FOR IMMEDIATE RELEASE
Contact: Michael Iosua, Hawaii State Director, miosua@mkadvocacy.com
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

HONOLULU, Oct. 14, 2025—From Michael Iosua, state director for NFIB in Hawaii, on the release today of the monthly NFIB Small Business Optimism Index showing a decline of 2.0 points in September to 98.8. This was the first decline in three months, though it remains above the survey’s 52-year average of 98. The Uncertainty Index rose 7 points from August to 100, the fourth-highest reading in over 51 years.

“The silver lining in the latest Optimism Index is that it didn’t slip below its 52-year average, which is important when you consider the years it took for the index to climb back up. We hope to continue this trend but need to ensure no new regulations or compliance costs are added during the Hawaii legislative session next year.”

NFIB’s monthly Small Business Optimism Index is the gold standard measurement of America’s small business economy. Used by the Federal Reserve, Congressional leaders, administration officials, and state legislatures across the nation, it’s regarded as the bellwether on the health and welfare of the Main Street enterprises that employ half of all workers, generate more net new jobs than large corporations, and gave most of us the first start in our working life. The Optimism Index (aka Small Business Economic Trends report) is a national snapshot of NFIB-member, small-business owners not broken down by state. The typical NFIB member employs between one and nine people and reports gross sales of about $500,000 a year.

From NFIB Chief Economist Bill Dunkelberg

“Optimism among small business owners decreased in September. While most owners evaluate their own business as currently healthy, they are having to manage rising inflationary pressures, slower sales expectations, and ongoing labor market challenges. Although uncertainty is high, small business owners remain resilient as they seek to better understand how policy changes will impact their operations.”

Highlights from the Latest NFIB Small Business Optimism Index

• Supply chain and inflation issues stood out as a key problem in the report.
• Fourteen percent of owners reported that inflation was their single most important problem in operating their business (higher input costs), up 3 points from August.
• In September, 64% of small business owners reported that supply chain disruptions were affecting their business to some degree, up 10 points from August.
• The net percent of owners raising average selling prices rose 3 points from August to a net 24% (seasonally adjusted). A net 31% (seasonally adjusted) plan to increase prices over the next three months, up 5 points from August.
• One bright spot was actual earnings changes (the net percent of owners reporting higher vs. lower profits), which increased three points in September, up to its highest level since December 2021.

Keep up with the latest Hawaii small business news at www.nfib.com or by following NFIB Hawaii on X @NFIB_HI.

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

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