hawaii economy

Total visitor spending declined and the value of private building permits decreased this year through September, signs that the Hawaii economy is ratcheting back.

Retail firm DFS Hawaii plans to lay off 165 of its 660 employees in three locations across Hawaii's islands, officials said. Financial losses due to decreases in the international travel market prompted the staff reductions announced Thursday, company officials said.

Hawaiʻiʻs economy grew at a slower pace than the average for the country in the first three quarters of last year and is projected to be unchanged for the fourth quarter. Meanwhile, signs point to slower growth for the state over the next several years.