Mayor Mufi Hannemann raised Oahu taxpayers' hopes and expectations with an optimistic, reassuring State of the City address that sure sounded like an exclamation point to his City Hall tenure, even if the mayor has not officially entered the governor's race.

In his sixth, and potentially last such address, the mayor promised tens of thousands of new jobs created by the $5.5 billion rail transit project that is his key initiative, vowed to work with all interested parties to solve deep-rooted problems such as homelessness, and pledged to deliver to the City Council next week a balanced 2011 operating budget.

The mayor reiterated that city workers would be furloughed two days a month starting in July because of the fiscal crisis but emphasized their resilience and productivity despite such economic hardships.

And although he failed to specify exactly how he would address an expected $140 million budget shortfall, the mayor gave a strong indication that it would not be on the backs of Honolulu taxpayers.

“;I think we're going to have some good news for the taxpayers when we unveil that budget,”; the mayor told Star-Bulletin reporter B.J. Reyes after the speech. “;I think you'll be surprised when you see what we come up with next week.”;

What the mayor has done is whetted appetites for a palatable strategy—leadership that is reasonable and focused, especially given the recent backdrop of fiscal gloom and political stagnation.

He took some knocks afterward for failing to say once and for all whether he will leave City Hall to run for governor and for the lack of budget specifics.

City Councilman Charles Djou, a Republican who is likely to run for Congress, likened Hannemann's speech to a bikini, saying “;What he said was interesting, but what he hid is what's important.”;

Besides raising eyebrows, Djou misses the point.

While it's true that Hannemann didn't say in his speech whether he's planning to raise property taxes or other fees or cut programs, that information won't be concealed for long. His plans will be in full view next week, in the budget proposal he presents to the City Council.

It's highly unlikely that the mayor—especially if he is planning to run for governor as expected—would raise Oahu taxpayers' hopes and expectations only to dash them a few days later.