The Hawaii Housing Factbook 2024

Daniela Bond-Smith, Rachel Inafuku, Justin Tyndall, Housing, Reports

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.

2 thoughts on “The Hawaii Housing Factbook 2024”

  1. I didn’t see any information about sewer availability and impact related to future housing…. so critical to have sewer and infrastructure information to plan ahead. that was disappointing. also what about Hawaiian Home future plans and impact of new development. we live on Kauai and I understand we have only about 20 % of Kauai has access to sewer… that has a huge impact on ADU and future housing options.

  2. The most revealing graph in this report is on page 11 where it shows the cost of housing divided into land, construction and regulatory costs.

    Looking at the graph, it is clear that construction and land costs are only slightly higher here in Hawaii than they are elsewhere in the United States. Construction costs in Alaska are almost identical to Hawaii for example.

    So why does a house in Alaska cost HALF of what a house in Hawaii costs? Regulatory costs. The red portion of the bar graph is planning, permitting, interest expenses, planning consultants, etc. These costs DOUBLE the cost of a new home in Hawaii.

    But instead of fixing this problem, our politicians are scapegoating short term rentals. The solution to our housing crisis it very, very simple – eliminate as much of the planning and permitting process as possible and allow builders to build. Until we do that, we’ll continue to suffer from high cost of living, outmigration, brain drain, excessive homelessness and gentrification. We need to aim to be more like Alaska and less like California.

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