Similar to what is occurring on other islands, gains in Maui’s visitor industry are now filtering through the rest of the island’s economy, a top local economist said Thursday.

"Slowly these benefits have spread from the tourism sector to other parts of the economy, including commercial construction, retailing, real estate and, most importantly, jobs," economist Jack Suyderhoud said at a First Hawaiian Bank business forum at the Maui Beach Hotel.

"Maui’s tourism boom will slow down, but its continued strength will support the rest of the economy," said Suyderhoud, a First Hawaiian Bank adviser and professor of business economics at the University of Hawaii Shidler College of Business.

"Certainly challenges remain in the residential construction sector, but infrastructure and commercial construction are leading the way. The business outlook for Maui is positive in the next year," he said.

Maui welcomed 1.2 million visitors through the first six months of this year, up 4 percent from the same period last year. The visitors spent $1.9 billion during that time, up 12 percent from the first six months of 2012.

However, Maui is more dependent on tourism than Oahu and would suffer disproportionately if the U.S. or global economy were to slow, Suyderhoud said.

"The rebound of the last two years is exceptional, and we should not assume that it will last forever," he said. Suyderhoud noted that the Maui Visitors Bureau is forecasting visitor arrivals to increase about 2 percent to 3 percent this year, down from the 6 percent gain in 2012.

Maui has regained about 5,000 of the 9,000 jobs that were lost during and after the latest economic downturn. As a result, Maui’s unemployment rate has fallen steadily. The unemployment rate for Maui County was 4.9 percent in July, the second lowest rate in the state behind Honolulu County at 4.2 percent.

"While this is very good news, it is worth noting that Maui is still 4,000 jobs below the prior peak and the unemployment rate is still well above the 3 percent rate before the Great Recession," he said.

Construction activity is trending up and contractors "seem more upbeat, but not jubilant," Suyderhoud said.

"Private building permits show some signs of trend improvement, and this holds out hope that the industry will continue to expand into 2014," he said.

Activity is more robust in government and commercial construction, and less so from residential and time share projects, according to Suyderhoud.