LIHU‘E — Hawai‘i consumers are opening their wallets a little wider than last year, according to a recent bank report that tracks same-store sales.
Statewide sales rose to $661.5 million during the second quarter, representing nearly an 8 percent increase compared to the same period last year, the latest First Hawaiian Bank Business Activity Report indicates. It follows first-quarter growth of close to 11 percent, according to Keith Nagata, FHB senior vice president and business services division manager.
“Our state’s tourism sector continues to lead our recovery,” Bob Harrison, FHB president, said in a news release. “Unfortunately, the vital construction industry continues to lag both the tourism and retail sectors.”
Convenience stores’ sales showed the greatest second-quarter increase, up 19 percent to $14.9 million, followed by hotels’ and travel activities’ sales, which logged an increase of 15 percent to $149.9 million and $32 million, respectively.
Among the weakest sectors, travel agencies recorded a 26 percent decrease in sales to $25.1 million, followed by home furnishings with a 1 percent decline to $22.7 million and insurance with a 1 percent increase to $8.9 million.
In all, 14 out of the 16 sectors in the BAR showed an increase over 2010. FHB’s BAR tracks retail sales activity in 16 different economic sectors including automobile, retail, home improvement, restaurants, shipping, travel and supermarkets, among others.
The figures are not adjusted for inflation.