GUILD Consulting Forecasts Out-Migration and Technological Influx in Hawaii for 2024
GUILD Consulting anticipates an acceleration of out-migration in Hawaii, rise in ALICE households, increase in tech worker in-migration, resurgence of Native Hawaiian culture, and a shift to telemedicine in 2024. Honolulu-based firm, GUILD Consulting, has forecasted a significant increase in out-migration and technological influx in the state of Hawaii for 2024, driven by the rising cost of living and the potential for a median price of a single-family house exceeding $1 million, leading to financial hardship for households that live above the Federal Poverty Level but struggle to meet basic household necessities. The report suggests an increase in ALICE (ALICE) households, which indicate families who earn above the federal poverty level while struggling to afford basic necessities. Despite this, the quality of life in neighborhoods is expected to rebound as efforts are made to mitigate tourist-resident conflicts and shift towards a more sustainable tourism management approach. However, challenges lie ahead, with government services predicted to decline due to a lack of strategic direction and unfilled vacancies. Interest in agriculture is also expected to increase, with Maui leading the way in food security efforts. A resurgence of Native Hawaiian culture is predicted to influence governance and policy, and a shift towards telemedicine in the healthcare sector is also predicted.
Published : 4 months ago by BNN Correspondents in World
According to Honolulu-based firm, GUILD Consulting, Hawaii’s future in 2024 holds a mix of opportunities and challenges. High on the list of their forecasts is an acceleration of out-migration, driven by the state’s escalating cost of living. The firm predicts that the median price of a single-family house will exceed $1 million, pushing a significant percentage of households into financial hardship.
The report suggests an increase in ALICE (Asset Limited, Income Constrained, Employed) households which signifies families that earn above the Federal Poverty Level but struggle to afford basic household necessities. The Lahaina firestorm disaster is expected to further exacerbate this situation, leaving less than half of the households able to meet basic needs.
In contrast to the out-migration trend, the state is expected to witness an in-migration of tech workers from Silicon Valley. These professionals, benefitting from high salaries and remote work options, could potentially reshape Hawaii’s demographic composition. However, the local government is not expected to effectively utilize this influx of technical talent towards local initiatives.
Interest in agriculture is expected to surge, with Maui leading the way in food security efforts. This shift is being propelled by federal grants aimed at supporting local farmers. Despite the high cost of living, the quality of life in neighborhoods is anticipated to rebound, as efforts are made to mitigate tourist-resident conflicts and shift towards a more sustainable tourism management approach.
Challenges, however, lie ahead with government services predicted to decline due to a lack of strategic direction and unfilled vacancies. Infrastructure is also expected to bear the brunt of reduced tourism spending and shrinking maintenance budgets.
Resurgence of Native Hawaiian Culture and Shift to Telemedicine
On a positive note, a resurgence of Native Hawaiian culture and perspective is predicted to influence various aspects of governance and policy. The healthcare sector is likely to witness a shift towards telemedicine, as in-person visits become less accessible due to a decline in available physicians and specialists.