Despite more economic reports and forecasts showing caution or concern, those who see the glass half full instead of half empty are charging ahead with big plans.

These entrepreneurs believe in their product, their service and their customers -- and that there's no better time to dive in.

Construction is almost done, and more sparks are about to fly in Waikiki. A custom-built theater will be home to Waikiki Nei -- a dance, music and even acrobatics show that tells the story of Waikiki's evolution.

"This is his dream to do something like this, to bring a show of this caliber and a club of this caliber to Waikiki," said Jeff Aki of Taisei, the general contractor.

Longtime local tourism entrepreneur Roy Tokujo partnered with Las Vegas entertainment guru Todd Dougall to build this 750-seat venue that includes a stage they call the UFO.

"It actually juts out over the crowd, so it’s very interactive,” Aki said. “They want to create that 4th dimension in the theater."

After the show, the seats get cranked down into the floor and it turns into a nightclub and ultra lounge.

"It's kind of like a NASCAR pit crew,” Aki said. “When the show ends, we want to try to convert into the night club in about an hour."

What does this $22 million investment -- and the many smaller stores and shops opening -- say about Hawaii's economy now?

"It says that we're going to be OK,” Aki said. “We'll get through it; collectively we're going to get through it together."

Other businesses are singing the same tune. Romano's Macaroni Grill is adding its second Hawaii location -- this time a 7,500-square-foot restaurant at Queens’ MartketPlace at Waikoloa Beach Resort. It'll employ 150 people on the Big Island.

"We think that Hawaii is still the greatest place in the world to be, a wonderful place to do business, and all the islands are doing fabulously well," said restaurateur Randy Schoch, who operates that and other local and mainland restaurants.

Despite the mainland restaurant industry experiencing a 10% to 20% drop, Schoch's many Hawaii eateries are growing strong, and he says he has 4 or 5 other ideas in the works.

WAIKIKI NEI tickets and information, opening summer 2008: http://www.waikikinei.com/

Romano’s Macaroni Grill opens November 2008 in Waikoloa. The first location is at Ala Moana Center and is the top-grossing site in the nation.