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CONTENTS <br /> I. INTRODUCTION 1 <br /> A. BACKGROUND 1 <br /> B. PURPOSE 1 <br /> C. METHODS 1 <br /> D. REPORT STRUCTURE 2 <br /> II. CURRENT HOUSING SITUATION IN HAWAII 3 <br /> A. HOUSING SUPPLY IN HAWAII 3 <br /> 1. Current Housing Stock 3 <br /> a. Housing Stock Size 4 <br /> b. Trends in Housing Stock, 2011-2017 4 <br /> c. Homeownership 5 <br /> d. Shelter Cost & Shelter-to-Income Ratios 6 <br /> e. Crowding and Doubling-up 7 <br /> f. Age and Condition of Units 8 <br /> 2. Housing Production 9 <br /> a. Housing Stock Growth, 1990-2017 9 <br /> b. Impediments to Production 10 <br /> B. HOUSING DEMAND IN HAWAII 13 <br /> 1. Historic Demand 13 <br /> a. Population and Growth Rates 13 <br /> b. Components of Population Growth 13 <br /> c. Households and Household Size 14 <br /> d. Building Permits 15 <br /> 2. Demand for Residential Property from Outside the State 16 <br /> a. External Demand and Vacancy Rates 16 <br /> b. Use of Hawaii Property 17 <br /> c. External Demand and Vacant Units 18 <br /> 3. Survey Demand Estimates 18 <br /> a. Raw Demand 19 <br /> b. Effective Demand 20 <br /> c. Qualified Demand 20 <br /> 4. Purchase Preferences 21 <br /> a. Buyer Qualifications 21 <br /> b. Renter Qualifications 22 <br /> 5. Housing Preferences 24 <br /> a. For Owned Units 24 <br /> b. For Rented Units 24 <br /> C. HOUSING PRICES 24 <br /> 1. Sales Prices 24 <br /> 2. Rents 25 <br /> 3. Affordable Housing 27 <br /> Hawai'i Housing Planning Study,2019 Page v <br /> ©SMS December,2019 <br />