HomeMy WebLinkAboutCOM 0721.009 2020-2022 /rt
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Support for Bills 152 and 152
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for Hawaii County Council Finance Committee, 10 AM Tuesday,April 19, 2022
from Cory Harden
It only takes a brief Internet search to show the urgent need for these bills.
https:J/www.forties.comfsitesjforbes-global-propertiesj2022J01j03jfueled-by-mainland-buyers-
howaiis-luxury-housing-market-contin ues-its-hot-streak/?sh=477cdc53443b
Hawaii Life's...third quarter 2021 real estate market report indicates that the number of homes
for sale on Hawaii Island, Oahu, Kauai, and Maui has decreased dramatically when comparing
the third quarter of 2020 to the third quarter of 2021. What's more, continues the report, "the
average sales price of homes across the state experienced an impressive increase."
https:jfwww.khon2.tom/local-newslas-hawaii-home-prices-top-l-million-state-lawmakers-push for-
building-more-homes-local families-con-afford/
"Three of the four counties now have median house prices over$1 million,"said Sen. Stanley
Chang...
https.11www.ouw.orglhomeless-program
42%of households in Hawaii are renters(fourth highest rate in the country)and 54%of these
households pay 50%or more of their monthly income for housing(the second highest rate in
the country). 631 of households lack emergency savings to deal with an unexpected $500
expense.
https.11www.civilbeat.orgl20221011hawaiis-high-costs-leave-many-struggling-to-get-byl
The state's high cost of living and relatively low-paying jobs means about one-third of families
are living paycheck to paycheck and saving little or nothing for the future.These families are
referred to as"asset limited, income constrained, employed,"or ALICE...
And another 9%are below the poverty level,according to the latest ALICE data from the Aloha
United Way.That means 42%of residents are at the ALICE level or below,which places Hawaii
19th from the bottom among the 50 states and Washington, D.C., in the ALICE rankings...
Some experts predict studies this year will show as many as 60%of Hawaii residents will be
considered ALICE...
h ttps:jfwww.civilbeat.orgl2022j01 j5-visualizations-show-why-home-ownership-has-become-
unattainable for-most)
More than a third of Hawaii residents have volatile incomes that vary month to month, making it
exceedingly difficult to make consistent payments for housing,a Financial Health Survey found.
https.11www.civilbeat.orgl202lllllshould-a-pilot-program-to-expand-homeless-services-in-hawaii-be-
extendedj
"Hawaii is No. 2 for the highest rate of homelessness in the nation after New York, according to
the U.S. Department of Housing and Urban Development's 2019 Annual Homeless Assessment
Report to Congress."
Comm. No.
Ref, To: F�Ref. Date—Date A 9 2022