September 6, 2017 — KAILUA-KONA, Hawaii — Hawaii is neglecting a “hidden economy” by significantly undervaluing its nearshore fisheries both economically and culturally, according to a recently published report.
“Follow that fish: Uncovering the hidden blue economy in coral reef fisheries” was compiled by the Department of Natural Resources and Environmental Management at the University of Hawaii at Manoa and Conservation International, Center for Oceans. Researchers at Arizona State University also contributed to the report released in August.
The report states that because of the inherently “remote and dispersed” nature of nearshore fisheries, they have been studied more sparsely and thus are not understood as well as industrial fisheries.
According to the report, the economic benefits of nearshore fisheries around islands throughout the Pacific Ocean are often significantly underestimated. As a factor of gross domestic product, these fisheries are typically five times more valuable than their country’s recognize.
Researchers estimated the annual value of Hawaii’s nearshore fisheries at between $10.3-$16.4 million, adding they produce roughly 7.7 million meals per year.