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Business Appraisals in Hawaii
Hawaii, the Aloha State, became a U.S. Territory in 1898 and officially became a state in 1959. Hawaii is the world’s largest island chain, and it is the only state made up completely of islands. There are 132 islands in the state’s island chain, 7 of which are inhabited. Hawaii’s main island, Hawaii, is home to Hawaii’s most active volcano, Kilauea. The volcano has been erupting for over 30 years and expands the island by 40 acres per year. By this definition, Hawaii is the fastest-growing state in the country! The state is home to a rich culture of hula dancing, surfing, and Hawaiian hospitality. It is the only state with two official languages, English and Hawaiian. Due to its separation from the mainland, Hawaii relies on imports for food and other goods. Additionally, its beautiful tropical climate attracts tourists from all over the world.
Hawaii’s economy is unique as it relies on imports and has the highest overall cost of living in the country. This is due to Hawaii’s location and climate. According to the Bureau of Economic Analysis, in 2020 real estate accounted for 20.76% of gross domestic product. The national average for real estate is 13.95%. In agriculture, sugar cane and pineapple are Hawaii’s most valuable crops. The state also produces exotic flowers for export, coffee, macadamia nuts, bananas, guava, and other tropical fruits. Tourism is the real breadwinner for the state. According to the Hawaii Tourism Authority, in 2019 tourism was the largest single source of private capital in Hawaii’s economy. Visitor spending totaled $17.75 billion, over 20% of GDP. Hawaii’s economy is driven strongly by tourism and disposable income per capita.
Hawaii’s unique economic structure and high costs of living drive Hawaiians to work multiple jobs. These jobs often service the tourism industry, and many of them are small businesses. According to the US Small Business Administration, as of 2020, there are over 135,000 small businesses in Hawaii. This is 99.30% of all businesses! Small businesses employ over half of the private workforce in the state. These individuals work hard so they can enjoy the natural beauty of Hawaii and enjoy some time at the beach. At Peak Business Valuation, business appraiser Hawaii, we enjoy working with small businesses across the state providing business valuations in Hawaii. Reach out to us with any questions you have about a business valuation!
What Cities in Hawaii Does Peak Business Valuation Perform Business Appraisals?
At Peak Business Valuation, business appraiser Hawaii, we have jumped from island to island performing business valuations and machinery & equipment appraisals. We have recently worked in the following cities:
- O’ ahu
What Industries in Hawaii does Peak Business Valuation Perform Business Appraisals?
At Peak Business Valuation, business appraiser Hawaii, we have worked with a number of unique businesses. In Hawaii, the strong demand for real estate drives many different construction activities. We have even worked with a swimming pool construction company! In finding a business appraiser, it is important to work with someone with experience in your industry. Below is a list of industries we have worked in, including:
- Concrete Contractors
- Glass & Glazing Contractors
- Roofing Contractors
- Heating & Air-Conditioning Contractors
- Flooring Installers
- Fence Construction
- Iron & Steel Manufacturing
- Bread Production
- Textile Mills
- Apparel Manufacturing
- Shoe & Footwear Manufacturing
- Metalworking Machinery Manufacturing
- Circuit Board & Electronic Component
- Printing Services
- Machine Shops
- Automobile Wholesale
- Auto Parts Wholesale
- Jewelry & Watch Wholesale
- Lumber Wholesale
- Footwear Wholesale
- Apparel Wholesale
- Construction Equipment Wholesale
- Industrial Supplies Wholesale
- Janitorial Equipment Supply Wholesale
- Paint Wholesale
- New and Used Car Dealers
- Recreational Vehicle Dealers
- Auto Parts Store
- Tire Dealers
- Furniture Stores
- Convenience Stores
- Clothing Stores
- Jewelry Stores
- Hardware Stores
- Lumber & Building Material Stores
- Supermarkets & Grocery Stores
- Beer, Wine, & Liquor Stores
Transportation and Warehousing
- Local Freight Trucking
- Long-Distance Freight Trucking
- Moving Services
- Local Specialized Freight Trucking
- Automobile Towing
- Couriers & Local Delivery Services
- Software Publishing
- Operating Systems & Productivity Software Publishers
- Internet Service Providers
- Wireless Telecommunications Carriers
Finance & Insurance
- Auto Leasing, Loans & Sales Financing
- Life Insurance & Annuities
- Financial Planning & Advice
Real Estate, Rental, & Leasing
- Truck Rental
- Property Management
Professional, Scientific, & Technical Services
- Bookkeeping Services
- Accounting Services
- Tax Preparation Services
- Building Inspectors
- Consulting Services
- Advertising Agencies
- Engineering Services
- IT Consulting
Healthcare & Social Assistance
- Primary Care Doctors
- Physical Therapists
- Psychologists, Social Workers & Marriage Counselors
- Day Care
- Urgent Care
Arts, Entertainment & Recreation
- Arcade, Food & Entertainment Complexes
- Gym, Health & Fitness Clubs
- Bowling Centers
- Fast Food Restaurants
- Coffee & Snack Shops
- Bars & Nightclubs
- Single Location Full-Service Restaurants
- Event Planning
- Auto Mechanics
- Car Body Shops
- Dry Cleaners
- Car Wash & Auto Detailing
- Pet Grooming & Boarding
- Funeral Homes
- Security Alarm Companies
- Shoe Repair
- Cemetery Services
- Tanning Salons
- Maids, Nannies, & Gardeners
- Hair & Nail Salons
- Pest Control
Why Get A Business Valuation in Hawaii?
Perhaps you are pursuing a business opportunity in Hawaii. Maybe you need a focused path to grow in your current business. Individuals, management companies, lawyers, and others reach out to us at Peak Business Valuation, business appraiser Hawaii, for many different reasons, including:
Buying a Business
Having a second opinion on a business you are interested in is very valuable. At Peak Business Valuation, business appraiser Hawaii, we look at businesses every day. We can help you see signs of a healthy business as well as warning signs you should investigate further. A business valuation can help you offer a fair price for a business in Hawaii.
Selling a Business
Peak Business Valuation works with individuals looking to sell all or part of their business. Whether it’s time for retirement or a partnership buyout, Peak Business Valuation has worked with someone in your shoes!
Growing a Business: Annual Valuations
Measuring the value of your business is a great place to start to understand how to grow your business. Once the valuation is complete, we help business owners identify areas they can grow their business. This conversation helps business owners refocus on what will impact the value of their business the most.
We offer SBA business valuations as well as machinery & equipment appraisals in Hawaii. Many business owners in Hawaii use SBA financing to fund a business purchase. If the amount being financed is greater than $250,000, your lender will order an SBA business valuation as a mandatory part of the process. Peak Business Valuation, business appraiser Hawaii, is happy to perform these SBA business appraisals.
Peak performs business valuations for a variety of estate planning needs. Whether you plan on selling or gifting your business, it is important to understand the value of your business. We also perform business valuations in Hawaii for partnership disputes, divorce, and litigation.
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