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Over 1.2 million people make Hawaii the 42nd most populous state. Major cities include the state
capital Honolulu, with a population of over
370,000, Hilo, Kailua, Kaneohe, and Waipahu. Because of its magnificent beauty and tropical climate,
the Aloha State draws many visitors from around the world. As a result, tourism is the leading
industry.
Hawaii’s climate provides ideal conditions for its agricultural products. The Aloha state produces
pineapples, sugarcane, papaya, macadamia nuts, coffee, greenhouse vegetables, flowers, and nursery
products. Additionally, cattle and dairy aid the economy. As a result of these products, food
processing is of great importance. Commercial fishing for tuna and aquaculture of algae, shellfish,
and other species are also significant resources for Hawaii’s economic base.
Hawaii’s mineral wealth includes stone, clay, and glass products, as well as manganese nodule
mining.
Defense is also important to Hawaii’s economy. The United States military command for the Pacific
is headquartered at Camp Smith on the island
Oahu. Military personnel at Camp Smith and other military bases provide Hawaii with purchasing
power.
In 2005, Hawaii had a per capita personal income (PCPI) of $34,468. This PCPI ranked 19th in the
United States and was 100 percent of the national average. The average annual growth rate of PCPI for
Hawaii from 1995 to 2005 was 3.3 percent while the average annual growth rate for the nation was 4.1
percent. Hawaii has a homeownership rate of 59.8 percent and an annual unemployment rate of 2
percent, the lowest unemployment rate in the nation. The median family income in 2005 was $58,112,
and the cost of living index for the state ranks above the national average. Hawaii has a state sales
tax of 4 percent, and personal income taxes range from 1.4 percent at the lowest and 8.25 percent at
the highest.
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