Starting a Business – Not Recommended
Hawaii is not a great place to start a business in my personal opinion. Many people try, but I think the failure rate is higher in Hawaii than other places.
Number one – there is a lot of competition in areas that matter – like tourism. If you don’t already have a successful tourism focused office open in another part of the world – to come to Hawaii and try to make it work is going to be very difficult.
The cost of business space, employees, and the high tax rates are prohibitive.
Before you attempt to start a business in Hawaii at least live here for a year first. I think a lot of valuable insight can be gained about both Hawaii residents and tourists visiting the islands, and what their needs and wants might be. You have to know your customers and you have to know what the competition is doing.
On the other hand, if you’re well-financed and have experience in whatever business area you’re going to enter – go ahead and give it a shot. Please live here for some months first though – you’ll find it a tremendous help.
If you’re interested in starting a new business go to this website – they cover it pretty well: