The Hawai‘i Department of Transportation announced in February that the state’s airport system raised $849 million in bond financing, marking the largest bond issuance in the system’s history. The bonds will go towards approximately $600 million in infrastructure improvements, including runway repairs, terminal renovations, security enhancements and the construction of new facilities.

“As an island state, air travel is critical for our residents to connect to the world, our visitors to support our economy and our military to defend our country,” said Hawai‘i Department of Transportation Director Ed Sniffen in a press release. “This bond issuance provides critical funding that will allow us to deliver on our commitment to continue upgrading airport infrastructure, modernizing facilities and improving operational efficiencies.”

The Series 2025 Airports System Revenue Bonds garnered $4.9 billion in orders from potential investors. Orders include over 100 distinct investors from a wide range of institutions and mom-and-pop retailer investors from both Hawai‘i and the continental U.S.

“This successful issuance reflects the bond market’s confidence in the future of Hawai‘i and the critical role our airports system has in driving economic growth,” said Gov. Josh Green in the release. “We are grateful for the support of our investors and are excited to continue developing infrastructure that benefits both our residents and visitors.”

To view upcoming HDOT airport projects, go to investorrelations.hawaii.gov/dot-airports.