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I
<br /> I
<br /> II. CURRENT HOUSINGSITUATION `
<br /> S U TION IN HAWAII
<br /> IThe 2016 study of Hawai`i's housingmarket and housingunits that have traditionallybeen
<br /> housing needs begins with a review of the basic excluded from total housing units include group
<br /> I elements of housing planning. The report covers quarters (prisons, dormitories, nursing homes,
<br /> those issues in three major sections - housing shelters, etc.) and commercial residential
<br /> supply, housing demand, and housing prices. properties (hotels, condominium hotels, hostels,
<br /> I timeshare units, etc.), which are available only
<br /> A. HOUSING SUPPLY IN HAWAII on a short-term rental basis.
<br /> I In this section we consider (1) housing stock, the Total housing units are further defined as either
<br /> current collection of housing units available to occupied or vacant. By Census convention, the
<br /> Hawaii residents and migrants, and (2) housing number of occupied housing units is always
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<br /> production methods and the rate at which new equal to the number of households in the State.
<br /> housing units are added to the housing stock. The total housing stock includes all occupied
<br /> housing units plus vacant housing units
<br /> available to the market (Table 1).
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<br /> 1. Current Housing Stock
<br /> According to the Census, there were 524,852 Residential housing construction fell after the
<br /> housing units in Hawaii in 2014, up about one- Great Recession began in Hawaii in 2008.
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<br /> half of one percent from 522,164 units in 2013. Total housing units grew by about 5,600 units
<br /> per year (2.2%) between 2009 and 2011.
<br /> A housing unit, as defined by the U.S. Census, is Between 2011 and 2014, growth slowed to
<br /> I a unit that is available for occupancy as an owned 2,800 units per year - half what it was in the
<br /> or long-term rental unit. Some other types of previous five years.
<br /> ' Table 1. Housing Unit Types by County, 2014
<br /> County
<br /> Housing Unit Types Hawaii Honolulu Kauai Maui State
<br /> Total Housing Units 83,904 339,830 30,112 71,006 524,852
<br /> Available Housing Units (Housing 69,458 321,661 24,955 61,446 477,520
<br /> I Stock)
<br /> Occupied Housing Units 64,586 310,141 22,395 53,177 450,299
<br /> Vacant and Available 4,872 11,520 2,560 8,269 27,221
<br /> IUnits Not Available (long-term 14,446 18,169 5,157 9,561 47,333
<br /> vacancies)
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<br /> Vacant for seasonal use 11,008 10,732 4,270 7,044 33,054
<br /> Vacant for agricultural use 25 32 30 6 93
<br /> Other vacant 3,413 7,405 857 2,510 14,185
<br /> IavailablePercent occupied and vacant & 82.8% 94.7% 82.9% 86.5% 91.0%
<br /> Percent unavailable units 17.2% 5.3% 17.1% 13.5% 9.0%
<br /> 1 Percent vacant for seasonal units 13.1% 3.2% 14.2% 9.9% 6.3%
<br /> Percent other vacant 4.1% 2.2% 2.8% 3.5% 2.7%
<br /> Source:ACS 2014 5-yr Estimates,Table B25004 and DP04
<br /> IHewai'i Housing Planning Study,2016 Page 3
<br /> ©SMS,Inc. December,2016
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