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HONOLULU CITY COUNCIL <br />KE KANIHELA 0 KE KALANA • • No. 2so4272 <br />CITY AND COUNTY OF HONOLULU <br />RESOLUTION <br />RELATING TO THE INCLUSION OF A PROPOSAL IN THE 2026 HAWAI'l STATE <br />ASSOCIATION OF COUNTIES LEGISLATIVE PACKAGE TO AFFIRM THE <br />AUTHORITY OF THE COUNTIES TO REGULATE THE DEVELOPMENT OF <br />AFFORDABLE HOUSING. <br />WHEREAS, the Hawai'i State Association of Counties ("HSAC") is composed of <br />the members of all four county councils of the State of Hawai'i ("State"); and <br />WHEREAS, each year, HSAC considers, adopts, and transmits legislative <br />priorities to the Hawai'i State Legislature ("Legislature") for consideration; and <br />WHEREAS, the current median single family home price in the State has <br />increased to just under $1 million, far surpassing the national average and resulting in <br />fewer local residents who are able to afford to buy a home; and <br />WHEREAS, the lack of affordable housing continues to be one of the most <br />significant and challenging problems faced by all four counties; and <br />WHEREAS, the 2024 Hawai'i Housing Planning Study (the "Study") found that <br />the Hawaii housing market is in crisis and conditions continue to worsen for residents <br />across all four counties; and <br />WHEREAS, the Study further reported that the number of vacant available <br />housing units in the State dropped 20.7 percent between 2017 and 2022, with an <br />estimated need of an additional 64,490 units needed through 2027, in order to meet <br />current and projected housing demand; and <br />WHEREAS, the Study also found that of the units needed to meet demand, 65 <br />percent must be at levels affordable for households earning 80 percent of the area <br />median income and below; and <br />WHEREAS, the Hawai'i Housing Finance and Development Corporation <br />("HHFDC") was established in 2006 and is the primary agency charged with carrying <br />out the State's affordable housing finance and development functions; and <br />WHEREAS, the HHFDC collaborates with private developers, other State <br />agencies, the four counties, and the federal government to develop affordable housing <br />across the State; and <br />OCS2025-0707/9/9/2025 3:51 PM <br />