Some optimism can be gleaned from the early results of the new Hawai'i Economic Stabilization Initiative, primarily from the fact that such a group — encompassing delegates from labor, all branches of government and private industry — could unify behind this single purpose.

It will take that level of cooperation and planning, sustained over the coming months, to turn the initiative's bare outlines into a course toward economic recovery.

Nobody can argue with the basic concept, particularly its most immediate facet: injecting public dollars quickly into construction projects that can jolt a weak economy.

But the devil is in the details, and few details are known: which projects will get the nod, precise work timetables and how the financing plan of bonds and cash reserves will cover it all. The Lingle administration expects to issue, as early as today, a list of projects that will pump $1 billion or more over 12 to 18 months into the economy, starting almost immediately.

Ted Liu, who heads the state's Department of Business, Economic Development and Tourism, said officials wanted to make sure the funds were available for the priority projects before announcing anything.

Once that happens, however, it's important that the execution of this initiative happens in a public, transparent way. The initial meeting, held at the Plaza Club, involved Lingle, all four mayors, representatives of the congressional delegation, lawmakers and private-sector leaders. As project lists are drawn up, leaders must keep communities informed about how their local tax dollars are being spent.

Hawai'i leaders also need to be strategic about putting the anticipated federal dollars from the incoming Obama administration to good use.

The projects with top priority in both the local and the federal stimulus plans are those ready for contracts. Many will be quick (and long overdue) repairs to schools, roads and hospitals, which will tap largely local contractors — a good way to keep dollars in the Isle economy.

And the leaders suggest that some contracts will attempt to shorten the process through combined design-and-build contracts, which is a smart idea. Permitting agencies should gear up to clear any processing hurdles speedily.

The initiative also is concerned about support to Hawai'i's premier tourism industry, so shovel-ready projects with potential to improve the visitor experience should be a priority.

Now that materials cost less and bidding will be competitive, it's an optimum time to spend money on enhancements that will offset the job losses of a weak economy, and make the Islands more attractive to tourists and business once the recovery begins.