Ahi prices rise significantly during the New Year’s season in Hawaii due to increased demand driven by its cultural significance and heightened holiday interest.
In many cultures, particularly in Asian traditions, red fish such as ahi and onaga symbolize good luck and prosperity for the year ahead, and are often eaten or displayed during New Year’s celebrations.
In Hawaii, ahi is particularly popular, especially in poke, a dish enjoyed year-round but particularly around the holiday season.
Guy Tamashiro of Tamashiro Market advises customers to shop early to secure better prices and avoid the long lines that typically form on Dec. 30 and 31.
“Every year, there’s a long line on the 31st; sometimes on the 30th there’s a steady group coming in and out,” Tamashiro said.
The seasonal surge in customers is driven by the tradition of using ahi to mark the beginning of the new year, prompting many to stock up for family gatherings and celebrations.
To meet the high demand for fresh fish during the holiday season, Tamashiro increases his purchases of high-quality fish, even though the costs are higher.
“I pay more for high-quality fish during the holiday season to meet customer expectations,” he said.
Despite the uptick in prices, ahi remains a highly sought-after item because of its cultural and culinary significance.
Prices for ahi are influenced by supply and demand, particularly during New Year’s, when demand peaks. However, the supply of ahi remains consistent.
“The demand is higher, so fish bought at the auction is more expensive because wholesalers and retailers want the best for the holiday season,” Tamashiro said.
He noted that bluefin tuna prices are holding steady at $40.95 per pound this year, but the prices for other types of fish have yet to be determined.
The pricing structure for ahi is largely driven by the auction process, where fish are sold to wholesalers and retailers based on market conditions.
Michael Goto, vice president of the Honolulu Fish Auction, said ahi’s cultural connection to Japanese traditions contributes to its peak demand during New Year’s.
“Ahi itself is rooted in Japanese culture,” Goto said. “That, along with the growth of popularity and wealth in consumption in Hawaii, whether it’s sashimi or poke, creates the peak demand during this time of the year.”
According to Goto, this cultural demand, coupled with a strong fishing season, contributes to the higher prices.
“Fishing vessels that target ahi know that this time of year is going to be very strong for them. The market’s going to be very strong for them,” he said. “They can definitely make a profit and continue their business plans going out and fishing during this period.”
Although ahi is available year-round, the holiday season creates a unique supply-and-demand scenario, where high supply aligns with high demand, making prices rise.
Goto further said the auction handles a significant volume of fish, with an average of 90,000 pounds sold per day. During the peak period surrounding New Year’s, this can increase to 100,000 pounds.
“It’s one of the rare instances where high supply matches high demand,” he said, referring to the unusually strong market conditions during this time.
The auction system, which is integral to the pricing of ahi, allows for price adjustments based on market volatility. The system provides flexibility for wholesalers and retailers to navigate the fluctuations in prices that occur due to increased demand.
“There’s no fixed price for fish. There are different price points, and it depends on the auction process,” Goto said. “We sell whole fish to wholesalers and sometimes directly to retailers, but the majority goes through a wholesaler who processes it and then sells it to restaurants, supermarkets or other establishments.”
Eric Kingma, executive director of the Hawaii Longline Association, said the higher demand during New Year’s affects pricing for fishermen.
“For the fishermen, prices can double at the auction. So where we might get $4 a pound on average, we might get $8 a pound for a whole fish,” Kingma said.
He said that once the fish reaches retail outlets, prices can triple due to the markup added by wholesalers and retailers as the fish moves through the supply chain.
Kingma reassured that despite the price surge, there is no shortage of fish available in Hawaii.
“We’ve been landing more ahi than we’ve had in past years, and there’s no shortage,” he said. “We’re doing 100,000 pounds a day, landing at the auction for the last two weeks. There’s no shortage; six boats are offloading every single day for 100,000 pounds or more.”
Hawaii’s longline fleet primarily targets bigeye tuna, about 60%, and yellowfin tuna, about 20%, with the remaining 20% consisting of other fish such as marlin and mahimahi. Kingma pointed out that the longline fleet is fishing at full capacity during this peak season, and with daily landings consistently hitting high numbers, the supply of ahi remains strong.
While fish prices are expected to rise during this time of year, Kingma noted that they typically decline after the New Year and the Lunar New Year.
“Fish prices can stay high through Lunar New Year, and then after that, it’s all dependent on demand,” he said. “But we’ve seen the price of groceries and other commodities go up in retail establishments due to inflation, and fishermen don’t see those price increases.”
In addition to the holiday price fluctuations, Kingma noted that “ahi prices two weeks ago were historically low because of low consumer demand.”
“We catch about 60% bigeye, 20% yellowfin, and the rest is marlins and mahimahi,” Kingma said, “so 80% of our fleet’s catch is what’s considered ahi.”
Despite the seasonal price increases, Kingma emphasized that Hawaii’s fishing industry remains strong, with no shortage of ahi.
“We’re landing the most fish we possibly can during this time of year, and the prices still go up,” he said.
As New Year’s approaches, the combination of high demand and ample supply makes this season a unique period in Hawaii’s fishing industry, marked by elevated prices and robust market activity.
