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 process as homeowners are reluctant to trade up and forfeit their existing low mortgage rates. The consequences of unaffordable housing continue to show up in out-migration, homelessness, and more families being priced out of the local market.
This is the second edition of the annual UHERO Housing Factbook. By sharing our data publicly, we hope to contribute to a better-informed policy debate on housing and work towards solutions to the ongoing housing crisis.
To complement the new report, we have also updated the interactive Housing Dashboard, allowing users to dive deeper into the latest data.
