Most Profitable Hawaii Small Business Niches
Hawaii is the 7th most visited city in the US, according to a recent World Atlas report. Although this exotic tourist destination is driven by hospitality, tourism, and agriculture, there has been a surge in the emergence and proliferation of small businesses in the last two decades. From agriculture and travel to rental services, hospitality, and trade, there’s so much more this city can offer beyond lush green vegetation, exotic beaches, breathtaking sights, and magnificent attractions.
- Homestay Services
The good thing about this business niche is that it has a really huge market and just about anyone can do it. You only need to spare a room or two in your posh apartment, get the necessary permits, and you’re good to go. A bed and breakfast business is one of the leading businesses in Hawaii and there’s no shortage of visitors trooping into the state and looking for a nice, cozy bed to lay their heads in after a busy day of non-stop excitement. Be sure to register your business on booking portals online for visibility.
- Vacation Rental Services
This is assuming you already have a home that you’re willing to put up for rent. Offering it to tourists on a temporary basis is a great way to make some very good income on a continuous basis with very little running capital. Just ensure that amenities are in place and get the necessary paperwork and you’re ready to dive into the flourishing world of vacation rental services.
- Customized Tour Services
This is another pretty popular business in Hawaii with good turnover as well. Visitors often require certified locals or residents to show them around and help them make the most of their visit, so why not make it official and make some good money too? You can arrange specific and customized travel plans and tours based on the interests of the visitor or tourist. If you have good money, you can set up a charter tour service, a helicopter tour service, or even road trips to different tourist attractions. For low-budget businesses, you can simply find out how to be a tour guide.
- Travel Agency
More than 10 million people visited Hawaii in 2019 alone, and although post-pandemic stress has slowed things down, the city welcomed almost 2 million visitors in the first quarter of 2022 alone. Today, more than ever, it is pretty easy to set up a travel agency, as you don’t need to own a plane or an airline. All you need is an internet-enabled computer, a functional telephone, and good communication skills. You can set this up in your home and help visitors plan their trips, book flights, hotels, and other rental needs before they even set off. Just be sure you’re duly registered and certified to operate.
- Taxi Service
Owning a taxi service is something you should also consider if you’re looking to start a business in Hawaii. If you have the money for it, get some durable, gas-efficient cars, friendly and reliable drivers, required registration and permits, and get on with it. On a typical day, there are around 200,000 thousand visitors in Hawaii who need to commute. That is too large a market to ignore, especially considering that it is a potential moneymaker for anyone committed enough to do it.
- Farming
Hawaii’s rich history of cash crops and vegetation cannot be overlooked. From sugarcane and pineapple to avocados, coffee, macadamia nuts, banana, papaya, guava, and several other crops, Hawaii is notable for its significant cash crops production. If you have arable land that’s lying fallow, you can put those to good use and become a farmer in no time. Although crops like pineapple grow wild in some parts of the Aloha state, having an organized system has a real gap to fill, especially in bars.
- Restaurant/Bar
Start with choosing the perfect location for the restaurant or bar, draw up the financial requirements, set it up, and get down to business. Restaurants, along with bars and hotels, are big money spinner in Hawaii. Just be sure you have choice recipes and add some local ingredients and dishes on your menu to wow visitors and residents as well.
- Essential services
Essential services include HVAC, Electricians, Plumbers, Rain Gutter Installation/Repair, and Roofers just to name a few. While most industries were on hold during the Pandemic these services were just too essential to be completely closed. When a pipe breaks and your house is flooding there is zero hesitation to call for help. Post-Pandemic the Essential services industry saw an increase in business due to businesses that closed needed some essential repairs before opening doors once again