Housing
The UHERO Housing Policy Group provides rigorous analyses to inform debates regarding housing in Hawaiʻi, with a focus on the high housing cost burdens experienced by the State’s residents. This problem is multiscalar in its origins and thus requires a bundle of analyses ranging from longitudinal portraits of the State’s housing market, to estimates of the impact of housing costs on diverse communities, to objective evaluations of proposed policy solutions.
Maui Short-Term Rentals, the Minatoya List, and Housing Supply
By Justin Tyndall and Emi Kim Recent state legislation has given counties new powers to regulate Transient Vacation Rental (TVR) properties. A proposal on Maui would significantly reduce the number of TVRs by withdrawing permission to operate for over 7,000 properties. Below, we briefly summarize the policy proposal and discuss the characteristics of the units […]
Read MoreThe Hawaii Housing Factbook 2024
The past year has brought significant shocks to the housing market in Hawai‘i. In 2023, only one in five local households could afford a mortgage on the median-priced single-family home in the state. High interest rates make it difficult to finance a home purchase, difficult for developers to finance new construction, and disrupts the filtering […]
Read MoreWealth by Association? How Social Networks Drive Inequality in Hawaii
Studies show that economic connectedness, a poor individual’s share of wealthy friends, significantly impacts economic mobility. Hawaii ranks highly in this metric compared to other states, but disparities exist in local schools. Private high schools have much higher economic connectedness than public schools, driven mainly by students’ exposure to wealthy peers. To improve connectedness, policymakers […]
Read MoreUHERO’s Justin Tyndall cited in the 2024 Economic Report of the President
Congratulations to UHERO’s Justin Tyndall whose recent article (co-authored with Limin Fang and Nathan Stewart)” Homeowner Politics and Housing Supply” was cited in the 2024 Economic Report of the President.
Read MoreDelinquencies have spiked in the aftermath of the Maui wildfires
By Daniela Bond-Smith The devastating Maui wildfires destroyed most of Lahaina and displaced thousands of residents. But many Lahaina homeowners still have mortgages on their properties despite not having a home to go back to. As of the 2020 Census, almost three-quarters (74%; 1309 out of 1773) of Lahaina homeowners did not own their home free […]
Read MoreWhy are Condominiums so Expensive in Hawai‘i?
The median sale price of a new two-bedroom condominium in Hawai‘i is about $670,000, more than double the price in the average state. In this report, we try to determine why new condominiums are so expensive in Hawai‘i. We break down the costs involved in producing condominiums to better understand the causes of high prices.
Read MoreUHERO’s Justin Tyndall explains how short term vacation rentals impact Hawaii’s housing market
https://www.hawaiinewsnow.com/2024/02/20/debrief-how-short-term-vacation-rentals-impact-hawaiis-housing-market/
Read MorePublication: The effect of bus rapid transit on local home prices
Abstract: Bus Rapid Transit (BRT) systems have become increasingly common in US cities. BRT stations provide a local amenity by improving transportation options for local residents, but may also represent a local nuisance due to noise or displacement of other road users. We estimate whether BRT is priced into local real estate by studying a […]
Read MoreHomeowner politics and housing supply
Abstract: This paper examines whether homeowner opposition to nearby housing development affects local councillors’ votes on housing bills. Homeowners benefit financially from restricted housing supply through increased housing prices. City councillors, who approve housing development applications, cater to the needs of homeowners who are often long-term resident voters with a financial stake in neighbourhood amenity […]
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