19^TH Consecutive Quarter of Positive Growth Overall

View 3rd Qtr 2014 Hawaii Business Activity Report (pdf, 8 KB)

(Honolulu, Hawaii October 10, 2014) – The third quarter 2014 First Hawaiian Bank Business Activity Report (BAR) showed an overall 8.34 percent increase for debit and credit "same store sales" over the comparable period of 2013, according to an announcement by Keith Nagata, First Hawaiian Bank senior vice president and Business Services Division manager.

"We are seeing a steady upward trend with third quarter's overall growth of 8.34 percent being the highest overall quarterly increase this year to date," Nagata said. "Hotels which grabbed the top spot this quarter with 14.81 percent may have received a boost from increased visitor activity from Rimpac and the popular Japan band Arashi concert. Home Improvement's 14.58 percent was that sector's highest double-digit for any quarter, continuing a trend started in fourth quarter 2013."

According to the report, 15 out of 16 sectors had positive growth in the third quarter 2014. Hotels posted the highest increase with 14.81 percent followed by Shipping 14.74 percent, Home Improvement 14.58 percent and Utilities/Communications 12.32 percent. The last time Hotels posted double digit growth was in second quarter 2013. This was also the last time Hotels topped the list.

The BAR tracks debit and credit card sales activity in 16 different economic sectors including automotive, retail, hotel, home improvement, restaurants, shipping and travel, among other categories. The report offers a broad measure of economic activity in the state.

First Hawaiian Bank is the largest local processor of credit and debit card transactions in Hawaii. In 2013, the bank processed $4.4 billion worth of customer credit and debit card sales transactions. The bank provides merchant services to nearly 7,000 First Hawaiian Bank merchant locations throughout Hawaii, Guam, the CNMI and the U.S. Mainland.

First Hawaiian Bank (fhb.com) with total assets of $17.5 billion was founded in 1858 and is Hawaii's largest and oldest bank. The bank processes all major U.S. credit cards as well as JCB, China Union Pay and BC Global Card.