|
new housing :snit whether to buy or rent. In 1006, clearly 40 percent of all Hawaii
<br />households expressed a desire to move to a new home in the near future. Interest is
<br />somewhat higher in the Counties of Maui and Hawaii. Price increases have been higher
<br />in those two counties and while more units have been added to the inventory than in other
<br />counties, the rate of out -of state ownership has also been much higher. This suggests
<br />that pent -up demand may be higher in these two counties than in the City and County of
<br />Honolulu or the County of Kauai, 17
<br />As shown in Table V-3, above, nearly 20 percent of those who wanted to move to a new
<br />housing unit, indicated that they wanted to move to a home outside ofHawai'i.
<br />10 "Effective demand" is estimated by subtracting those households who want to move out -
<br />of-state from those who want to move. across the state, effective demand is expected to
<br />be equal to about 33 percent of 2006 households, or 142,362 households.
<br />Effective demand has changed notably since 1992, reflecting the changing condition of
<br />Hawai 'i 's housing market. Statewide effective demand has continuously fallen from. 42
<br />percent in 1992 to 33 percent in 2006. As shown in Table V -4, effective demand in the
<br />City and County of Honolulu dropped from 42 percent in 1992 to 31 percent in 2006.
<br />Effective demand in the County of Kauai also dropped from 38.4 percent in 1992 to 29
<br />percent in 2006 In Hawaii and Maui Counties, effective demand dropped from 1992
<br />through 2003, and increased in 2006.
<br />Table Y-4. Effective Demand by County, 2,006
<br />State Honola&
<br />Hawaii
<br />Maui
<br />a., 1m ' 4g
<br />1k Y•L',s+'F��'C a� °R,��'`e 3"Y}
<br />�. £_ '3
<br />; iy
<br />42.5
<br />L#
<br />}�
<br />u�] "t
<br />r
<br />�4 s
<br />i '{i". �.�'
<br />a
<br />36.4
<br />34.8
<br />$yy
<br />b
<br />.
<br />�: �F.. iYd:.Q � iW�r ro`.`� �4. 4k .h, ��•'�.
<br />35.1
<br />35.3
<br />35.8
<br />33.0
<br />�
<br />t-¢� ::
<br />30.9
<br />37.2
<br />Kant to move to a new home 39.8 38.8
<br />42.1 45.1 35.6
<br />Will move out -of -state 19.7 22.5
<br />117 13.2 20.6
<br />Effective demand for homes 32.6 30.9
<br />37.2 39.6 29.0
<br />Estimated number ofmovers 142,362 93,528
<br />22,796 19,577 6,362
<br />"ill move out ofstate" measured as first choice out ofstate. Effective demand eliminates those moving out of state from the
<br />overall demand estimate. Percent is percent ofall movers. "Estimated number of movers "is the number ofhouseholds wishing
<br />lo move to a new unit minus those who will move to units outside ofHawai'i.
<br />Source: Hawaii Housing Policy Study, 2006, Table 9, page 24.
<br />As shown in Table V-3, above, nearly 20 percent of those who wanted to move to a new
<br />housing unit, indicated that they wanted to move to a home outside ofHawai'i.
<br />10 "Effective demand" is estimated by subtracting those households who want to move out -
<br />of-state from those who want to move. across the state, effective demand is expected to
<br />be equal to about 33 percent of 2006 households, or 142,362 households.
<br />Effective demand has changed notably since 1992, reflecting the changing condition of
<br />Hawai 'i 's housing market. Statewide effective demand has continuously fallen from. 42
<br />percent in 1992 to 33 percent in 2006. As shown in Table V -4, effective demand in the
<br />City and County of Honolulu dropped from 42 percent in 1992 to 31 percent in 2006.
<br />Effective demand in the County of Kauai also dropped from 38.4 percent in 1992 to 29
<br />percent in 2006 In Hawaii and Maui Counties, effective demand dropped from 1992
<br />through 2003, and increased in 2006.
<br />Table Y-4. Effective Demand by County, 2,006
<br />State Honola&
<br />Hawaii
<br />Maui
<br />Kauai
<br />1992
<br />41.6
<br />42.5
<br />39.7
<br />39.1
<br />38.4
<br />1497
<br />39.5
<br />36.4
<br />34.8
<br />42,5
<br />36.0
<br />2003
<br />35,1
<br />35.1
<br />35.3
<br />35.8
<br />33.0
<br />2006 1
<br />32.6
<br />30.9
<br />37.2
<br />39.6
<br />29.0
<br />Source: Hawai 'i Housing Policy Study, 2006, fable 10, page 25
<br />0 17 SMS Research, Hawaii Housing Policy Stud' , 2006, page 24.
<br />2010 -14 CP Final 34
<br />
|