The major industries of greenstone (pounamu), gold, coal, and forestry have all dwindled over the last century, but a growing ecotourism industry has grown up and the town is starting to show signs of recovery. It has become a major tourist stop on the West Coast's main highway route, with carving of green stone an important local industry. It is also gaining a reputation for its annual wild food festival which has been running since 1990. Sea view Asylum was once the town's biggest employer.
Another important industry is dairying, with West land Milk Products being based in the town. A co-operative that has been producing dairy products for many years, it is increasing its production at about 10% annually, and in recent years has installed plants to produce new products such as different types of proteins, AMF and others. The vast majority of its production is exported.
The Hokitika Sock Machine Museum in town has on display a collection of antique sock-knitting machines and invites visitors to knit their own socks.
Hokitika now boasts one of the South Islands best 3D digital cinemas, the Regent Theatre, due to volunteer hours and grants from the West land development trust, Lion's foundation, Lottery's commission, the Major District Initiative and pub charity. The Art Deco theatre narrowly avoided being demolished, thanks to a last minute coup in the management committee
