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HOUSING STOCK
<br />Another major factor in estimating housing need is the housing stock itself. If the rate of
<br />housing unit production keeps pace with population increase, then housing availability will be
<br />sufficient to handle the need generated by new households. According to U.S. Census
<br />estimates, Hawaii's housing stock grew from about 322,845 units in 2003 to 332,196 units in
<br />2006. That amounts to an average annual growth rate of about 1.6 percent per year, about a
<br />half a percent higher than the population growth rate during the same period.
<br />Table 2. Total Housing Units, 1990 -2006
<br />Sources: 1990 Census, 2000 Census, American Community Survey, 2003, 2004, 2005; 2006 is an SMS estimate.
<br />a. Average annual increase for the period noted.
<br />During the previous decade, the housing stock grew by the same rate (1.6 %), or about double
<br />the population growth rate. It slowed to 1.2 percent per year between 2000 and 2003, closer to
<br />the population growth rate during the same period. The situation in the last three years saw
<br />both rates increase, with stock growth staying ahead of population growth 1.6 percent to 1.1
<br />percent.
<br />Another important piece of the story is conditions at the beginning of the period under study.
<br />The Housing Policy Study 1992 described a housing market in Hawaii with very high pent -up
<br />demand. The very rapid population growth in the eighties, combined with production patterns
<br />that favored high -end units followed by rapidly declining economic conditions, caused major
<br />decreases in supply. Crowding' and doubling up were at record high levels, survey indictors of
<br />pent -up demand were all high, and affordable units were in low supply. The same factors
<br />worked toward lower population growth during the nineties. Birth rates fell, and people left the
<br />State to find better economic conditions and lower priced housing. Housing production, while
<br />slow, favored affordable units. And as the economy improved between 1997 and 2000, housing
<br />production rose to meet new demand, now reinforced by out -of -state buyers.
<br />Crowding was measured according to the US Census definition, "more than 1.01 persons per room ". Doubling up
<br />was measured as the number of households with more than one family per household.
<br />Hawaii Housing Policy Study, 2006 Page 9
<br />© SMS, Inc. February, 2007
<br />State of
<br />Hawaii
<br />County
<br />Of Honolulu
<br />County
<br />of Hawaii
<br />County
<br />of Maui
<br />County
<br />of Kauai
<br />1990
<br />389,810
<br />281,683
<br />48,253
<br />42,261
<br />17,613
<br />1992
<br />411,494
<br />290,571
<br />49,394
<br />51,578
<br />19,951
<br />1997
<br />449,385
<br />311,398
<br />59,098
<br />54,321
<br />24,568
<br />1999
<br />456,091
<br />314,448
<br />61,108
<br />55,475
<br />25,060
<br />2000
<br />460,542
<br />315,988
<br />62,674
<br />56,549
<br />25,331
<br />2003
<br />477,333
<br />322,845
<br />67,878
<br />59,788
<br />26,822
<br />2004
<br />484,936
<br />325,888
<br />70,927
<br />60,888
<br />27,233
<br />2005
<br />491,671
<br />329,300
<br />71,984
<br />62,178
<br />28,209
<br />2006
<br />501,956
<br />332,196
<br />77,577
<br />63,364
<br />28,819
<br />Percent change 1990 -2000a
<br />1.6%
<br />1.1%
<br />2.5%
<br />2.8%
<br />3.5%
<br />Percent change 2000 -2003a
<br />1.2%
<br />0.7%
<br />2.6%
<br />1.8%
<br />1.8%
<br />Percent change 2003 -2006a
<br />1.6%
<br />0.9%
<br />4.3%
<br />1.9%
<br />2.3%
<br />Sources: 1990 Census, 2000 Census, American Community Survey, 2003, 2004, 2005; 2006 is an SMS estimate.
<br />a. Average annual increase for the period noted.
<br />During the previous decade, the housing stock grew by the same rate (1.6 %), or about double
<br />the population growth rate. It slowed to 1.2 percent per year between 2000 and 2003, closer to
<br />the population growth rate during the same period. The situation in the last three years saw
<br />both rates increase, with stock growth staying ahead of population growth 1.6 percent to 1.1
<br />percent.
<br />Another important piece of the story is conditions at the beginning of the period under study.
<br />The Housing Policy Study 1992 described a housing market in Hawaii with very high pent -up
<br />demand. The very rapid population growth in the eighties, combined with production patterns
<br />that favored high -end units followed by rapidly declining economic conditions, caused major
<br />decreases in supply. Crowding' and doubling up were at record high levels, survey indictors of
<br />pent -up demand were all high, and affordable units were in low supply. The same factors
<br />worked toward lower population growth during the nineties. Birth rates fell, and people left the
<br />State to find better economic conditions and lower priced housing. Housing production, while
<br />slow, favored affordable units. And as the economy improved between 1997 and 2000, housing
<br />production rose to meet new demand, now reinforced by out -of -state buyers.
<br />Crowding was measured according to the US Census definition, "more than 1.01 persons per room ". Doubling up
<br />was measured as the number of households with more than one family per household.
<br />Hawaii Housing Policy Study, 2006 Page 9
<br />© SMS, Inc. February, 2007
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