The Hawaiian Islands host over 340 red algal species with new ones being discovered in deep-water expeditions. Kanaka maoli (indigenous Hawaiian population) have rich cultural traditions of utilizing macroalgae (limu) as food, medicine, and in cultural and religious ceremonies. However, wild stocks are declining due to habitat destruction, urban development and water diversion. In recent years, there have been efforts to expand land-based cultivation of tropical red macroalgae, including for aquaculture feed for urchins and abalone. Current estimates indicate an annual production of about 260 metric tons (MT) of wet weight (WW), predominantly on Hawai’i Island and O’ahu. Key species cultivated include Gracilaria parvispora, Halymenia hawaiiana, Agardhiella subulata, Devaleraea mollis (used to be called Palmaria mollis), and Asparagopsis taxiformis. Additionally, problematic invasive reds including Gracilaria salicornia and Acanthophora spicifera are harvested in significant quantities (up to 32 MT annually) from near-shore reefs impacted by eutrophication and repurposed as soil amendment. While most macroalgae are propagated vegetatively, the lack of genetic diversity in these populations increases susceptibility to diseases. Therefore, there is an urgent need to establish a germplasm seed bank for a diversity of economically and ecologically vital cultivars that are also thermally resilient and resistant to diseases and pests. Achieving economically viable production scales is also essential, and this can be supported by new tools and technologies - referred to as precision phyconomy - designed for land-based aquaculture. Finally, as tropical seawater is typically oligotrophic, cultivation of these species in Integrated Multi-Trophic Aquaculture systems can enhance overall productivity and yields.