HONOLULU (KHON2) -- Honolulu was recently ranked amongst cities with the lowest delinquency rates on debt payments in the United States. According to a new study that analyzed data from 2024, Hawaiʻi ranked 94th out of 100 cities with the most delinquent debt. Or reverse this, and it's 6th for l east delinquent debt. This means it has one of the lowest rates of overdue debt payments. It also suggests that residents in Honolulu are generally more consistent in paying off their debts compared to other cities across the U.S. There are a few reasons why Hawaii’s cities might have lower delinquency rates. Factors that may contribute to Honolulu’s low delinquency rate Financial awareness: Managing finances in a very expensive city like Honolulu is crucial. The study demonstrates that residents in Honolulu are likely more financially aware and educated because managing finances is necessary to maintain a good quality of life in such an expensive area. Strong community values: Hawaii’s cultural emphasis on kuleana (responsibility) and kōkua (support) one another, and this may encourage residents to stay on top of financial obligations. Access to financial resources: Honolulu offers various financial services, such as credit counseling and budgeting assistance, that help residents stay on top of their payments and manage their finances better. Get Hawaii's latest morning news delivered to your inbox, sign up for News 2 You Employment stability: Many Honolulu residents work in relatively stable sectors like government, military, healthcare and tourism. These industries have a constant influx of customers which leads to a constant need for employees. This can provide steady income and reduce the risk of falling behind on payments. Tourism-driven economy: As a major tourist destination, Honolulu benefits from a continuous flow of economic activity. This can help keep businesses and jobs stable and indirectly supports residents’ ability to pay off debts. Better credit management: Credit in king in Hawaiʻi, and the residents know that. So, people in Honolulu might be more focused on maintaining a good credit score since it’s crucial for all aspects of our lives. Although Hawaiʻi has lower delinquency rates, it’s remains important for residents to be mindful of finances, especially as 2025 continues to unfold. You can click here to read more about the study. Get news on the go with KHON 2GO, KHON's morning podcast, every morning at 8 It's important to keep on top of paying bills on time and maintaining a good credit score to avoid other problems like late fees. ...read more read less