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

HONOLULU, May 12, 2026— From Michael Iosua, state director for the National Federation of Independent Business (NFIB) in Hawaii, on today’s release of NFIB’s monthly Small Business Economic Trends (SBET) report showing it falling below its 52-year average of for the second month in a row. April’s 95.9 reading came in under the 98.0 historic average.

“The latest small business economic trends report didn’t hold out much good news for the Main Street economy, but one month’s slip does not necessarily indicate a pattern, so a lot remains to be seen. Congress making the 20% Small Business Deduction permanent and the Hawaii Legislature holding firm against too much tax and regulatory burdens are a couple of positive signs that could point to better small business economy reports in the coming months.”

The NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB), not broken down by state.

From NFIB Chief Economist Bill Dunkelberg

“Inflationary pressures continue to be a challenge for Main Street. While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months.”

Highlights from the April SBET Include:

• The Employment Index fell in April, from 101.6 to 100.4. This is the second month in a row of decline. The current reading is now below the 2025 average of 101.2 but still slightly above the historical average of 100.0
• In April, reports of both actual and planned price increases rose. The net percent of owners raising average selling prices rose 5 points from March to a net 30% (seasonally adjusted), well above its historical average of net 13%. Looking forward to the next three months, a net 27% (seasonally adjusted) plan to increase prices, up 3 points from March.
• The net percent of owners expecting better business conditions fell 7 points from March to a net 4% (seasonally adjusted). This was the fourth consecutive monthly decline in expected business conditions and the lowest level since October 2024.
• In April, 7% (seasonally adjusted) reported that it is a good time to expand their business, down 4 points from March and the lowest level since October 2024.

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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