Labor Market Pulse · Finance · August 2026
Finance Labor Market Report: HI NONMETROPOLITAN AREA — August 2026
Nonmetro Hawaii unemployment climbs as Oahu finance jobs tighten.
Statewide unemployed reached 18,800 in August — the highest since September 2024 — even as Honolulu Financial Activities added 200 jobs and Financial Analyst advertised pay climbed to $84,282 locally.
Free archive edition. Published by WageScape as sent to subscribers; data as of August 2026.
Key indicators
- Statewide unemployed persons: 18,800 — Highest since September 2024, up from 18,350 in July
- Maui County unemployment: 2.9% — Up from 2.8% in July
- Construction permits vs. payrolls: -34% permits, +3.3% payrolls — Diverging trends through July 2026
- Honolulu CPI-U (year-over-year): 5.6% — Accelerated from 2.4% in January 2026
Key takeaways
Nonmetro unemployment is rising while Oahu tightens further.
Maui, Kauai, and statewide jobless figures all moved up in August, with total unemployed reaching 18,800 — the highest since September 2024 — even as Honolulu's Financial Activities sector added 200 jobs. Finance leaders in nonmetro counties may be negotiating from a different labor supply position than their Honolulu counterparts this quarter.
Construction payroll growth may not signal new project demand.
Construction employment rose 3.3% through July even as private building permits fell 34% year-to-date, a gap consistent with backlog completion rather than expansion. Budgeting nonmetro facilities or capital project costs on current construction headcount trends risks overstating available capacity next fiscal year.
Financial Analyst pay is climbing faster locally than nationally.
Metro median advertised pay for Financial Analyst roles moved up significantly to $84,282, nearly matching Senior Accountant pay and outpacing the stable national median of $82,905. Consider whether FP&A-adjacent analyst roles are absorbing skill-premium pressure typically reserved for higher-graded positions.
Tax Specialist pay divergence points to a thin nonmetro pipeline.
Metro median advertised pay for Tax Specialist fell significantly to $45,248 against a national median of $66,725, up significantly — a $21,000 gap that likely reflects scarce local demand rather than genuine cost savings. Sourcing tax specialists in nonmetro counties may increasingly require remote or hybrid arrangements benchmarked to national, not local, rates.
Median advertised pay by role — HI NONMETROPOLITAN AREA
| Role | 25th percentile | Median advertised pay | 75th percentile | Metro trend | National median |
|---|---|---|---|---|---|
| Controller | $58,161 | $104,154 | $115,354 | Significant increase | $112,500 |
| Senior Accountant | $77,216 | $84,702 | $88,435 | Moderate decline | $87,731 |
| Financial Analyst | $69,724 | $84,282 | $89,101 | Significant increase | $82,905 |
| Billing Specialist | $40,807 | $52,000 | $57,000 | Significant increase | $49,700 |
| Tax Specialist | $35,360 | $45,248 | $45,496 | Significant decline | $66,725 |
| Credit Analyst * | $53,040 | $64,480 | $64,480 | Significant increase | $72,000 |
| FP&A Manager | $99,447 | $137,500 | $137,500 | Significant increase | $127,341 |
* State-level figure shown where metro postings were too few.
WageScape's median is calibrated to correct for spurious low-value postings (reported as the 60th percentile of raw advertised pay). Download: CSV · JSON
Local market conditions
Neighbor Island counties are softening in near-unison — Maui rose to 2.9%, Kauai to 2.5%, and statewide unemployment hit its highest reading since September 2024 at 18,800 jobless, even as Hawaii County's rate eased slightly to 3.4%. Construction payrolls grew 3.3% through July even as private building permits fell 34% year-to-date, a divergence suggesting current construction headcount reflects backlog completion rather than new demand — a distinction Finance leaders modeling nonmetro cost bases should not ignore.
What it means
Rising unemployment across nonmetro counties alongside flat statewide payroll growth (+100 jobs in August) signals labor supply is loosening at the margin, even as Honolulu-based Financial Activities added 200 jobs, pulling talent competition toward the urban core. Construction's permit-to-payroll gap and Honolulu CPI-U running at 5.6% year-over-year complicate headcount cost forecasting for nonmetro operations reliant on that sector. Consider stress-testing FY27 headcount budgets against a scenario where nonmetro wage costs stay sticky even as local unemployment rises, since national F&A hiring pressure (74% planning increases, 69% paying above range) may pull nonmetro finance talent toward metro or remote roles before it responds to local softening.
Looking ahead
Worth watching: Kauai and Maui unemployment upticks are still modest in absolute terms, but two consecutive monthly increases would signal a genuine turn rather than noise. Watch September DBEDT county data before adjusting nonmetro hiring plans.
Emerging pressure point: Construction's permit collapse (-34% year-to-date) has not yet reached payrolls. A lag effect suggests nonmetro construction and related trades headcount costs could soften materially in Q1 2027, affecting capital project cost assumptions.
Potential inflection point: Honolulu CPI-U acceleration to 5.6% year-over-year, if it persists, will pressure nonmetro cost-of-living pay adjustments even where local unemployment is rising — a rare divergence worth flagging to compensation committees.
Early indicator: Minimum wage rises to $17/hour on schedule toward $18 in 2028; nonmetro service and hospitality-adjacent finance support roles (billing, AR/AP) may see compression against entry-level finance titles worth monitoring in Q4 planning.
Methodology
Advertised pay from active employer job postings, not survey data. WageScape's median is calibrated to correct for spurious low-value postings: distribution analysis shows roughly the lowest 10% of raw values are erroneous entries, so the reported median is the 60th percentile of raw advertised pay. WageScape observes 98% of U.S. job openings daily.
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