Larry Ellison: Aloha and Mahalo

Dr. David Argus, cancer specialist, discusses Lanai
health initiatives with Larry Ellison (Star Advertiser)

Go east, young man (or go west, old man); the destination doesn't seem to matter to skilled youngsters or wealthy oldsters as long as they're moving out from California.

Yesterday we noted how Oracle is moving its Redwood Shores headquarters--a two-mile walk from our house using the Bay Trail--to Texas. Meanwhile, its billionaire founder, Larry Ellison, has departed for Lanai, the island he bought eight years ago.

“Following Friday’s announcement ... I’ve received a number of inquiries about whether or not I will be moving to Texas,” Ellison wrote. “The answer is no. I’ve moved to the state of Hawaii and I’ll be using the power of Zoom to work from the island of Lanai,” he added, signing off the email with a “Mahalo.”

Hawaii also attracts Mainlanders who don't have the wherewithal to buy their own island. Bay Area residents who are able to work remotely are leaving for Hawaii: [bold added]

[35 y.o. founder of kWh Analytics Richard] Matsui is part of a wave of Bay Area residents landing on the Aloha State’s shores to take advantage of new pandemic-related remote work policies. While some are relocating permanently, others have made the trans-Pacific hop for three- to six-month sojourns where they rise before dawn, wrap up work by midafternoon and hit the beach or hiking trail by 4 p.m. Matsui is now participating in a collaborative effort among the state, nonprofit organizations and businesses that incentivizes remote workers to set up shop in the archipelago.

Hawaii’s appeal for Bay Area transplants with the financial means to move and jobs that allow it goes far beyond sun and surf. Of all 50 states, it has the lowest death rate due to the coronavirus and the third-lowest infection rate. While many popular international destinations are closed to U.S. travelers, Hawaii’s tropical climate and unique culture remains accessible. Additionally, the pandemic crippled Hawaii’s tourism industry, the state’s No. 1 private employer, leaving many accommodations typically booked out months in advance open for longer stays.

“We’ve noticed a significant increase in applicants for long-term rentals that are intending to work remotely,” said Andreea Grigore, senior vice president of property management at Elite Pacific and co-founder of the Hawaii Legal Short-Term Rental Alliance. “While a majority of our long-term rentals continue to support local Hawaii families, there is a growing percentage of our higher-end rentals that are being leased by families from the Bay Area.”

After watching Mainland transplants over a lifetime, my general observation is that they don't stick around unless they have family and friends already in Hawaii. If they arrive as a couple, one or both eventually get Island fever and leave.

It's also tough if they don't have a job lined up. The devastation wrought upon Hawaii's tourist industry has produced an unemployment rate of 15%, double that of California.

IMHO, the California-to-Hawaii migration isn't and won't be a widespread phenomenon.