Key Facts
- Per Capita Real GDP
- $38,850 Rank: 17/50 (2007)
- Population
- 1,288,200 Rank: 42/50 (2008)
- Per Capita Personal Income
- $36,299 Rank: 19/50 (2006)
- Unemployment Rate
- 3.10% Rank: 6/50 (2008)
- Business Tax Climate Index
- Rank: 22/50 (2008)
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Hawaii: Introduction
The southernmost state of Hawaii lays far off the western coast of the continental United States. The nation’s only island state is comprised of a group of eight major islands and many islets in the central Pacific Ocean. Hawaii is located almost entirely over a volcanic “hotspot” which caused the formation of the islands. Magma flows from these volcanoes are still slowly adding to the land area of the state, occasionally wiping out entire villages.
During the 18th century Hawaii had a basic self-sustainable society with an economy that relied on fishing and farming. In the latter part of the 19th century, Hawaii developed a plantation-based economy that focused on cultivating products such as sugar and pineapples for export. In the 1930s, the U.S. government developed a military instillation there, and federal expenditures quickly became a major source of employment and income. Today Hawaii’s economy has shifted gears with tourism constituting the largest portion of GDP. Visitors from around the world are drawn by the state’s paradise-like beaches, subtropical climate and bountiful natural attractions such as waterfalls and volcanoes. Agriculture is another critical industry, led by the production of coffee, macadamia nuts, cattle, pineapple and sugarcane.
