On February 19, 2026, Hawaii passed new business laws aimed at fostering economic growth and attracting investment to the state. The legislative changes were announced by Governor Kai Kaholokula during a press conference at the State Capitol in Honolulu.One of the key measures introduced is the establishment of a Business Innovation Fund, which will provide financial incentives and resources to small and medium-sized enterprises (SMEs) looking to expand their operations in Hawaii. The fund will also support startups and entrepreneurs in developing innovative products and services that have the potential to drive economic development in the state.In addition, the new laws include provisions to streamline the process for businesses to obtain licenses and permits, with the goal of reducing bureaucratic hurdles and making Hawaii a more business-friendly state. The government will also offer tax incentives to companies that create jobs and invest in infrastructure projects that benefit the local community.Another significant change is the introduction of a Business Impact Assessment, which will require businesses operating in Hawaii to evaluate and report on their social and environmental impact. This measure aims to promote corporate social responsibility and sustainability practices among companies in the state.Governor Kaholokula emphasized that the new business laws are part of a broader strategy to position Hawaii as a hub for innovation, entrepreneurship, and sustainable development. He expressed confidence that these measures will help attract new investments, create jobs, and drive economic growth in the state.The announcement has been welcomed by business leaders and industry representatives, who see the new laws as a positive step towards strengthening Hawaii's economy and promoting a business-friendly environment. The Chamber of Commerce and Industries of Hawaii has pledged its support for the government's initiatives and has called on businesses to take advantage of the opportunities presented by the new legislation.Overall, the introduction of these new business laws signals a commitment by the government to foster a thriving and dynamic business environment in Hawaii, driving economic growth and prosperity for the state and its residents.