Forecast: Hawaii's economy will continue to slow

Hawaii's economy will continue to slow as the state's labor, housing and tourism markets remain tepid, inflation soars and personal income growth idles, according to the latest report from the University of Hawaii Economic Research Organization.

Not much good news in this report.

Hawaii's economy isn't likely to sour as badly as it did in 1991 and 1992 after the state's last housing boom took its turn for the worse, he said.

"This is a much more stable slowing," Bonham said. "We have lots of military construction, the housing bubble wasn't as big and our population isn't downsizing. This is a slowdown; it's not a contraction."

"The housing bubble [isn't] as big"? Ahem.