Here are the major findings: 

Hawai'i's economy will hit a soft patch this year on a slight dip in visitor arrivals, according to a University of Hawai'i economic forecast released today. That should be followed by a return to moderate growth next year as visitor arrivals rebound slightly, said the University of Hawai'i Economic Research Organization. The forecast is generally in line with expectations of other local economists, who generally predict slowing economic growth but no recession for the state…So far the visitor industry has gotten off to a poor start, while the outlook for the rest of the year is tempered by weak conditions in the U.S. economy, according to UHERO. Visitor arrivals, which were previously expected to rise 0.8 percent this year, now are projected to fall 0.2 percent followed by 1.6 percent growth in 2008-09. Visitor days, which take into account length of stay, are expected to decline by 0.5 percent this year before strengthening to a bit more than 2 percent growth in 2008-09.

Not great news, but somehow we'll survive!