funds of Funds” Venture Capital program.

Eligible businesses include Hawai‘i-based enterprises with fewer than 500 employees across sectors like technology, renewable energy, manufacturing, and agriculture.

Governor Green recently signed an executive order for Operation Hire Hawai‘i, an expedited hiring process aimed to provide opportunities for individuals impacted by layoffs, resignations, loss of federal funding, and other interested job seekers. To learn more about the positions available, please visit dbedt.hawaii.gov/careers. We encourage all job seekers to apply online and join the DBEDT ‘ohana!

HTA Spring 2025 Tourism Update – March 5, 2025 at 8:00am HST
The Hawaiʻi Tourism Authority’s Spring Tourism Update is scheduled for Wednesday, March 5, from 8 a.m. to 12 Noon at the Hawaiʻi Convention Center. HTA will explore insights, provide updates on marketing activities, and discuss destination stewardship initiatives. More information is available at HawaiiTourismAuthority.org.

Film Project Submissions Deadline – March 21, 2025 at 4:00 p.m. HST
Hawai‘i’s Creative Industries Division is accepting film project proposals to support local talent and promote the state’s creative economy. Open to projects in all stages of development. Learn more!

HTA Community Partnership Program Submissions Deadline – April 1, 2025, 4:30pm HST
HTA is inviting applications for its community partnership programs supporting natural resources, culture, festivals, and signature events statewide. Projects scheduled between July 2025 and June 2026 are eligible. Applications must be submitted through HTA’s digital portal, ‘Umeke, Powered by Hawai‘i Tourism Authority, by April 1, 2025.

3rd Annual Made in Hawai‘i Conference – May 20, 2025 - NEW DATE!
Save the date for the 3rd Annual Made in Hawai‘i Conference, "I Ka Mākeke! Going to Market!" Explore local and international market opportunities, e-commerce strategies, and success stories from Hawai‘i entrepreneurs.

For more on DBEDT and its divisions and attached agencies, please visit dbedt.hawaii.gov

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