As our regular readers know, Bank of Hawaii Chief Economist Paul Brewbaker is among the finest sources of data on the economy of the State of Hawaii. He released his latest report on April 30 and as usual it is full of useful information.

Here are some of his key findings:

The following factors will cause growth in Hawaii to nearly stop; withdrawal of two cruiseships, closure of Molokai Ranch and Aloha Airlines and ATA shutdowns. These will in turn cause tourism to fall almost 4% in 2008. The crisis in financial markets is already beginning to ease.  Foreigners, other than Canadians, are still not flocking to Hawaii despite the falling US dollar. As always, the full report is worth reading.