Labor Market Pulse · Finance · September 2026
Finance Labor Market Report: Honolulu, HI MSA — September 2026
Honolulu finance pay splits: FP&A climbs, Controller pay cools.
Honolulu's unemployment rate fell to 2.5% even as the state's finance and insurance sector faces a forecast 1.3% job contraction, with FP&A Manager advertised pay up significantly to $129,808 while Controller pay slipped to $103,706.
Free archive edition. Published by WageScape as sent to subscribers; data as of September 2026.
Key indicators
- Honolulu unemployment rate: 2.5% — Down from 2.7% in August 2026
- Hawaii finance/insurance job forecast: -1.3% — ~200 jobs, driven by AI and digital banking
- National financial activities job losses: -129,000 — Since May 2025, per BLS payrolls
- National wage growth deceleration: 3.0% y/y — Below 3.2% forecast, September 2026
Key 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.
Median advertised pay by role — Honolulu, HI MSA
| Role | 25th percentile | Median advertised pay | 75th percentile | Metro trend | National median |
|---|---|---|---|---|---|
| Controller | $70,673 | $103,706 | $119,479 | Moderate decline | $113,754 |
| Senior Accountant | $75,546 | $84,582 | $91,773 | Moderate increase | $87,731 |
| Financial Analyst | $77,406 | $96,039 | $103,113 | Stable | $94,782 |
| Billing Specialist | $40,269 | $45,087 | $47,400 | Moderate decline | $49,512 |
| Tax Specialist | $55,000 | $80,364 | $92,802 | Significant increase | $65,842 |
| Credit Analyst | $48,880 | $59,115 | $67,600 | Moderate increase | $71,758 |
| FP&A Manager | $97,921 | $129,808 | $160,539 | Significant increase | $128,139 |
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
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.
What it means
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.
Looking ahead
Early indicator: Hawaii's unemployment rate has risen five times since January's 2.2% low despite September's dip to 2.5%; a sustained reversal would ease hiring pressure for Controller and Billing Specialist roles where metro pay has already softened.
Emerging pressure point: Finance and insurance sector job losses tied to AI and digital banking consolidation are projected at 1.3% for 2026; Finance leaders should monitor whether automation-displaced talent enters the local candidate pool for analytical and tax roles.
Worth watching: Private building permits down 34% year-to-date signal a construction slowdown that has not yet hit payrolls; a lag effect could compress demand for project-based finance and accounting support in coming quarters.
Potential inflection point: National average hourly earnings growth decelerated to 3.0% year-over-year in September, below forecast; if this cooling reaches Honolulu's finance labor market, it could ease pressure on Tax Specialist and FP&A compensation lines currently running hot locally.
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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