Nowhere in Hawaiʻi is
the loss of tourism felt more by businesses than on Maui, according to a joint survey in July by the University of Hawaiʻi Economic Research Organization and the Chamber of Commerce of Hawaiʻi. Of the respondents, 62 percent said their business was down 90 to 100 percent (essentially no revenue coming in).
. . .
The real impact of the business closures in Hawaiʻi likely has not caught up to the data so far. There have been 2,247 business dissolutions, terminations, cancellations and withdrawals from March to August 2020, according to the state Department of Commerce and Consumer Affairs. That is only 13 more than during the same timeframe in 2019.
But businesses file with DCCA annually, and do not have to file paperwork to dissolve immediately, said Jayson Horiuchi, communications officer with the department. So there is a lag time between when a business closes and when that closure is documented with the state.
More than 15 Maui businesses, including eight restaurants, have closed their doors for good due to the lack of tourism and other economic woes caused by the coronavirus. Many more Maui businesses are teetering on the brink, as government assistance programs for small businesses dry up and the...
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