b"2023 WPMA State Report Economy 2024 LegislationMaui has experienced a significant economic impact in the wake of the wildfire. Tourism has been Mauis leading industry, andHawaiis legislature has established six interim visitor arrivals have declined by more than 60% from over 7,000/ working groupstasked with evaluating specific topicsday to less than 3,000/day. As a result, many businesses have re- related to the Lahaina wildfire. Their draft reporting will beduced operations, including airlines, car rental companies, hotels,produced by November 1, 2023, and their final reporting isand restaurants. An estimated $13 million per day in revenues hasdue by December 15, 2023.been lost from this decline in tourism. A recent meeting of the State Council on Revenues forecast a $600 million reduction inThe Hawaii Constitution mandates that the regular legislative revenues statewide for the next fiscal year. session commence on the third Wednesday of January. While The resulting impact to Mauis residents has been severe withit is too early to identify their priorities at the time of drafting unemployment claims spiking from approximately 100/week tothis newsletter, the atmosphere heading into the 24 legislative over 4,000/week shortly after the fire. These claims have recentlysession may be one of subtle successes. Most legislators will be reduced somewhat to approximately 1,000/week. A full recoveryrunning for re-election, and economic recovery will be a large for business and employment is not projected until 2026. part of legislative discussions.Impacted Residents Considering Hawaiis rising cost of living and housing demands, we anticipate there will be efforts to reform Hawaiis tax system Many local support organizations continue their hard work andto compensate for rising income disparity. Several strategies from deployment of HEMA Members and others donation fundingprogressives include creating new income individual tax brackets to ensure impacted employees and other West Maui residents arefor the highest incomes, increasing capital gains taxes, corporate provided long-term housing until the rebuilding process is com- tax rates, and worker protections. pleted. In addition, those impacted are being provided additionalFor HEMA, we anticipate 24 legislative initiatives to include resources that include financial assistance, employment place- providing Hawaii Counties the authority to further regulate ment, medical treatment, and transportation services. tobacco and mandating additional employee leave initiatives. WPMA and its State Associations HEMA and its Members will remain diligent in working Support of Maui collaboratively on these anticipated initiatives to the mutualOn behalf of HEMA, I extend a sincere mahalo to WPMA and itsbenefit of our Member companies and our industrys customers.State Associations for their recent donations (during the WPMA Board Meeting) in support of Maui and its impacted residents. During HEMAs Board Meeting on November 3, we noted our gratitude for these donations and approved a supplemental dona- 2024 HEMAtion. Furthermore, HEMA approved the combined donation to be provided to Maui United Way, which is a Maui-based organiza-tion providing on-going relief and resources to the Maui Ohana.Golf TournamentFinally, and as an update to my prior personal note in the fallNo Fooling2024 Hawaii's golf tournament isnewsletter, I had the opportunity in mid-October to again joinApril 1st,right after the Easter holiday. To register todaymany of Aloha Petroleums Lahaina-based employees for lunchand/or for more details go to www.wpma.com/hawaii/ at our one facility that wasnt destroyed by the wildfire. I was tru-ly moved by their resiliency, positivity, and strengthening bondscalendar-of-events and mark your calendar now for thefor one another. They well-represent the overall spirit and cultureHEMA Tournament at Oahu Golf Course. exhibited by the residents of Lahaina and throughout Maui.SWPMA News / Winter 202321"