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

HONOLULU, Dec. 9, 2025—From Michael Iosua, state director for NFIB in Hawaii, on today’s release of the latest NFIB Small Business Optimism Index, which rose 0.8 points in November to 99.0 and remained above its 52-year average of 98.

“The small business economy is ending 2025 on a slightly upbeat note, which I think can be partly attributed to Main Street entrepreneurs knowing the 20% Small Business Tax Deduction will not expire at the end of this month and is, instead, now permanent. I also think the Hawaii Legislature can give this small momentum a push of its own by keeping 2026 completely free from any tax increases and additional employment mandates and other regulations. Our state has been through a lot, and a solid recovery begins by not burdening small business owners with anymore worries.”

From NFIB Chief Economist Bill Dunkelberg

“Although optimism increased, small business owners are still frustrated by the lack of qualified workers. Despite this, more firms still plan to create new jobs in the near future.”

Highlights from the Latest NFIB Small Business Optimism Index

• An increase in those expecting real sales to be higher contributed most to the rise in the Optimism Index.
• The Uncertainty Index rose 3 points from October to 91. An increase in owners reporting uncertainty about capital expenditure plans over the next three to six months was the primary driver of the rise in the Uncertainty Index.
• In November, the net percent of owners raising average selling prices rose 13 points from October to a net 34% (seasonally adjusted), the highest reading since March 2023 and the largest monthly jump in the survey’s history.
• When asked to evaluate the overall health of their business, 11% reported it as excellent (down 1 point), and 53% reported it as good (up 2 points). Thirty percent reported the health of their business as fair (down 3 points), and 5% reported it as poor (up 1 point).

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.

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.

NFIB Hawaii
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Honolulu, HI 96813
808-541-9500
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X: @NFIB_HI