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REID details recent studies, the '22 I‑O benchmark and a consumer debt report
Summary
REID told the Committee it led research for the business revitalization task force (Act 142 of 2024), maintains an in‑state input–output model published as a '22 benchmark report (2025), and released a consumer debt analysis showing mortgage-driven debt is higher than national averages but with lower default rates.
At the Committee's informational briefing, Joe Rouss, branch chief of REID's economic research branch, reviewed recent REID projects and publications and the division’s role executing legislatively mandated studies. He told members that "Act 142 of 2024 session laws required a business revitalization task force" and that REID led the research portion and published recommendations on its website.
Rouss also described REID’s in‑state input–output model and the '22 benchmark report updated in 2025 using 2022 Census data. On household finances, he summarized a consumer debt report that found Hawaii’s total household debt is driven largely by mortgages and higher debt loads than the U.S. overall, but with lower default rates. Committee members asked how these findings inform policy and whether REID can sustain more frequent or deeper comparative studies across states.
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