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of incomplete kitchen facilities ranged from a high Table 5. Housing Stock Growth 2010 - 2017
<br /> of 2.3 percent in Hawaii County and a low of 1.1 Housing Housing
<br /> percent in Kauai County. Housing Units Units Percent
<br /> Units 2010 2017 Added Change
<br /> Our housing units are smaller than those in other State 461,437 482,864 21,427 4.6%
<br /> American housing markets. For the State, the
<br /> median number of rooms per occupied housing Hawai'i 65,872 72,384 6,512 9.9%
<br /> unit was 4.6. Nationally, the average housing unit
<br /> had 5.8 rooms in 2014. At the level of Honolulu 315,489 322,665 7,176 2.3%
<br /> municipalities, Honolulu, Hilo, Wailuku, and
<br /> Lihu'e average room counts were lower than all Kauai 23,839 24,901 1,062 4.5%
<br /> but a handful of other major housing markets in Maui 57,470 62,912 5,442 9.5%
<br /> the country (e.g., New York, 4.2; San Francisco,
<br /> 4.4; Boston, 4.5). Source:SMS based these on ACS Tables B25001 —B25004.
<br /> Housing stock increased by nearly 10 percent in
<br /> 2. Housing Production the Counties for Hawaii and Maui. The City and
<br /> County of Honolulu added 7,176 units to its
<br /> Hawai'i's total housing units count was 520,088 housing stock between 2010 and 2017. Honolulu
<br /> units in 2010 and 546,213 units in 20188. During had about 68 percent of the housing stock in
<br /> those years, we produced 26,125 units, an 2010, so the growth rate was only 2.3 percent for
<br /> average of 2,902 units per year, for an average the seven years. Kauai County's housing stock
<br /> annual growth rate of about 0.6 percent. This was grew by 4.5 percent (the state and national
<br /> a bit lower than the national average annual average).
<br /> growth rate of 1.3 percent for those years (0.9%).
<br /> a. Housing Stock Growth, 1990-2017 When the population increases and household
<br /> formation proceeds normally, additional housing
<br /> Housing stock, adjusted for vacant and units are needed to shelter the resulting new
<br /> unavailable units, had a slightly different pattern households.
<br /> (Table 5). The State's growth rate was the same
<br /> as the average of all 50 states (4.5%). Housing production can be measured by counting
<br /> completion certificates, or by subtracting this
<br /> year's stock from last year's stock.
<br /> As in all the previous HHPS reports, we find again
<br /> that the housing supply continues to lag behind
<br /> demand in Hawaii. We will revisit this subject in
<br /> the projections section of this report and in the
<br /> closing remarks.
<br /> In the interim, we ought to note that the growth is
<br /> not homogeneous across different types of
<br /> housing stock. Production is slower at the lower
<br /> end of the housing market. As found elsewhere
<br /> in the nation, housing prices rise faster for the
<br /> lower-income quintiles than for the upper ones.9
<br /> In addition, production lags demand in the rental
<br /> housing segment and produces higher numbers
<br /> of single-family units.
<br /> 8 DBEDT Data Book Time Series, Table 21.20.
<br /> 9 Popov, Igor. 2019. Housing markets and income
<br /> inequality, Rent Economics,April 24, 2019.
<br /> Hawai'i Housing Planning Study,2019 Page 9
<br /> ©SMS December,2019
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