Maui's economy continues to take a hit almost a year after wildfires devastated portions of the island and killed over 100 people, due to the continued drop in tourism revenue.
It's been almost a year since the deadly Maui wildfires devastated parts of the island, killing over 100 people, and wrecking havoc on the local economy.
However, the island continues to experience a "significant decrease" in tourism revenue even after suffering multibillion-dollar hit in the wake of the wildfires, according to Four Seasons Resort Maui General Manager Ben Shank.
Preliminary statistics from the Hawaii's Department of Business, Economic Development and Tourism (DBEDT) revealed that there were 179,233 visitors to Maui in May 2024, down nearly 26% from the same period a year ago, and almost 30% since May 2019.
Visitor spending that month came to $382 million, down roughly 27% from the $523.9 million spent in May 2023, according to the data. For the first five months of 2024, total visitor spending amounted to $2.19 billion, a 23.3% decline from the first five months of 2023.
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The island's "economy depends on a robust visitor industry," Shank told FOX Business, adding that nearly all the jobs on the island depend on visitor spending.
"Areas outside the fire-effected sections of Lahaina Town, such as South Maui, Upcountry, the North Shore, and Hana depend on tourism to keep their businesses afloat and locals employed," Shank explained.
Shank attributes the reluctance of travelers to return to the island to the misinformation and conflicting messages that emerged after the fires, despite the fact that most of the island is now open and fully operational.
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"There have been so many conflicting messages that it can be challenging for a visitor on the fence to feel confident in whether or not its respectful to travel to Maui," Shank said. "As our economy is heavily dependent on tourism, we continue to feel the economic aftermath and recovery for residents has been a slower build all-around."
Shank said this concern, which comes from a place of a "a genuine desire to do what is right" for the island, is ironically hurting them more and that what they need most is to boost tourism spending.
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"The power of the U.S. purchasing dollar is critical when it comes to tourism dependent communities, which in return has a positive trickle-down effect," Shank added.
In fact, airfares to Maui and hotel prices in the area have "dropped significantly," Shank said, making it an even better time to go.
