Golden week is generally a travel holiday in Japan. People used to travel to many other countries, especially to Hawaii. In the last few years, the economic in Japan was being really bad. The employers don't want their workers to have such a long vacation instead of doing their job to make profit. As a result, their holiday cut down from one week to three days. People don't want to go travel anymore. In addition, the war in Iraq also affects the travel industry in Hawaii. People don't want to travel in this dangerous time. JAL has also cut their daily flight to Honolulu. In Honolulu, the hotels and shops in Waikiki are getting really bad without the Japanese tourists. However, the economic in Honolulu will recover eventually because the war will finish and the economic will be fine in Japan. .
In Honolulu, the hotel business is not doing well because a large amount of Japanese tourists don't travel. The demand of the hotel rooms is decreasing. On the other hand, the supplies of the room are remains the same. As a result, the price decrease and the quantity demand also decrease. Their revenue decrease but the cost is same. As a result, their profit decreases. However, if the Japanese tourists are getting more and more, this situation will reversely change. .
In conclusion, I think the economic in Honolulu will recover very soon. The war will not last long. Tourists will have confident to travel again. At least, Hawaii is the paradise in this world. It is a peaceful, beautiful, and wonderful place for vacation.