Hawaiʻi’s minimum wage is set to rise for the first time in more than four years.

The current minimum wage of $10.10 an hour would rise to $12 an hour in October under a measure that cleared a key legislative conference committee Friday afternoon.

Wages would then rise to $14 an hour in 2024; $16 an hour in 2026; and $18 an hour in 2028.

House Bill 2510, the minimum wage bill, is a compromise measure between the House, which called for delayed implementation of wage increases, and the Senate, which pushed for much faster wage increases. It still needs to pass a final vote in both chambers and be approved by Gov. David Ige.