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Economics And Market Potential Of The Precious Coral Industry In Hawaii
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1971
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Series: UNIHI-SEAGRANT-AR- ; 71-03
[PDF-855.71 KB]
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Description:Although the State of Hawaii has limited land resources, the waters surrounding the islands provide great potential for the exploitation of resources. This paper is concerned with the economic aspects of one of these resources: precious corals. Off the islands of Maui, Lanai, and Kauai, beds of black coral exist at depths between 35 and 200 meters, These beds are currently harvested by divers and support a small retail industry in Hawaii valued at about $1.7 million per year. The discovery of pink coral beds off Makapuu Point in 1966 has added a new dimension to the precious coral industry in Hawaii. In 1970 the local precious coral both pink and black! jewelry industry was estimated to have a retail value of more than $4 million. Although most of Hawaii's supply of pink coral is presently imported from Japan, harvesting of pink coral beds in the Hawaiian Archipelago is beginning. A local coral jewelry industry based on local resources in not envisioned as becoming a significant source of revenue for the state; but rather, as resulting in further diversification and stability of the state's economy.
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Series:
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Sea Grant Document Number:HAWAU-T-71-004
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Rights Information:Public Domain
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