Lack of tourism affecting Oahu's retail storesUPDATED 6:28 PM HST Mar 30, 2014Video Transcript
Oahu's retail stores are feeling the pinch early this year. The closure of Price Busters-- and the lack of tourism spending has far reaching affects on Hawaii's retail market. KITV4's Nana Ohkawa reports. 36 115 The closure of eight Price Busters stores in January brought down the Honolulu Retail Market according to Colliers International Report. 90-thousand square feet of retail is left empty. Parking lots at shopping centers like Dillinigham Shopping Plaza where Price Busters used to be are less crowded. And its mirrored the slow sales Waikiki retailers recorded. Colliers says merchants of apparel, jewelry and souvenir in the area became weaker in the first quarter of 2014. Kaui Kuaiwa 138 TYPICALLY WE WOULD TRY TO BE ABOVE WHAT WE SET OUR GOAL AT LATELY DURING THE EARLIER MONTHS OF THIS YEAR WE'VE BEEN BELOW OR JUST MAKE THE GOAL WE'VE SET 46 The Hawaii Tourism Authority says theres been a leveling off of this years arrivals. With about three hundred fewer air passengers per day. Once here... tourists are spending on average 16 dollars less during their trip this year compared to last. Kaui Kuaiwa 201 TOURISTS GREATLY OUT WAY LOCAL PEOPLE BY 70 40 PERCENT SO WE REALLY RELY ON TOURISTS ESPECIALLY AT THIS LOCATION 210 Despite the slowing of tourism spending local stores are optimistic -- banking on the local economy to strengthen. Azia Bird - Manager 1313 FROM JANUARY TO FEBRUARY WE HAVE BEEN SLOWER BUT ITS ALWAYS EXPECTED TO PICK UP USUALLY DURING SPRING BREAK INTO SUMMER 21 The HTA says it expects the markets from the West and East United States to continue to decline in 2014--- but hopes to grow strength in international markets with Korea and China.