Four questions. Four answers. One structured, auditable record.
1
Where are we financially?
Total Project Cost
$10.08B
Reported
Incurred to Date
$6.60B
Reported
Remaining to Complete
$3.48B
Derived
74.23% spent
25.77% remaining
Source: HART Monthly Progress Report, Dec 2025 · Page 35
2
Where is cost heading?
Current Forecast
$10.08B
Stable since 2022 Recovery Plan
2012
$5.1B
Original estimate
2017
$8.2B
Scope revision
2022
$10.08B
Recovery Plan baseline
Source: HART Recovery Plan Reports, 2012–2025
3
Do we have the money?
Total Funding Authorized
$10.08B
Reported
Forecast Total Cost
$10.08B
Funding Position
Balanced
Funding includes FTA grants, GET surcharge, and City contributions
Source: HART Financial Plan Summary, Q4 2025
4
When will it be done?
East Kapolei to Aloha Stadium
Completed June 2023
City Center Segment
Forecast: 2031
Under construction
Revenue Service Date
2031
Reported
Source: HART Project Schedule Baseline, Rev. 8
The Honolulu Rail project is 85% spent, with a $125M funding cushion and a stable forecast targeting 2031 completion.
Primary Source Receipts
December 2025 Monthly Progress Report
HART Official Document ·
Retrieved: February 2026 · Board agenda item archived
Page 35, Table: 2022 Recovery Plan Budget Estimate at CompletionRetrieved: February 2026 · Board agenda item archived
Extraction & Citation Sheet
Google Sheet ·
Source of truth for displayed numbers and their citations
Extraction tab with page/section references for each metricSource of truth for displayed numbers and their citations
Change Log — What Changed & Why
Date
Old → New
Delta
Reason
Feb 2026
Nov → Dec 2025 MPR
+$66.95M incurred
v0.2 update: December 2025 Monthly Progress Report. Incurred-to-date increased to $6.601B (74.23% of EAC base cost). Source: Board agenda item, p.4 Summary and p.35 Total Project Cost table.
Jan 2026
Oct → Nov 2025 MPR
+$51.26M incurred
v0.1 update: November 2025 MPR (high-res). Incurred-to-date reached $6.534B (73.48% of EAC base cost).
Dec 2025
Initial entry
—
v0.0 pilot launch. Baseline established from October 2025 Monthly Progress Report.
Definitions
Incurred to Date (Life-to-Date)
Cumulative incurred costs through the reporting cutoff date, per HART's Monthly Progress Report definition.
Note: The MPR may specify inclusions/exclusions (e.g., third-party reimbursement costs). We adopt the definition as stated in the cited source.
Remaining to Complete (Derived)
A derived value calculated from the same primary-source table: Current Forecast "Total Project Cost" − "Incurred to Date."
We label this as derived unless the primary source explicitly reports a "cost to complete" line item.
Traceable, Verifiable, Accountable
Each number on this page links to a specific page and section in an official HART document. Click the receipt links above to verify the source data yourself. Any change produces a visible, auditable log entry.