The Hawai‘i Department of Transportation has raised $849 million through its largest-ever bond issuance to support airport infrastructure upgrades and refinance existing debt. Roughly $600 million will go toward runway repairs, terminal renovations, and new facility construction across the state’s airports.
The remaining $233 million will refinance older bonds, generating over $23 million in interest savings. The Series 2025 bonds received strong investor demand and secured AA-range ratings from Moody’s, S&P, and Fitch for the first time in the system’s history.
Projects financed through the issuance will focus on improving operational capacity and traveler experience in one of the nation’s most tourism-dependent regions.