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Labor Market Pulse
Honolulu, HI Metro Edition
Focus: FINANCE
Honolulu finance pay splits: FP&A climbs, Controller pay cools.
2.5%
Honolulu unemployment rate
Down from 2.7% in August 2026
-1.3%
Hawaii finance/insurance job forecast
~200 jobs, driven by AI and digital banking
-129,000
National financial activities job losses
Since May 2025, per BLS payrolls
3.0% y/y
National wage growth deceleration
Below 3.2% forecast, September 2026
This Month's Takeaways
Controller pay is softening while FP&A Manager pay accelerates.
Metro Controller advertised pay sits at $103,706, down from national $113,754 and moving opposite the $129,808 FP&A Manager figure, which is up significantly both locally and nationally. This divergence is consistent with employers prioritizing forward planning and analytics capacity over traditional financial control functions.
Tax Specialist pay surge outpaces national trend by a wide margin.
Metro Tax Specialist advertised pay of $80,364 beats the $65,842 national median, both rising significantly, which may reflect Hawaii's complex multi-entity and nonprofit tax environment combined with a documented CPA and accountant shortage noted in national F&A hiring data. Organizations recruiting for tax roles locally should expect to compete above national benchmarks.
Finance sector contraction masks selective talent scarcity.
Hawaii's finance and insurance sector is forecast to shed roughly 200 jobs in 2026 from automation and digital banking consolidation, yet national F&A leaders report 74% plan to raise permanent headcount and a 2026 Talent Shortage Index of 77%. Headcount reductions at the sector level do not guarantee easier hiring for specialized finance talent in Honolulu.
Construction's wage base props up adjacent finance demand.
Construction payrolls grew 3.3% year-over-year even as private building permits fell 34%, a gap that suggests existing projects are sustaining finance and accounting support roles tied to construction clients despite a slowing pipeline. Watch whether this support demand fades as current projects complete without new permits to replace them.
Local Labor Conditions
Honolulu's unemployment rate fell to 2.5% in September from 2.7% in August, yet the metro's 0.2% projected 2026 job growth reflects Hawaii's structurally low labor force participation rather than hiring strength, and finance and insurance payrolls statewide are forecast to contract 1.3% as digital banking consolidation and AI tool adoption displace roles. Construction's 3.3% year-over-year payroll gain is sustaining demand for project accounting and finance support even as private building permits have dropped 34%, creating a bifurcated local market where talent is scarce but headcount growth is selective.
Leadership & Talent Implications
Local finance and insurance contraction alongside national financial-activities job losses (-129,000 since May 2025) means Honolulu Finance leaders face a labor market where candidate volume is more available than the 2.5% unemployment rate suggests, particularly for roles touched by automation. FP&A and tax specialist advertised pay are climbing locally even as Controller pay has softened, signaling employers are concentrating scarce compensation dollars on forward-looking analytical roles rather than traditional oversight functions. Consider reviewing headcount plans to distinguish roles facing automation displacement from those where Honolulu's tight-but-shrinking finance labor pool justifies holding or raising advertised pay.
