Gov. Josh Green announced Monday a new state finance director less than a month after the previous director stepped down.
Barely three months after starting work as chief state economist, Seth Colby is set to take over as director of the State Department of Budget and Finance, Green announced.
Colby started his current position at the Department of Business, Economic Development and Tourism in August and will take over the finance director position starting December 8.
“Seth brings a wealth of expertise in tax policy, economic research and fiscal management,” said Governor Green in a statement. “His leadership will be invaluable as we continue to strengthen Hawaiʻi’s financial foundation.”
Colby received a Ph.D. in political economy from Johns Hopkins School of Advanced International Studies and has worked for the World Bank and the Inter-American Development Bank on “economic and social development initiatives across Latin America, the Caribbean and Africa,” Green’s announcement stated.
After moving to the state in 2016, Colby worked as the state Department of Taxation’s tax research and planning officer before being appointed chief state economist. When Aloha State Daily interviewed him after his appointment in August, he said the state is at a crossroads and that "in the longer-term, we have to make some pretty big decisions about how we want organize ourselves."
Colby takes over a position previously held by Luis Salaveria for three years. Salaveria left the role on Halloween, with Deputy Finance Director Sabrina Nasir serving as acting director ever since.
Green’s announcement emphasized the need for a firm hand on the state’s finances going into the new year.
“In light of the fiscal uncertainty stemming from the federal government, further exacerbated by the recent government shutdown, the department is prioritizing prudent fiscal guidance and support, particularly as the 2026 legislative session approaches,” Green’s statement read.
“I appreciate the opportunity to serve in this role and will work to support Hawai‘i’s budget and policy needs,” Colby said in a statement.
Meanwhile, the state will begin a process to appoint a new state economist over the next few months.
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