The Fisheries of Hawaii and U.S.-associated Pacific Islands

In the late 1980's and early 1990's, significant changes occurred in the fisheries of Hawaii. Expansion and diversification of pelagic fisheries and growth (including industrialization) of fisheries that, in at least some cases, had been largely recreational or artisanall ed to fear of overfishing and problems in allocation among fishery sectors. Combined with establishment of limited entry programs in Hawaii fisheries (bottomfish, longline, and lobster), this led to anticipation that similar growth might occur in Guam, the Northern Marianas, and American Samoa.

Role of the state and financial institutions in financing the fishing industry

The experience of the Government in the recovery of loans for 28 foot mechanized vessels has been unsatisfactory. The author examines the various aspects which have contributed to this situation, and considers arrangements for financing purchase of such vessels. The risks associated with the investment in 38 foot vessels are high, and it seems that the reluctance of private investors to make the required contribution from personal funds is a result of fear of the unknown. Current incentives provided by the Government to the private sector for the purchase of 38 foot vessels are considered to be adequate.