Hawaii Visitor Industry and Public Health Update

Update Since July Since the last financing, the State's economy has held steady Resilient Economy Pension OPEB Council on Revenues Projections STATE OF 1959 Monthly Unemployment Rate Building Permits Single Family Home Prices (Oahu) Single Family Home Sales (Oahu) Pre-Testing Start Date Federal COVID-19 Funding K-12 Education July 2020 13.4% (June) October 2020 12.5% (August) $233,994,000 (6-month average until May) $261,159,000 (6-month average until July) $797,000 (May) 248 (May) 8/1/2020 (Tentative) $8.1 billion Blended Learning $880,000 (September) 391 (September) 10/15/2020 (Firm) $10.1 billion Blended Learning Investment Returns Market Value of Assets Investment Returns Fund Balances 1.26% (FY 2020) $17.2 billion (FY 2020) 2.0% (FY 2020) $2.3 billion (6/30/2020) 6.9% (FY2021 YTD) $18.2 billion (As of 8/31/2020) 6.2% (FY2021 YTD) $2.4 billion (As of 8/31/2020) FY 2021 FY 2022 FY 2023-2026 -12.0% 12.0% 3.0%, 3.0%, 3.0%, 3.0% Budget Controls Budget Restrictions 7% Budget, 5% Contingency Restriction & Hiring Freeze Total Balances (1) FY2021 & FY2025 $753.5 & ($281.8) million 3 (1) Includes General Fund ending balance, Emergency & Budget Reserve Fund (EBRF) and Hawaii Hurricane Relief Fund (HHRF). -11.0% 8.5% 6.0%, 4.0%, 3.0%, 3.0% 5% Budget, 5% Contingency Restriction & Hiring Freeze $805.4 & $348.6 million HAWAI

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