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REPORT OF THE <br /> COMMITTEE ON GOVERNMENTAL <br /> OPERATIONS AND EXTERNAL AFFAIRS <br /> DATE: July 9, 2024 Re: Comm.No. 928/Res. No. 556-24 <br /> PLACE: Council Chambers <br /> Hilo, Hawai`i <br /> TIME: 2:30 p.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Governmental Operations and External Affairs, to which was referred <br /> Resolution No. 556-24, reports as follows: <br /> Resolution No. 556-24, introduced by Council Member Ashley L. Kierkiewicz via Communication <br /> No. 928, dated June 21, 2024, requests the Department of Research and Development to procure a <br /> comprehensive study on the economic and fiscal impacts of the transient accommodation rental <br /> industry in Hawai`i County. <br /> This resolution seeks an assessment and analysis of rental listings including available rentals, <br /> occupancy rates,pricing, geographic distribution,market value of the land/buildings,proximity of <br /> owners, number of structures, and other key metrics; economic contributions of the transient <br /> accommodation rental industry to Hawai`i County's economy; the impact of housing availability and <br /> affordability for Hawai'i County residents; and the potential feasibility of conversion to long-term <br /> housing. <br /> Hawai`i County Research and Development Director Douglass Adams and Finance Director <br /> Diane Nakagawa were present in the Hilo Chambers to comment on and answer questions about the <br /> resolution. <br /> Member Holeka Goro Inaba explained that he would like to focus on the Hawai`i County-specific <br /> economic impact of the transient accommodation rental industry. He then referenced the <br /> Department of Research and Development's 2024-25 Operating Budget and asked if funding is <br /> available for this study under the Hawaii Island Tourism and Destination Management line item. <br /> Director Adams responded that the use of those funds is a possibility. <br /> Member Sue L. K. Lee Loy expressed her support for the resolution and suggested that the study <br /> include a"crosswalk", which would help legislators to accomplish the goals and objectives of their <br /> decision-making based on the data found. <br /> • <br /> Member Heather L. Kimball explained that the benefits of hosting a short-term vacation rental <br /> versus that of a long-term rental pressures rental rates and the overall market in Hawai'i County and <br /> suggested that an amendment be made to the scope of the study. <br /> GOEAC Report No. 146 <br />