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Home My WebLink AboutCOM 0675.001 2022-2024 HEATHER L. KIMBALL .eel OF OF N'-'�� Phone: (808)961-8828 COUNCIL CHAIR .�• 4�'b4 �'. Fax: (808)961-8912 Council District I (North Hilo, ,'!�•„/1:t; Email:Heather.Kimball(�hawaiicountv.gov Hamakua, and portion of Waimea) C) HAWAI`I COUNTY COUNCIL 25 Aupuni Street, Ste. 1402. Hilo, Hawai'i 96720 IN) `c_< '-Ti DATE: January 12, 2024 -- TO: Members of the Hawai`i County Council FROM: Heather Kimball, Council Chair tk Council District 1 SUBJECT: Supporting Documentation Relating to Bill No. 121 Attached please find the following for purposes of discussion in relation to Bill No. 121: • Hawai`i Appleseed: "Hawai`i Vacation Rentals Impact on Housing& Hawai`i's Economy", March 2018. • Town of Vail, Colorado: "Short-Term Rental (STR) Self-Compliance Affidavit". In addition,the following link provides relevant content from the UHERO (The Economic Research Organization at the University of Hawai`i)webpage, entitled"Short-term Vacation Rentals and Housing Costs in Hawai`i"by Rachel Inafuku and Justin Tyndall (April 2023): https://uhero.hawaii.edu/short-term-vacation-rentals-and-housing-costs-in-hawai%CA%BBi/ Finally, "The Hawai`i Housing Factbook"published by UHERO on June 28, 2023,previously shared with Council, is also relevant to the Bill 121 discussion and can be found at the following link: https://uhero.hawaii.edu/wp-content/uploads/2023/06/TheHawaiiHousingFactbook.pdf Thank you. HK:dbk Att. Comm. No If •I Hawai`i County is an Equal Opportunity Provider and Employer. Ref.To: Ref.Date ' AN ar ION , s... .., - 'arch 2018 / / ,, ''';'I'i ,-• r ',';', I; A, --,„ .. . - tl 'N' ': r ,:,;,,,,Aiy , . 1 i ,I ,,. 1\‘ isi• Vacation Rentals Hawa Impact on Housing & Hawai ` i 's Economy „ .„.... •4.i',.a k.,..„7.1 f 1.1. 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N-,a " ""'".- rr ' ":"LitirartridiMV , -- .,N.41,1 fir 4t Hawai`i Appleseed Center for Law and Economic Justice 119 Merchant Street Suite 605A Honolulu, Hawaii 96813 (808) 587-7605 www.hiappleseed.org Authored by: Victor Geminiani Madison DeLuca Contents Executive Summary 1 The State of Housing in Hawaii 3 Severe Impact of Housing Shortage on Those Most in Need 4 Economic Challenges Facing Hawai'i Residents 5 Hawai'i's Vacation Rental Industry 6 Case Study: Maui 9 Vacation Rental Regulation in Other Major Cities 10 Current State of VRU Enforcement 10 Recommendations 11 Conclusion 12 Endnotes 13 Executive Summary Finding affordable housing has long been a significant challenge for Hawai'i's residents. Over the past decade, it has risen to crisis proportions. Economic barriers to achieving economic stability are daunting for most Hawaii residents, and are nearly insurmountable for low-income households. The growth of the vacation rental industry in recent years is exacerbating these problems. While vacation rentals offer the possibility of extra income for some residents and additional tax revenue for the state, many of the benefits go to nonresident investors. The adverse consequences of housing stock lost to vacation rentals far outweighs the benefits they might provide to local families and our community. Over just the last two years, the number of VRUs has increased by 35 percent.There are currently 23,000 VRUs being advertised around the state. Up to 93 percent of them are for entire homes, rather than the rent-out-a-room image purveyed by the VRU industry. One out of every 24 housing units in the state is a VRU, with some communities being completely overwhelmed by the industry's growth. On Kauai one in eight homes is used as a VRU. In Lahaina, the ratio drops to one in three. The reason why investors are choosing VRUs over long-term rentals is obvious:the average VRU brings in about 3.5 times more revenue than a long-term rental unit. The loss of long-term rentals to VRUs means higher housing costs for Hawaii residents. Although Hawai'i derives some benefits from VRUs through increased tourism spending and tax collection, the benefits are far outweighed by the costs.San Francisco,which like Honolulu has struggled with high housing costs and a proliferation of VRUs, found that every housing unit withdrawn from the market to be used as a VRU produces a net negative economic impact, even if the unit generates host income, visitor spending, and hotel taxes. San Francisco estimates that their local economy loses up to $300,000 per VRU per year. The impact of VRUs in Hawai'i is likely to be similar. Hawai'i should consider adopting measures that will help reverse the damage caused by the proliferation of illegal VRUs in the state, including: • Making it illegal to advertise a VRU that is not permitted and requiring all VRU advertisements to include a permit number (currently,enforcement agencies report that a VRU advertisement is not sufficient to prove that the unit is actually being used as a VRU); • Requiring that internet hosting platforms identify and remove noncompliant hosts; • Empowering local neighbors to enforce the laws against VRUs by granting them standing to file a complaint with the courts; • Increasing the staff of the county enforcement office; • Requiring owners or hosts to be present whenever they are hosting; and • If, after cracking down on illegal VRUs, communities decide to modestly increase the number of VRU permits, dispersing permitted rentals unit in communities throughout the island to avoid oversaturation. Unless Hawai'i takes action against illegal VRUs, their numbers will continue to rise as investors convert more homes built for residents into vacation rentals for visitors.Home prices and rents will rise,and Hawai'i's families, communities, and economy will suffer. The State of Housing in Hawaii The housing crisis is one of Hawaii's most critical problems today.Our housing costs are among the highest in the nation., We have the lowest wages when adjusted for cost of living,2 the highest rate of chronic homelessness,3 and the highest rate of overcrowding in housing.4 These problems continue to worsen with housing costs increasing at more than twice the rate of increases in wages.5 Housing has always been expensive in Hawaii, but housing costs have rocketed further out of reach for Hawai'i residents over the last decade. A primary contributor to Hawaii's housing Rent vs. Wage Increases problem is that our supply of affordable Increases in rent prices have dramatically housing fails to keep up with demand. outpaced increases in wages since 2000 Although Hawai'i gained 8,458 housing from 2011 to 2014, this pace is insufficient to create 350% the 24,551 units Hawaii needs between 2016 300% and 2020 to keep up with new demand.6 For every two units needed, only one is being 250% built. 200% As demand continues to outpace supply, 150% housing prices and rents for families who live 100% and work in Hawai'i will continue to rise. This problem is exacerbated by nonresident 50% home purchasers. Statewide, 27 percent of o% Hawaii's homes sold between 2008 and 2015 �y �A �q qN q`) q5 qA qq o` o`3 o`3 oA oq �` ,o went to nonresidents.?On Maui, investors and second-home owners hold over 60 percent of Rent-Cumlative%Change condominiums and apartments8 and 52 —percent of homes are sold to nonresidents.9 Wages Cumlative%Change This dramatically shrinks the pool of available housing for our families. Vacation rental units (VRUs) provide another Percent of Maui significant pressure, leading to the reduction of homes sold to available housing for Hawaii residents and 52% nonresident driving up rents.VRUs are rental properties being buyers used as rentals for less than 30 days to transient parties,and many are illegal.'°In Hawai'i,where 43 percent of households rent—the fourth Percent of Maui highest percentage out of all the states—this condos and issue is particularly problematic. ' A sharp increase in VRU inventory, driven by the strong apartments sold economic returns VRUs generate, undoubtedly 60% to investors and affects our local housing market. Maui, the second island with the largest number of VRUs in the homeowners state, is particularly impacted. Severe Impact of Housing Shortage on Those Most in Need Hawai'i's housing shortage most acutely affects residents and families who are the least economically secure.Housing demand is typically measured relative to"Area Median Income" (AMI)—the income level at which half of Hawai'i's residents make more and half make less. In 2016,the median household income for Hawaii was $74,511.12 Approximately 74 percent of the total housing units required by 2025 are needed for households making less than $75,000.13 In other words, roughly three-quarters of the total amount of new housing required in coming years needs to be affordable to the lowest-income half of the population.The greatest housing needs are at the lowest levels of the income scale. Hawaii Housing Demand by Income Level (2015-2025) More than$150K A A $100Kto$150K )6AAAAAA $75K to$100K AAAAAAAAA $60K to$75K AAAAAAAh $45K to$60K A A A A A A $30K to$45K AAAAAAAAAAAAF Less than$30K AAAAAAAAAAAAAAAAA = 1,000 units needed Not only is there a need for new,affordable homes in the future,the unfortunate reality is that the amount of planned affordable housing is far below the amount needed to close the availability gap. Units built by the private market, without the use of government subsidies, are typically priced at levels affordable only to households at 140 percent of AMI and above—prices well out of reach for the vast majority of Hawaii residents.The Hawaii Housing Finance and Development Corporation (HHFDC)—the main state agency charged with developing and financing housing affordable below 140 percent of AMI—planned to develop only 5,801 units of housing between 2016 and 2020.14 This is less than a third of the 19,908 units needed at or below the 140 percent of AMI income level in this time period.15 The lack of sufficient housing stock and increased housing costs relative to wages has resulted in high rates of crowding (where a household has more than two people per bedroom) and doubling up (where multiple households live in a single home). In recent years, Hawaii has been ranked first in crowding for owner-occupied units and second for renter-occupied units. In 2016, 20 percent of Hawai'i's households were crowded or doubled up.16 Native Hawaiians are particularly disadvantaged by the explosion of VRUs.Their homes are more likely to be overcrowded and doubled up, leaving no space to rent out.'7 They are also more economically insecure; while Native Hawaiians participate in the labor force at higher rates than the state average, they earn significantly less per capita.18 Economic Challenges Facing Hawai`i Residents Living in Hawaii comes with Percentage of Households Facing serious economic challenges Housing Cost Burdens by Income Group (2017) that compound the struggle to find affordable housing. Hawaii 100 ° 85% 86% is the second worst state for 80% 75% taxing people in poverty,19 and 61% 60% Hawai'i residents earn the lowest 60% wages in the country when 40% adjusted for cost of living.20 Forty- 21% 25% eight percent of households in 20% IIII 1% 9% 16% Hawaii struggle to afford basic 0% - household necessities.21 Extremely Low Very Low Low Middle Above Median (0-30%AMI) (31%-50%AMI) (51%-80%AMI) (81%-100%AMI) (100%+of AMI) Housing is considered affordable ■Cost Burdened ■Severely Cost Burdened when a household spends no more than 30 percent of its income on shelter. Families with expenses exceeding this amount are considered cost-burdened, while those spending more than 50 percent are severely cost-burdened.22 Seventy-five percent of extremely low-income households in Hawaii spend more than half of their income on housing.23 This leaves little money to covet other expenses such as clothing, food, and medicine. Forty-three percent of Hawai'i households rent rather than own—the fourth highest percentage in the nation. Hawai`i's "housing wage" (defined as the wage needed to afford a two-bedroom unit at fair market rents) is $35.20—the highest of all the states. In comparison, the average renter's real wage is $15.64. A minimum wage worker would need to work 152 hours a week-3.8 full-time jobs—to afford a two-bedroom unit, and 116 hours a week-2.9 full time jobs—to afford a one-bedroom unit.24 As the housing market becomes increasingly hostile, eviction and displacement become more likely. Eviction �. can lead to lower credit scores and increased difficulty finding replacement housing, loss of security deposits and 1004 personal belongings, and additional moving expenses that already cash-strapped families can ill afford. - Even if a displaced family can find new housing, it may be in a different area. This breaks up communities, severs ties with family and friends, and disrupts children's schooling. 13% of homeless shelter Classroom turnover hurts our keiki; it leads to lower achievement, academic progress, and high school clients came from homes graduation rates. Additionally, unstable housing situations they were unable to retain can increase substance abuse and incidences of psychiatric disorders.25 The most severe consequence of displacement is homelessness. In 2016, almost thirteen percent of homeless services clients came from homes they were unable to retain.26 As Hawaii has the nation's highest chronic homelessness rate, keeping people housed should be a high priority.27 Housing costs even drive some residents out of our state. In 2016, approximately 22 percent of survey respondents said they would move out of Hawai'i on their next move. Thirty-one percent of those who wanted to leave reported that housing was one of the problems causing them to move.28 Hawai`i's Vacation Rental Industry The Internet has provided opportunities for anyone to advertise units for short-term rental, regardless of county or state laws.A sizable percentage of VRU operators (also known as"owners"or"hosts") are willing to operate in violation the law because the economic returns for a VRU are significantly higher than that of a long-term rental. Compounding matters is the recent rise of internet hosting platforms like HomeAway and Airbnb. These platforms have substantial marketing budgets, near-universal brand awareness among travelers, and e- commerce infrastructure that makes it easier for people to operate a VRU today than ever before. Internet hosting platforms also provide significant anonymity.They shield host information from regulators and permit illegal operations to list on their sites. This makes enforcement nearly impossible and reduces illegal hosts' fear of getting caught. Sharp Rise in Hawaii Vacation Rentals VRUs in Hawaii are pervasive and their numbers are growing. In 2017, the Hawaii Tourism Authority (HTA) estimated that 23,000 VRUs existed in Hawaii,29 a 35 percent increase in only the last two years.30 17,000 23,000 2015 2017 Since Hawai'i has roughly 540,000 total housing units, these estimates mean that approximately 1 out of every 24 units is a VRU.31 The share of VRUs is even higher in towns frequented by tourists. In Koloa on Kauai, 1 out of every 2.5 housing units is a VRU.32 1 in 24 1 in 10 1 in 3 Hawai'i Homes is a Kauai Homes is a Lahaina Homes is Vacation Rental Vacation Rental a Vacation Rental Vacation Rental Ownership Some platforms perpetuate the myth that VRU hosts are residents renting out extra rooms to make ends meet.33 At minimum, 52% of VRUs are However, the majority of hosts are nonresidents.The O available data is not sufficiently detailed to owned by determine the full extent of nonresident ownership, nonresidents but it does reveal that at least 52 perceni of VRUs are owned by nonresidents. The true figure is likely much higher.34 Entire Home vs. Shared Home Additionally, the majority of VRUs are entire-home rentals. Various sources estimate that between 74 percent and 93 percent of VRUs are for entire-home rentals. A report commissioned by Airbnb derived the low-end estimate of 74 percent,35 while the high-end estimates were derived from visitor surveys and data extracted from VRU booking sites.Ninety-two percent of visitors surveyed self-reported that they had the entire unit to themselves,36 while data extracted from three separate VRU booking sites indicated that 93 percent of VRUs were for an entire home: or entire condo.37 11 Up to 93 percent 93% of VRU listings are for entire homes Entire home listings These entire-home rental hosts are likely not renting their primary residence, as the hosts would need to vacate the premises for the duration of their guests' visits. Rather, entire-home listings are likely posted by multi-unit hosts who use VRU platforms to facilitate commercial-style rental operations. From 2009 to 2014, the number of Airbnb booked entire-home listings increased by an annual average of over 100 percent.38 A recent study suggested that hosts with 20 or more units earned more than 27 percent of the total revenue generated by multi-unit hosts.39 It should be noted that the study was conducted by a group with ties to the hotel industry, but if even close to accurate, it paints a compelling picture of who is benefiting from VRUs. Detriments of Vacation Rentals Outweigh Benefits While VRUs bring additional tourism,spending,and the potential for taxation,studies have shown that the negative impacts on cities' economies and housing costs far outweigh the benefits.San Francisco found that VRUs result in the withdrawal of housing units from the residential market, which leads to higher housing costs.Every housing unit withdrawn from the market to be used as a VRU produces a net negative economic impact on the city, even if the unit generates host income, visitor spending, and hotel taxes every day of the year.The city estimates that the local economy loses up to$300,000 per VRU per year.40 Other cities have also tracked the outsized and negative effects of VRUs. In 2014, Airbnb absorbed one percent of Los Angeles' rental housing market, and rents rose 7.3 percent.41 Furthermore, if 8,000 illegal Airbnb listings were removed in New York City,the number of available rental units would rise 10 percent.42 Why Long-Term Rentals Are Being Lost to Vacation Rentals Renting out a unit as a VRU is more profitable than renting it long-term, making VRUs particularly appealing for nonresident investors. A 2015 study by Honolulu's Office of Community Services indicated that at 80 3 . 5x . percent occupancy, the average Airbnb unit would bring in about 3.5 times more revenue than a long-term rental.43 Approximately Amount of revenue an seventy-eight percent of rental units on Oahu average Airbnb unit can earn less money than the average Oahu entire-home Airbnb. generate compared to Thus, on average in Honolulu, a potential host a long-term rental would only have to rent on Airbnb 73 days out of the year to earn more on Airbnb than renting long term. In some areas the threshold is lower;a Waimanalo host would only have to rent on Airbnb 26 days to make more than they would renting long term.44 A report Value of Building Permits in prepared for the Hawaii Tourism Authority Hawaii estimates that revenue from VRUs will reach $1.9 billion by 2021, an increase of 58 percent 4 from 2016 revenue.45 0 a 3 Given the enormous economic incentives, it is inevitable that opportunists will use VRUs to 2 commercialize Hawai'i's neighborhoods. o Hosts are overwhelmingly speculators and investors who benefit from the escalating price of housing in Hawai'i,46 and our property tax rate, which is the lowest in the nation.47 0 Hawai'i is a safe place to invest money for CO N O O V CO N `O 0 <f CO N 'O 0 NI- LO '0 ,0 h. h. c0 c0 a 0' o. 0 0 — long-term security and a high h return on 0' 0' D o o o o, o 0 0 0 0 N N N investments, at the expense of our residents. Case Study: Maui With almost 9,000 estimated VRUs48 taking up 13.6 percent of its housing stock,49 Maui is an example of unfettered VRU proliferation. One in seven housing units on Maui is a VRU. In Lahaina, it is one in three.50 Maui is an example of what the state of Hawaii could become if we do not enact stricter regulations. Nonresidents dominate Maui's housing market. Sixty percent of condos51 and 52 percent of homes on Maui are sold to nonresident buyers.52 Who Nonresident Maui Property Sixty-six percent of nonresidents who own Maui property report renting out their units. Only 16.7 percent of these Owners Say They Rent To owners choose to rent to residents only.53 Thus, it is no surprise that Maui has the highest percentage of residential units being used as VRUs in the state.54 Since 2006,the number of housing units produced each "Don't oww. year on Maui has lagged behind the number of new Know" Visitors households.A 2014 report commissioned by the County of Maui shows that by 2020, Maui's unmet housing need will reach nearly 4,000 units. Seventy percent of these 16.7% units will be needed for households at or below 80 Residents percent of AMI.55 Almost a quarter of Maui residents are Only severely cost-burdened; this is the highest proportion of severely cost-burdened residents in the state.56 Even when new units are constructed they are often not affordable; Maui has the lowest share of affordable housing in the state. Median sales prices for homes on Maui saw the largest increase (24 percent) in the state from 2010 to 2014. Furthermore, less than a quarter of prospective Maui home buyers are able to make an adequate down payment.57 Maui has taken concrete steps to address the problems posed by VRUs: • Potential hosts must obtain a permit, arrange a safety inspection and provide public signage with their contact information. • Opposition from neighbors can trigger a Maui Planning Commission review of the VRU and neighborhoods have caps on the number of short term rentals that can operate. • Any dwelling approved for short-term use must have been constructed more than five years before a permit application is submitted.58 Vacation Rental Regulation in Other Major Cities Cities across the globe are searching for solutions to reduce the proliferation of illegal VRUs and increase the supply of critical housing for residents.Three examples of such locations are: San Francisco New York City • In 2014, San Francisco limited homesharing • New York State law was amended in 2010 to 90 days per year during which hosts are to prohibit rentals of fewer than 30 days not present for their guest's stay, mandated during which the owner is not present.75 that hosts register their properties, required • In examining Airbnb data from 2014, the hosts or platforms to collect taxes,71 and New York Attorney General's Office found only allowed each host to rent out one that nearly 72 percent of New York City unit.72 listings are illegal. Additionally, while only 6 • In 2016, the city required VRU platforms to percent of hosts ran commercial-scale verify that listings are registered before operations, these hosts collected 37 posting them online. Non-compliant percent of the city's Airbnb revenue.76 platforms could face fines of up to $1,000 • Subsequently, in 2016 Governor Cuomo per day.73 made it illegal to advertise an apartment • The system was implemented in January of for rent for less than 30 days on a VRU 2018, resulting in Airbnb listings decreasing platform.77 Offenders could be fined up to by almost 50 percent.74 $7,500.78 Barcelona, Spain • A 2016 study revealed that 40 percent of Barcelona VRUs are illegal. The report also blamed Barcelona's 33 percent rise in rent since 2013 on the increase in tourist accommodations/9 • Professionally-owned tourist apartments must be licensed, and owners of illegally advertised properties face fines of up to€60,000 80 • Barcelona doubled its VRU enforcement team from 20 to 40 inspectors. By 2018 the city will have over 100 inspectors.81 Current State of VRU Enforcement Oahu VRU Enforcement Actions Increased enforcement is essential to ensuring that the VRU 1200 1035 industry in Hawaii remains in check. Additionally, the burden 1000 for proving a violation should be reduced—enforcement 800 agencies claim that advertising the unit as a VRU is not, on 600 its own,sufficient proof it is being used as a VRU.On Oahu for 400 example, from January through August of 2017, Honolulu's 200 Department of Planning and Permitting (DPP) conducted 49 2 1,035 VRU investigations. Theyissued 49 notices of violation, 0 g Initial Violation Code only two of which were referred to the Code Compliance Investigations Notices Compliance Branch for civil fines.70 Referrals Recommendations Reduce the Burden of Proof As mentioned in the preceding section, enforcement agencies claim that an internet ad is purportedly not enough evidence to issue a violation, and it is difficult to gather evidence to prove that someone is renting a unit for less than 30 days.71 Allowing investigators to use online advertisements as evidence will shift the burden of proof to the host.There are several options available: • Implement fines. Other locations, inc:!uding Austin, Texas,72 and New York State,73 have banned the hosts of unlicensed or noncompliant short-term rentals from advertising, imposing fines on those that do. San Francisco has taken the practice of fining even further, placing the burden of enforcement on rental platforms. Plaiforms are fined$1,000 per day per unregistered host.74 • Demand data transparency from Internet platforms to identify illegal operators and impose requirements that remove noncompliant listings from platforms. In San Francisco, homesharing platforms must remove unregistered listings or face a fine. They also must collect data from their hosts and pass it on the city.75 • Model Honolulu's Bill 20 regarding Accessory Dwelling Units (ADUs). Honolulu has included strong enforcement provisions in its regulations on ADUs. In 2015, Bill 20 allowed homeowners to build ADUs on their property to create moreaffordable rental units.The bill stipulated that rentals cannot be for less than six months and the property owner or property owner's relative must occupy the primary dwelling unit on the property. In addition, Bill 20 strengthened DPP's:enforcement powers by placing the burden of proof on the homeowner. Inspectors can use cdvertisements on the Internet as proof that an accessory dwelling unit is being used as a VRU. Advertising without a permit creates a presumption that the unit is being illegally rented and requires the owner to prove that it is not.76 Advertising the ADU as a VRU can result in revocation of the ADU permit and fines of $1,000 per day.77 Regulations on VRUs themselves must have equally strong enforcement tools. Plan Carefully for Expansion of Permitting Hawaii cannot bear the heavy load of V(RUs that has been building over recent years. However, if enforcement efforts successfully reduce the number of illegal VRUs, it may be appropriate to consider a modest, controlled expansion of permits, in which case, the following factors should be considered: • Neighbors should be informed of any permit applications submitted in their neighborhoods and be given an opportunity to contest the applications. • Permits should be dispersed fairly around the island, not concentrated in one particular community that will be overburdened. • All advertising material, including websites, should include the property owner's permit number, address, and resort zoning classification. • Each unit's property owner or resident should be required to be present during guests' stays. • Fines for unpermitted units should commence at the issuance of the first notice of violation. Fines should start low but increase substantially with subsequent violations to the level where they eliminate the possibility of still making a profit after paying the daily fines. Correcting a violation should not dismiss the assessed fines. Broaden the Authority of Enforcement Agencies Enforcement agencies like the DPP would benefit from more staff and a greater focus on deterrence, not just compliance. Fines from noncompliant VRUs should be used to fund DPP enforcement expansion. Support Increased Community Involvement Community members can work in partnership with enforcement agencies to protect their neighborhoods. Counties should establish a hotline or reporting app to monitor VRUs and require hosts to notify their neighbors that they have applied for a VRU permit. Furthermore, neighbors should be explicitly allowed to use state courts to appeal for enforcement against specific units in their neighborhoods, or to bring claims against neighborhood hosts directly. Conclusion While the VRU industry is arguing that vacation rentals are boosting Hawaii's economy and residents' incomes, in reality, VRU are doing more harm than good.The proliferation of VRUs—the majority of which are owned by nonresidents—is reducing the housing stock available to families who live and work in Hawaii and increasing our already high housing costs. Residents who have been struggling for years under the pressures of expensive housing and relatively low wages are reaching their breaking point. Families who have lived in Hawaii for generations are being displaced from their homes and their islands by a steady flow of short-term visitors.While Hawaii welcomes its visitors and recognizes their importance to our economy,tourism needs to be carried out in a way that is balanced and sustainable over the long- term. The current state of VRUs in Hawaii is not. Hawai'i needs to take action before further damage is done. Endnotes 1 2016 American Community Survey 1-Year Estimates Ranking Tables,R2511 and R2514,2016.Available at http://files.hawaii.gov/dbedt/census/acs/ACS2016/ACS2016_1_Year/state_rank/16_state_ranking_file.pdf 2 Kolko,Jed.Cities Where Salaries Go Furthest in the U.S.,Indeed Hiring Lab(Aug.24,2017).Available at http://www.hiringlab.org/2017/08/24/salaries-go-furthest-in-us- cities/?utm_source=Grassroot+Institute+N ewsletter&utm_campaign=d062b83822- Prez Column_10_6_17&utm_medium=email&utm_term=0_9da0flcle4-d062b83822- 164734697&ct=t(Prez Column_10_6_17)&mc_cid=d062b83822&mc_eid=43e403dd28 3 The 2017 Annual Homeless Assessment Report(AHAR)to Congress,The U.S.Department of Housing and Urban Development, Dec.2017(p.65).Available at https://www.hudexchange.info/resources/documents/2017-AHAR-Part-1.pdf 4 Selected Housing Characteristics,2016 American Community Survey 1-Year Estimates, U.S.Census Bureau.Available at https://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_16_1 YR_DP04&prodType=table 5 FMR History for Honolulu County,HI, HUD User.Available at:https://www.huduser.gov/portal/datasets/fmr/fmril_history/history_fmr.odn?inputname=METR046520M46520"Honolulu%20Cou nty%2B 1500399999&county_select=yes&statename=Hawaii&statefp=l 5&stusab=Hl&fmr_year=2016&il_year=2016&area_choice=c aunty;Median Household Income by State. Historical Income Tables:Households,U.S.Census Bureau.Available at https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-households.html 6 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.5,34).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_111416-FINAL-122216.pdf 7 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p. 16).Available at https://dbedt.hawaii.gov/hhfdc/files/2017/03/State_HHPS2016_Report_031317_final.pdf 8 Cassiday,Rick.Oahu Rental Housing Study,Department of Community Services City&County of Honolulu,2014(p.55). Available at https://dbedt.hawaii.gov/hhfdc/files/2015/02/RENTAL-HOUSING-STUDY-2014-UPDATE-CITY-COUNTY-OF-HONOLULU.pdf 9 Residential Homes Sales in Hawaii,Department of Business,Economic Development and Tourism Research and Economic Analysis Division,May 2016(p.18).Available at http://files.hawaii.gov/d bedt/economic/data_reports/homesale/Residential_Home_Sales_i n_Hawa ii_May2016.pdf 10 The Impact of Vacation Rental Units in Hawaii,2016,SMS Research&Marketing Services for Hawaii Tourism Authority Research Division,Nov.2016(p.2-3).Available at http://www.hawaiitourismauthority.org/default/assets/File/Housing%20and%20Tourism%20113016.pdf II Out of Reach 2017:The High Cost of Housing,National Low Income Housing Coalition,2017(pp. 16,66).Available at: http://nlihc.org/sites/default/files/oor/OOR_2017.pdf 12 Census Data Highlights, Hawaii State Data Center,Sept.2017.Available at http://files.hawaii.gov/dbedt/census/acs/ACS2016/ACS2016_i_Year/Other_Files/ACS_2016_Analysis_DBEDT_final.pdf 13 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.35).Available at https://dbedt.hawaii.gov/hhfdc/files/2017/03/State_HHPS2016_Report_031317_final.pdf 14 Annual Report, Hawaii Housing Finance and Development Corporation,2015(p.3).Available at http://files.hawaii.gov/dbedt/annuals/2015/2015-hhfdc.pdf 15 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawai'i Housing Finance and Development Corporation, Dec.2016(p.5,34).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_1 1 1416-FINAL-122216.pdf 16 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.8).Available at https://dbedt.hawaii.gov/hhfdc/files/2017/03/State_HHPS2016_Report_031317_final.pdf 17 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.73).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_1 1 1416-FINAL-122216.pdf 18 Testimony of Kamana'opono Crabbe Relating to Land Use Ordinance, Office of Hawaiian Affairs,Dec.9,2015(p.2). 19 Who Pays?5m Edition,Institute on Taxation and Economic Policy,Jan.2015(p.15).Available at https://itep.org/wp- content/uploads/whopaysreport.pdf 20 Kolko,Jed.Cities Where Salaries Go Furthest in the U.S., Indeed Hiring Lab(Aug.24,2017).Available at http://www.hiring lab.org/2017/08/24/salaries-go-furthest-i n-us- cities/?utm_source=Grassroot+Institute+Newsletter&utm_ca m paign=d062b83822- Prez Column_10_6_17&utm_medium=email&utm_term=0_9da0f1 cl e4-d062b83822- 164734697&ct=t(Prez_Column_10_6_17)&mc_cid=d062b83822&mc_eid=43e403dd28 21 Alice:A Study of Financial Hardship in Hawaii,Aloha United Way,2017 (p. 1).Available at https://www.auw.org/sites/default/files/United%20Way%20ALICE%20Report%20-%20Hawaii%2C%202017.pdf 22 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.7).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_1 11416-FINAL-I22216.pdf 23 2017 State Housing Profile,National Low Income Housing Coalition,June 14,2017.Available at http://nlihc.org/sites/default/files/SHP_Hl.pdf 24 Out of Reach 2017:The High Cost of Housing,National Low Income Housing Coalition,2017(pp. 16,66).Available at: http://nlihc.org/sites/default/files/oor/OOR_2017.pdf 25 Geminiani,Victor&Chin,Jennifer.Evicted in Hawaii-Lives Hanging in the Balance, Hawaii Bar Journal,2016(p.30-32). 26 Yuan,S.,&Gauci,K.T.Homeless Service Utilization Report:Hawai`i 2016, University of Hawaii Center on the Family,2017(p.7). Available at:http://uhfamily.hawaii.edu/publications/brochures/b761f HomelessServiceUtilization2016.pdf 27 The 2017 Annual Homeless Assessment Report(AHAR)to Congress,The U.S.Department of Housing and Urban Development, Dec.2017(p.65).Available at https://www.hudexchange.info/resources/documents/2017-AHAR-Part-1.pdf 28 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawai'i Housing Finance and Development Corporation, Dec.2016(p.18-19).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_l 11416-FINAL-122216.pdf 29 2017 Visitor Plant Inventory,Hawaii Tourism Authority,2017(p.70).Available at http://www.hawaiitourismauthority.org/default/assets/File/reports/accommodations/2017%20VISITOR%20PLANT%201 N V ENTORY%20 REPORT%20-%2001-17-2018.pdf 30 2015 Visitor Plant Inventory,Hawaii Tourism Authority,2015(p.72).Available at http://www.hawaiitourismauthority.org/default/assets/File/reports/accommodations/2015%20VISITOR%20PLANT%20I N VENTORY%2 OREPORT.pdf 31 QuickFacts Hawaii,Housing, U.S.Census Bureau.Available at:https://www.census.gov/quickfacts/HI 32 Individually Advertised Units in Hawaii,SMS Research&Marketing Services for Hawaii Tourism Authority,Dec 2014(p.3,7,8). Available at http://www.hawaiitourismauthority.org/default/assets/File/research/accommodations%20studies/Individually%20Advertised%20U n its%20in%20Hawaii%20(Vacation%20Rentals).pdf 33 Geron,Tomb.Airbnb Had$56 Million Impact On San Francisco:Study, Nov.9,2012.Available at https://www.forbes.com/sites/tomiogeron/2012/11/09/study-airbnb-had-56-million-impact-on-san-francisco/#352e35413962 34 Available data show that out of a total of 45,075 short-term rentals,including those characterized as"residential"(VRUs)and those characterized as"commercial,"31,402(70 percent)were owned by nonresidents and 13,673(30 percent)were owned by residents.According to the same data set,28,398 of the 45,075 short-term rentals are"residential"(VRUs).Making the most conservative assumption possible—that residents owned only VRUs and no"commercial"rentals—nonresidents would own 14,725 (52 percent)of the VRUs in Hawaii.The Impact of Vacation Rental Units in Hawaii,2016,SMS Research&Marketing Services for Hawaii Tourism Authority Research Division,Nov.2016(p.6).Available at http://www.h awaiitourisma uth on ty.org/defa ult/assets/File/Housing%20a nd%20Tourism%201 13016.pdf 35 Cassiday,Rick.Airbnb&Hawaii Housing,Jan.9,2017(p.14).Available at https://www.airbnbcitizen.com/wp- content/uploads/sites/27/2017/01/HawaiiAirbnbReportDesigned.pdf 36 Hawaii's Home and Vacation Rental Market:Impact and Outlook,JLL for Hawaii Tourism Authority, Dec 29,2016(p.33). Available at http://www.hawaiitourismauthority.org/default/assets/File/JLL%20Report_Impact%20of%20Home%20Rental%20Market%20on%20H aw a i i_12-29-2016.p d f 37 2017 Visitor Plant Inventory,Hawaii Tourism Authority,2017(p.60).Available at http://www.hawaiitourismauthority.org/default/assets/File/reports/accommodations/2017%20VISITOR%20PLANT%20I NVENTORY%20 REPORT%20-%2 001-17-2 018.p d f 35 Cassiday,Rick.Airbnb&Hawaii Housing,Jan.9,2017(p.2).Available at https://www.airbnbcitizen.com/wp- content/uploads/sites/27/2017/01/HawaiiAirbnbReportDesigned.pdf 39 Hosts with Multiple Units-A Key Driver of Airbnb Growth,CBRE Hotels'Americas Research,March 2017(p. 19).Available at h ttps://www.a hla.com/sites/defa ult/files/C B R E_AirbnbStudy_2017.pdf 40 Amending the Regulation of Short-Term Residential Rentals:Economic Impact Report,City and County of San Francisco,May 18,2015(p.8).Available at http://sfcontroller.org/sites/default/files/FileCenter/Documents/6458- 150295_econom ic_im pact_final.pdf?doc umenti d=6457 41 How Airbnb Short-Term Rentals Exacerbate Los Angeles's Affordable Housing Crisis:Analysis and Policy Recommendations, Harvard Law and Policy Review,Feb 2,2016(p.231,240).Available at: http://blogs.0 bc.ca/canadia n l iteratureparkinson/files/2016/06/H ow-Airbn b-Short-term-rentals-d isru pted.pdf 42 Woolf,Nicky.Airbnb and house-sharing firms reduced New York housing stock by 10%-study,The Guardian,June 27,2016. Available at https://www.theguardian.com/us-news/2016/jun/27/airbnb-new-york-city-housing-stock-reduction-study 43 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawaii Housing Finance and Development Corporation, Dec.2016(p.58).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_111416-FINAL-122216.pdf "Financial Characteristics 2016 American Community Survey 1-Year Estimates,U.S.Census Bureau,2016.Available at https://factfinder.census.gov/faces/tableservices/jsf/pages/productviewxhtml?pid=ACS_16_1YR_S2503&prodType=table;Zip Code Boundaries:US Census Bureau.Available at https://www2.census.gov/geo/tiger/TIGER2010/ZCTA5/2010;Median Contract Monthly Rent:2015 American Community Survey 5-year Estimates Table B25058, U.S.Census Bureau,2015.Available at https://factfinder.census.gov/faces/tableservices/jsf/pages/productviewxhtml?src=bkmk;Zip Codes,Honolulu Open Data,City& County of Honolulu(2017).Available at http://honolulu- cchnl.opendata.arcgis.com/datasets/62431 dd72960448087a287fa06b87bf5_7;Honolulu,Airdna,Sept.2017.Available at https://www.airdna.co/market-data/a pp/us/hawaii/h onolu lu/overview 45 Hawaii's Home and Vacation Rental Market:Impact and Outlook,JLL for Hawaii Tourism Authority,Dec 29,2016(p.26). Available at http://www.hawaiitourismauthority.org/default/assets/File/JLL%20Report_Impact%20of%20Home%20Rental%20Market%20on%20H awaii_l 2-29-2016.pdf 46 Table 21.01—Number and Value of Building Permits,by county: 1958 to 2016,The State of Hawaii Data Book,The Department of Business,Economic Development&Tourism,2016(p. 1006).Available at http://files.hawaiii.gov/dbedt/economic/databook/db2016/db2016.pd f 47 Logan,David.Property Taxes by State-2016,National Association of Home.Builders,Oct 2,2017.Available at http://eyeonhousing.org/2017/10/property-taxes-by-state-2016/ 48 Minutes,Council of the County of Maui Planning Committee,6/16/16(p.13).Available at https://www.mauicounty.gov/ArchiveCenter/ViewFile/Item/21920 49 Individually Advertised Units in Hawaii,SMS Research&Marketing Services for Hawaii Tourism Authority,Dec 2014(p.4). Available at http://www.hawaiitourismauthority.org/default/assets/File/research/accommodations%20studies/Individually%20Advertised%20U n its%20in%20Hawaii%20(Vacation%20Rentals).pdf 50 Individually Advertised Units in Hawaii,SMS Research&Marketing Services for Hawaii Tourism Authority,Dec 2014(p.8). Available at http://www.hawaiitourismauthority.org/default/assets/File/research/accommodations%20studies/Individually%20Advertised%20U n its%20in%20Hawaii%20(Vacation%20Rentals).pdf 51 Cassiday,Rick.Maui Rental Market,Department of Housing and Human Concerns County of Maui,2014(p.3).Available at https://dbedt.hawaii.gov/hhfdc/files/2015/02/RENTAL-HOUSING-STUDY-2014-UPDATE-COUNTY-OF-MAU I.pdf 52 Residential Homes Sales in Hawaii, Department of Business,Economic Development and Tourism Research and Economic Analysis Division,May 2016(p.18).Available at http://files.h awaii.gov/dbedt/economic/data_re ports/homesale/Residential_Home_Sales_in_H awaii_May2016.pdf 53 The Impact of Vacation Rental Units in Hawaii,2016,SMS Research&Marketing Services for Hawaii Tourism Authority Research Division,Nov.2016(p.20).Available at http://www.hawaiitourismauthority.org/default/assets/File/Housing%20and%20Tourism%20113016.pdf 54 Individually Advertised Units in Hawaii,SMS Research&Marketing Services for Hawaii Tourism Authority,Dec 2014(p.4). Available at http://www.hawaiitourismauthority.org/default/assets/File/research/accommodations%20studies/Individually%20Advertised%20U n its%20in%20Hawaii%20(Vacation%20Rentals).pdf 55 Cassiday,Rick.Maui Rental Market,Department of Housing and Human Concerns County of Maui,2014(p.27-28).Available at https://dbedt.hawaii.gov/hhfdc/files/2015/02/RENTAL-HOUSING-STUDY-2014-UPDATE-COUNTY-OF-MAU I.pdf 56 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawai'i Housing Finance and Development Corporation, Dec.2016(p.7).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_11 1416-FINAL-122216.pdf 57 Hawaii Housing Planning Study,SMS Research&Marketing Services for Hawai'i Housing Finance and Development Corporation, Dec.2016(p.22,26,29).Available at https://dbedt.hawaii.gov/hhfdc/files/2016/12/State_HHPS2016_Report_11 1416-FINAL- 122216.pdf 58 Spence,William.Report to the Planning Commissions and the County Council Pursuant to Ordinance 3941 (2012),Section 16, and a Proposed bill for an Ordinance Amending Title 19,Maui County Code,Relating to Zoning as it Pertains to Short-term Rental Homes, County of Maui Department of Planning,April 29,2014(p.2, 131-132).Available at https://www.mauicounty.gov/DocumentCenter/View/91217 59 Barcelona fines Airbnb and HomeAway 60,000 euros each, Ajuntament de Barcelona.Available at https://ajuntament.barcelona.cat/turisme/en/noticia/barcelona-fines-airbnb-and-homeaway-60000-euros-each b0 Ordinance No.218-14, Board of Supervisors of the City and County of San Francisco,Oct.17,2014(p.19).Available at http://www.sfbos.org/ftp/uploadedfiles/bdsu pvrs/ordinances 14/00218-14.pdf 61 Homesharing in San Francisco:A Review of Policy Changes and Their Impacts,Bay Area Council Economic Institute,Jan.2018 (p.2-3).Available at http://www.bayareaeconomy.org/files/pdf/BACEI_Homesharing_11 12018.pdf 62 Said,Carolyn.Airbnb listings in San Francisco plunge by half,San Francisco Chronicle,Jan 16,2018.Available at https://www.sfchronicle.com/business/article/Airbnb-listi ngs-in-Sa n-Francisco-plunge-by-ha If-12502075.ph p 63 Chapter 225,New York City,2010(p. 1).Available at https://wwwl.nyc.gov/assets/buildings/pdf/NYS_chapter 225.pdf 64 A.G.Schneidermand Releases Report Documenting Widespread Illegality Across Airbnb's NYC Listings:Site Dominated By Commercial Users,New York State Office of Attorney General,Oct. 16,2014.Available at https://ag.ny.gov/press-release/ag- sch neiderman-releases-report-docu menti ng-w idespread-i llegal ity-across-airbnbs-nyc 65 Cox,Murray.NYC:Report on the Anti-Airbnb Advertising Law, Inside Airbnb,Nov.16,2016.Available at http://insidea irbnb.com/nyc-report-on-the-an ti-airbn b-advertising-law/ 66 Rosenberg,Zoe.Illegal Airbnb listings in NYC will now incur hefty fines, Curbed New York,Oct.21,2016.Available at https://ny.curbed.com/2016/10/21/13361942/airbnb-illegal-short-term-rentals-fines-nyc 67 Lomas,Natasha.Airbnb faces fresh crackdown in Barcelona as city council asks residents to report illegal rentals,Tech Crunch, Sept. 19,2016.Available at https://techcrunch.com/2016/09/19/airbnb-faces-fresh-crackdown-in-barcelona-as-city-council-asks- residents-to-report-i Ilegal-rentals/ 68 Shankman,Samantha.Barcelona Overtourism:Airbnb and Short-Term Rentals,Skift,Aug.3,3017.Available at https://skift.com/2017/08/03/barcelona-overtourism-a irbnb-and-short-term-rentals/ 69 Burgen,Stephen.Barcelona cracks down on Airbnb rentals with illegal apartment squads,The Guardian,June 2,2017.Available at https://www.theguardian.com/technology/2017/jun/02/airbnb-faces-crackdown-on-illegal-apartment-rentals-in-barcelona 70 Donnelly,Christine.City addresses complaint on vacation rental enforcement, Honolulu Star-Advertiser,Sept. 13,2017.Available at http://www.staradvertiser.com/2017/09/13/hawaii-news/kokua-line/city-addresses-complaint-on-vacation-rental-enforcement/ 71 Donnelly,Christine.City addresses complaint on vacation rental enforcement, Honolulu Star-Advertiser,Sept. 13,2017.Available at http://www.staradvertiser.com/2017/09/13/hawaii-news/kokua-line/city-addresses-complaint-on-vacation-rental-enforcement/ 72 Short Term Rental News Release and FAQ,Austin Code Department,March 17,2016.Available at http://austi ntexas.gov/article/short-term-rental-news-release-and-faq 73 Rosenberg,Zoe.Illegal Airbnb listings in NYC will now incur hefty fines,Curbed New York,Oct 21,2016.Available at https://ny.curbed.com/2016/10/21/13361942/airbnb-illegal-short-term-rentals-fines-nyc 74 Weise, Elizabeth.Airbnb rentals in San Francisco may dive with new host rules, USA Today,May 1,2017.Available at https://www.usatoday.com/story/tech/news/2017/05/01/airbnb-san-francisco-settlement-regulations-illegal- homeaway/1 01 1 68688/ 75 Homesharing in San Francisco:A Review of Policy Changes and Their Impacts,Bay Area Council Economic Institute,Jan.2018 (p.2-3).Available at http://www.bayareaeconomy.org/files/pdf/BACEI_Homesharing_1 1 12018.pdf 76 Ordinance 15-41,City and County of Honolulu,2015(p.5,7).Available at: http://www4.honolulu.gov/docushare/dsweb/Get/Document-168733/dspage03688827543855432191.pdf 77 Accessory Dwelling Unit Homeowners'Handbook,Hawaii Appleseed Center for Law&Economic Justice(p.30).Available at http://hawa i iad u.org/w p-content/uploads/2016/03/H awa iiA DU-Ha nd book.pdf/ 119 Merchant Street, Suite 605A Honolulu, Hawai`i 96813 (808) 587-7605 www.hiappleseed.org • !j Board of Directors David J. Reber, Esq., President Naomi C. Fujimoto, Esq.,Secretary Patrick Byrne Michael R. Cruise, Esq. David Derauf, M.D. Joyce Lee-Ibarra Neal Milner Nathan Nelson, Esq. Blake Oshiro, Esq. Garret Sugai Co-Executive Directors Victor Geminiani Gavin Thornton Hawaii Appleseed is working to build a Hawaii where everyone has genuine opportunities to achieve economic security and fulfill their potential. We change systems that perpetuate inequality through research, policy development, education, coalition building, and advocacy. HAWAII APPLESEED CENTER FOR LAW & ECONOMIC JUSTICE TOWN OF VAII ` Short-Term Rental (STR) Self-Compliance Affidavit Please Note:All statements listed below must be initialed. Failure to initial any question will delay your license issuance. STR Property Address: Owner's Name(s) or Name of Ownership: Occupancy:Occupancy limits of 2 per bedroom,plus 2 will be adhered to and appropriately listed in rental advertisements Number of Bedrooms: Total Overnight Occupancy Advertised: Health&Life Safety Standards: Buildings,structures or rooms shall not be used for purposes other than those for which they were designed or intended. Roofs,floors,walls,foundations,ceilings,stairs,handrails,guardrails,doors,porches,all other structural components and all appurtenances thereto shall be capable of resisting any and all forces and loads to which they may be normally subjected,and shall be kept in sound condition and in good repair The street address,license number,local agent and property owner contact information is posted conspicuously in the interior of the property. The operation of the short-term rental will comply with all town ordinances that apply to a residential dwelling. Smoke detectors are installed outside of each sleeping area,in each room used for sleeping purposes,and on each level of a living area,including basements. Carbon monoxide detectors are installed within twenty feet of sleeping areas,within twenty feet of fuel fired appliances(including wood/gas fireplaces),and within 10 feet of the doorway of an attached garage. Fire extinguishers are located within thirty feet of the kitchen,on each level of a living area,and in the garage; and they are readily available for immediate use. Wood Burning Fireplaces/Stoves-Fireplaces and flues are maintained in accordance with recognized standards and have been inspected and cleaned on an annual basis. Proof of inspection and cleaning for the current year is required to be available upon request. An operable toilet,sink,and either a bathtub or shower shall be located within the same building,and every room containing a toilet or bathtub/shower shall be completely enclosed by walls,doors,or windows that will afford sufficient privacy. Electrical panels shall be accessible at all times with 36 inches of clearance maintained in front of the panels,and shall be clearly labeled. Outdoor Fires—portable outdoor fireplaces are prohibited. Portable electric space heaters shall not be operated within 3 feet of combustible materials and shall not be plugged into extension cords. Space heaters must be plugged directly into outlets. The use of outdoor heating appliances is prohibited on balconies. Outdoor heating appliances shall not be operated beneath or closer than 5 feet to buildings,overhangs,awnings,sunshades or similar combustible attachments. Property Address- Property address is required to be visible from the street. Minimum 4 inches in height,'/2"width numbers permanently affixed on a contrasting background. Emergency Exits- The property must have a map or floor plan Community Impacts: Renters will be informed that on-street parking is not allowed. Adequate parking spaces will be provided for renter's use. Renters will be informed of the noise ordinance. No excessive or unreasonable noise will be permitted at any time. Renters will be informed of trash/recycling regulations and scheduled trash pickup times. A sufficient number of trash and recycling receptacles to accommodate all trash generated by those occupying the short-term rental property and all receptacles shall comply with Town Code. Night lighting ordinances will be complied with to reduce exterior light usage after dark. If pets are allowed,renters will be informed of leash laws,pet waste disposal,and barking/noise considerations. The operation of the short-term rental will comply with the"Good Neighbor Guidelines"and a copy of the guidelines will be provided to the renters in the rental agreement or by posting it in a prominent location within the property. Advertising: All advertising for this short-term rental shall include the short-term rental license number,immediately following the description of the property. By completing and signing this affidavit I(we)affirm that,under pains and penalties of perjury,that I have inspected this property and that it complies with all applicable laws,and codes. Owner Signature Printed Name Date Owner Signature Printed Name Date Subscribed and affirmed before me in the county of State of ,this day of ,20 . (Notary's official signature) Notary Seal (Commission Expiration) - - INSIGHTS - FOCUS AREAS - DATA - U HERE) NEWS ABOUT - SUPPORT - Q It *,;N;;y: _ "",'11„414, 2‘.:t94974;7:::e7-;:e1.7.110[ ,ynir c _ _ _ .4•Z • 'fir Short-term Vacation Rentals and Housing Costs in Hawaij. April 18,2023 $, SLlnafu�.J in Typ 8!,ftgS,housing.VH�0 5 r lt • - BLOG POSTS ARE PRELIMINARY MATERIALS CIRCULATED TO STIMULATE DISCUSSION AND CRITICAL COMMENT. THE VIEWS EXPRESSED ARE THOSE OF THE INDIVIDUAL AUTHORS. WHILE BLOG POSTS BENEFIT FROM ACTIVE UHERO DISCUSSION, THEY HAVE NOT UNDERGONE FORMAL ACADEMIC PEER REVIEW. By Rachel Inafuku and Justin Tyndall Of the state's 565,000 total housing units, 30,000 are listed as Short-term Vacation Rentals (STRs), meaning roughly 5% of local housing units operate as tourist accommodations. In a tight housing market with high prices and barriers to creating new supply, removing supply from the long-term housing market could harm residents by raising housing costs. However, we don't know exactly how much STRs impact rents and home prices. The founding of Airbnb in 2008 made it possible to convert housing stock into visitor accommodations with minimal effort and cost. In subsequent years, many other online platforms began offering similar services to facilitate STRs. The impact of these services on the housing market has been a topic of concern for many cities, particularly tourist destinations with high housing costs. With the highest housing costs in the nation, Hawaii fits that description. To track the use of STRs in Hawaii, the Hawaii Tourism Authority (HTA) commissioned the collection of data on all major STR providers in the state. As shown in the maps below, STRs have a significant presence in almost every neighborhood in the state, despite being prohibited in several jurisdictions. The maps display STRs available for at least one night during February of 2023, as a share of the area's total housing stock. While STRs are present almost everywhere, STRs have a much higher concentration in tourist centers, such as Waikiki and West Maui. Maui Oahu H Molokai Kauai UH[ROAna ICS A Percentage of Housing Units Listed as a STR 0-1 1-2 2-5 5-10 '',so Leafbl Tee, Ean—Esn DeLane NAVTED The maps display data by census tract. The color of each tract shows the number of STR platform listings in February of 2023 divided by the number of local housing units according to the 2021 American Community Survey. The current prevalence of STRs has been fairly constant since 2019, as shown in the graph below. In the summer of 2019, Oahu increased penalties for operating an STR outside of designated resort zones, which resulted in a notable dip in listings. Despite evolving STR policies across counties, the stock of operating STRs in the state remains high. Total STR Listings Maui 12k v--=^O'ahu -Hawai i Kauai 10k Molokai 8k sk a UHEROAnal is 2k 0 Jan 2019 Jul 2019 Jan 2020 Jul 2020 Jan 2021 Jul 2021 Jan 2022 Jul 2022 Jan 2023 The total number of STR listings over time are shown. Comparing STR prevalence in Hawaii to other jurisdictions can give an idea of the scope of the issue. While we do not have national data across all STR platforms, we do have national data on Airbnb listings specifically. In Hawaii, 82% of STRs are posted on Airbnb (although many are cross-posted on other platforms, which we control for to avoid double counting). Comparing Airbnb listings specifically can therefore provide a useful point of comparison. US cities that have been particularly concerned with the rise of STRs include San Francisco, where 1.4% of housing units are Airbnbs, New York City (0.6%), and Las Vegas (0.6%). In Hawaii, the situation is relatively extreme. The share of the state's housing stock posted on Airbnb is 4.7%, more than three times higher than San Francisco and more than seven times higher than New York City. On the Neighbor Islands, the rates are higher still. Maui County has 12% of all housing units listed on Airbnb and on Kauai the figure is 14%. In the graph below, we provide an estimate of the full STR counts across jurisdictions by assuming that Airbnb's market share in other cities is the same as it is within Hawaii. STR Listings as a Percentage of Housing Stock Kauai County Maui County Hawaii County State of Hawaii Honolulu County Los Angeles Seattle San Francisco New York City . Las Vegas ■ UHERO 411 Chicago . 0°0 5°° 10% 150. ■ Awbnb Listings ■ Non-Mbnb STR listings(aPProxime*ed) Airbnb listings are known from data collected by Inside Airbnb. We use the share of STR listings across all platforms that are listed on Airbnb in Hawaii (82%) and assume this share is the same in other markets in order to approximate the STR shares across all platforms. Because STRs in Hawaii comprise a large share of total housing, especially in certain areas, STRs have the potential to wield significant influence on local rents and home prices. Each STR represents a housing unit that could otherwise be part of the local supply of permanent housing, exacerbating the state's current housing shortage. While many factors contribute to high housing costs, the economic logic linking STRs to increases in the cost of housing is fairly unequivocal: diverting units from the pool of long-term housing reduces long-term housing supply and pushes up rents and home prices. The direction of the price effect is clear, it is the size of the impact that is difficult to estimate. Supply and Demand Graph of Housing UHERO 1611 c o ^ o � a) 0- U 4 Q 0 0�a Quantity of Housing In the short-run, housing supply in Hawaii is inelastic, meaning the Quantity of Housing does not change significantly when there is a change in the Price of Housing. When housing units are diverted to STRs, the supply of housing shrinks, pushing the price of housing higher. Using findings from peer-reviewed studies that estimated the effects of STRs on home prices in other cities, we can estimate the likely housing cost impact of STRs in Hawaii. A Barcelona study comparing STR activity near and far from tourist attractions found that adding 50 STRs to a neighborhood increased rents by 2% and home prices by 5%, with larger effects in the most touristy areas. A study from Los Angeles looking at an STR policy change showed that reducing Airbnbs by 50% led to a 2% reduction in home prices and rents. A study of London found that a doubling of the Airbnb stock led to an 8% increase in rents. By borrowing findings from the Los Angeles, Barcelona, and London studies, we provide estimates of the effect STRs have had on local rents and home prices on Oahu. The prevalence of STRs on Oahu (2.4% of housing units) is not dramatically different from that of LA (0.9%), Barcelona (2.6%), and London (3.0%), when those cities were studied. However, the share of STRs on the Neighbor Islands is significantly larger than in any of the study areas, making them much less comparable. Therefore, we only apply the estimates from prior studies to Honolulu County. To estimate the effect of STRs on home prices and rents, we apply findings from the previous studies, but linearly scale their results to match the STR prevalence on Oahu. In the figures below, we estimate the level that median home prices and rents would be on Oahu if STRs were completely eliminated. This is a somewhat more extreme policy than has been considered. However, as of February, 73% of STR units on Oahu were operating outside of designated resort zones. Looking at median home prices, estimates from the LA and Barcelona studies imply that, in the absence of all STRs, prices on Oahu would be 4-6% lower than they are currently. The median sale price across all housing units on Oahu (house or condominium) in 2022 was $860,000. Based on the estimated price effects from these studies, removing all STRs would push the median price down to the $810-$820,000 range. As for rents, there is a slightly wider range of estimates. The LA study implies that eliminating all STRs would decrease Oahu's rents by 2%. Estimates from Barcelona suggest a 6% drop and estimates from London suggest an 8% drop. The median rent paid on Oahu is currently $1,880. According to prior studies, removing all STRs could lower the median monthly rent by anywhere from $35 to $160. While Honolulu County's STR prevalence is not dramatically different from the other study areas, other characteristics of Hawaii's housing market are significantly different. Using the findings provided by prior research can provide only rough estimates of the possible magnitude of STRs' impact on home prices and rents. The accuracy of estimates relies on the assumptions underlying the prior studies, as well as our assumption that the housing market on Oahu would behave comparably to changes in STRs. Estimated Effect of Removing All STRs on Oahu Median Home Price 900k $860000 800k RO Anal is 700k 600k u u 0 500k I 400k c i5 300k 200k 100k 0 Estimates ■ Actual Median Price ■ No STR Price,LA Study Estimate Si No STR Price,Barcelona Study Estimate The first bar shows the actual median home price on Oahu, the subsequent bars show an estimate of what home prices would be if all STRs were eliminated. The London study focussed only on rents rather than home prices and is therefore not shown. Estimated Effect of Removing All STRs on Oahu Median Rent RO it' 1800 $1884 • 1600 isr 1400 C 1200 1000 C 800 o ; a E 600 400 200 0 i Estimates Actual Median Rent ■ No STR Rent,LA Study Estimate x No STR Rent,Barcelona Study Estimate No STR Rent,London Study Estimate The first bar shows the actual median monthly rent on Oahu, the subsequent bars show an estimate of what rents would be if all STRs were eliminated. Whether the estimated price effects should be considered small or large is a matter of interpretation. If these price reductions were realized, Oahu would still suffer from extremely high home prices. Oahu's median home price would still exceed the median price of any state in the US. However, the roughly 5% reduction in housing costs would represent a sizable improvement in the standard of living for renters and first-time home buyers, particularly lower- income residents for whom housing costs represent a large share of overall expenses. There is evidence from other markets that STRs increase both home prices and rents. In Hawaii, STRs play a truly outsized role in the housing market compared to other locations. While far from a silver bullet to address the state's housing shortage, the scale of the market suggests that changes to the regulatory environment around STRs would have significant consequences for the housing market. The authors would like to thank India Alford for her valuable research assistance on this project. Funded by the Coronavirus State Fiscal Recovery Fund: Data Infrastructure and Analysis for Health and Housing Program and Policy Design - Response to Systemic Economic and Health Challenges Exacerbated by COVID-19 (State of Hawaii award number 41895) References Koster, H. R., Van Ommeren,J., &Volkhausen, N. (2021). Short-term rentals and the housing market: Quasi-experimental evidence from Airbnb in Los Angeles.Journal of Urban Economics, 124, 103356. Garcia-Lopez, M. A.,Jofre-Monseny,J., Martinez-Mazza, R., & Segu, M. (2020). Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona.Journal of Urban Economics, 119, 103278. Shabrina, Z., Arcaute, E., & Batty, M. (2022). Airbnb and its potential impact on the London housing market. Urban Studies, 59(1), 197-221 . i • $1111111n R: A►. IIIIII!1a1�r► . 111�r..111N111t"i`° . .. • ;; I II 0 • THE HAwAII U H E RO HOUSING FACTBOOK THE ECONOMIC RESEARCH ORGANIZATION AT THE UNIVERSITY OF HAWAII JUNE 28, 2023 l 1, `a. r. ``yam\\� 1 . *. /r*4\ +� �4 : l klf 4 tr 1 r , V.,,.., , 1441 (1 00/ t Sttilio, .0 , \N tit) s* 40/ \ � UHERO REPORT i U H E RO THE ECONOMIC RESEARCH ORGANIZATION AT THE UNIVERSITY OF HAWAII The Hawai`i Housing Factbook ©2023 University of Hawaii Economic Research Organization. All rights reserved. Funded by the Coronavirus State Fiscal Recovery Fund:Data Infrastructure and Analysis for Health and Housing Program and Policy Design- Response to Systemic Economic and Health Challenges Exacerbated by COVID-19(State of Hawai`i award number 41895) Justin Tyndall Assistant Professor Daniela Bond-Smith Data Scientist and Research Economist • Rachel Inafuku Research Economist Victoria Rhinebolt Graphic Design and Layout 2424 MAILE WAY, ROOM 540 • HONOLULU, HAWAII 96822 (808) 956-7605 • UHERO@HAWAII.EDU UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 110 TABLE OF CONTENTS Introduction 1 The High Cost of Housing 1 Building New Housing Supply 9 The Demand For Housing 11 Data Book Data Dictionary 15 State 19 Counties 20 Zip Codes 24 UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 1 INTRODUCTION Residents of Hawaii face the highest housing costs in the nation.High housing costs lower the standard of living for residents and hinder the State's ability to attract workers.Some households are forced to live in crowded conditions,some leave the state to find housing elsewhere,and some are forced to survive without housing at all.To inform discussions on the way forward for housing in Hawaii,UHERO is releasing the first edition of an annual report on the state of housing. To understand the housing market,UHERO has worked with local and national data providers to compile a database of housing indicators that capture the current state of the housing market.Tracking changes in housing costs,production, demand,and local demographics can help us understand evolving conditions.While other UHERO studies will take deeper dives into specific housing issues,this report aims to make our data resources widely available,provide an overview of current conditions,and highlight ongoing research.The report will share data at the state,county,and zip code levels. Zip code level data has been largely unavailable until now and can improve our understanding of local markets.The pages that follow provide detailed data for the state,counties,and 63 zip codes across the state.We find housing characteristics, production,and affordability vary widely across Hawaii's neighborhoods.By providing housing data points in a unified reference book,UHERO hopes to reduce the barriers to accessing timely and important housing data. Later this year,UHERO will be launching an online data portal dedicated to housing.The portal provides additional data and allows the public to explore and download the data for themselves. Addressing the housing crisis,and measuring progress,should be based on clear and accurate measurement of our challenges.By sharing data through this report we hope to contribute to a more informed housing debate. THE HIGH COST OF HOUSING Hawai'i leads the nation in housing costs Hawaii is the most expensive state in the nation for housing.Median housing costs are 2.7 times the national level. Over the past year,the median price of a single-family home sold in Hawaii was$852,000 and the median condo price was$600,000.1 The last 30 years have brought incredible growth in local housing prices.Median single-family home and condominium prices have more than tripled since the mid-90s. Median Sales Price of Housing in Hawai'i 800 60o UHERO AM a> 11 400 a 200 2 0 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos COVID Emergency Declared The median price of single-family homes and condos have risen dramatically over the past three decades. 1 For statistics on housing transactions we rely on data from Black Knight Inc.,a national provider of housing market data.We use a full database of all deed transfers within the state,including new homes and resales,to calculate market statistics. UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 2 Median Home Value Across States Hawaii California Massachusetts Washington Colorado Oregon New Jersey New York Utah Maryland Nevada Virginia Rhode Island New Hampshire Connecticut Alaska Delaware Idaho Arizona Montana Minnesota Florida Vermont Wyoming Illinois Maine North Dakota Georgia Texas Wisconsin North Carolina Pennsylvania Tennessee South Dakota New Mexico South Carolina Nebraska Louisiana Michigan Missouri Kansas Iowa Ohio Indiana Alabama Kentucky Oklahoma MEW Arkansas UHERO, H° Mississippi West Virginia -� 0 200 400 600 Median Price ($1,000) Source:2021 American Community Survey 5-year estimates. Data includes all owner-occupied housing units,including those in both single-family and multifamily buildings. A significant amount of price appreciation in the housing market has occurred during the pandemic era Over the pandemic,with mortgage interest rates falling below 3%and households in need of more space,home prices soared.Before the pandemic,the median single-family home price in the state was$650,000.Between 2019 and 2022, prices rose by 35%,before leveling off in 2023.Median condo prices saw a 30%pandemic increase,jumping from$453,000 in 2019 to$587,000 in 2022,and have since risen further to$600,000.Mortgage interest rates rose sharply in 2022,and have remained near 7%.While high mortgage rates have dampened demand and reduced transaction activity,median prices have not fallen significantly. UHERO.HAWAII.EDU G 20231.1 E g'p UHERO REPORT 3 Home prices vary widely across the state Hawaii County is an outlier in terms of home prices.Median single-family home prices on Maui and Honolulu have hovered near the$1 million mark for the past year.Prices on Kauai are comparable,with a median price near$900,000. Contrastingly,the median single-family home in Hawaii County sells for$400,000.Median condominium prices in Hawaii. County($550,000)actually exceed that of single-family homes.High condo prices indicate a lack of multifamily housing supply and an aging stock of single-family homes.At the zip code level,the differences are even more substantial.The pages of this report provide median prices across 63 zip codes in the state.The North Shore of O`ahu,as well as some neighborhoods on Kauai rank among the most expensive areas.Kilauea(zip code:96754)on Kauai had the highest median sales price over the past year,at$2.3 million,though only 16 properties transacted during that time.Contrastingly,the cheapest zip codes are all located in Hawaii County,where two zip codes have median sales prices under$300,000. Single-family Home Sales Median Single-family Home Over Past 12 Months Prices by Zip Code Median Sales Price Hawai'i Honolulu State $851,500 Honolulu County $1,055,000 Maui County $1,000,000 Kauai County $892,500111V11111111144 + --;•447 Okti*V#Wr:,- .7).:4-;;;'31: 11141%k: li*40,110 Top Priced Zip Codes Kilauea(96754), Kaua'i $2,282,250 Anahola(96703), Kaua'i $2,150,000 Kaua'i Maui La'ie(96762), Honolulu $1,890,000 Bottom Priced Zip Codes Mountain View(96771), $307,501 kyolv,.. Hawaii =. Discovery Harbour $282,500 , - (96772),Hawaii '4'" rr Hawaiian Beaches(96778), $230,000 Hawaii Median Price in Millions Data covers all transactions from June 2022-May 2023. ❑ No Data 0.5 1.0 1.5 2.0 The combination of high housing prices and high interest rates has drastically reduced housing affordability The surge in mortgage interest rates over the past year has radically decreased housing affordability for buyers. The share of local households who can afford the median priced home has fallen dramatically.In the below figures,we consider a mortgage to be"affordable"if no more than 30%of the household's income is devoted to mortgage payments on a standard 30-year mortgage.In 2012,households needed to earn 120%of the state's median income to afford the mortgage on the median priced single-family home.In 2022,home buyers needed to earn nearly 180%of the state's median income(or$150,000 per year)to afford the median home.While condo prices are lower,affordability has also decreased with condo buyers now needing to earn$100,000,or 120%of Hawai'i.'s median income,to afford the median condo.The collapse in affordability of homeownership has been driven by the rise in interest rates over the past year.Even before the spike in rates,housing was unaffordable compared to most US markets. UHERO.HAWAII.EDU ©2023 U gl L RO UHERO REPORT 4 Fewer than one-third of households in Hawai'i can afford the typical local home A household earning the state median income can no longer afford the state's median priced condominium,let alone a single-family home.High prices and high mortgage interest rates mean that homeownership has become out of reach for a larger share of residents.Over the past two years,the share of households in the state who can afford mortgage payments on the median single-family home has fallen from 44%to 30%,meaning fewer than one in three households can afford the typical single-family home. Fewer than half of households are in a position to afford the median condominium. Share of State Median Income Required to Afford the Median State Home 180°b 13 1so UHERO .3 cr 140% E Housing Type 0 Median Single-family Home — 120% Median Condominium tO a, Median Rental 2 100% t`0 80°0 60% 2012 2014 2016 2018 2020 2022 A local household currently needs to earn 180%of the state median income to afford the median single-family home,so that no more than 30%of their income goes to mortgage payments. Percentage of Local Households who Can Afford the Median Priced Home 100°0 80°0 0 a) a 60 Housing Type 2 Median Single-family Home a, Median Condominium 40°0 — Median Rental a, a) 0 20°°0 UHERO 0°e 2012 2014 2016 2018 2020 2022 Only 33%of local households can afford a mortgage on the median priced single-family home. ©2023 UHERO.HAWAII.EDU UHERO UHERO REPORT 5 Median Household's Share of Income Devoted to Rent or Mortgage Payments Hawai'i Honolulu Art Kaua'i Maui itt,1416 wow Share of Income(%) 0 No Data 20 25 30 35 A single-family home bought in 2000 is now priced nearly four times higher Unlike median home prices,the UHERO Repeat Sales Index(as described on the following page)accounts for home quality by looking at price changes of the same property over time.Single-family home prices have increased 260%since 2000.The UHERO Repeat Sales Index,which controls for the changing characteristics of the housing stock,shows that a single-family home sold today is 370%more expensive than it would have been in 2000. Some areas in the state have seen home values increase to 2.5 times their 2000 value,while homes in other areas are selling for 8 times their 2000 value The UHERO Repeat Sales Index reported in the following data pages considers both single-family homes and condominiums.Among all homes,Honolulu County has seen the lowest home price growth since 2000,with prices up by 277%.Hawai`i County experienced 318%growth,Maui County experienced 339%growth,and Kauai County experienced 384%growth.Looking at the repeat sales index by zip code,the state's lowest appreciating areas are concentrated in urban Honolulu.Downtown Honolulu/Pauoa(96813),Ala Moana/Ward(96814),and McCully/Mo`ili`ili(96826)have seen the least growth in home values with properties selling from 2.5 to 2.9 times their 2000 level.These neighborhoods have a significant share of condominiums and have also experienced significant growth in new home construction.On the other hand,home appreciation in Hawaiian Acres(96760)on Big Island is ranked top in the state with home values appreciating nearly 800%.Homes in Hawaiian Paradise Park(96749)and Hanapepe(96716)have also appreciated dramatically,selling for more than seven times their 2000 values. G2023 UHERO.HAWAII.EDU UHERO UHERO REPORT 6 The UHERO Repeat Sales Index The median sales price of a single-family home in Hawai'i has increased by 260%since 2000.The median sales price is easy to calculate and is the standard metric used to monitor home price fluctuations. However,there are many ways that the median sales price can give a misleading view of how home prices are changing. UHERO has created a new metric to measure home price fluctuations,the UHERO Repeat Sales Index,which provides an alternative method to track home price changes over time. A benefit of reporting the median sales price is that it is relatively easy to understand. If we sorted all home sales from the cheapest to the most expensive,the home in the middle of that list would represent the median sales price. If this median price increases from one year to the next,this provides some indication that the cost of a typical home is rising. However,what happens if the types of homes sold one year are different from those that sold the next year?For example,what would happen if the price of every home stayed the same, but relatively more luxury homes transacted in a given year?This would push up the median sales price for that year,even though the cost of any given home didn't change.As the quality of our housing stock changes over time,and as particular segments of the market heat up or cool,the median sales price will fluctuate. To correct for the changing quality of housing over time,economists have proposed using a repeat sales index. The use of a repeat sales index for housing was popularized by economists Karl Case, Robert Shiller,and Allan Weiss,who developed a methodology and began reporting an index in 1991.The basic concept is to only look at homes that have sold multiple times within the data,and track how individual homes appreciate over time. Using a statistical process,the price changes are averaged and smoothed across time.The result is an index that can be interpreted as the change in the price of the typical home over time,holding constant any changes in the types of homes that sell from one year to the next. When thinking about home prices,people are mainly concerned with how much more it costs to purchase the same type of home over time, rather than how much it costs to purchase the median home,when the quality of the median home might be changing.Therefore,the Repeat Sales Index is often more relevant to conversations around the evolving cost of housing. The figure below compares the change in Hawai'i's median sales price for single-family homes to the change in the UHERO Repeat Sales Index. Both measures are indexed to the year 2000,so the values can be interpreted as changes from that baseline.The indexed median sales price shows a single-family home is currently 3.6 times as expensive as in 2000.The Repeat Sales Index shows prices are 4.7 times as expensive. Looking at the median sales price understates price appreciation since 2000 by 40%relative to the Repeat Sales Index.The difference between the two measures is due to the failure of the median sales price to account for the changing quality of housing. In other words,the median home that was sold in 2000 was of higher quality than the median home sold today.Quality can mean many things in this context. For example, homes that changed hands in 2000 may have been newer,on larger lots, had more floor area,or were located more centrally than homes that sold more recently. To illustrate why these two metrics give us different results,we can consider the subset of single-family homes that were actually sold in 2000 and then resold in 2022.We identified 39 single-family homes in the state that meet these criteria.One of these homes could be purchased in 2000 for an average of$334,000. In 2022,the average price had increased by 340%to$1,465,000.A young person wanting to buy the exact home their parents bought 22 years ago will need to pay 4.4 times as much. Furthermore,the home they buy is now 22 UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 7 Two Ways to Measure Changes in Single-family Home Prices 500 O 450 O 400 p 350 O 300 to 250 to 7,1 200 x -0 150 UHEROHou n 100 1995 2000 2005 2010 2015 2020 -...,UHERO Repeat Sales Index —Median Sales Price (indexed) Since 2000,the median sales price of a single-family home in Hawaii has increased by 270%,while the Repeat Sales Index has increased by 366%Yo. years older and therefore likely in poorer repair.Considering this type of scenario demonstrates why the 260% increase in median home price can actually understate the severity of the housing crisis as experienced by Hawai'i residents. One factor driving the wedge between the median home price and the Repeat Sales Index is the aging of Hawai'i's housing stock. In 2011,the median-aged home in Hawai'i was built in 1978. By 2021,the median home was built in 1980.The slow pace of housing production in Hawai'i means we are transacting nearly the same set of single-family homes that we were transacting 10 years ago,and these homes are gradually decaying in quality. According to national data from the American Community Survey over the past 10 years, no state in the US has a housing stock that is aging more quickly than Hawai'i.Among transacted homes,the median home sold today is 33 years old,whereas 10 years ago the median home was only 24 years old. Although homes can be renovated and updated over time,homes typically decline in quality as they age.As Hawai'i's housing stock ages,we might expect falling home prices. However,the rapidly rising median sales price demonstrates that buyers in Hawai'i are paying more even though the purchased homes are older. While potentially more reflective of how people experience changing home prices, Repeat Sales Indices also have shortcomings. In particular,the index will ignore homes that sell only once,which is particularly relevant for recently constructed housing. Repeat Sales Indices will be particularly sensitive to homes that transact a lot, and homes that resell frequently might not be representative of the overall market. Nevertheless,a Repeat Sales Index provides a new data point to help understand housing costs. Monitoring changes in the index can help gauge progress in reigning in housing costs. UHERO.HAWAII.EDU 02023 UHERO UHERO REPORT 8 Rents continue to rise While less volatile than home prices,the median rent in the state has grown steadily.Official American Community Survey data from 2021 estimates the median monthly rent in the state to be$1,755,the highest of any state in the nation. To provide more recent information on rent trends,UHERO collects rental listings data from Craigslist.Rather than capturing the median rent across all renters,Craigslist data provides information on the current going rate for a new rental.The median rental property on Craigslist is currently listed at just over$2,000.Maui has the highest-priced listings, with a median listed apartment renting for$2,500. Like home prices,there is significant variation in rent prices throughout the state.According to 2021 American Community Survey data,only five zip codes have median rent below$1,000.Four of them are in Hawai`i County and the other is on Molokai(96748).Rent is highest in Hawai`i Kai(96825)and Kailua(96734)where median rent exceeds$3,000. Median Rent Across the State 3000 a2000 - � " - 4E. cc 1000 0 UHERO 2011 2013 2015 2017 2019 2021 2023 — Median Rent - - Median Craigslist Asking Rent The most recent US Census Bureau data shows median rent in the State to be$1,755.The median rent among current rental postings on Craigslist is$2,000. Affordability in the rental market has remained relatively stable over the past decade The ability of local households to afford a rental unit has not changed dramatically over the past decade.Rents have increased,but incomes have as well.The median rental unit is unaffordable to 40%of households,meaning more than 30%of their income would go to rent.Hawai`i has consistently suffered from poor rental affordability compared to other states.Nationally,the median rental unit is unaffordable to 33%of households. Hawai'i has the fourth-highest homelessness rate in the nation In 2022,Hawaii had the fourth-highest share of residents experiencing homelessness.Nationwide,for every 10,000 residents,about 18 were experiencing homelessness.In Hawai`i,the rate is 41,more than twice the national rate.According to the best available data,the number of residents experiencing homelessness has been relatively stable in Hawai`i for the past 15 years. While the events that cause an individual to experience homelessness are varied,there is a strong statistical relationship between home prices and homelessness.The average homelessness rate among the 10 most expensive states is 27 per 10,000,while in the 10 cheapest states,the average rate is 8 per 10,000.Notably,the state with the lowest rate of homelessness in the country is Mississippi.Mississippi is the poorest state in terms of household income but also has the second lowest home prices.Across states,each 10%increase in home prices correlates with a 10%increase in the rate of homelessness. UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 9 Homelessness Rate vs Median Home Value by State • • 40 HI � c • Q ! :: o • • E •• •• • • 'MS UHERO 41111 0 200 300 400 500 600 700 Median Home Value ($1,000) There is a significant positive correlation between home prices and the rate of homelessness across states.Source:HUD Point-in-Time Counts,2022. BUILDING NEW HOUSING SUPPLY Hawai'i's total housing supply has not grown significantly The state of Hawaii currently has about 557,000 housing units,with O`ahu accounting for 66%of the state's housing stock.Over the past five years,the state increased its housing stock by 27,000 units.The vast majority of these new units were located in Honolulu County,which saw an increase of over 24,000 units.Hawaii County also saw a positive net increase in its housing stock,adding just under 3,000 units in the past five years.Interestingly,Maui County and Kauai County reported a very small net housing loss over the past five years,according to the US Census Bureau.This implies that new home construction on these islands has been extremely limited,causing the total housing stock to essentially remain constant.Because average household size is shrinking,the modest rise in state housing supply has resulted in a declining state population. Over the past five years, Hawai'i has permitted nearly 12,000 single-family homes In the last five years,there have been nearly 12,000 permits issued for single-family homes in the state.Hawaii County saw the largest share,permitting 4,700 units while Honolulu permitted 4,000.Single-family home permits over the past five years were more limited in Maui County and Kauai at 2,100 and 900 permits respectively.'Ewa Gentry(96706)alone accounted for 9%of the state's single-family home permits over the past five years.A significant portion of single-family permits were also issued to areas on the east side of Hawaii County.Hilo(96720),Hawaiian Beaches(96778),and Hawaiian Paradise Park(96749)were issued 770,730,and 720 permits respectively,together making up about 19%of all single-family permits issued throughout the state. In the last five years, Hawai'i has issued 400 multifamily development permits which were concentrated on the west side of O'ahu Hawaii has permitted 411 multifamily projects over the past five years.The Honolulu County zip codes of'Ewa Gentry (96706)and Makakilo(96707),together made up 30%of state-wide multifamily permits,though many of these were for relatively small projects.While the number of new multifamily buildings permitted in central Honolulu zip codes is relatively low,these projects include very large towers which contributed significantly to new housing units. G 2023 UHERO.HAWAII.EDU U H E RO UHERO REPORT 10 Hawai'i has the most restrictive land use regulations in the nation Hawaii is among the most regulated states for new housing production.Regulatory barriers put a supply constraint on the state's housing stock and contribute to the low supply of new housing.The Wharton Residential Land Use Regulatory Index(Wharton Index)uses survey data to quantify the barriers to producing new housing.UHERO completed a survey and report to measure how Hawaii compares to other jurisdictions.The report showed that Hawaii has the most restrictive housing regulations in the nation.Long permit delays,limits on land use,legislative and judicial hurdles,and affordable housing requirements all constrain new construction making it more difficult for new housing to be supplied.In the pages that follow we provide median permit processing times for the state,counties,and zip codes.The calculations are based on all housing permits included in county databases that were provided to UHERO. Wharton Residential Land Use Regulatory Index Hawaii New Jersey Maryland Rhode Island California Nevada Utah Florida ■ Oregon Mississippi Montana Massachusetts Arizona Delaware Washington Idaho South Carolina Pennsylvania Colorado MIN New Mexico ■ New York ■ Wisconsin Indiana Connecticut Tennessee 1 North Carolina 1 Texas ■ Minnesota 1111 Virginia INN Vermont Illinois New Hampshire AIN West Virginia Louisiana Wyoming 1111. Kansas NEM Oklahoma Ohio Nebraska Michigan Maine Georgia Missouri Kentucky South Dakota North Dakota Arkansas Iowa U H E RO in Alabama Alaska -1.0 -0.5 0.0 0.5 1.0 1.5 Wharton Index The figure shows the Wharton Index of each state,calculated by taking the average of all reporting jurisdictions within that state.A positive index number indicates building restrictions are more onerous than average. UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 11 Across the state, only 7.5%of residentially zoned land allows the construction of multifamily housing The state currently has less than 4%of total land zoned to allow housing of any kind.Of that residential land,only 7.5%allows multifamily housing,meaning only 0.3%of the state's land is zoned for multifamily development.Multifamily housing is only allowed in a few central areas,as shown in the maps below.O`ahu has the highest share of residential land that allows multifamily construction at 20%.Maui County also has a relatively high share at 18%.On the other islands, multifamily housing zones are much more limited.Just 9%and 2%of Kauai and Hawaii county's residential land is zoned for multifamily construction respectively. Expanding the supply of housing will require the production of new multifamily housing stock.Limiting multifamily housing to an extremely small share of the state's land puts a cap on the amount of housing that can be created.Because multifamily-zoned land is made scarce,the price of the land is bid up,increasing the costs of development. Areas in the State Zoned for Housing Hawai'i Honolulu Kaua'i Maui ngle-family only ■ Multifamily allowed THE DEMAND FOR HOUSING Mortgage Interest rates have surged dramatically Interest rates surged from a historical low of 2.6%in December 2020 to a peak of 7%in October 2022 and have since fallen only marginally.Current rates are similar to levels we were seeing before the Great Recession in 2008 and are still roughly 3 percentage points lower than in the early 90s.Although rates are not high compared to previous decades, inflation-adjusted home prices are at a historical high.High-interest rates paired with high home prices have pushed many local buyers out of the market. UHERO.HAWAII.EDU G 2023 UHERO O UHERO REPORT 12 US Mortgage Interest Rate cc N 8 C d � F cff O 2 d co 1990 2000 2010 2020 The mortgage interest rate sits just below 7%. Out-of-state buyers make up a large share of home sales in Hawaii accounting for over half of condominium sales on the Neighbor Islands Across all home sales in the state over the past year,23%of single-family homes and 29%of condominiums were sold to a buyer who listed an out-of-state address.Out-of-state buyers are particularly active in the condominium market and on the Neighbor Islands.For single-family homes on O`ahu,only 12%of sales are to out-of-state buyers.Contrastingly, out-of-state buyers account for roughly half of condominium sales in Maui and Hawaii counties,and 66%of condominium sales on Kauai.During the pandemic,sales to international buyers plunged,but sales to mainland buyers increased. The impact of out-of-state purchases on the housing market largely depends on how the property is used after the purchase.The buyer might be an incoming resident,they may rent the unit to a local household,or they may choose to leave the property vacant(or for occasional use)as a way to store capital and potentially benefit from future increases in housing prices.Out-of-state capital investment in housing can be vital to producing new projects.If the end result is that the property is occupied by a local household,then out-of-state investment can help in meeting housing demand. Contrastingly,land or housing that is purchased by an out-of-state investor and left vacant puts upward pressure on housing prices without providing new housing,hurting local affordability.Policies that penalize leaving a property vacant are currently being considered and could limit the negative effects of out-of-state investment on local affordability. Hawai'i has the lowest property taxes in the nation Property taxes are an important consideration when investing in real estate.Hawai`i's combination of low property taxes and high income taxes means the state is an attractive place to own a home but a relatively unattractive place to earn income.Low property taxes put upward pressure on home prices.Depending on the county and circumstances, homes that are not a person's primary residence typically face higher property tax rates.Effective property tax rates for the median home in each state are calculated in a national survey and are shown in the figure below.Property tax rates in Hawaii are a fraction of other states,and 30%below the second-lowest state(Alabama). The Short Term Rental(STR)market makes up a significant portion of Hawai'i's total housing stock The introduction of homesharing platforms such as Airbnb and VRBO has enabled the rise in the STR market. Currently,5.5%or 30,000 of Hawai`i's 557,000 total housing units operate as STRs.Within the state,there are stark differences by county.The STR market in Honolulu County and Hawaii County make up 2%and 8%of the total housing stock respectively.Kauai and Maui Counties'STR market represents roughly 15%of the total housing supply.Relative 02023 UHERO.HAWAII.EDU UHERO P O UHERO REPORT 13 to other cities across the US,Hawai`i's counties have a large share of STRs.Cities like Las Vegas and Los Angeles where tourism is also a considerable driver of the economy have much smaller STR shares at 3%and 1%respectively.A more detailed discussion of the STR market was provided in a recent UHERO blog.Using economic studies of other markets,we estimated that the presence of STRs in Honolulu raises housing costs by roughly 5%. Effective Property Tax Rate by State New Jersey Illinois New Hampshire Connecticut Vermont Wisconsin Texas Nebraska New York Rhode Island Pennsylvania Iowa Ohio Michigan Kansas Maine South Dakota Massachusetts Alaska Minnesota Maryland Washington North Dakota Oregon Missouri Georgia Oklahoma Florida Kentucky Indiana North Carolina Montana Virginia Mississippi New Mexico California Tennessee Idaho Arizona Utah Arkansas Wyoming Nevada West Virginia South Carolina Delaware Louisiana Colorado U H E RO' 1,�u:if 5 Alabama Hawaii 0.0 0.5 1.0 1.5 2.0 2.5 Effective Property Tax Rate Data provided by the Lincoln Institute's State-by-State Property Tax at a Glance database. Effective property tax rates are based on 2021 data and apply to the median home. UHERO.HAWAII.EDU ©2023 LJ H E RO UHERO REPORT 14 STRs are heavily concentrated in a few neighborhoods, but still extend to all areas of the state A large share of STRs are in tourism-dense resort areas.In Princeville(96722),Lahaina(96761),and the Waikiki/ Kapahulu area(96815),STRs account for 71%,40%,and 22%of the total housing supply in their zip codes respectively. Although STRs are restricted or illegal in most residential areas,just 21 of the 63 zip codes recorded in this report have an STR share under 1%of housing stock.Some predominantly residential areas have significant STR shares.STRs make up 17%and 9%of housing units in Kailua-Kona(96740)and Kapa'a(96746)respectively. STR Listings as a Percentage of Housing Stock Kauai County Maui County Hawaii County State of Hawaii Honolulu County Los Angeles Seattle San Francisco New York City 11. Las Vegas ® UHEROl Chicago 0% 5% 10% 15% ■ Airbnb Listings ® Non-Airbnb STR Listings(approximated) Airbnb listing data is provided by Inside Airbnb.Non-Airbnb STR listings are approximated according to the methodology outlined in the UHERO blog:Short-term Vacation Rentals and Housing Costs in Hawaii. UHERO.HAWAII.EDU ©2023 UHERO UHERO REPORT 15 DATA DICTIONARY A note on"zip code"geographies:This report provides data at the zip code level. However,the zip code boundaries are defined using current Zip Code Tabulation Areas(ZCTAs),which are defined by the US Census Bureau.The boundaries of ZCTAs approximate areas with the same zip code,where zip codes are defined by the US Postal Service. In some cases, the boundaries between ZCTAs and zip codes may differ.The map icon in the top left of each page represents the ZCTA boundaries.All data conforms to ZCTA boundaries,except for Craigslist rental estimates which are classified based on the zip code address of the property. A note on missing data and sample size:Some zip codes are small, meaning some of the data points are unavailable or based on a small number of observations.This reference book does not include every zip code.Some very small zip codes are omitted entirely.Generally,we choose to report data when it is available. For zip codes with small populations or a small number of housing transactions,the data points will be more volatile and may be driven by outliers.When insufficient data is available for a single data point,we represent that data point with a"-"symbol. A note on rankings:County and zip code pages include rankings for each data point(eg 1/63).A rank of one indicates the highest value. For counties,the ranking is among the four counties included. For zip codes,the ranking is among all other zip codes for which data is available. Variable Name Source Date of Data Collection Description Demographics Population American Community 2017-2021 Total residential population. Survey Median household income American Community 2017-2021 Median household income before Survey taxes. College education rate American Community 2017-2021 Share of residents over the age of 25 Survey with a college degree. Unemployment rate American Community 2017-2021 Share of residents who are in the Survey workforce but are not employed. Racial shares American Community 2017-2021 Racial shares of the local residential Survey population. Under 18 population share American Community 2017-2021 Share of population under the age Survey of 18. Over 65 population share American Community 2017-2021 Share of local population over the Survey age of 65. Zoning "Residential"zoning includes single- family,multifamily, mixed-use,and mixed agricultural/residential land Residential land(acres) County Zoning Maps 2023 where the zoning restricts individual plots to below three acres. Publicly available digital zoning maps are used. County Zoning Maps; Total residential population is Residents per acre of 2023; divided by total residential land residential land American Community 2017-2021 area,where residential land is Survey described above. UHERO.HAWAII.EDU U 2023 ^E RO UHERO REPORT 16 Variable Name Source Date of Data Collection Description Share of residential land Residential land is described above. zoned multifamily County Zoning Maps 2023 Publicly available digital zoning maps are used. Rental Market Renter share S rye can Community 2017-2021 home Share of households that rent their Y Median rent American Community 2017-2021 Median contract rent paid by Survey renters,excludes utilities. Median price among rental housing Median asking rent advertisements on Craigslist. Craigslist.com 2023 Typically,advertised rents will (Craigslist) exceed median rents in markets where rents are rising. Median rent paid as share American Community The median household in terms of of income Survey 2017-2021 gross rent payments divided by their household income. Rent burdened(>30%of American Community Share of renter households who pay income) Survey 2017-2021 more than 30%of income towards rent. Severely rent burdened American Community Share of renter households who pay 2017-2021 more than 50%of income towards (>50%of income) Survey rent. Property Market American Community Share of households that own the Owner-occupier share Survey 2017-2021 home they live in(including through a mortgage). Median priced single-family home across all recorded single-family Median single-family price Black Knight home transactions.We omit June 2022- May 2023 Transaction Records transactions under$50,000 as they are unlikely to be true,arms-length, transactions. Median priced condominium Black Knight across all recorded condominium Median condominium price Transaction Records June 2022-May 2023 transactions.We omit transactions under$50,000 as they are unlikely to be true,arms-length,transactions. An index calculated by UHERO to represent home price growth since 2000.The index takes a value of 100 in the year 2000.A one point Black Knight increaser in the index represents UHERO Repeat Sales Index Transaction Records 1994-2023 a 1%increase in price from 2000 levels.The calculation includes both single-family homes and condominiums.A description of the index is provided in the text of this report. UHERO.HAWAII.EDU 02023 UHERO UHERO REPORT 17 Variable Name Source Date of Data Collection Description Owner costs include mortgage Median monthly owner American Community 2017 2021 payments,property taxes, home- costs Survey owner insurance payments,utility bills,and HOA fees where applicable. The monthly owner costs of each Median owner costs as American Community 2017 2021 owner-occupied household is share of income Survey divided by their household income and the median is calculated. The total number of single-family Single-family home Black Knight homes transacted in the past year. transactions in past year Transaction Records June 2022-May 2023 We omit transactions under$50,000 as they are unlikely to be true,arms- length,transactions. The total number of condominiums transacted in the past year.The count includes townhomes, Condominium transactions Black Knight duplexes,or units in any building in past year Transaction Records June 2022 May 2023 with more than one unit.We omit transactions under$50,000 as they are unlikely to be true,arms-length, transactions. The share of transactions over the Out of state buyer share Black Knight June 2022 May 2023 past year where the buyer listed an Transaction Records out-of-state home address on the deed transfer documents. Housing Stock Number of housing units American Community 2017 2021 Total housing units(occupied or Survey unoccupied). Number of years between 2023 Median age of housing American Community and the year the median unit was units(years) Survey 2017-2021 constructed.Construction dates do not account for renovations or additions. The difference between total Net housing units added American Community housing units recorded in the 2021 over past five years Survey 2017-2021;2012-2016 5-year American Community Survey and the 2016 5-year American Community Survey. Total number of residential housing permits issued over the past 5-years. Data collection differs New projects permitted by county,and estimates were over past five years Country Permit Records mid 2018-mid 2023 prepared by UHERO.The figures are estimates,and may be affected by discrepancies in record keeping, or assumptions made in the classification of permits. UHERO.HAWAII.EDU 02023 UHERO UHERO REPORT 18 Variable Name Source Date of Data Collection Description The median number of days elapsed between the initial filing date of the permit application and the issue Median permit processing date of the permit's final approval time Country Permit Records mid 2018-mid 2023 by the county. Estimates across counties may not be precisely comparable due to differences in data keeping. The number of active short-term vacation rentals as of February 2023.The total includes listings on all major STR platforms, including Airbnb.The total does Active short-term vacation not include hotel rooms,but does rentals(STRs) DBEDT STR Records 2023 include units that may be part of a resort community or time-share development if they are advertised on STR platforms.The total only includes"whole-home"rentals, excluding listings that include single rooms within a housing unit. STRs as percentage of American Community The number of active short-term housing Survey; DBEDT STR 2017-2021;2023 vacation rentals divided the number Records of housing units. Job Access Using the population weighted center of a ZCTA,UHERO calculated the distance reachable by car or transit within 30 minutes in 2022. TravelTime,LEHD Calculations account for average Jobs within 30 minutes by... LODES 2022,2019 traffic conditions and assume a 9 am,weekday arrival time.Transit may include walking.The number of jobs within the accessible area is then summed, using 2019 federal employment data. UHERO.HAWAII.EDU ©2023 UHERO 19 Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes if "` : State of Hawai`i uHER0141 Demographics Property Market Population 1,453,498 Owner-occupier share 61.0% Median household income $88,005 Median single-family price $851,500 College education rate 34.3% Median condominium price $600,000 Unemployment rate 4 9% UHERO Repeat Sales Index 399 Racial shares: Median monthly owner costs $2,587 Black 1 Asian 3 1 9%9% Median owner costs as share of income 25.8% Hawaiian or Pacific Islander 10.6% a 1500 White 23.7% Under 18 population share 21.4% Ti,000 Over 65 population share 18.5% Zoning 0 �_ 1994 1998 2002 2006 2010 2014 2018 2022 Residential land (acres) 223,776 — sing*Family Homes — Condos Residents per acre of residential land 6 5 Share of residential land zoned multifamily 7 5% Single-family home transactions in past year 6,774 Out-of-state buyer share 22.7% Condominium transactions in past year 8,543 Rental Market Out-of-state buyer share 28.6% Renter share 39.0% 15000 Median rent $1,755 Median asking rent (Craigslist) $2,023 toaoo 3000 ~ 5000 1111\11' y2000 ��-- 0 1994 1998 2002 2006 2010 2014 2018 2022 • 1000 Single Family Homes — Condos 2011 2013 2015 2017 2019 2021 2023 Housing Stock — Median Rent -- Median Craigslist Asking Rent Number of housing units 556,937 Median rent paid as share of income 32.7% Median age of housing units 44 years Rent burdened (>30% of income) 55.3% Net housing units added over past five years 26,648 Severely rent burdened (>50% of income) 28.0% New projects permitted over past five years: • tooSingle-family homes 11,729 Multi-family developments 411 • 75 Median permit processing time 161 days cc S Active short-term vacation rentals (STRs) 30,436 STRs as percentage of housing 5 5% 25 "Ix* 0 a o c 2014 2016 701k 20A 4 20000 cc — Rent Burdened — Severely Rent Burdened I— co c CD c 2g 10000 2m 0 0� 2019 2020 2021 2022 2023 State Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 20 *//ifr Hawaii County UHEROAll Demographics Property Market (rank) Population 200,468 (2/4) Owner-occupier share 69.8% (1/4) Median household income $68,399 (4/4) Median single-family price $400,000 (4/4) College education rate 30.2% (2/4) Median condominium price $550,000 (3/4) Unemployment rate 6 9% (1/4) UHERO Repeat Sales Index 418 (3/4) Racial shares: Median monthly owner costs $1,867 (4/4) Asian 22.1% (4/4) Median owner costs as share of income 24.4% (4/4) Black 0.7% (2/4) Hawaiian or Pacific Islander 12.0% (1/4) $ 1500 White 32.6% (2/4) a,000 Under 18 population share 21.5% (3/4) Over 65 population share 21.3% (1/4) c _o Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 146,763 (1/4) Residents per acre of residential land 1 4 (4/4) Single-family home transactions in past year...2,622 (2/4) Share of residential land zoned multifamily 2 3% (4/4) Out-of-state buyer share 31.7% (2/4) Condominium transactions in past year 662 (3/4) Out-of-state buyer share 52.7% (2/4) Rental Market ti 0 Renter share 30.2% (4/4) 11,000 Median rent $1,250 (4/4) c Median asking rent (Craigslist) $1,750 (4/4) ►= 2000 o 3000 = c c a o y Y000 1994 1998 2002 2006 2010 2014 2018 2022 _ !' . - Single Family Homes — Condos Q 1000 0 Housing Stock 2011 2013 2015 2017 22-19 , 2023 — Median Rent -- Median Craigslist Asking Rent Number of housing units 88,259 (2/4) Median rent paid as share of income 30.0% (3/4) Median age of housing units 36 years (4/4) eet burdenedet a % of income) 50.1%0 (3/4) Net housing units added over past five years... 2,931 (2/4) Severelyrent burdened (>50%of income) 25.7% (3/4) New projectsga permitted over past five years: ( / ) Single-family homes 4,672 (1/4) rn too Multi-family developments 5 (4/4) Median permit processing time 458 days (1/4) 75or Active short-term vacation rentals (STRs) 6,847 (3/4) c so STRs as percentage of housing 7 8% (3/4) 25 eo a`, m 6000 C o 0_ 6 2014 2016 2018 2020 Q� rn o Rent Burdened — Severely Rent Burdened F 4000 C 4 V! 0 t0 i 2000 2 03 0 0 2019 2020 2021 2„__ 2023 State Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 21 Honolulu County UHERO Ar r w'rc. Demographics Property Market (rank) Population 1,015,167 (1/4) Owner-occupier share 58.4% (4/4) Median household income $92,600 (1/4) Median single-family price $1,055,000 (1/4) College education rate 36.2% (1/4) Median condominium price $550,000 (3/4) Unemployment rate 4 4% (3/4) UHERO Repeat Sales Index 377 (4/4) Racial shares: Median monthly owner costs $2,787 (1/4) Asian 42.3% (1/4) Median owner costs as share of income 25.8% (3/4) Black 2.5% (1/4) s. Hawaiian or Pacific Islander 10.2% (3/4) $ t503 White 19.9% (4/4) l loco Under 18 population share 21.3% (4/4) Over 65 population share 17.8% (4/4) a soo ------'"'�� z Zoning 2o 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 50,572 (2/4) Residents per acre of residential land 20.1 (1/4) Single-family home transactions in past year...3,011 (1/4) Share of residential land zoned multifamily....20.0% (1/4) Out-of-state buyer share 11.5% (4/4) Condominium transactions in past year 6,087 (1/4) Out-of-state buyer share 18.9% (4/4) Rental Market fn 0 Renter share 41.6% (1/4) V, i0000 Median rent $1,870 (1/4) c Median asking rent (Craigslist) $2,023 (3/4) it s000 3000 = a N 2000 -.-- 1994 1998 2002 2006 2010 2014 2018 2022 1 Single Family Homes — Condos ir 1000 0 Housing Stock 2011 2013 2015 2017 2019 2021 2023 — Median Rent -- Median Gamma Asking Rent Number of housing units 367,126 (1/4) Median age of housing units 47 years (1/4) Median rent paid share of income 33.4% (1/4) as of income) 33.4% (1/4) Net housing units added over past five years..24,144 (1/4) Rent burdened Severelyrent burdened (>50%of income) 28.5% (2/4) New projectsga permitted over past five years: ( / ) Single-family homes 4,020 (2/4) i 100 Multi-family developments 224 (1/4) Median permit processing time 153 days (4/4) ¢ 7s Active short-term vacation rentals (STRs) 8,544 (2/4) 8 50 STRs as percentage of housing 2.3% (4/4) E i 25 10000 u o • o 2 2014 2016 2018 2020 o ---- Rent Burdened — Severely Rent Burdened E S000 N t0 o C0o 0 OF 2019 2020 2021 2022 2023 State Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 22 Kaua`i County UHERO A / c Demographics Property Market (rank) Population 73,247 (4/4) Owner-occupier share 64.0% (2/4) Median household income $86,287 (3/4) Median single-family price $892,500 (3/4) College education rate 30.1% (3/4) Median condominium price $749,000 (2/4) Unemployment rate 4 4% (3/4) UHERO Repeat Sales Index 484 (1/4) Racial shares: Median monthly owner costs $2,390 (3/4) Asian Black 30 5% (4/4)1.0% (2/4) Median owner costs as share of income 27.4% (1/4) Hawaiian or Pacific Islander 9 5% (4/4) § t500 White 31.7% (3/4) €t000 Under 18 population share 21.8% (1/4) Over 65 population share 20.3% (2/4) a 500 CD Zoning 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 17,745 (3/4) Residents per acre of residential land 4 1 (3/4) Single-family home transactions in past year 438 (4/4) Share of residential land zoned multifamily 9 0% (3/4) Out-of-state buyer share 39.0% (1/4) Condominium transactions in past year 365 (4/4) Out-of-state buyer share 65.8% (1/4) Rental Market Renter share 36.0% (3/4) 360 /" Median rent $1,525 (3/4) i:No '',..„)."\„--"--/VA Median asking rent (Craigslist) $2,227 (2/4) ,-- io 300 3000 z c c 0 y 2000 --— • "•_ 1994 1998 2002 2006 2010 2014 2018 2022 _ Single Family Homes — Condos Q 1000 0 Housing Stock 2011 2013 2015 2017 2019 2021 2023 — Median Rent -- Median Cragshst Asking Rent Number of housing units 30,147 (4/4) Median rent paid share of income 28.5% (4/4) Median age of housing units 40 years (2/4) Rent rent as of income) 28.5% (4/4) Net housing units added over past five years....-241 (4/4) Severelyrent burdened (>50%of income) 23.8% (4/4) New projects permitted over past five years: ( / ) Single-family homes 937 (4/4) `, 10o Multi-family developments 38 (3/4) c Median permit processing time 182 days (2/4) 0• 75 Active short-term vacation rentals (STRs) 4,818 (4/4) O 50 STRs as percentage of housing 16.0% (1/4) d• zs a0 i 4000 .......r 15 g 2014 2016 2018 2020 10 — Rent Burdened — Severely Rent Burdened 2000 5 50 0 0 2019 2020 2021 2022 2023 State Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 23 Maui County 11111110 UHER0 Andl,,,,,_ Demographics Property Market (rank) Population 164,568 (3/4) Owner-occupier share 63.9% (3/4) Median household income $88,249 (2/4) Median single-family price $1,000,000 (2/4) College education rate 30.0% (4/4) Median condominium price $880,000 (1/4) Unemployment rate 5 7% (2/4) UHERO Repeat Sales Index 439 (2/4) Racial shares: Median monthly owner costs $2,542 (2/4) Asian 29.3% (3/4) Median owner costs as share of income 27.2% (2/4) Black 0.7% (2/4) Q— Hawaiian or Pacific Islander 11.2% (2/4) a t500 White 32.9% (1/4) 1000 Under 18 population share 21.7% (2/4) Over 65 population share 18.6% (3/4) ci soo Zoning ° 1994 998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 8,649 (4/4) Residents per acre of residential land 19.0 (2/4) Single-family home transactions in past year 703 (3/4) Share of residential land zoned multifamily....18.3% (2/4) Out-of-state buyer share 27.2% (3/4) Condominium transactions in past year 1,429 (2/4) Out-of-state buyer share 49.3% (3/4) Rental Market a 3000 0 Renter share 36.1% (2/4) y 2000 Median rent $1,667 (2/4) Median asking rent (Craigslist) $2,500 (1/4) it woo 9 3000 z c a 0 • H 2000 --- - 1994 1998 2002 2006 2010 2014 2018 2022 ri — Single Family Homes — Condos Q 1000 0 Housing Stock 2011 2013 2015 2017 2019 2021 2023 — Median ReM -- Median Googol*Asking Rent Number of housing units 71,318 (3/4) Median age of housing units 39 years (3/4) Median rent paid s of income)hale of income 32.2% (2/4)53.7% (2/4) Net housing units added over past five years....-175 (3/4) Rent burdened as Severelyrent burdened (>50%of income) 28.6% (1/4) New projectsga permitted over past five years: ( / ) Single-family homes 2,100 (3/4) N 10o Multi-family developments 144 (2/4) Median permit processing time 174 days (3/4) 75cc Active short-term vacation rentals (STRs) 9,990 (1/4) so STRs as percentage of housing 14.0% (2/4) 25 al a1 i lam 5 a 0 2014 2016 2018 2020 � Rent Burdened — Severely Rent Burdened F m 5000 5 6 if 0 x 2019 2020 2021 2n22 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 24 Captain Cook 96704 UHERO Anal tic• Demographics Property Market (rank) Population 8,391 (37/63) Owner-occupier share 63.2% (38/63) Median household income $67,845 (51/63) Median single-family price $590,000 (51/63) College education rate 28.5% (39/63) Median condominium price $640,000 (30/57) Unemployment rate 7 2% (14/63) UHERO Repeat Sales Index 449 (27/63) Racial shares: Median monthly owner costs $2,579 (30/63) Asian 15.0% (48/63) Median owner costs as share of income 26.3% (31/63) Black 1 4% (17/63) Hawaiian or Pacific Islander 12.4% (20/63) $ 1500 White 40.2% (16/63) 1000 Under 18 population share 18.8% (45/63) Over 65 population share 22.9% (15/63) a. wo Zonin ° g 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 4,083 (13/63) Single-family home transactions in past year....85 (29/63) Residents per acre of residential Out-of-state buyer share 36.5% (14/63) land 2 1 (53/63) Condominium transactions in past year 5 (49/63) Share of residential land zoned Out-of-state buyer share 60.0% (09/63) multifamily 0 070 (42/63) y S ngle.1.mey O 200 IllBuyness co H tsp C '00 Rental Market 1- To Renter share 36.8% (26/63) & o Median rent $1,605 (33/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,500 (20/63) Single Family Homes — Condos 3000 2000 •,' Housing Stock woo ��'' Number of housing units 3,690 (36/63) Median age of housing units 40 years (36/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 85 (30/63) — Median Rent -- Median Ctepsliet Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 22.8% (60/63) Active short-term vacation rentals (STRs) 214 (21/63) Rent burdened (>30% of income) 45.7% (47/63) STRs as percentage of housing 5 8% (19/63) Severely rent burdened (>50% of income) 35.3% (11/63) M 300 7 5 0 Job Access 200 5 0 5 Cl) 3 Jobs within 30 minutes by... i too 2 s 1 Car 1,917 (56/63) Transit 0 (63/63) 1 0 0 0" 2019 2020 2021 2022 2023 25 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes / Haw' 96719 UHERO An,ikTR. Demographics Property Market (rank) Population 1,252 (63/63) Owner-occupier share 70.0% (22/63) Median household income $73,125 (46/63) Median single-family price $1,022,500 (26/63) College education rate 42.4% (11/63) Median condominium price $728,750 (22/57) Unemployment rate 14.8% (03/63) UHERO Repeat Sales Index 564 (12/63) Racial shares: Median monthly owner costs $2,720 (19/63) Asian 20.8% (38/63) Median owner costs as share of income 33.6% (02/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 9 8% (30/63) $ 15°0 White 40.6% (15/63) 7000 Under 18 population share 19.6% (41/63) Over 65 population share 29.2% (02/63) a. 500 -- } Zonin ° g 1994 1998 2002 2006 2010 2014 Zola 2022 ---. Single Family Homes — Condos Residential land (acres) 464 (50/63) Single-family home transactions in past year....10 (60/63) Residents per acre of residential Out-of-state buyer share 30.0% (18/63) 11\-\.) land 2 7 (51/63) Condominium transactions in past year 2 (51/63) N. r`f Share of residential land zopeel Out-of-state buyer share 50.0% (14/63) multifamily 0 0% (42/63) E zoo >,.Sngle tamely 0 O ■Bus+ness N ISO C 2 t00 Rental Market 50 Renter share 30.0% (42/63) a o --'�` Median rent $1,218 (52/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,799 (12/63) -- Single Family Homes — Condos 3000 ' Housing Stock V,2000 co 1000 Number of housing units 568 (63/63) Median age of housing units 42 years (29/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 18 (58/63) — Median Rent —— Median Cnagsase Asking Rome Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 29.8% (36/63) Active short-term vacation rentals (STRs) 34 (49/63) Rent burdened (>30% of income) 49.5% (36/63) STRs as percentage of housing 5 9% (18/63) Severely rent burdened (>50% of income) 23.3% (39/63) FgJob Access 4 Jobs within 30 minutes by... cv2 Car 879 (59/63) Transit 255 (40/63) a o ° 2019 2020 2021 2022 2023 26 State Counties -- Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Hilo 96720 UHEROA _J Y'l‘ Demographics Property Market (rank) Population 49,886 (12/63) Owner-occupier share 65.0% (35/63) Median household income $69,984 (50/63) Median single-family price $440,500 (55/63) College education rate 33.5% (26/63) Median condominium price $257,500 (55/57) Unemployment rate 6 7% (17/63) UHERO Repeat Sales Index 432 (33/63) Racial shares: Median monthly owner costs $1,726 (54/63) Asian 30.8% (24/63) Median owner costs as share of income 19.9% (60/63) Black 0.7% (31/63) Hawaiian or Pacific Islander 11.3% (23/63) $ t500 White 19.5% (43/63) Ettowto Under 18 population share 21.6% (32/63) Over 65 population share 20.7% (31/63) a. soo c °Zoning 1994 1999 2002 2006 2010 2014 2018 2022 -- Single Family Homes — Condos - Residential land (acres) 14,658 (04/63) Single-family home transactions in past year...358 (04/63) Residents per acre of residential Out-of-state buyer share 17.0% (40/63) land 3 4 (48/63) Condominium transactions in past year 92 (24/63) Share of residential land zonedOut-of-state buyer share 22.8% (34/63) multifamily 2 2% (32/63) u, ■Single.lamay■MumtaMiy C v600 In Business tt3 In =400 Rental Market /-- To 200 Renter share 35.0% (29/63) i o Median rent $1,136 (54/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,500 (57/63) single Family Homes — Condos 3000 2000 Housing Stock t000 _ — —— — - Number of housing units 19,397 (08/63) Median age of housing units 46 years (19/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 zo, 2023 Single-family homes 767 (02/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 4 (14/63) Median permit processing time 458 days (05/47) Median rent paid as share of income 31.4% (29/63) Active short-term vacation rentals (STRs) 329 (16/63) Rent burdened (>30% of income) 52.1% (31/63) STRs as percentage of housing 1 7% (39/63) Severely rent burdened (>50%of income) 35.1% (12/63) e 300 t6o Job Access E 200 10y 7 Jobs within 30 minutes by... ,00 o s Car 25,680 (27/63) cn Transit 132 (47/63) < 0 0 0 2019 2020 2021 2022 2023 27 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Honalo 96725 UHEROAndwtic• Demographics Property Market (rank) Population 4,054 (50/63) Owner-occupier share 60.2% (45/63) Median household income $76,450 (43/63) Median single-family price $1,200,000 (20/63) College education rate 37.6% (18/63) Median condominium price $480,000 (42/57) Unemployment rate 5 0% (31/63) UHERO Repeat Sales Index 375 (48/63) Racial shares: Median monthly owner costs $2,702 (21/63) Asian 23.9% (34/63) Median owner costs as share of income 29.1% (13/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 3 2% (59/63) § t500 White 47.0% (09/63) m 1000 Under 18 population share 20.9% (33/63) § Over 65 population share 24.8% (08/63) a c soo Zoning A 4 ° b 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 1,347 (35/63) Single-family home transactions in past year....21 (52/63) Residents per acre of residential Out-of-state buyer share 61.9% (03/63) land 3 0 (49/63) Condominium transactions in past year 16 (40/63) "�, Share of residential land zonedOut-of-state buyer share 43.8% (21/63) multifamily 0 6% (36/ ) Sagie family■MulMamdy C 200 0 ■Bosom A 1S0 cn C Rental Market Renter share 39.8% (19/63) a o Median rent $1,519 (39/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,245 (30/63) Single Family Homes — Condos 3000 Housing Stock 47 2000 __.' �� - Number of housing units 1,641 (50/63) Median age of housing units 41 years (35/63) ° New projects permitted over past five years: 2011 2013 2015 2017 2 ._z' 2023 Single-family homes 58 (38/63) — Median Rent -- Median Craigsiist Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 29.0% (42/63) Active short-term vacation rentals (STRs) 98 (30/63) Rent burdened (>30% of income) 46.7% (45/63) STRs as percentage of housing 6 0% (17/63) Severely rent burdened (>50%of income) 17.8% (52/63) i100 so Job Access Jobs within 30 minutes by... 1 2 Car 6,955 (42/63) i Transit 38 (57/63) o 0 71 2019 2023 28 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Honoka`a 96727 UHERO Anal tic• Demographics Property Market (rank) Population 4,572 (47/63) Owner-occupier share 78.8% (09/63) Median household income $61,335 (58/63) Median single-family price $563,000 (52/63) College education rate 21.0% (54/63) Median condominium price $600,500 (33/57) Unemployment rate 15.2% (02/63) UHERO Repeat Sales Index 435 (32/63) Racial shares: Median monthly owner costs $1,645 (56/63) Asian 20.9% (37/63) Median owner costs as share of income 26.8% (27/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 15.5% (14/63) $tS00 White 29.0% (30/63) ii 1000 Under 18 population share 22.0% (25/63) Over 65 population share 21.3% (25/63) Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 655 (45/63) Single-family home transactions in past year....48 (40/63) Residents per acre of residential Out-of-state buyer share 31.2% (17/63) land 7 0 (40/63) Condominium transactions in past year 2 (51/63) Share of residential land zoned Out-of-state buyer share 50.0% (14/63) multifamily 0 070 (42/63) Srgre.tamy c 200 O ■13us nesn 75 al ]50 N C 2 t 00 Rental Market73 50 --- Renter share 21.2% (55/63) a 0 — Median rent $1,125 (56/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,000 (42/63) Skt91s Family Hones — Condos 3000 Housing Stock a 2000 • woo _ .' I• Number of housing units 1,756 (49/63) Median age of housing units 59 years (02/63) 0 New projects permitted over past five years: 2011 2013 2015 2c., 2021 2023 Single-family homes 45 (44/63) — Median Rent -- Median Craigscist Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 41.6% (07/63) Active short-term vacation rentals (STRs) 48 (45/63) Rent burdened (>30% of income) 59.8% (17/63) STRs as percentage of housing 2 7% (30/63) Severely rent burdened (>50% of income) 30.7% (19/63) 3 =4° 20 Job Access S. ..1%.. i = Jobs within 30 minutes by... rn 20 1100 Car 3,442 (52/63) ' Transit 236 (41/63) o OF 2019 2020 2021 2022 2023 29 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Hawaiian Ocean View 96737 UHERO/i i r!v'lc Demographics Property Market (rank) Population 3,851 (51/63) Owner-occupier share 78.4% (10/63) Median household income $25,402 (63/63) Median single-family price $307,500 (61/63) College education rate 13.7% (62/63) Median condominium price $- (-/57) Unemployment rate 15.9% (01/63) UHERO Repeat Sales Index 430 (34/63) Racial shares: Median monthly owner costs $1,186 (63/63) Asian 4 6% (63/63) Median owner costs as share of income 17.8% (63/63) Black 5 9% (03/63) Hawaiian or Pacific Islander 17.0% (11/63) $ t500 White 35.5% (23/63) E woo Under 18 population share 22.2% (23/63) Over 65 population share 16.0% (52/63) d 500 c Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 ,.. Single Family Homes Residential land (acres) 16,282 (03/63) Single-family home transactions in past year....80 (30/63) Residents per acre of residential Out-of-state buyer share 38.8% (12/63) / ? land 0 2 (63/63) Condominium transactions in past year 0 (58/63) , .4 Share of residential land zoned Out-of-state buyer share 0.0% (56/63) multifamily 0 0% (42/63) Single taws/ c 200 O ■Bus.ness 150 to C 2 100 Rental MarketTo so Renter share 21.6% (54/63) a o Median rent $643 (63/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,300 (27/63) Single Family Homes — Condos 3000 2000 Housing Stock a .- -,' Number of housing units 2,314 (45/63) °C t000 Median age of housing units 21 years (63/63) o New projects permitted over past five years: 2011 2913 2015 2017 :c • 2023 Single-family homes 67 (36/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 51.0% (01/63) Active short-term vacation rentals (STRs) 64 (36/63) Rent burdened (>30% of income) 52.5% (30/63) STRs as percentage of housing 2 8% (29/63) Severely rent burdened (>50% of income) 52.5% (01/63) so 0 c Job Access E a 0 2 0 H to to 0 Jobs within 30 minutes by... ; ,>o "o CD Car 535 (62/63) Transit 12 (58/63) a o"' 2020 2021 2022 2023 30 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Waikoloa Village 96738 UHERO Anal tic-- Demographics Property Market (rank) Population 7,899 (38/63) Owner-occupier share 70.1% (21/63) Median household income $84,063 (31/63) Median single-family price $799,500 (45/63) College education rate 29.8% (33/63) Median condominium price $615,000 (32/57) Unemployment rate 9 3% (09/63) UHERO Repeat Sales Index 406 (42/63) Racial shares: Median monthly owner costs $2,127 (47/63) Asian 18.9% (43/63) Median owner costs as share of income 28.7% (14/63) Black 1 8% (12/63) Q Hawaiian or Pacific Islander 7 6% (43/63) z5 t500 White 42.2% (13/63) €1000 Under 18 population share 27.4% (08/63) Over 65 population share 16.2% (50/63) soo Zonis ° g 1994 1998 2002 2006 2010 2014 2018 2022 ,�► Residential land (acres) — FamlyHonks Condos J p- •5. 4,510 (11/63) Single-family home transactions in past year....90 (26/63) Residents per acre of residential Out-of-state buyer share 40.0% (09/63) land 1 8 (56/63) Condominium transactions in past year 125 (20/63) Share of residential land zoned Out-of-state buyer share 57.6% (11/63) multifamily 18.90 (13/63) srrgte family.Mulniarruni C _o 300 IIIBus�ne s U A c 200 Rental Market 100 Renter share 29.9% (43/63) a o Median rent $1,725 (27/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $3,069 (03/63) Single Family Homes — Condos 4000 000 2r �� Housing Stock a �' Number of housing units 4,739 (34/63) 2 1333 333 Median age of housing units 29 years (58/63) 0 000 New projects permitted over past five years: 2011 2013 2015 2017 zo i0 2021 2023 Single-family homes 101 (26/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 1 (20/63) Median permit processing time - days (-/47) Median rent paid as share of income 32.7% (24/63) Active short-term vacation rentals (STRs) 804 (07/63) Rent burdened (>30% of income) 61.2% (13/63) STRs as percentage of housing 17.0% (07/63) Severely rent burdened (>50%of income)...14.3% (55/63) woo zoae io 15 x Job Access Soo 10 u. Jobs within 30 minutes by... / 1 'W Car 6,010 (44/63) - 5 a Transit 414 (37/63) o o a 2019 2020 2021 2022 2023 31 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Kailua-Kona 96740 UHEROAr l'oc Demographics Property Market (rank) Population 40,931 (16/63) Owner-occupier share 66.2% (32/63) Median household income $81,689 (37/63) Median single-family price $975,000 (30/63) College education rate 33.0% (29/63) Median condominium price $550,000 (34/57) Unemployment rate 3 9% (47/63) UHERO Repeat Sales Index 365 (50/63) Racial shares: Median monthly owner costs $2,389 (39/63) Asian 19.1% (42/63) Median owner costs as share of income 27.8% (20/63) Black 0 9% (26/63) Hawaiian or Pacific Islander 11.9% (21/63) $ 1500 White 43.6% (10/63) E moo Under 18 population share 20.6% (37/63) Over 65 population share 20.9% (29/63) soo Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 f — Single Family Homes — Condos Residential land (acres) 7,745 (08/63) Single-family home transactions in past year...369 (03/63) Residents per acre of residential Out-of-state buyer share 45.5% (08/63) land 5 3 (43/63) Condominium transactions in past year 340 (06/63) Share of residential land zoned Out-of-state buyer share 54.7% (13/63) multifamily 15.5% (16/63) Smge-lamily.Miin4an ty O O ■Business ,900 ro h,, Rental Market = 300 Renter share 33.8% (32/63) a 0 Median rent $1,497 (40/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,600 (14/63) Single Family Homes — Condos 3000 • •-- Housing Stock in 2000 -- moo Number of housing units 18,897 (10/63) Median age of housing units 35 years (48/63) ° New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 329 (07/63) — Median Rent -- Median Cragsiust nslrmg Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 29.3% (39/63) Active short-term vacation rentals (STRs) ...3,162 (04/63) Rent burdened (>30% of income) 48.2% (40/63) STRs as percentage of housing 16.7% (08/63) Severely rent burdened (>50% of income)...20.1% (46/63) ,so3000 c Job Access Fc 2000 10 Pa Jobs within 30 minutes by... 2 1000 5 Car 19,433 (32/63) ft- Transit 814 (29/63) o 0 2019 2020 2021 2022 2023 32 State Counties Big; 11® Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Waimea 96743 UHERO A'!.Jlvnc Demographics Property Market (rank) Population 13,386 (33/63) Owner-occupier share 69.7% (23/63) Median household income $92,007 (18/63) Median single-family price $867,500 (42/63) College education rate 42.0% (13/63) Median condominium price $1,750,000 (02/57) Unemployment rate 6 0% (23/63) UHERO Repeat Sales Index 421 (35/63) Racial shares: Median monthly owner costs $2,272 (44/63) Asian 21.1% (36/63) Median owner costs as share of income 24.0% (51/63) Black 0.0% (55/63) Q Hawaiian or Pacific Islander 16.1% (13/63) a 2000 White 29.9% (29/63) "►1500 Under 18 population share 21.9% (26/63) Over 65 population share 21.6% (22/63)Over soo Zoning 1 0 1994 1998 2002 2006 2010 2014 2018 2022 Singes Family Homes — Condos Residential land (acres) 7,423 (09/63) Single-family home transactions in past year...135 (14/63) \k Residents per acre of residential Out-of-state buyer share 33.3% (16/63) land 1 8 (54/63) Condominium transactions in past year 62 (29/63) Share of residential la zonedOut-of-state buyer share 79.0% (04/63) multifamily 11.6 0 (21/63) Stngk+-lamdy■MWMamdy 400 Z. ■Bus.ness co 300 (n C Rental Market 100 Renter share 30.3% (41/63) & o Median rent $1,960 (17/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,600 (14/63) `--- Sin9N Famn*y Homes — Condos 3000 • —- Housing Stock w 2000 `i 10� Number of housing units 6,197 (32/63) Median age of housing units 28 years (60/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2023 Single-family homes 193 (15/63) — Median Rent —— Median Cra.gskst Ask,ng Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 23.4% (59/63) Active short-term vacation rentals (STRs) 752 (08/63) Rent burdened (>30% of income) 33.8% (60/63) STRs as percentage of housing 12.1% (09/63) Severely rent burdened (>50% of income)...10.5% (58/63) 15 lw o Job Access E soo Jobs within 30 minutes by... 1 5 Car 5,566 (45/63) W Transit 588 (33/63) o o 2019 2020 2021 2022 2023 33 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Hawaiian Paradise Park 96749 UHER04111 Demographics Property Market (rank) Population 17,738 (30/63) Owner-occupier share 75.3% (15/63) Median household income $71,667 (48/63) Median single-family price $429,500 (57/63) College education rate 20.0% (56/63) Median condominium price $775,000 (17/57) Unemployment rate 4 1% (43/63) UHERO Repeat Sales Index 732 (03/63) Racial shares: Median monthly owner costs $1,635 (57/63) Asian 27.3% (28/63) Median owner costs as share of income 24.1% (50/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 16.2% (12/63) $ f500 White 27.5% (32/63) N tt>oo Under 18 population share 20.9% (33/63) Over 65 population share 24.1% (09/63) a. Zoning ° a / 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 17,803 (02/63) Single-family home transactions in past year...304 (05/63) Residents per acre of residential Out-of-state buyer share 38.2% (13/63) land 1 0 (57/63) Condominium transactions in past year 1 (55/63) Share of residential land zonedOut-of-state buyer share 100.0% (01/63) multifamily 0 0 0 (42/63) s,Nte'army c o750 IIBus.ness 0 rn 13 Rental Market - 250 Renter share 24.7% (49/63) a 0 Median rent $923 (61/63) 1994 1998 2002 2006 2010 2014 20'8 2022 Median asking rent (Craigslist) $1,300 (60/63) Single Family Homes — Condos 3000 2000 Housing Stock low _�,_�-—— Number of housing units 7,037 (29/63) Median age of housing units 32 years (54/63) ° New projects permitted over past five years: 2011 2013 2015 c - z.:;,;. ' 2023 Single-family homes 722 (04/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 32.5% (25/63) Active short-term vacation rentals (STRs) 306 (18/63) Rent burdened (>30% of income) 53.8% (26/63) STRs as percentage of housing 4 3% (24/63) Severely rent burdened (>50%of income) 12.0% (57/63) 300 40 f ct Job Access 200 3 g C coui 2 7 Jobs within 30 minutes by... 2 too tO Car 25,076 (28/63) 'g Transit 147 (45/63) o ow 2019 2020 2021 2022 2023 34 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Kealakekua 96750 UHERO Anal ic. Demographics Property Market (rank) Population 3,719 (53/63) Owner-occupier share 62.7% (39/63) Median household income $71,667 (48/63) Median single-family price $760.000 (47/63) College education rate 28.0% (41/63) Median condominium price $- (-/57) Unemployment rate 2 8% (56/63) UHERO Repeat Sales Index 595 (08/63) Racial shares: Median monthly owner costs $2,104 (48/63) Asian 36.7% (20/63) Median owner costs as share of income 25.1% (41/63) Black 0 4% (40/63) Hawaiian or Pacific Islander 9 6% (32/63) §4500 White 25.8% (35/63) it woo Under 18 population share 22.9% (19/63) Over 65 population share 23.4% (13/63) a. soo Zonin ° g /994 1998 2002 2006 zo+o 20+4 zo+s 2022 —Oil Single Family Homes — Condos Residential land (acres) 2,077 (31/63) Single-family home transactions in past year....17 (53/63) Residents per acre of residential Out-of-state buyer share 23.5% (28/63) land 1 8 (55/63) Condominium transactions in past year 0 (58/63) Share of residential lance zoned Out-of-state buyer share 0 0% (56/63) multifamily 0 3/0 (40/63) Smgk•+an iy IIIMustamay o 200 ■Business ftf ESQ c Rental MarketTo 50 Renter share 37.3% (25/63) Median rent $971 (59/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,965 (43/63) - Single Family Homes — Condos 3000 Housing Stock v,2000 -• Q woo - - '' Number of housing units 1,397 (54/63) Median age of housing units 48 years (15/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 32 (50/63) — Median Rent -- may„Clafpaist Asking Red Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 25.9% (53/63) Active short-term vacation rentals (STRs) 49 (44/63) Rent burdened (>30% of income) 39.8% (56/63) STRs as percentage of housing 3 5% (27/63) Severely rent burdened (>50% of income) 26.8% (27/63) 60 4 0 c Job Access cc 40 3 4) 2 n' Jobs within 30 minutes by... 20 1 Co Car 18,145 (34/63) a Transit 774 (31/63) 0 0'° 2019 2020 2023 35 State Counties MIIIIIIIIIIIIIIIIIIM Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes '!t Kapa`au 96755 UHEROAnalvtic• Demographics Property Market (rank) Population 3,210 (55/63) Owner-occupier share 82.5% (05/63) Median household income $81,495 (39/63) Median single-family price $545,000 (54/63) College education rate 29.8% (33/63) Median condominium price $695,000 (25/57) Unemployment rate 6 3% (18/63) UHERO Repeat Sales Index 404 (43/63) Racial shares: Median monthly owner costs $1,857 (53/63) Asian 28.3% (27/63) Median owner costs as share of income 26.4% (30/63) Black 0 8% (29/63) Hawaiian or Pacific Islander 8 5% (38/63) 8 'S0D White 23.1% (36/63) woo Under 18 population share 17.9% (51/63) Over 65 population share 30.4% (01/63) & soo '--- o '� Zoning 1994 1999 2002 2006 2010 2014 2018 2022 — Sirgb Family Homes — Condos lilt Residential land (acres) 827 (43/63) Single-family home transactions in past year....37 (45/63) Residents per acre of residential Out-of-state buyer share 29.7% (20/63) land 3 9 (46/63) Condominium transactions in past year 1 (55/63) Share of residential 1 zo Out-of-state buyer share 100.0% (01/63) multifamily 0 6% (36/63) Sing a lamAy.Mumtam ty 200 O ■Bosknes3 R 1 c C Co too Rental MarketTs 50 Renter share 17.5% (59/63) a o — Median rent $960 (60/63) 1994 199E 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,200 (31/63) Single Family Homes — Condos 3000 ` , Housing Stock 2000 • Y# d '— Number of housing units 1,351 (56/63) °C 100° Median age of housing units 42 years (29/63) 0 New projects permitted over past five years: 2011 2013 zo1s 2017 2o19 2021 2023 Single-family homes 26 (53/63) — Median Rent -- Median Cragsltst Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 14.9% (63/63) Active short-term vacation rentals (STRs) 32 (52/63) Rent burdened (>30% of income) 20.4% (62/63) STRs as percentage of housing 2 4% (34/63) Severely rent burdened (>50%of income)....7.0% (62/63) 3 u y e S O C Job Access R, ci s Jobs within 30 minutes by... Car 748 (60/63) o Transit 83 (51/63) o x 2019 36 State Counties IIIMIIIMMIIIIIIIIIIII Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Hawaiian Acres 96760 UHERO Analytic- Demographics Property Market (rank) Population 3,788 (52/63) Owner-occupier share 88.3% (01/63) Median household income $78,750 (42/63) Median single-family price $350,000 (58/63) College education rate 29.0% (37/63) Median condominium price $- (-/57) Unemployment rate 6 2% (20/63) UHERO Repeat Sales Index 880 (01/63) Racial shares: Median monthly owner costs $1,695 (55/63) Asian 24.8% (31/63) Median owner costs as share of income 23.0% (55/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 9 2% (34/63) $1500 White 37.3% (22/63) a mooUnder 18 population share 19.4% (42/63) Over 65 population share 22.9% (15/63) a. 500 Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 + Sing*Family Homes Residential land (acres) 9,796 (07/63) Single-family home transactions in past year....49 (39/63) fr Residents per acre of residential Out-of-state buyer share 26.5% (25/63) land 0 4 (62/63) Condominium transactions in past year 0 (58/63) Share of residential land zoned Out-of-state buyer share 0.0% (56/63) multifamily 0 07o (42/63) 200 sngb•Lm'y c ■&us.neas ti al 150 N c 100 It Rental Market E so Renter share 11.7% (63/63) a o -"'------ Median rent $1,591 (34/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,100 (62/63) " Single Family Homes — Condos 3000 2000 Housing Stock woo __-_ Number of housing units 1,552 (53/63) cc Median age of housing units 33 years (50/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 77 (35/63) — Median Rent -- Median Craigsbst Mkitp Rem Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 26.4% (51/63) Active short-term vacation rentals (STRs) 17 (56/63) Rent burdened (>30% of income) 32.0% (61/63) STRs as percentage of housing 1 1% (40/63) Severely rent burdened (>50% of income) 14.1% (56/63) /n 30 2.0# 0 Job Access o 20 di. I s o Jobs within 30 minutes by... ; ,o © Car 17,553 (36/63) °s�' Transit 7 (59/63) a o 0 0 2019 2020 2021 2022 2023 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 37 Mountain View 96771 UHEROAny<?Ivrrc, Demographics Property Market (rank) Population 6,770 (42/63) Owner-occupier share 70.9% (17/63) Median household income $46,063 (61/63) Median single-family price $310,000 (60/63) College education rate 17.6% (59/63) Median condominium price $- (-/57) Unemployment rate 11.9% (05/63) UHERO Repeat Sales Index 647 (05/63) Racial shares: Median monthly owner costs $1,591 (58/63) Asian 4 8% (62/63) Median owner costs as share of income 21.3% (58/63) Black 1 0% (24/63) Hawaiian or Pacific Islander 11.6% (22/63) $t500 White 37.4% (21/63) fa t000 Under 18 population share 25.5% (11/63) Over 65 population share 14.6% (56/63) a. 500 o + Zoning 1994 1998 2002 2006 2010 2014 2018 2022 — Single Famly Homes Residential land (acres) 12,542 (05/63) Single-family home transactions in past year...115 (19/63) . , Residents per acre of residential Out-of-state buyer share 27.0% (22/63) land 0 5 (59/63) Condominium transactions in past year 0 (58/63) l' Share of residential la l zon Out-of-state buyer share 0 0% (56/63) multifamily 0 070 (42/63) s��up-tam,ly 0 200 III lilus/ness c 150 tn 2 100 Rental Market Renter share 29.1% (47/63) & o Median rent $1,128 (55/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $950 (63/63) — Single Family Homes — Condos 3000 2000 Housing Stock re'woo / Number of housing units 2,894 (40/63) Median age of housing units 30 years (57/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 168 (19/63) — Median Rent -- Median Craigslist Asking Rol Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 25.7% (56/63) Active short-term vacation rentals (STRs) 64 (36/63) Rent burdened (>30% of income) 44.9% (50/63) STRs as percentage of housing 2 2% (35/63) Severely rent burdened (>50% of income) 17.6% (53/63) H 60 2Op 'c m Job Access cr 40 1.5 cn 1o5 Jobs within 30 minutes by... m 20 cc' Car 3,089 (54/63) a 0 5 9 Transit 2 (61/63) o 0 0'I 2019 - 2021 2022 2023 State Counties IMIIIM-IIIIIMIII Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 38 Discovery Harbour 96772 uHER0141111 Demographics Property Market (rank) Population 2,576 (60/63) Owner-occupier share 80.8% (06/63) Median household income $54,474 (60/63) Median single-family price $272,500 (62/63) College education rate 22.1% (52/63) Median condominium price $120,000 (57/57) Unemployment rate 8 2% (11/63) UHERO Repeat Sales Index 353 (54/63) Racial Asian 17.8% 4463 shares: Median monthly owner costs $1,441 (60/63) ( / ) Median owner costs as share of income 21.6% (57/63) Black 0.5% (35/63) Hawaiian or Pacific Islander 9 4% (33/63) § 450° White 35.2% (25/63) E woo Under 18 population share 21.9% (26/63) Over 65 population share 26.7% (06/63) a. xw Zoning m ° 1994 1998 2002 2006 2010 2014 2018 2022 —.. Single Family Homes — Condos Residential land (acres) 3,171 (19/63) Single-family home transactions in past year....62 (35/63) Residents per acre of residential Out-of-state buyer share 46.8% (07/63) land 0 8 (58/63) Condominium transactions in past year 9 (45/63) Share of residential laud zoned Out-of-state buyer share 44.4% (20/63) multifamily 0 3 0 (40/63) Sng4-vainly.MO01,1,y C 200 O ■Busness li 150 0 C 10 100 Rental Market 111\\, Renter share 19.2% (58/63) a o —",- --""'.'r—" Median rent $1,030 (58/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,375 (59/63) single Family Homes — Condos 3000 200o Housing Stock woo ' , _.—_ Number of housing units 1,300 (58/63) cc Median age of housing units 33 years (50/63) o New projects permitted over past five years: • 2011 2013 2015 2017 2019 2021 2023 Single-family homes 82 (32/63) — Median Rent -- Median Cragslst Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 44.6% (03/63) Active short-term vacation rentals (STRs) 64 (36/63) Rent burdened (>30% of income) 65.2% (07/63) STRs as percentage of housing 4 9% (23/63) Severely rent burdened (>50% of income) 45.2% (03/63) M so 0 4= Job Access cr 4Q 1 co. Jobs within 30 minutes by... 20 2 Car 536 (61/63) Transit 1 (62/63) o n 'MP` 2019 2020 2021 39 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes Hawaiian Beaches 96778 UHERO Analytic- Demographics Property Market (rank) Population 14,777 (32/63) Owner-occupier share 76.4% (12/63) Median household income $40,240 (62/63) Median single-family price $230,000 (63/63) College education rate 23.8% (51/63) Median condominium price $- (-/57) Unemployment rate 13.8% (04/63) UHERO Repeat Sales Index 398 (44/63) Racial shares: 11.3% 5363 ares: Median monthly owner costs $1,248 (62/63) ( / ) Median owner costs as share of income 25.7% (35/63) Black 0 3% (44/63) Hawaiian or Pacific Islander 13.8% (16/63) § t500 White 42.3% (12/63) it too Under 18 population share 22.3% (22/63) Over 65 population share 20.3% (36/63) a soo c 0 Zoning x 01994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 29,299 (01/63) Single-family home transactions in past year...630 (01/63) Residents per acre of residential Out-of-state buyer share 26.7% (24/63) land 0 5 (60/63) Condominium transactions in past year 0 (58/63) Share of residential lan,d zoned Out-of-state buyer share 0 0% (56/63) multifamily 0 070 (42/63) Smgie.tamely IINultdamtly C ■ Business C1 5 V/ C 500 12 Rental Market -250 7 Renter share 23.6% (51/63) 1 o Median rent $1,216 (53/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,250 (61/63) Single Family Homes — Condos 3000 Housing Stock low ______ Number of housing units 6,938 (30/63) Median age of housing units 31 years (56/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 734 (03/63) — Median Rent -- Median Crags st Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 43.4% (06/63) Active short-term vacation rentals (STRs) 371 (12/63) Rent burdened (>30% of income) 60.3% (15/63) STRs as percentage of housing 5 3% (21/63) Severely rent burdened (>50% of income) 43.0% (04/63) ae to 400 8 0 c Job Access o 4 g 1n 200 Jobs within 30 minutes by... 0, 209 Car 2,654 (55/63) Transit 81 (52/63) Q o o''' 2019 2020 2021 2022 2023 State Counties Honolulu Zip Codes Kauai Zip Codes Maui Zip Codes 40 Volcano 96785 UHEROAnalvtic- Demographics Property Market (rank) Population 4,785 (46/63) Owner-occupier share 75.5% (14/63) Median household income $65,191 (54/63) Median single-family price $312,500 (59/63) College education rate 39.0% (15/63) Median condominium price $490,000 (41/57) Unemployment rate 2 2% (61/63) UHERO Repeat Sales Index 480 (21/63) Racial shares: Median monthly owner costs $1,582 (59/63) Asian 5 0% (61/63) Median owner costs as share of income 22.5% (56/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 11.2% (25/63) $Is°° White 40.8% (14/63) E,000 Under 18 population share 18.7% (47/63) Over 65 population share 27.7% (04/63) a soo Zonin 0 g +99. 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 11,665 (06/63) Single-family home transactions in past year...110 (20/63) Residents per acre of residential Out-of-state buyer share 22.7% (30/63) land 0 4 (61/63) Condominium transactions in past year 2 (51/63) Share of residential laud zoned Out-of-state buyer share 50.0% (14/63) �� multifamily 0 O o (42/63) . 14 fan* C II ausoless s 200 U y 150 C T. Rental Market ~ 100 sa To Renter share 24.5% (50/63) a o Median rent $1,272 (51/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,395 (58/63) Single Family Homes — Condos 3000 2000 Housing Stock C. woo Number of housing units 2,695 (42/63) Median age of housing units 29 years (58/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 176 (16/63) — Medan Rent —— Median craigsest Asking Rent Multi-family developments 0 (24/63) Median permit processing time - days (-/47) Median rent paid as share of income 31.7% (27/63) Active short-term vacation rentals (STRs) 270 (20/63) Rent burdened (>30% of income) 65.6% (05/63) STRs as percentage of housing 10.0% (12/63) Severely rent burdened (>50%of income)...19.6% (48/63) i2 h 300 I C Job Access 200 g c Jobs within 30 minutes by... 2 ,00 " Car 392 (63/63) a o Transit 68 (53/63) Ai 0 2- 2019 2020 2021 2022 2023 41 State Counties Big Island Zip Codes 1111111111111.111111 Kauai Zip Codes Maui Zip Codes Waimalu 96701 UHERO Anal tic• Demographics Property Market (rank) Population 41,818 (15/63) Owner-occupier share 68.3% (26/63) Median household income $101,728 (10/63) Median single-family price $1,100,000 (23/63) College education rate 37.2% (19/63) Median condominium price $480,000 (42/57) Unemployment rate 4 2% (39/63) UHERO Repeat Sales Index 447 (29/63) Racial shares: Median monthly owner costs $2,796 (15/63) Asian 51.2% (11/63) Median owner costs as share of income 25.6% (36/63) Black 1 9% (09/63) Hawaiian or Pacific Islander 8 6% (37/63) $ 1500 White 12.3% (55/63) €woo Under 18 population share 17.5% (53/63) 8 c Over 65 population share 21.6% (22/63) soa Zoning m 0 1994 1998 2002 2006 2010 2014 2018 2022 --- Single Runty Homes — Condos Residential land (acres) �- 2,567 (24/63) Single-family home transactions in past year....95 (25/63) i„. , Residents per acre of residential Out-of-state buyer share 9 5% (52/63) ttyr land 16.3 (24/63) Condominium trans rtions in past year 191 (15/63) ,, if_ Share of residential laud zoiaed Out-of-state buyer share 9.4% (49/63) multifamily 14.5% (17/663) 1n s,n9e.,army.4dWMy c0 600 U ■Wetness to 400 c 2 Rental Market ~ 200 Renter share 31.7% (38/63) o Median rent $1,819 (21/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,100 (37/63) Single Family Homes — Condos 3000 2000 _ _ _ -- - Housing Stock 1 wr woo of housing units 15,091 (17/63) Median age of housing units 49 years (12/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 80 (33/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 214 days (32/47) Median rent paid as share of income 28.0% (47/63) Active short-term vacation rentals (STRs) 20 (54/63) Rent burdened (>30% of income) 42.6% (54/63) STRs as percentage of housing 0 1% (57/63) Severely rent burdened (>50%of income) 19.9% (47/63) 0 3 e c f 40 0 Job Access Q °2 H to 0 20 7 Jobs within 30 minutes by... > o'0 Car 378,900 (01/63) 15 Transit 12,400 (11/63) lot., a oo5 nn23 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 42 'Ewa Gentry I►- 96706 UHER0411 Demographics Property Market (rank) Population 81,658 (01/63) Owner-occupier share 67.2% (29/63) Median household income $110,197 (08/63) Median single-family price $999,485 (27/63) College education rate 29.6% (36/63) Median condominium price $695,000 (25/57) Unemployment rate 3 6% (50/63) UHERO Repeat Sales Index 376 (47/63) Racial shares: Median monthly owner costs $2,970 (10/63) Asian 44.6% (18/63) Median owner costs as share of income 26.9% (26/63) Black 3 1% (05/63) Hawaiian or Pacific Islander 6 7% (50/63) § '500 White 14.8% (50/63) it 1000 Under 18 population share 27.9% (07/63) Over 65 population share 10.5% (62/63) a.c 500 Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 --6 Single Family Homes — Condos Residential land (acres) 3,766 (14/63) Single-family home transactions in past year...456 (02/63) 1.\\--\---).,4,' Residents per acre of residential Out-of-state buyer share 9.4% (53/63) V.. land 21.7 (17/63) Condominium transactions in past year 644 (04/63) P y — Share of residential land zoned Out-of-state buyer share 8.1% (52/63) multifamily 36.2% (09/63) Sn a tamely IIIMuertamay O 1000 IIIBusiness t0q 750 h c E/ S00 Rental Market - 250 Renter share 32.8% (35/63) a o Median rent $2,524 (05/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,995 (07/63) Single Family Homes — Condos 3000 Housing Stock N 2000 Q 1000 Number of housing units 22,735 (02/63) Median age of housing units 27 years (61/63) o New projects permitted over past five years: 2011 2013 r 2017 ,, 2021 2023 Single-family homes 1,056 (01/63) — Median Rent -- Median Cragstist Asking Rent Multi-family developments 101 (01/63) Median permit processing time 81 days (46/47) Median rent paid as share of income 35.3% (16/63) Active short-term vacation rentals (STRs) 50 (43/63) Rent burdened (>30% of income) 60.9% (14/63) STRs as percentage of housing 0 2% (53/63) Severely rent burdened (>50% of income) 29.0% (23/63) 100 0 4 a° o 03= Job Access g 50 02g. Jobs within 30 minutes by... m to Car 145,007 (17/63) o 1 Transit 465 (35/63) 0 00'r 201� 2021 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 43 Makakilo 96707 UHERO Ar,,ivn<< Demographics Property Market (rank) Population 49,903 (11/63) Owner-occupier share 72.2% (16/63) Median household income $114,355 (05/63) Median single-family price $950,000 (31/63) College education rate 33.3% (28/63) Median condominium price $677,500 (28/57) Unemployment rate 5 1% (30/63) UHERO Repeat Sales Index 417 (37/63) Racial shares: Median monthly owner costs $2,772 (16/63) Asian 28.9% (26/63) Median owner costs as share of income 24.9% (44/63) Black 4.0% (04/63) Hawaiian or Pacific Islander 13.7% (17/63) 8 t500 White 21.0% (39/63) E 1000 Under 18 population share 27.1% (09/63) —. --- Over 65 population share 11.0% (60/63) a.c �-- f Zoning0 �� 1994 1996 2002 2006 2010 2014 2018 2022 -- Single Fat*Homes — Condos Residential land (acres) 4,260 (12/63) Single-family home transactions in past year...165 (11/63) Residents per acre of residential Out-of-state buyer share 15.8% (41/63) land 11.7 (36/63) Condominium transactions in past year 334 (07/63) Share of residential land zopecl Out-of-state buyer share 17.7% (39/63) multifamily 44.00 (07/63� Smg a tamAy■Mumramtly C O II eusness 600 -`1 w C 400 Rental Market o 200 Renter share 27.8% (48/63) a 0 Median rent $2,221 (08/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,023 (41/63) Single Family Homes — Condos 3000 ''� Co-2000 Housing Stock o0o Number of housing units 16,261 (15/63) cc 1Median age of housing units 25 years (62/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2021 2023 Single-family homes 218 (12/63) — Median Rent -- Median Craigshst Asking Rent Multi-family developments 28 (04/63) Median permit processing time 76 days (47/47) Median rent paid as share of income 32.5% (25/63) Active short-term vacation rentals (STRs) 424 (11/63) Rent burdened (>30% of income) 58.4% (20/63) STRs as percentage of housing 2 6% (31/63) Severely rent burdened (>50%of income) 23.6% (38/63) 400 0 m 2x Job Access 200 `" Jobs within 30 minutes by... ,, Car 254,603 (16/63) 6 Transit 1,652 (23/63) zik o o'� 2019 2020 2021 2022 2023 o y State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 44 f Pupil-lea 96712 UHEROA ,i ,-,c. Demographics Property Market (rank) Population 7,294 (39/63) Owner-occupier share 51.4% (55/63) Median household income $85,600 (27/63) Median single-family price $1,801,300 (05/63) College education rate 33.9% (25/63) Median condominium price $1,436,000 (03/57) Unemployment rate 5 8% (25/63) UHERO Repeat Sales Index 622 (06/63) Racial shares: Median monthly owner costs $3,166 (06/63) Asian 12.3% (52/63) Median owner costs as share of income 25.1% (41/63) Black 1 1% (21/63) A. Hawaiian or Pacific Islander 6 9% (48/63) White 57.4% (04/63) r•t500 Under 18 population share 18.2% (49/63) Blow10 Over 65 population share 22.0% (21/63) Soo Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 " - Single Family Homes Condos Residential land (acres) 456 (51/63) Single-family home transactions in past year....48 (40/63) Residents per acre of residential Out-of-state buyer share 27.1% (21/63) land 16.0 (29/63) Condominium transactions in past year 22 (38/63) Share of residential laud zonedOut-of-state buyer share 50.0% (14/63) multifamily 0 00 (42/ ) c 200 &nos'amity O .auaruaa re 150 rn i00 Rental Market —.4 '''N Renter share 48.6% (09/63) 1 o Median rent $1,867 (19/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,800 (10/63) Single Family Homes — Condos 3000 ,s s_ - 2000 - - , Housing Stock 42) woo Number of housing units 3,160 (39/63) Median age of housing units 48 years (15/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 48 (43/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 288 days (13/47) Median rent paid as share of income 32.8% (23/63) Active short-term vacation rentals (STRs) 368 (13/63) Rent burdened (>30% of income) 58.5% (19/63) STRs as percentage of housing 11.6% (10/63) Severely rent burdened (>50% of income)...22.9% (40/63) 20 i 600 G M 15= Job Access t 400 g ,oS Jobs within 30 minutes by... 4 i200 cS Car 5,147 (47/63) 5 R Transit 202 (43/63) o o x 201, 2022 2023 45 State Counties Big Island Zip Codes _- Kauai Zip Codes Maui Zip Codes • Hau`ula 96717 UHERO t.,:.j',v;R-' Demographics Property Market (rank) Population 5,390 (45/63) Owner-occupier share 51.5% (54/63) Median household income $90,592 (20/63) Median single-family price $995,000 (28/63) College education rate 26.5% (46/63) Median condominium price $507,111 (38/57) Unemployment rate 4 5% (37/63) UHERO Repeat Sales Index 650 (04/63) Racial shares: Median monthly owner costs $2,604 (28/63) Asian 5 3% (60/63) Median owner costs as share of income 28.3% (17/63) Black 1 1% (21/63) Hawaiian or Pacific Islander 24.7% (08/63) § t S00 White 26.8% (34/63) Under 18 population share 31.6% (02/63) loon ' Over 65 population share 11.7% (58/63) a. 500 �„ �J Zoning 0 1994 1998 2002 2006 2010 2014 2018 2022 IIIV Single Family Homes — CondosResidential land (acres) 335 (57/63) Single-family home transactions in past year....27 (49/63) Residents per acre of residential Out-of-state buyer share 14.8% (47/63) land 16.1 (26/63) Condominium transactions in past year 31 (35/63) Share of residential land zoned Out-of-state buyer share 54.8% (12/63) multifamily 1 6 o (35/63 Single family IIIMulatarMy C 200 O ■Business 150 N C at 100 Rental Market t 50 Renter share 48.5% (10/63) C o Median rent $2,008 (14/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,500 (20/63) Single Family Homes — Condos 3000 • Housing Stock in 2000 •% •• woo Number of housing units 1,823 (48/63) Median age of housing units 47 years (18/63) ° New projects permitted over past five years: mil 2013 2015 2017 ;',.1'i 2021 2023 Single-family homes 11 (59/63) — Median Rent -- Median Craigskst Asking Rent Multi-family developments 0 (24/63) Median rentpaid as share of income 35.4% 14 63 Median permit processing time 461 days (04/47) ( / ) Active short-term vacation rentals (STRs) 206 (22/63) Rent burdened (>30% of income) 67.7% (04/63) STRs as percentage of housing 11.3% (11/63) Severely rent burdened (>50% of income)...30.7% (19/63) 15 a? c o Job Access 200 i0� i 100 5 0) Jobs within 30 minutes by... \\ i Car 3,848 (49/63) 8 Transit 2,038 (20/63) 0 0 x x 2019 202C 2023 46 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Kahuku 96731 UHEROAn,,, v ,c<_ Demographics Property Market (rank) Population 2,893 (57/63) Owner-occupier share 65.7% (34/63) Median household income $84,154 (30/63) Median single-family price $830,000 (44/63) College education rate 32.7% (31/63) Median condominium price $1,038,375 (09/57) Unemployment rate 4 8% (34/63) UHERO Repeat Sales Index 569 (10/63) Racial shares: Median monthly owner costs $2,698 (22/63) Asian 13.9% (51/63) Median owner costs as share of income 30.9% (06/63) Black 1 9% (09/63) Hawaiian or Pacific Islander 30.5% (05/63) § t500 White 22.5% (37/63) loon Under 18 population share 30.8% (03/63) e' Over 65 population share 15.3% (54/63) a s_ - Zoning 2 0 1994 1998 2002 2006 2010 2014 2018 2022 -- Single Family Homes — Condos ^S Residential land (acres) 341 (55/63) Single-family home transactions in past year....11 (59/63) Residents per acre of residential Out-of-state buyer share 9.1% (55/63) land 8 5 (39/63) Condominium transactions in past year 36 (33/63) Share of residential land zoned Out-of-state buyer share 33.3% (25/63) •81ioe4,,,M,1111 war* multifamily 10.4% (23/63) 200 ■Rohm o 150 a c «7 100 Rental Market H 3 So Renter share 34.3% (30/63) o Median rent $1,442 (43/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,100 (37/63) — Single Family Homes — Condos 3000 '" Housing Stock w 2000 ' t000 Number of housing units 1,313 (57/63) Cc° Median age of housing units 46 years (19/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 11 (59/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 0 (24/63) Median permit processing time 629 days (02/47) Median rent paid as share of income 25.8% (55/63) Active short-term vacation rentals (STRs) 362 (14/63) Rent burdened (>30% of income) 43.2% (53/63) STRs as percentage of housing 27.5% (04/63) Severely rent burdened (>50%of income)...10.5% (58/63) i 400 I Job Access r 20 Jobs within 30 minutes by... "Ik 200 to to Car 3,851 (48/63) , Transit 292 (39/63) o o 'r `-- 2019 2020 2021 2022 2023 47 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Kailua 96734 UHERO A'1,, v',c- Demographics Property Market (rank) Population 52,619 (08/63) Owner-occupier share 62.6% (40/63) Median household income $117,546 (04/63) Median single-family price $1,522,000 (08/63) College education rate 48.1% (05/63) Median condominium price $769,500 (18/57) Unemployment rate 3 5% (52/63) UHERO Repeat Sales Index 475 (22/63) Racial shares: Median monthly owner costs $3,727 (02/63) Asian 17.4% (46/63) Median owner costs as share of income 25.1% (41/63) Black 1 8% (12/63) Hawaiian or Pacific Islander 4 0% (55/63) S. t500 White 48.1% (08/63) -l000 Under 18 population share 23.1% (18/63) Over 65 population share 16.2% (50/63) d c sod Zoning 1 0 b 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos tir Residential land (acres) 3,290 (17/63) Single-family home transactions in past year...273 (06/63) it,.0 Residents per acre of residential Out-of-state buyer share 17.9% (37/63) land 16.0 (28/63) Condominium transactions in past year 96 (23/63) Share of residential land zoned Out-of-state buyer share 26.0% (31/63) multifamily 1 870 (34/63) N sing*lame/•... 0 0 II Busnesa N 400CP V\ Rental Market ''200 El Renter share 37.4% (24/63) a o Median rent $3,008 (02/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,850 (08/63) Single Family Homes — Condos 4000 000 �,2666667 _ ....—- Housing Stock Q 1333333 Number of housing units 17,934 (13/63) Median age of housing units 54 years (04/63) 0 00o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 148 (22/63) — Median Rent —— Median Cragslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 232 days (28/47) Median rent paid as share of income 39.9% (09/63) Active short-term vacation rentals (STRs) 356 (15/63) Rent burdened (>30% of income) 65.4% (06/63) STRs as percentage of housing 2 0% (38/63) Severely rent burdened (>50%of income) 36.3% (08/63) 40 Job Access sod 3 2 g. Jobs within 30 minutes by... `� Car 114,349 (18/63) '8 Transit 1,266 (26/63) 41k o o� 2019 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 48 Kaneohe 96744 UHEROAnal ic• Demographics Property Market (rank) Population 54,537 (05/63) Owner-occupier share 76.4% (12/63) Median household income $121,756 (03/63) Median single-family price $1,151,000 (21/63) College education rate 39.2% (14/63) Median condominium price $727,444 (23/57) Unemployment rate 3 6% (50/63) UHERO Repeat Sales Index 414 (39/63) Racial shares: Median monthly owner costs $2,905 (11/63) Asian 36.1% (22/63) Median owner costs as share of income 24.9% (44/63) Black 0 5% (35/63) Hawaiian or Pacific Islander 9 7% (31/63) 8 t500 White 20.3% (40/63) Zjk moo . Under 18 population share 18.8% (45/63) a,' --.--"`` Over 65 population share 22.6% (18/63) a Soo "} `` a 21) 0 Zoning 1994 1998 2002 200e 20n0 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 3,457 (16/63) Single-family home transactions in past year...176 (10/63) Residents per acre of residential Out-of-state buyer share 15.3% (43/63) IP land 15.8 (30/63) Condominium transactions in past year 186 (16/63) Share of residential laud zoned Out-of-state buyer share 14.5% (41/63) multifamily 4 8 0 (28/63) H S,ng a family■MuMeii y C O 7.5 ■Business co 400 H c Rental Market Renter share 23.6% (51/63) a Median rent $2,003 (15/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,850 (08/63) single Family Homes — Condos 3000 —. • 2000 - - Housing Stock woo Number of housing units 17,978 (12/63) Median age of housing units 50 years (10/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 171 (18/63) — Median Rent -- Median C,a gshel Asking Rent Multi-family developments 0 (24/63) Median permit processing time 272 days (19/47) Median rent paid as share of income 31.5% (28/63) Active short-term vacation rentals (STRs) 90 (34/63) Rent burdened (>30% of income) 53.7% (27/63) STRs as percentage of housing 0 5% (51/63) Severely rent burdened (>50%of income) 25.9% (31/63) 1,258e p 200 l oo t Job Access ,r 0 752 0 too 050 Jobs within 30 minutes by... u, Car 300,167 (14/63) o2s.- Transit 6,304 (14/63) u o oo 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 49 La`ie 96762 UHEROAIid YR. Demographics Property Market (rank) Population 6,867 (41/63) Owner-occupier share 38.6% (60/63) Median household income $100,585 (12/63) Median single-family price $1,890,000 (03/63) College education rate 34.7% (23/63) Median condominium price $319,347 (51/57) Unemployment rate 8 1% (12/63) UHERO Repeat Sales Index 362 (51/63) Racial shares: 14.2% 49 63 ares: Median monthly owner costs $3,555 (03/63) ( / ) Median owner costs as share of income 30.9% (06/63) Black 0 4% (40/63) Hawaiian or Pacific Islander 28.0% (06/63) 8 White 28.8% (31/63) y 1500 Under 18 population share 22.7% (20/63) i woo Over 65 population share 4 8% (63/63) c 500 Zoning0 1004 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condo, Residential land (acres) 374 (54/63) Single-family home trans artions in past year 5 (62/63) Residents per acre of residential Out-of-state buyer share 40.0% (09/63) land 18.4 (21/63) Condominium transactions in past year 9 (45/63) Share of residential laud zoned Out-of-state buyer share 0 0% (56/63) multifamily 0 00 (42/63 Ill"nglo+w t' 0 2ao .eu.n,., rt 150 0) c T ,00 Rental Market --. _ Renter share 61.4% (04/63) 0 -- ' Median rent $2,134 (09/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,200 (31/63) Single Family Homes — Condos 3000 2000 , Housing Stock iokloon Number of housing units 1,300 (58/63) Median age of housing units 49 years (12/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 35 (49/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 10 (08/63) Median permit processing time 320 days (10/47) Median rent paid as share of income 28.8% (44/63) Active short-term vacation rentals (STRs) 96 (32/63) Rent burdened (>30% of income) 44.2% (51/63) STRs as percentage of housing 7 4% (15/63) Severely rent burdened (>50% of income) 34.0% (13/63) Io 150 ,o= Job Access AE ,o0 y Jobs within 30 minutes by... 5 `. Car 3,831 (50/63) i A Transit 1,116 (27/63) o o " te 20t9 2021 2022 2023 50 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Pearl City 96782 UHERO ,ync. Demographics Property Market (rank) Population 37,992 (17/63) Owner-occupier share 66.8% (30/63) Median household income $97,925 (14/63) Median single-family price $915,000 (35/63) College education rate 30.7% (32/63) Median condominium price $462,500 (44/57) Unemployment rate 2 8% (56/63) UHERO Repeat Sales Index 548 (13/63) Racial shares: 51.5%ares: (10/63) Median monthly owner costs $2,425 (37/63) Median owner costs as share of income 23.1% (53/63) Black 1 9% (09/63) Hawaiian or Pacific Islander 7 9% (41/63) § t500 White 11.1% (56/63) a 1000 Under 18 population share 18.7% (47/63) Over 65 population share 23.9% (10/63) o 500 -,.,___._-.------''---*- Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 2,623 (23/63) Single-family home transactions in past year...105 (21/63) r Residents per acre of residential Out-of-state buyer share 3 8% (62/63) land 14.5 (32/63) Condominium transactions in past year 112 (21/63) Share of residential land zoned Out-of-state buyer share 10.7% (48/63) multifamily 16.1% (14/63) Single tamiiy.Multdamdy 500 ■BUS ness 300 100 Rental Market .-200 1 100 Renter share 33.2% (33/63) < o Median rent $2,064 (12/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,100 (37/63) Single Family Homes — condos 3000 _ __ ,__ Housing Stock a 2000 loco Number of housing units 12,371 (22/63) Median age of housing units 51 years (08/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 53 (39/63) — Median Rent -- Median Cratgsltst Asking Rent Multi-family developments 0 (24/63) Median permit processing time 191 days (37/47) Median rent paid as share of income 33.7% (21/63) Active short-term vacation rentals (STRs) 12 (58/63) Rent burdened (>30%of income) 56.7% (24/63) STRs as percentage of housing 0 1% (57/63) Severely rent burdened (>50%of income) 25.8% (32/63) ae c20 0.15 0 Job Access cc 010 c co 10 5 Jobs within 30 minutes by... m o os`� Car 373,380 (02/63) a Transit 1,825 (22/63) °oo" ikiiiti: 2023 51 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Wahiawa 96786 UHERO tic• Demographics Property Market (rank) Population 43,042 (14/63) Owner-occupier share 28.7% (63/63) Median household income $73,057 (47/63) Median single-family price $875,000 (41/63) College education rate 24.8% (50/63) Median condominium price $260,000 (53/57) Unemployment rate 4 4% (38/63) UHERO Repeat Sales Index 439 (30/63) Racial shares: Median monthly owner costs $2,430 (36/63) Asian 26.0% (29/63) Median owner costs as share of income 24.8% (47/63) Black 10.2% (01/63) Hawaiian or Pacific Islander 8 4% (39/63) a 1500 White 31.7% (27/63) 1000 Under 18 population share 30.1% (04/63) Over 65 population share 10.7% (61/63) a. sod c Zoning 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 1,173 (38/63) Single-family home transactions in past year....89 (27/63) Residents per acre of residential Out-of-state buyer share 5.6% (59/63) 'p land 36.7 (07/63) Condominium transactions in past year 51 (31/63) Share of residential land zipped Out-of-state buyer share 2 0% (55/63) multifamily 6 1 o (25/3) 200 Single.famly■MWMamdy O ■Business R 150 rn C to. 100 Rental Market - w Renter share 71.3% (01/63) a o Median rent $2,425 (06/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,600 (56/63) Single Family Homes — Condos 3000 y 2000 Housing Stock two Number of housing units 14,879 (18/63) Median age of housing units 44 years (26/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 85 (30/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 1 (20/63) Median rentpaid as share of income 44.5% 04 63 Median permit processing time 239 days (27/47) ( / ) Active short-term vacation rentals (STRs) 18 (55/63) Rent burdened (>30% of income) 74.6% (02/63) STRs as percentage of housing 0 1% (57/63) Severely rent burdened (>50%of income) 40.8% (05/63) 0 15 to20 o E Job Access 0 i0 l- Jobs within 30 minutes by... ; �0 Os Car 104,361 (20/63) - `) Transit 1,835 (21/63) a o 00 2020 2021 2022 2023 52 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Mililani 96789 UHEROall Demographics Property Market (rank) Population 55,249 (04/63) Owner-occupier share 79.1% (08/63) Median household income S110,840 (07/63) Median single-family price $1,089,500 (24/63) College education rate 42.4% (11/63) Median condominium price $532,500 (35/57) Unemployment rate 2 6% (59/63) UHERO Repeat Sales Index 419 (36/63) Racial shares: Median monthly owner costs $2,715 (20/63) Asian 49.7% (13/63) Median owner costs as share of income 26.1% (33/63) Black 2 6% (06/63) Hawaiian or Pacific Islander 4 6% (54/63) 8 1500 White 14.1% (51/63) a soo m000 Under 18 population share 21.8% (28/63) Over 65 population share 18.0% (44/63) 'r- r./ Zonin ° g 1994 1998 2002 2006 2010 2014 2018 2022 --LL Singh Family Homes — Condos ; Jr Residential land (acres) `� 3,011 (21/63) Single-family home transactions in past year...148 (12/63) Residents per acre of residential Out-of-state buyer share 4.1% (61/63) land 18.3 (22/63) Condominium tran ertions in past year 316 (09/63) ,Q Share of residential land zonedOut-of-state buyer share 12.0% (44/63) multifamily 22.8 0 (11/63) Sm9e-tamely■MuIatamAy C g 10oo ■Business (.t C 750 i Rental Market ~ s0o 250 .�. ._.•��-"_'--�. Renter share 20.9% (56/63) a o Median rent $2,109 (10/63) 1994 1996 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,300 (27/63) Singh Family Homes — Condos 3000 - • Housing Stock 2000 ... loon Number of housing units 19,384 (09/63) Median age of housing units 38 years (43/63) ° New projects permitted over past five years: eon 2013 2015 2017 2019 2021 2023 Single-family homes 21 (55/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 11 (07/63) Median permit processing time 321 days (09/47) Median rent paid as share of income 33.9% (20/63) Active short-term vacation rentals (STRs) 10 (59/63) Rent burdened (>30% of income) 59.0% (18/63) STRs as percentage of housing 0 0% (61/63) Severely rent burdened (>50%of income) 28.5% (24/63) ae i 20 01000 Job Access ' 00750 Jobs within 30 minutes by... t0 0 050 o Car 313,248 (12/63) i co o ozs A Transit 12,952 (10/63) 0 0 000'° 2019 023 x State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 53 4.• Waialua 96791 UHERO Anal tic• Demographics Property Market (rank) Population 7,010 (40/63) Owner-occupier share 64.7% (36/63) Median household income $83,298 (35/63) Median single-family price $1,025,000 (25/63) College education rate 28.4% (40/63) Median condominium price $815,000 (14/57) Unemployment rate 4 2% (39/63) UHERO Repeat Sales Index 596 (07/63) Racial shares: Median monthly owner costs $2,765 (17/63) Asian 29.6% (25/63) Median owner costs as share of income 31.3% (04/63) Black 0 5% (35/63) Hawaiian or Pacific Islander 5 5% (53/63) § t500 White 34.3% (26/63) B tl�oo Under 18 population share 16.8% (56/63) Over 65 population share 21.3% (25/63) c soo Zoning 1 0 b 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 7. 433 (53/63) Single-family home transactions in past year....35 (47/63) Residents per acre of residential Out-of-state buyer share 14.3% (48/63) land 16.2 (25/63) Condominium transactions in past year 33 (34/63) smote lamny Mwmamey Share of residential land zoned Out-of-state buyer share 30.3% (26/63) eus.ess multifamily 5 7% (26/63)IIIN 200 C 0 t5o o Rental Market = 50 Renter share 35.3% (28/63) a 0 Median rent $1,973 (16/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,600 (14/63) Single Family Homes — Condos 3000 ' Housing Stock w2000 -- ' l000 Number of housing units 2,770 (41/63) Median age of housing units 49 years (12/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 28 (51/63) — Median Rent -- Median Cragslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 304 days (11/47) Median rent paid as share of income 35.9% (12/63) Active short-term vacation rentals (STRs) 113 (27/63) Rent burdened (>30% of income) 61.4% (12/63) STRs as percentage of housing 4 1% (26/63) Severely rent burdened (>50%of income) 32.9% (15/63) a200 750 Job Access 5 0 c Jobs within 30 minutes by... t00 2 5un Car 15,191 (38/63) 4, 8 Transit 91 (50/63) o 0 0 A ° 2019 2021 2022 2023 . N State Counties Big Island Zip Codes _- Kauai Zip Codes Maui Zip Codes 5 4 Wai`anae 96792 UHERO Demographics Property Market (rank) Population 52,829 (07/63) Owner-occupier share 59.5% (47/63) Median household income $74,914 (44/63) Median single-family price $650,000 (50/63) College education rate 16.8% (60/63) Median condominium price $266,000 (52/57) Unemployment rate 11.3% (06/63) UHERO Repeat Sales Index 473 (24/63) Racial shares: Median monthly owner costs $2,152 (46/63) Asian 9 4% (55/63) Median owner costs as share of income 25.8% (34/63) Black 2 1% (08/63) Hawaiian or Pacific Islander 45.3% (01/63) § t500 White 9 8% (58/63) €1000 Under 18 population share 32.3% (01/63) Over 65 population share 12.6% (57/63) it c soo Zoning gi 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) ;-s' 2,350 (25/63) Single-family home transactions in past year...250 (07/63) Ne Residents per acre of residential Out-of-state buyer share 9 2% (54/63) L. land 22.5 (15/63) Condominium transactions in past year 217 (13/63) `.- Share of residential land zonedOut-of-state buyer share 21.7% (37/63) multifamily 3 3% (31/63) C Su+gkram�N•MulwaMr C O -13 al Bus iness m 400 0 C Co Rental Market ~ 200 Renter share 40.5% (17/63) ic o Median rent $1,615 (31/63) 1994 199E 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,875 (48/63) Single Family Homes — Condos 3000 2000 Housing Stock r t000 Number of housing units 15,276 (16/63) Median age of housing units 45 years (22/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 317 (08/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 6 (12/63) Median permit processing time 497 days (03/47) Median rent paid as share of income 38.9% (11/63) Active short-term vacation rentals (STRs) 314 (17/63) Rent burdened (>30% of income) 63.5% (10/63) STRs as percentage of housing 2 1% (36/63) Severely rent burdened (>50%of income) 39.0% (06/63) 3 e c Job Access 2 c zoo 0 Jobs within 30 minutes by... ' uD Car 24,442 (29/63) iiro i cn Transit 2,049 (19/63) o o" 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 55 Waimanalo 96795 UHEROAH ,,,'1c< Demographics Property Market (rank) Population 9,815 (35/63) Owner-occupier share 76.5% (11/63) Median household income $107,222 (09/63) Median single-family price $910,000 (36/63) College education rate 20.5% (55/63) Median condominium price $495,000 (40/57) Unemployment rate 4 1% (43/63) UHERO Repeat Sales Index 502 (18/63) Racial shares: Median monthly owner costs $1,987 (51/63) Asian 10.0% (54/63) Median owner costs as share of income 23.1% (53/63) Black 0 1% (53/63) Hawaiian or Pacific Islander 36.0% (03/63) $t 500 White 9 5% (59/63) it 1000 Under 18 population share 27.0% (10/63) Over 65 population share 17.6% (45/63) ttsoo ' Zoning ° , 1994 1998 2002 2008 2010 2014 2018 2022 j Slopes Fad*Homes Residential land (acres) en. 440 (52/63) Single-family home transactions in past year....27 (49/63) Residents per acre of residential Out-of-state buyer share 18.5% (35/63) land 22.3 (16/63) Condominium transactions in past year 1 (55/63) Share of residential land zonedOut-of-state buyer share 0 0% (56/63) multifamily 0 00 (42/63) 9npe Iamiry c 200 0 .eusalesa ti 45 150 of c 10 100 Rental Market Renter share 23.5% (53/63) < 0 Median rent $1,296 (49/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,150 (35/63) — slaps Farm*Homes — Condos 4000 000 v^►2666 667 `% Housing Stock 2 1333 333 `` Number of housing units 2,479 (44/63) Median age of housing units 48 years (15/63) °000 New projects permitted over past five years: 2011 2019 2015 2017 2019 2021 2023 Single-family homes 36 (48/63) — Medan Rent -- Median Crooke Asking Rent Multi-family developments 0 (24/63) Median permit processing time 231 days (29/47) Median rent paid as share of income 22.4% (61/63) Active short-term vacation rentals (STRs) 52 (42/63) Rent burdened (>30% of income) 34.7% (59/63) STRs as percentage of housing 2 1% (36/63) Severely rent burdened (>50% of income) 18.8% (50/63) 5ae 100 a o Job Access 3 Jobs within 30 minutes by... m 50 2,p Car 27,553 (26/63) a 1 A Transit 101 (48/63) 0 o" -,-* 2019 �J21 2022 2023 ` State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 56 Waipahu . 96797 UHEROAnaiviic• Demographics Property Market (rank) Population 72,943 (02/63) Owner-occupier share 67.4% (28/63) Median household income $97,875 (15/63) Median single-family price $920,000 (34/63) College education rate 24.9% (49/63) Median condominium price $511,154 (37/57) Unemployment rate 3 9% (47/63) UHERO Repeat Sales Index 388 (46/63) Racial shares: Median monthly owner costs $2,431 (35/63) Asian 62.0% (01/63) Median owner costs as share of income 24.2% (49/63) Black 1 1% (21/63) Hawaiian or Pacific Islander 11.3% (23/63) 8 15°° White 6 8% (63/63) 1000 Under 18 population share 20.1% (38/63) Over 65 population share 18.5% (41/63) XSoo c Zonin ° g 1994 1998 2002 2006 2010 201e 2018 2022 f — Single Family Homes — Condos kii Residential land (acres) 3,504 (15/63) Single-family home transactions in past year...188 (08/63) Residents per acre of residential Out-of-state buyer share 5.3% (60/63) iikland 20.8 (18/63) Condominium transactions in past year 258 (12/63) Share of residential laud zoned Out-of-state buyer share 5 0% (54/63) multifamily 31.3% (10/63) c 800 SKgb-tamtly■MWaNeWy 0 ^ IIIBusiness 03 600 / co400 _ ,i' Rental Market O 200 Renter share 32.6% (36/63) a o Median rent $1,799 (23/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,195 (34/63) Single Family Homes — Condos 3000 __ Housing Stock w2000 --_`.' 1 1000 Number of housing units 20,873 (04/63) Median age of housing units 40 years (36/63) o New projects permitted over past five years: 201l 2013 2015 2012 ,2' 2021 2023 Single-family homes 246 (10/63) — MsOisn Rent -- Median Craigslist Asking Rent Multi-family developments 20 (06/63) Median permit processing time 373 days (07/47) Median rent paid as share of income 30.7% (33/63) Active short-term vacation rentals (STRs) 13 (57/63) Rent burdened (>30% of income) 51.8% (32/63) STRs as percentage of housing 0 1% (57/63) Severely rent burdened (>50% of income) 23.8% (36/63) 40 020 a 01so= Job Access F \\ 0 toc V)- . Jobs within 30 minutes by... 1 o.os c�_n Car 369,047 (03/63) 8 Transit 13,772 (09/63) of o o.00'� 2019 2020 2021 2022 2023 57 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Downtown Honolulu, Pauoa, etc. ,, 96813 UHERO Anal is 5 Demographics Property Market (rank) Population 25,292 (24/63) Owner-occupier share 52.5% (53/63) Median household income $83,804 (33/63) Median single-family price $1,150,000 (22/63) College education rate 46.3% (07/63) Median condominium price $750,000 (20/57) Unemployment rate 4 0% (45/63) UHERO Repeat Sales Index 245 (63/63) Racial shares: Median monthly owner costs $2,728 (18/63) Asian 46.9% (16/63) Median owner costs as share of income 24.9% (44/63) Black 2 2% (07/63) Hawaiian or Pacific Islander 10.3% (28/63) § 1500 White 17.4% (46/63) a /�,,/ t000 /" Under 18 population share 15.3% (59/63) , Over 65 population share 20.5% (33/63) SW s Zoning 1 0 b 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) • 1,258 (37/63) Single-family home transactions in past year....39 (43/63) Residents per acre of residential Out-of-state buyer share 10.3% (50/63) . f' land 20.1 (19/63) Condominium transactions in past year 334 (07/63) Share of residential laud zo Out-of-state buyer share 8.4% (51/63) multifamily 55.40 (04/63) Smgb-Iamdy III MulatlarC 1000 O ■ Bus.ness 43 3 750 H c 2 500 Rental Market 1- TB 250 Renter share 47.5% (11/63) < 0 Median rent $1,640 (30/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,395 (26/63) — single Family Homes — Condos 3000 2000 ..-- Housing Stock loot) Number of housing units 12,901 (20/63) Median age of housing units 40 years (36/63) o New projects permitted over past five years: 2011 2013 2015 2017 zo, zozl 2023 Single-family homes 49 (41/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 3 (15/63) Median permit processing time 249 days (24/47) Median rent paid as share of income 33.7% (21/63) Active short-term vacation rentals (STRs) 92 (33/63) Rent burdened (>30%of income) 57.1% (22/63) STRs as percentage of housing 0 7% (46/63) Severely rent burdened (>50%of income) 32.4% (16/63) 1 00 e f o too ors= Job Access 0 50 y. Jobs within 30 minutes by... 1 50 a Car 359,926 (06/63) 2. 0.0 �� Transit 154,380 (02/63) o 00 t, 2021 2022 2023 58 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Ala Moana, Ward, etc. 96814 UHEROAnai ric. Demographics Property Market (rank) Population 22,880 (26/63) Owner-occupier share 41.6% (59/63) Median household income $64,635 (55/63) Median single-family price $1,487,000 (11/63) College education rate 42.9% (09/63) Median condominium price $840,000 (11/57) Unemployment rate 4 2% (39/63) UHERO Repeat Sales Index 267 (62/63) Racial shares: Median monthly owner costs $2,629 (27/63) Asian 60.4% (03/63) Median owner costs as share of income 28.6% (16/63) Black 1 2% (18/63) Hawaiian or Pacific Islander 6 0% (52/63) §3000 White 15.4% (48/63) i Under 18 population share 12.0% (62/63) 2 2000 Over 65 population share 21.5% (24/63) 1000 Zoning 0 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — CondosResidential land (acres) iii),_//,/ i 660 (44/63) Single-family home transactions in past year 3 (63/63) Residents per acre of residential Out-of-state buyer share 0.0% (63/63) land 34.7 (08/63) Condominium transactions in past year 992 (02/63) Share of residential lance zonedOut-of-state buyer share 23.0% (33/63) multifamily 100.0% (01/63) H ■Munoao iy C 2000 0 ■Business R 1500 to C 10 1 000 Rental Market 500 Renter share 58.4% (05/63) a 0 _. _m.-. __w__.___ Median rent $1,606 (32/63) 1994 996 2002 2008 2010 2014 2018 2022 Median asking rent (Craigslist) $1,875 (48/63) — si,tp,Fanay►oma — Condos 3000 Housing Stock % �2000 - _ _ _ ' �. C. mooNumber of housing units 14,422 (19/63) Median age of housing units 43 years (27/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 10 (61/63) — Medan Rent -- Median Craigslist Asking Rent Multi-family developments 7 (10/63) Median permit processing time 736 days (01/47) Median rent paid as share of income 29.2% (41/63) Active short-term vacation rentals (STRs) 154 (24/63) Rent burdened (>30% of income) 47.9% (42/63) STRs as percentage of housing 1 1% (40/63) Severely rent burdened (>50% of income) 24.7% (33/63) ,so e 090 Job Access too 0 60 <n Jobs within 30 minutes by... ; 50 0 3� Car 336,049 (09/63) 6 Transit 176,478 (01/63) a o 00' /hi* 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 59 Waikiki, Kapahulu, etc. 96815 UHER0111111 Demographics Property Market (rank) Population 26,608 (22/63) Owner-occupier share 47.5% (57/63) Median household income $67,383 (52/63) Median single-family price $1,352,500 (14/63) College education rate 46.5% (06/63) Median condominium price $416,667 (48/57) Unemployment rate 5 4% (29/63) UHERO Repeat Sales Index 308 (59/63) Racial shares: Median monthly owner costs $2,561 (31/63) Asian 40.7% (19/63) Median owner costs as share of income 29.3% (10/63) Black 1 6% (15/63) Hawaiian or Pacific Islander 3 8% (56/63) § i500 White 39.9% (18/63) il,woo Under 18 population share 10.8% (63/63) s§yp Over 65 population share 23.2% (14/63) a 500 c 0 Zoning 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 938 (42/63) Single-family home transactions in past year....44 (42/63) Residents per acre of residential Out-of-state buyer share 18.2% (36/63) €\ ' land 28.4 (11/63) Condominium transactions in past year 1,049 (01/63) r-- Share of residential land zonedOut-of-state buyer share 38.2% (24/63) multifamily 66.2 o (03/63) Smg4e-fam4y.MulllamOy C O_ 2000 IIIus+Bness U 00 c1 0 Rental Market ' soo Renter share 52.5% (07/63) a o - "`----- Median rent $1,768 (24/63) 1994 3998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,800 (52/63) — single Family Homes — Condos 3000 2000 _ Housing Stock �� Number of housing units 23,378 (01/63) Median age of housing units 51 years (08/63) ° New projects permitted over past five years: 2011 2013 2o1s 2017 2019 2021 2023 Single-family homes 53 (39/63) — Median Rent -- Median CragsastAsking Rent Multi-family developments 1 (20/63) Median permit processing time 272 days (19/47) Median rent paid as share of income 34.6% (19/63) Active short-term vacation rentals (STRs) ...5,166 (01/63) Rent burdened (>30% of income) 57.4% (21/63) STRs as percentage of housing 22.1% (06/63) Severely rent burdened (>50% of income)...30.2% (22/63) �0a4 4000 Job Access 15 Jobs within 30 minutes by... .2000 10 Car 302,237 (13/63) ts> 5 92 Transit 146,212 (04/63) a o g 2c, 2022 2023 60 State Counties Big Island Zip Codes immogitionii Kauai Zip Codes Maui Zip Codes Kahala, Kaimuki, etc. 96816 UHEROA, ,,,,'1, Demographics Property Market (rank) Population 51,526 (10/63) Owner-occupier share 60.6% (44/63) Median household income $98,059 (13/63) Median single-family price $1,250,000 (16/63) College education rate 44.2% (08/63) Median condominium price $685,000 (27/57) Unemployment rate 2 8% (56/63) UHERO Repeat Sales Index 334 (57/63) Racial shares: Median monthly owner costs $3,243 (04/63) Asian 50.1% (12/63) Median owner costs as share of income 26.7% (28/63) Black 0 5% (35/63) Hawaiian or Pacific Islander 7 2% (45/63) § t500 White 19.7% (42/63) it moo Under 18 population share (58/63) Over 65 population share 23.7% (128/63) a. 500 Zoning 1 ° 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes Condos Residential land (acres) 3,114 (20/63) Single-family home transactions in past year...184 (09/63) 1477 Residents per acre of residential Out-of-state buyer share 9.8% (51/63) land 16.5 (23/63) Condominium transactions in past year 71 (27/63) Share of residential land zo Out-of-state buyer share 22.5% (35/63) multifamily 5 470 (27/63) 2 S,rge tamiy■4A1II14T y 400 ■84s,ness 300 , ,' .`Y\ /*`,/---'''- ss e 200 Rental Market 100 Renter share 39.4% (20/63) & o Median rent $1,762 (25/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,125 (36/63) single Family Homes — Condos 3000 __ Housing Stock y 2000 � � — co l000 Number of housing units 19,632 (07/63) Median age of housing units 60 years (01/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 195 (14/63) — Median Rent —— Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 211 days (33/47) Median rent paid as share of income 29.5% (38/63) Active short-term vacation rentals (STRs) 192 (23/63) Rent burdened (>30% of income) 49.1% (38/63) STRs as percentage of housing 1 0% (42/63) Severely rent burdened (>50%of income) 23.7% (37/63) 400 20e 15= Job Access ce 200 o Jobs within 30 minutes by... • 'o Vi Car 331,159 (11/63) os Transit 18,724 (08/63) �t o 0 0 ,'� 2019 2020 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 61 Nu`uanu, Liliha, etc. e 96817 UHEROAna1 tic- Demographics Property Market (rank) Population 54,183 (06/63) Owner-occupier share 43.3% (58/63) Median household income $67,086 (53/63) Median single-family price $899,500 (39/63) College education rate 28.7% (38/63) Median condominium price $410,000 (49/57) Unemployment rate 6 1% (21/63) UHERO Repeat Sales Index 285 (60/63) Racial 61.6% 0263 alhares: Median monthly owner costs $2,662 (23/63) ( / ) Median owner costs as share of income 26.3% (31/63) Black 0 9% (26/63) Hawaiian or Pacific Islander 10.5% (27/63) § 1500 White 9 4% (60/63) it woo Under 18 population share 17.1% (55/63) yyqq �` Over 65 population share 23.8% (11/63) a. 500C * — Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) • 2,209 (27/63) Single-family home transactions in past year....86 (28/63) Residents per acre of residential Out-of-state buyer share 7.0% (57/63) land 24.5 (13/63) Condominium transactions in past year 166 (18/63) Share of residential lapsl zone Out-of-state buyer share 5.4% (53/63) multifamily 15.8 0 (15/63 Smgk-rainy.modamuy C O III Busness cd 400 N C 2 Rental Market -200 Renter share 56.7% (06/63) o Median rent $1,291 (50/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,950 (44/63) — Single Family Homes — Condos 3000 2000 '__ Housing Stock t000 Number of housing units 20,993 (03/63) Median age of housing units 52 years (07/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 123 (25/63) — Median Rent -- Median Cragsrst Asking Rent Multi-family developments 3 (15/63) Median permit processing time 288 days (13/47) Median rent paid as share of income 29.8% (36/63) Active short-term vacation rentals (STRs) 34 (49/63) Rent burdened (>30% of income) 49.4% (37/63) STRs as percentage of housing 0 2% (53/63) Severely rent burdened (>50%of income) 19.4% (49/63) f 0.4 C Job Access :: . c Jobs within 30 minutes by... I ro Car 365,982 (04/63) °1 U' Transit 111,207 (05/63) 1044%Its 0 0 0 2019 2021 2022 2023 State Counties Big Island Zip Codes 11111.11111111111111.1 Kauai Zip Codes Maui Zip Codes 62 Salt Lake, JBPHH, etc. t 96818 UHERO 'nal tic- Demographics Property Market (rank) Population 59,703 (03/63) Owner-occupier share 36.5% (61/63) Median household income $87,175 (24/63) Median single-family price $1,206,000 (19/63) College education rate 36.7% (20/63) Median condominium price $440,000 (47/57) Unemployment rate 4 0% (45/63) UHERO Repeat Sales Index 361 (52/63) Racial shares: Median monthly owner costs $2,549 (32/63) Asian 36.7% (20/63) Median owner costs as share of income 26.5% (29/63) Black 6 9% (02/63) Hawaiian or Pacific Islander 2 9% (60/63) § t500 White 31.2% (28/63) loon Under 18 population share 28.9% (06/63) Over 65 population share 11.2% (59/63) a. 500 i Zoning Ma t998 2002 2006 2010 2014 2016 2022 ` Single Family Homes -- Condos Residential land (acres) ' 1,267 (36/63) Single-family home transactions in past year....38 (44/63) Residents per acre of residential Out-of-state buyer share 10.5% (49/63) land 47.1 (06/63) Condominium transactions in past year 193 (14/63) Share of residential laucl zonedOut-of-state buyer share 9 3% (50/63) multifamily 12.7% (18/ Singe family.Muadarn y C O ■8us.ness as 400 rn COC Rental Market �200 Renter share 63.5% (03/63) a 0 Median rent $2,918 (03/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,100 (37/63) Single Family Homes -- Condos 3000 2 _ . ...._- Housing Stock a, 1�o Number of housing units 20,321 (06/63) Median age of housing units 40 years (36/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 <> 2023 Single-family homes 26 (53/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median rentpaid as share of income 41.1% 08 63 Median permit processing time 276 days (16/47) ( / ) Active short-term vacation rentals (STRs) 8 (61/63) Rent burdened (>30% of income) 70.7% (03/63) STRs as percentage of housing 0 0% (61/63) Severely rent burdened (>50%of income) 38.4% (07/63) 0 125 e f40 0 100 9 Job Access 0 075 H H fn . �0050 Jobs within 30 minutes by... ; Car 357,704 (07/63) a 0 025 Transit 60,168 (06/63) o 0000'°' 2019 2020 202 2022 2023 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes 63 Kalihi, Moanalua, etc. 96819 UHEROall Demographics Property Market (rank) Population 51,712 (09/63) Owner-occupier share 49.1% (56/63) Median household income $90,678 (19/63) Median single-family price $948,000 (33/63) College education rate 19.7% (57/63) Median condominium price $720,000 (24/57) Unemployment rate 5 7% (26/63) UHERO Repeat Sales Index 467 (25/63) Racial shares: Median monthly owner costs $3,104 (07/63) Asian 59.1% (04/63) Median owner costs as share of income 24.0% (51/63) Black 1 2% (18/63) Hawaiian or Pacific Islander 12.9% (19/63) 8 1500 White 7 6% (62/63) a 1000 Under 18 population share 21.7% (30/63) ._ Over 65 population share 16.8% (48/63) c soo Zonin Q g-1. 1994 1998 2002 2006 2010 20t4 2018 2022 Residential land (acres) — SingleFan*Homes Condos 1,732 (34/63) Single-family home transactions in past year...137 (13/63) Residents per acre of residential Out-of-state buyer share 8.0% (56/63) L--'.4f„„;% land 29.8 (10/63) Condominium transactions in past year 29 (36/63) Shale of residential lad zo Out-of-state buyer share 13.8% (42/63) multifamily 8 4% (24/63) Smp s army■Mumtan* g 200 U ■Busmen co iso c ce Rental Market it 150 m 50 Renter share 50.9% (08/63) a 0 Median rent $1,580 (35/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,750 (55/63) — Single Farads limos — Combs 3000 2000 Housing Stock I wooNumber of housing units 12,730 (21/63) Median age of housing units 57 years (03/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 79 (34/63) — Median Rent -- Median Gaigslsst Asking Rent Multi-family developments 0 (24/63) Median permit processing time 274 days (17/47) Median rent paid as share of income 29.0% (42/63) Active short-term vacation rentals (STRs) 34 (49/63) Rent burdened (>30% of income) 47.9% (42/63) STRs as percentage of housing 0 3% (52/63) Severely rent burdened (>50% of income) 21.8% (43/63) 04 o f 00.3 Job Access Q 2 c Jobs within 30 minutes by... Car 364,972 (05/63) 0t Transit 24,702 (07/63) At% Q Q.l) 2019 2021 2022 2023 64 State Counties Big Island Zip Codes IIIIIIIMIMI Kauai Zip Codes Maui Zip Codes `Aina Haina, Kuli`ou`ou 96821 UHERO Analvtic• Demographics Property Market (rank) Population 19,250 (28/63) Owner-occupier share 84.2% (03/63) Median household income $152,363 (01/63) Median single-family price $1.800.000 (06/63) College education rate 61.1% (01/63) Median condominium price $1,090,000 (07/57) Unemployment rate 3 8% (49/63) UHERO Repeat Sales Index 393 (45/63) Racial shares: Median monthly owner costs $3,803 (01/63) Asian 51.9% (09/63) Median owner costs as share of income 25.3% (40/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 2 8% (61/63) White 22.4% (38/63) a t56° Under 18 population share 16.8% (56/63) § t000 Over 65 population share 27.4% (05/63) a. ics0o Zoning 2 ° tssa ts9a 2002 z0a6 2010 2014 2018 2022 I-- 2"-- Single Famity Homes — Condos `` Residential land (acres) ,111 (29/63) Single-family home transactions in past year...132 (16/63) Residents per acre of residential Out-of-state buyer share 17.4% (39/63) land 9 1 (37/63) Condominium transactions in past year 9 (45/63) Share of residential lami zoned Out-of-state buyer share 11.1% (47/63) multifamily 0 4 o (38/63) c 300 Single-tamiry.MuMYrWy 0 ■&$neSS H 200 C 0 Rental Market too Renter share 15.8% (61/63) o /\-"------w. Median rent $2,603 (04/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,650 (13/63) Single Family Homes — Condos 3000 __ _ 2000 — Housing Stock + oo Number of housing units 7,427 (28/63) Median age of housing units 54 years (04/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2221 2023 Single-family homes 90 (28/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 0 (24/63) Median permit processing time 222 days (31/47) Median rent paid as share of income 25.9% (53/63) Active short-term vacation rentals (STRs) 70 (35/63) Rent burdened (>30%of income) 36.6% (58/63) STRs as percentage of housing 0 9% (43/63) Severely rent burdened (>50% of income) 21.2% (45/63) 20 0 � C 15g Job Access 100 t o y co Jobs within 30 minutes by... 2 so ro cn Car 294,892 (15/63) 0 o s Transit 860 (28/63) o 0 0x 2014 2022 2023 65 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Makiki, Manoa, etc. 96822 UHERO An, ivIIc• Demographics Property Market (rank) Population 48,037 (13/63) Owner-occupier share 55.8% (51/63) Median household income $83,946 (32/63) Median single-family price $1,495,000 (10/63) College education rate 53.7% (03/63) Median condominium price $395,000 (50/57) Unemployment rate 6 1% (21/63) UHERO Repeat Sales Index 345 (55/63) Racial shares: Median monthly owner costs $2,809 (13/63) Asian 49.5% (14/63) Median owner costs as share of income 25.5% (38/63) Black 1 2% (18/63) Hawaiian or Pacific Islander 8 1% (40/63) R. t500 /' White 20.3% (40/63) ri ,, Under 18 population share 15.0% (60/63) § t00° ...,"----- Over 65 population share 21.3% (25/63) � Zonin 0 g tssa 1998 2002 2006 20t0 2014 2018 2022 Residential land (acres) — Fay Condos 2,013 (32/63) Single-family home transactions in past year...101 (24/63) t Residents per acre of residential Out-of-state buyer share 14.9% (46/63) 4 land 23.9 (14/63) Condominium transactions in past year 263 (10/63) • Share of residential la l zonedOut-of-state buyer share 11.4% (46/63) multifamily 12.570 (19/ ) Su a tan*IIMAW* to C O IIBusiness <U9 rn c 400 ef Rental Marketit Renter share 44.2% (13/63) a 0 Median rent $1,575 (36/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,800 (52/63) single Family Homes — Condos 3000 2000 Housing Stock_ 1000 �� Number of housing units 20,370 (05/63) Median age of housing units 53 years (06/63) o New projects permitted over past five years: 2011 2013 2015 2017 20,9 2021 2023 Single-family homes 87 (29/63) — Medan Rent -- Median Cratgskst Asking Rent Multi-family developments 2 (18/63) Median rentpaid as share of income 30.0% 35 63 Median permit processing time 267 days (21/47) ( / ) Active short-term vacation rentals (STRs) 48 (45/63) Rent burdened (>30% of income) 49.9% (35/63) STRs as percentage of housing 0 2% (53/63) Severely rent burdened (>50% of income) 24.0% (35/63) ,00 c o.a' Job Access Q v~, sfl Jobs within 30 minutes by... m 0 2 Car 334,387 (10/63) Se Transit 4,511 (17/63) solit soa o 00' 2019 2020 2021 2022 2023 66 State Counties Big Island Zip Codes Kauai Zip Codes Maui Zip Codes Hawai`i Kai 96825 UHERO Analytic. Demographics Property Market (rank) Population 30,621 (19/63) Owner-occupier share 82.8% (04/63) Median household income $130,964 (02/63) Median single-family price $1,500,000 (09/63) College education rate 57.9% (02/63) Median condominium price $820,000 (13/57) Unemployment rate 4 2% (39/63) UHERO Repeat Sales Index 337 (56/63) Racial shares: Median monthly owner costs $3,229 (05/63) Asian 44.9% (17/63) Median owner costs as share of income 25.6% (36/63) Black 0 9% (26/63) Hawaiian or Pacific Islander 3 7% (57/63) § two White 27.2% (33/63) w Under 18 population share 20.9% (33/63) § '0(4 Over 65 population share 26.3% (07/63) a. �_ _.. —"'� Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos ilk i Residential land (acres) ,*. 2,103 (30/63) Single-family home transactions in past year...133 (15/63) Residents per acre of residential Out-of-state buyer share 15.0% (45/63) land 14.6 (31/63) Condominium tranwartions in past year 167 (17/63) Share of residential land zonedOut-of-state buyer share 22.2% (36/63) s- multifamily 11.4"/0 (22/63) I .14ua4amA y �400 Rental Market `' "`"""` m 200 z Renter share 17.2% (60/63) a o Median rent $3,128 (01/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $3,100 (02/63) Single Family Homes — Condos 4000 000 �� _ _ _.0- Housing Stock 47,2656 1333 333 Number of housing units 11,872 (23/63) Median age of housing units 46 years (19/63) 0 000 New projects permitted over past five years: 2011 2013 2015 2017 2019 202' 2023 Single-family homes 42 (45/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 3 (15/63) Median permit processing time 244 days (26/47) Median rent paid as share of income 34.8% (17/63) Active short-term vacation rentals (STRs) 102 (29/63) Rent burdened (>30% of income) 57.1% (22/63) STRs as percentage of housing 0.9% (43/63) Severely rent burdened (>50% of income)...21.4% (44/63) 200 150 c Job Access ' 0 E � Jobs within 30 minutes by... 0 Sag Car 114,279 (19/63) Transit 800 (30/63) 0 0 0 2019 2020 2021 2022 2023 67 State Counties Big Island Zip Codes 1111111111111111111M Kauai Zip Codes Maui Zip Codes ./IcCully, VIo`ili`ili, etc. • 96826 UHEROAnalvtic• Demographics Property Market (rank) Population 30,592 (20/63) Owner-occupier share 31.7% (62/63) Median household income $63,067 (56/63) Median single-family price $1,350,000 (15/63) College education rate 37.8% (17/63) Median condominium price $455,000 (45/57) Unemployment rate 3 4% (54/63) UHERO Repeat Sales Index 285 (61/63) Racial shares: Median monthly owner costs $2,330 (42/63) Asian 56.5% (06/63) Median owner costs as share of income 30.8% (08/63) Black 1.8% (12/63) Hawaiian or Pacific Islander 7 2% (45/63) g t500 White 13.1% (52/63) Under 18 population share 14.1% (61/63) a,' moo Over 65 population share 20.3% (36/63) i soo to a1 0 Zoning 1994 #998 2002 2006 2010 2014 2ot8 2022 Single Famdy Homes — Condos 141104 Residential land (acres) 633 (46/63) Single-family home transactions in past year....15 (55/63) Residents per acre of residential Out-of-state buyer share 20.0% (33/63) land 48.3 (05/63) Condominium transactions in past year 262 (11/63) Share of residential land zonedOut-of-state buyer share 11.5% (45/63) multifamily 86.70 (02/66.3 Sm mgle la ly III Multdamiy600 IIBusmen73 1 400 Rental Market 200 Renter share 68.3% (02/63) < 0 Median rent $1,410 (44/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,850 (51/63) Single Family Homes — Condos 3000 zoao -__ Housing Stock Number of housing units 16,711 (14/63) cc woo Median age of housing units ' 50 years (10/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 28 (51/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 6 (12/63) Median permit processing time 444 days (06/47) Median rent paid as share of income 30.1% (34/63) Active short-term vacation rentals (STRs) 124 (25/63) Rent burdened (>30% of income) 50.3% (34/63) STRs as percentage of housing 0 7% (46/63) Severely rent burdened (>50%of income) 26.3% (28/63) 08n Job Access too o e g 0.4 y. Jobs within 30 minutes by... > so m Car 338,545 (08/63) - 02f/) Transit 146,305 (03/63) a 0so ' 0.0 7 a��_T1` 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes -- Maui Zip Codes 68 -- Anahola 96703 UHERO 411 Demographics Property Market (rank) Population 2,844 (58/63) Owner-occupier share 85.7% (02/63) Median household income $79,063 (41/63) Median single-family price $2,150,000 (02/63) College education rate 13.4% (63/63) Median condominium price $447,500 (46/57) Unemployment rate 5 0% (31/63) UHERO Repeat Sales Index 566 (11/63) Racial shares: Median monthly owner costs $1,345 (61/63) Asian 5 9% (59/63) Median owner costs as share of income 18.1% (62/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 43.3% (02/63) 8 2000 White 12.8% (54/63) ,500 Under 18 population share 24.7% (14/63) °; ,000 Over 65 population share 18.5% (41/63) a ro 500 co 0 Zoning 2 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 540 (47/63) Single-family home transactions in past year 8 (61/63) Residents per acre of residential Out-of-state buyer share 62.5% (01/63) land 5 3 (44/63) Condominium transactions in past year 4 (50/63) Share of residential laud zonedOut-of-state buyer share 25.0% (32/63) multifamily 0 0 0 (42/63) 4 0 200 ■Blahs 6 150 C c ca 100 Rental Market 50 Renter share 14.3% (62/63) a o --..--=`' Median rent $1,463 (42/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,920 (46/63) — Single Family Homes — Condos 4000000 , , Housing Stock W 2666.667 1 1933 333 �— Number of housing units 857 (62/63) Median age of housing units 37 years (44/63) 0 00o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 19 (56/63) — Meehan Rent -- Median CraigstistAsidng Rent Multi-family developments 0 (24/63) Median rentpaid as share of income 43.8% 05 63 Median permit processing time 253 days (22/47) ( / ) Active short-term vacation rentals (STRs) 54 (40/63) Rent burdened (>30% of income) 64.6% (08/63) STRs as percentage of housing 6 3% (16/63) Severely rent burdened (>50%of income) 30.4% (21/63) so 0 60 Job Access 4C (n 1C ."1.44 Jobs within 30 minutes by... ;20 2 Car 7,390 (41/63) co Transit 39 (56/63) o 0 4 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 69 Hanapepe 96716 UHERO An<i 'n Demographics Property Market (rank) Population 2,488 (61/63) Owner-occupier share 65.9% (33/63) Median household income $81,547 (38/63) Median single-family price $795,000 (46/63) College education rate 17.7% (58/63) Median condominium price $- (-/57) Unemployment rate 5 5% (28/63) UHERO Repeat Sales Index 800 (02/63) Racial shares: Median monthly owner costs $2,000 (50/63) Asian 52.4% (08/63) Median owner costs as share of income 20.9% (59/63) Black 0 3% (44/63) Hawaiian or Pacific Islander 20.8% (09/63) 8 1500 White 10.3% (57/63) •woo Under 18 population share 19.7% (39/63) Over 65 population share 15.5% (53/63) a c soo Zonin ° g 1994 1998 2002 2006 2010 2014 2016 2022 -R Stogie Fan*Hanes Residential land (acres) 479 (49/63) Single-family home transactions in past year....15 (55/63) Residents per acre of residential Out-of-state buyer share 6.7% (58/63) land 5 2 (45/63) Condominium transactions in past year 0 (58/63) Share of residential laud zonedOut-of-state buyer share 0.0% (56/63) multifamily 0 0% (42/ c 200 SingialarrEf 0 R 50' CO c Co 100 Rental Market 73 so Renter share 34.1% (31/63) = 0 a - — Median rent $1,325 (48/63) 1994 1998 2002 2006 20'0 2014 2018 2022 Median asking rent (Craigslist) $1,950 (44/63) "`°" Single Family Homes — Condos 3000 2000 --,, Housing Stock wooNumber of housing units 870 (61/63) Median age of housing units 32 years (54/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 8 (63/63) — Median Rent -- Medien Crassest Atdo g Rent Multi-family developments 0 (24/63) Median permit processing time 365 days (08/47) Median rent paid as share of income 27.5% (50/63) Active short-term vacation rentals (STRs) 0 (63/63) Rent burdened (>30% of income) 46.0% (46/63) STRs as percentage of housing 0 0% (61/63) Severely rent burdened (>50% of income)....8.5% (61/63) 012 I e oosc Job Access Q o I- 006co cn Jobs within 30 minutes by... Car 9,289 (40/63) o03 Transit 146 (46/63) a u — 0 0o A 1 44 2019 2020 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 74 Princeville 96722 UHERO nalvtic- Demographics Property Market (rank) Population 2,093 (62/63) Owner-occupier share 70.3% (20/63) Median household income $79,922 (40/63) Median single-family price $1,875,000 (04/63) College education rate 50.6% (04/63) Median condominium price $997,000 (10/57) Unemployment rate 8 9% (10/63) UHERO Repeat Sales Index 538 (14/63) Racial shares: Median monthly owner costs $2,893 (12/63) Asian 6 3% (58/63) Median owner costs as share of income 42.4% (01/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 0 0% (63/63) White 70.1% (01/63) E''°° Under 18 population share 22.2% (23/63) ! 10o0 Over 65 population share 29.1% (03/63) Q. 500 Zoning 1 0 Cr t994 1996 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 30 (63/63) Single-family home transactions in past year....31 (48/63) Residents per acre of residential Out-of-state buyer share 58.1% (04/63) land 70.5 (03/63) Condominium transactions in past year 76 (26/63) Share of residential land zoned Out-of-state buyer share 77.6% (05/63) multifamily 0 0 o (42/63) y Sngre•tamey _0 200 N Busmes5 U 150 cn Rental Market '' t00 rti 50 Renter share 29.7% (44/63) Q ° Median rent $1,373 (45/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $6,000 (01/63) "" Single Family Homes -- Condos 6000 4000 Housing Stock 1 2000 ,"-'' Number of housing units 2,671 (43/63) ----- Median age of housing units 37 years (44/63) ° New projects permitted over past five years: 2011 2013 2015 2017 s.. 2023 Single-family homes 37 (47/63) — Median Rent -- Median Craegsirst Asking Rent Multi-family developments 0 (24/63) Median permit processing time 125 days (45/47) Median rent paid as share of income 23.8% (58/63) Active short-term vacation rentals (STRs)... 1,890 (05/63) Rent burdened (>30% of income) 49.1% (38/63) STRs as percentage of housing 70.7% (01/63) Severely rent burdened (>50%of income)...18.5% (51/63) Zoo° ao 0 60= Job Access g0 1000 40.. Jobs within 30 minutes by... 20 ow Car 3,351 (53/63) Transit 206 (42/63) 0 0 . 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 71 Kalaheo 96741 UHEROf1' i ,,,' Demographics Property Market (rank) Population 6,150 (43/63) Owner-occupier share 70.6% (18/63) Median household income $87,536 (22/63) Median single-family price $950,000 (31/63) College education rate 42.9% (09/63) Median condominium price $738,500 (21/57) Unemployment rate 5 6% (27/63) UHERO Repeat Sales Index 493 (19/63) Racial shares: Median monthly owner costs $2,336 (41/63) Asian 19.8% (41/63) Median owner costs as share of income 27.1% (21/63) Black 0 0% (55/63) Q Hawaiian or Pacific Islander 7 8% (42/63) t500 White 39.0% (19/63) 1000 Under 18 population share 22.5% (21/63) Over 65 population share 21.2% (28/63) a. 500 Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 Residential land (acres) — Single Family Homes — Condos 2,926 (22/63) Single-family home transactions in past year....54 (37/63) Residents per acre of residential Out-of-state buyer share 35.2% (15/63) land 2 1 (52/63) Condominium transactions in past year 10 (43/63) Share of residential land zonedOut-of-state buyer share 30.0% (27/63) multifamily 0 0 o (42/63) a o zoo 1 sa to a TOO \ Rental Market l'' \ o Renter share 29.4% (46/63) a o Median rent $1,486 (41/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,400 (25/63) —_ Singes Family Homes — Condos 3000 ♦ 2000 ♦♦ __ . Housing Stock Q woo Number of housing units 2,300 (46/63) Median age of housing units 42 years (29/63) o New projects permitted over past five years: zorl 2013 2015 2017 2019 2021 2023 Single-family homes 95 (27/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 0 (24/63) Median rentpaid as share of income 24.0% 57 63 Median permit processing time 182 days (38/47) ( / ) Active short-term vacation rentals (STRs) 4 (62/63) Rent burdened (>30% of income) 39.3% (57/63) STRs as percentage of housing 0 2% (53/63) Severely rent burdened (>50% of income) 26.2% (29/63) 05# j t0 04= Job Access 0 3 c Jobs within 30 minutes by... 5 _ o zm Car 19,497 (31/63) i co 01 A Transit 420 (36/63) o 00'. 2019 2020 20_ 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 72 Kapa`a 96746 UHEROA'1.,, Demographics Property Market (rank) Population 20,810 (27/63) Owner-occupier share 66.8% (30/63) Median household income $93,188 (17/63) Median single-family price $865,000 (43/63) College education rate 34.0% (24/63) Median condominium price $630,000 (31/57) Unemployment rate 4 7% (35/63) UHERO Repeat Sales Index 506 (17/63) Racial shares: Median monthly owner costs $2,400 (38/63) Asian 24.8% (31/63) Median owner costs as share of income 28.1% (18/63) Black 0 7% (31/63) Hawaiian or Pacific Islander 6 8% (49/63) § t500 White 43.6% (10/63) ii000 Under 18 population share 18.9% (43/63) Over 65 population share 20.8% (30/63) it eoo 410.4 0 r Zoning 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) C7 5,937 (10/63) Single-family home transactions in past year...103 (22/63) Residents per acre of residential Out-of-state buyer share 25.2% (26/63) '` # land 3 5 (47/63) Condominium transactions in past year 85 (25/63) Share of residential land zonedOut-of-state buyer share 70.6% (07/63) multifamily 0 00 (42/63) III Y Cp 300 ■Booms ca c 200 co Rental Market t too Renter share 33.2% (33/63) a o Median rent $1,748 (26/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,450 (24/63) single Family Homes — Condos 3000 w 2000 --. Housing Stock lowNumber of housing units 8,459 (27/63) Median age of housing units 40 years (36/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 143 (23/63) — Medan pent -- Median Cuspate Aiding Rent Multi-family developments 0 (24/63) Median permit processing time 210 days (34/47) Median rent paid as share of income 28.8% (44/63) Active short-term vacation rentals (STRs) 745 (09/63) Rent burdened (>30% of income) 48.1% (41/63) STRs as percentage of housing 8 8% (13/63) Severely rent burdened (>50%of income) 28.0% (25/63) 750 Job Access F 500 5 0 C +n Jobs within 30 minutes by... ; e. 2 s 0 Car 11,060 (39/63) 4 Transit 51 (55/63) 0 0 0 x 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes -- Maui Zip Codes 73 Kekaha 96752 UHEROA ,,, ,'ic• Demographics Property Market (rank) Population 3,214 (54/63) Owner-occupier share 58.7% (49/63) Median household income $74,722 (45/63) Median single-family price $562,500 (53/63) College education rate 16.0% (61/63) Median condominium price $527,750 (36/57) Unemployment rate 0 4% (63/63) UHERO Repeat Sales Index 485 (20/63) Asi shares: 17.6% 45 63 Median monthly owner costs $2,158 (45/63) ( / ) Median owner costs as share of income 30.7% (09/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 26.4% (07/63) $ '500 White 12.9% (53/63) woo Under 18 population share 24.9% (13/63) Over 65 population share 19.0% (40/63) d c 500 Zoning 0 1994 1999 2002 2006 2010 2014 201e 2022 Single FtmWy Halls — Condos Residential land (acres) 517 (48/63) Single-fam — ily home transactions in past year....12 (58/63) Residents per acre of residential Out-of-state buyer share 25.0% (27/63) land 6 2 (41/63) Condominium transactions in past year 2 (51/63) Share of residential ladd zonedOut-of-state buyer share 50.0% (14/63) multifamily 0 0 o (42/63) II�+a• c 200 0 tri ,50 ss in c Co 100 Rental Market j so Renter share 41.3% (15/63) a o —r Median rent $2,066 (11/63) 1994 1998 2002 2006 2010 2014 201e 2022 Median asking rent (Craigslist) $2,500 (20/63) -- Single Family Homes — Condos 3000 Housing Stock 0 ' a,200 moo �s Number of housing units 1,358 (55/63) Median age of housing units 42 years (29/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 9 (62/63) — Median Rent -- Median Cragsest Asking Rent Multi-family developments 0 (24/63) Median permit processing time 203 days (35/47) Median rent paid as share of income 30.9% (31/63) Active short-term vacation rentals (STRs) 35 (48/63) Rent burdened (>30% of income) 53.3% (28/63) STRs as percentage of housing 2 6% (31/63) Severely rent burdened (>50% of income)....3.8% (63/63) i40 I Job Access m 20 Jobs within 30 minutes by... 1 ca Car 3,794 (51/63) tkie. Transit 190 (44/63) o o 2019 2020 2021 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 74 Kilauea 96754 UHEROAn 3 Y', Demographics Property Market (rank) Population 4,111 (49/63) Owner-occupier share 80.2% (07/63) Median household income $85,341 (28/63) Median single-family price $2,282,250 (01/63) College education rate 26.8% (44/63) Median condominium price $2,600,000 (01/57) Unemployment rate 3 5% (52/63) UHERO Repeat Sales Index 578 (09/63) Racial shares: Median monthly owner costs $2,800 (14/63) Asian 20.0% (40/63) Median owner costs as share of income 28.7% (14/63) Black 0 4% (40/63) Hawaiian or Pacific Islander 0 7% (62/63) 8 3000 White 61.9% (02/63) y Under 18 population share 18.2% (49/63) 2000 Over 65 population share 20.4% (35/63) o.t000 1. Zoning ° 1994 1998 2002 2006 2010 2014 2018 2022 ® Swale Family Hanes Condos Residential land (acres) 336 (56/63) Single-family home transactions in past year....16 (54/63) Residents per acre of residential Out-of-state buyer share 62.5% (01/63) land 12.2 (35/63) Condominium transactions in past year 10 (43/63) Share of residential land zonedOut-of-state buyer share 60.0% (09/63) multifamily 0 0 0 (42/63) s.cpe-'army 0 200 ■Business Zi co 150 c co 100 Rental Market .___C,..„.....„,,,...N.._.,_r__„ co so Renter share 19.8% (57/63) a o Median rent $1,836 (20/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $3,000 (04/63) —" Single Family HpR1es — Condos 3000 ,—— /%_ 2000 • Housing Stock i 1 l000 Number of housing units 1,620 (51/63) Median age of housing units 33 years (50/63) 0 New projects permitted over past five years: 2011 2013 2015 a ,, 2021 2023 Single-family homes 40 (46/63) — Median Rent -- Mehan Cra,gsi,st Asking Rent Multi-family developments 0 (24/63) Median permit processing time 273 days (18/47) Median rent paid as share of income 29.3% (39/63) Active short-term vacation rentals (STRs) 53 (41/63) Rent burdened (>30% of income) 45.2% (49/63) STRs as percentage of housing 3 3% (28/63) Severely rent burdened (>50% of income) 22.6% (41/63) so 4= Job Access so 3 y y ,p 2 Jobs within 30 minutes by... 4.44) co Car 5,446 (46/63) i 1 Transit 469 (34/63) o o A 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 75 Koloa 96756 UHEROA,,1,,,, Demographics Property Market (rank) Population 5,939 (44/63) Owner-occupier share 59.3% (48/63) Median household income $81,806 (36/63) Median single-family price $1,242,500 (17/63) College education rate 32.9% (30/63) Median condominium price $792,700 (16/57) Unemployment rate 7 3% (13/63) UHERO Repeat Sales Index 372 (49/63) Racial shares: Median monthly owner costs $2,324 (43/63) Asian 22.6% (35/63) Median owner costs as share of income 29.2% (11/63) Black 0.5% (35/63) Hawaiian or Pacific Islander 7 5% (44/63) 8 t500 White 40.0% (17/63) a loon Under 18 population share 24.1% (15/63) Over 65 population share 22.5% (19/63) a. eoo Zonin ° g 1990 1998 2002 200e 2010 2014 2018 2022 /t�,/ C --- Single Family Homes — Condos Residential land (acres) 2,115 (28/63) Single-family home transactions in past year....70 (34/63) Residents per acre of residential Out-of-state buyer share 55.7% (05/63) y_ l land 2 8 (50/63) Condominium transactions in past year 112 (21/63) Share of residential land zo Out-of-state buyer share 82.1% (03/63) multifamily 0 0 o (42/3) Single famtry CC 200 II Business R 150 H C 100 Rental Market To so Renter share 40.7% (16/63) a 0 Median rent $1,341 (47/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1.800 (52/63) — Single Famik N0n1°6 — Condos 3000 w 2000 _ _ Housing Stock 1 woo `' Number of housing units 3,465 (38/63) Median age of housing units 42 years (29/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 151 (21/63) — Medan Rent -- Median Crawled Asking Rent Multi-family developments 24 (05/63) Median permit processing time 202 days (36/47) Median rent paid as share of income 35.5% (13/63) Active short-term vacation rentals (STRs) ... 1,534 (06/63) Rent burdened (>30% of income) 55.9% (25/63) STRs as percentage of housing 44.3% (02/63) Severely rent burdened (>50%of income)...27.7% (26/63) ae o z 40_ x Job Access o ,000 y Jobs within 30 minutes by... m 2010 Car 19,277 (33/63) Transit 2,719 (18/63) tiMeet 0 0 7r 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Maui Zip Codes 76 Lihu`e 4. 96766 UHERO all Demographics Property Market (rank) Population 17,420 (31/63) Owner-occupier share 61.5% (41/63) Median household income $84,539 (29/63) Median single-family price $732,500 (48/63) College education rate 26.3% (47/63) Median condominium price $500,000 (39/57) Unemployment rate 2 5% (60/63) UHERO Repeat Sales Index 416 (38/63) Racial shares: Median monthly owner costs $2,650 (25/63) Asian 47.3% (15/63) Median owner costs as share of income 27.0% (25/63) Black 1 0% (24/63) Hawaiian or Pacific Islander 7 0% (47/63) a t500 White 15.0% (49/63) 1000 Under 18 population share 21.8% (28/63) Over 65 population share 19.5% (38/63) a 500 c Zoning ° 1994 1598 2002 2006 2010 2014 2018 2022 Single Fanuy Homes Condos Residential land (acres) C\---- 3,221 (18/63) Single-family home transactions in past year....80 (30/63) Residents per acre of residential Out-of-state buyer share 30.0% (18/63) `*. Qr' land 5 4 (42/63) Condominium transactions in past year 63 (28/63) Share of residential land zonedOut-of-state buyer share 28.6% (28/63) multifamily 49.8% (06/ ) c aoo Sng a lamiry.Muatamay O . Bus.ness .5 300 H c <0 200 Rental Market - 100 Renter share 38.5% (23/63) a 0 Median rent $1,531 (37/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,200 (31/63) i Single Family Homes — Condos 3000 2000 — Housing Stock ow t. Number of housing units 5,437 (33/63) cc lMedian age of housing units 37 years (44/63) o New projects permitted over past five years: zoi l zo13 2015 20n 2019 2021 2023 Single-family homes 294 (09/63) — Median Rent -- Median CrMosist Asking Rant Multi-family developments 7 (10/63) Median permit processing time 166 days (41/47) Median rent paid as share of income 31.3% (30/63) Active short-term vacation rentals (STRs) 301 (19/63) Rent burdened (>30% of income) 52.7% (29/63) STRs as percentage of housing 5 5% (20/63) Severely rent burdened (>50% of income) 30.9% (18/63) 400 6 p o I Job Access 200 4 g e. Jobs within 30 minutes by... z`° Car 22,090 (30/63) Transit 4,602 (16/63) .4044o o� 2019 2020 2023 77 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes ` `' -- � Ha iku `-Pa uwela 96708 UHEROAH,,.Ync' Demographics Property Market (rank) Population 11,213 (34/63) Owner-occupier share 59.8% (46/63) Median household income $85,941 (25/63) Median single-family price $1,237,500 (18/63) College education rate 29.8% (33/63) Median condominium price $1,100,000 (06/57) Unemployment rate 6 0% (23/63) UHERO Repeat Sales Index 511 (16/63) Racial shares: Median monthly owner costs $2,482 (33/63) Asian 9 0% (56/63) Median owner costs as share of income 32.0% (03/63) Black 0 2% (46/63) Hawaiian or Pacific Islander 6 6% (51/63) $ t500 White 58.6% (03/63) w woo Under 18 population share 23.6% (16/63) & Over 65 population share 17.1% (46/63) soo , Zoning0 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 166 (60/63) Single-family home transactions in past year....52 (38/63) Residents per acre of residential Out-of-state buyer share 26.9% (23/63) land 67.6 (04/63) Condominium transactions in past year 23 (37/63) Share of residential land zonedOut-of-state buyer share 21.7% (37/63) s,ngte.lan Iy multifamily 0 00 (42/63) c 200 ■B mness O 0 ISl) o El 100 Rental Market Renter share 40.2% (18/63) < 0 Median rent $2,032 (13/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,475 (23/63) - Single Family Hones — Condos 3000 2000 _.- Housing Stock l000 Number of housing units 4,552 (35/63) Median age of housing units 35 years (48/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes' 213 (13/63) — Median Rend -- Median Gepeyti„g Rent Multi-family developments 0 (24/63) Median permit processing time 158 days (43/47) Median rent paid as share of income 28.2% (46/63) Active short-term vacation rentals (STRs) 114 (26/63) Rent burdened (>30% of income) 47.0% (44/63) STRs as percentage of housing 2 5% (33/63) Severely rent burdened (>50% of income) 15.7% (54/63) _H1so ae 30 c Job Access Q 100 2 g I- (Ti Cl) j Jobs within 30 minutes by... ; so 1 o Car 6,688 (43/63) lir ,.., Transit 94 (49/63) a 0 7 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes _— 78 Kahului 96732 UHERO,.,',i ,',; Demographics Property Market (rank) Population 26,361 (23/63) Owner-occupier share 64.2% (37/63) Median household income $85,890 (26/63) Median single-family price $909,500 (37/63) College education rate 26.0% (48/63) Median condominium price $259,000 (54/57) Unemployment rate 4 7% (35/63) UHERO Repeat Sales Index 437 (31/63) Racial shares: Median monthly owner costs $2,460 (34/63) Asian 59.1% (04/63) Median owner costs as share of income 28.0% (19/63) Black 0 7% (31/63) Hawaiian or Pacific Islander 10.2% (29/63) 8 t Soo White 9 2% (61/63) woo Under 18 population share 20.9% (33/63) Over 65 population share 19.1% (39/63) a. �o c i Zoning 2 0 ,994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) .w . 976 (41/63) Single-family home transactions in past year...103 (22/63) Residents per acre of residential Out-of-state buyer share 17.5% (38/63) land 27.0 (12/63) Condominium transactions in past year 60 (30/63) Share of residential land zo Out-of-state buyer share 13.3% (43/63) multifamily 2 20 (32/63) y sngb.tamay■WManWy C 0 IIBuenas R 200 C R Rental Market ~ ,00 To Renter share 35.8% (27/63) a o Median rent $1,360 (46/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,550 (19/63) Single Family Homes — Condos 3000 Housing Stock t000 Number of housing units 8,466 (26/63) Median age of housing units 45 years (22/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 133 (24/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 2 (18/63) Median permit processing time 278 days (15/47) Median rent paid as share of income 26.0% (52/63) Active short-term vacation rentals (STRs) 58 (39/63) Rent burdened (>30% of income) 42.2% (55/63) STRs as percentage of housing 0 7% (46/63) Severely rent burdened (>50% of income) 22.6% (41/63) a io7s2 Job Access i o y Jobs within 30 minutes by... �,i 0 2s Car 41,930 (22/63) jr6 m. Transit 7,991 (13/63) 0 0 00 A 2019 2020 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes 79 Kaunakakai 96748 UHERO idli Demographics Property Market (rank) Population 4,251 (48/63) Owner-occupier share 60.9% (43/63) Median household income $56,111 (59/63) Median single-family price $440,000 (56/63) College education rate 21.7% (53/63) Median condominium price $217,450 (56/57) Unemployment rate 10.8% (07/63) UHERO Repeat Sales Index 326 (58/63) Racial shares: Median monthly owner costs $2,057 (49/63) Asian 9 0% (56/63) Median owner costs as share of income 31.1% (05/63) Black 0 6% (34/63) Hawaiian or Pacific Islander 35.4% (04/63) $t S00 White 18.3% (45/63) 4 woo Under 18 population share 29.5% (05/63) Over 65 population share 22.5% (19/63) a. 500 Zonin 0 g 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 36 (62/63) Single-family home transactions in past year....37 (45/63) Residents per acre of residential Out-of-state buyer share...) 18.9% (34/63) --� land 117.1 (01/63) Condominium transactions in past year 15 (41/63) s.gk arodv an Share of residential land zoned Out-of-state buyer share 73.3% (06/63) ■ BuS bss multifamily 54.5% (05/63) 200 oc 0 i 150 C C 16 100 Rental Market Renter share 39.1% (21/63) a 0 Median rent $828 (62/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $1,900 (47/63) Single Fan*Homes — Condos 3000 Housing Stock in 2000 , o `s„ Number of housing units 2,139 (47/63) cc moo Median age of housing units 45 years (22/63) ° New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 49 (41/63) — man Rent -- Media„Granola Asking Rent Multi-family developments 0 (24/63) Median permit processing time 163 days (42/47) Median rent paid as share of income 51.0% (01/63) Active short-term vacation rentals (STRs) 111 (28/63) Rent burdened (>30% of income) 79.6% (01/63) STRs as percentage of housing 5 2% (22/63) Severely rent burdened (>50%of income) 50.2% (02/63) 8 ae p150 0 s Job Access E 1m (A 1. Jobs within 30 minutes by... 1 50 2 co Car 1,108 (58/63) Transit 61 (54/63) `..� o o fr 2019 2020 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes 80 Kihei c 96753 UHERO 06 Demographics Property Market (rank) Population 29,547 (21/63) Owner-occupier share 61.3% (42/63) Median household income $83,322 (34/63) Median single-family price $1,375,000 (13/63) College education rate 35.1% (22/63) Median condominium price $1,177,500 (05/57) Unemployment rate 6 3% (18/63) UHERO Repeat Sales Index 474 (23/63) Racial shares: Median monthly owner costs $2,603 (29/63) Asian 20.7% (39/63) Median owner costs as share of income 27.1% (21/63) Black 0 8% (29/63) Hawaiian or Pacific Islander 3 6% (58/63) § t500 White 52.2% (05/63) woo Under 18 population share 17.5% (53/63) Over 65 population share 20.5% (33/63) t soo Zoning 0 1994 1998 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) '..S‘ 2,295 (26/63) Single-family home transartions in past year...125 (18/63) Residents per acre of residential Out-of-state buyer share 48.0% (06/63) land 12.9 (33/63) Condominium transartions in past year 674 (03/63) Share of residential land zoned Out-of-state buyer share 44.7% (19/63) multifamily 37.9 o (08/63) S,ngb-famory■Muaiamay C 0 ■ Bowen1 D00 C Rental Market = 500 Renter share 38.7% (22/63) a o Median rent $1,886 (18/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,800 (10/63) — Singes Fandy Homes — Condos 3000 •_ / Housing Stock y2000 � ��/ cz 1000 �� Number of housing units 18,355 (11/63) Median age of housing units 37 years (44/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 221 (11/63) — Median Rent -- Median Grapiest Asking Rent Multi-family developments 93 (02/63) Median permit processing time 250 days (23/47) Median rent paid as share of income 39.0% (10/63) Active short-term vacation rentals (STRs) ...4,412 (03/63) Rent burdened (>30% of income) 63.8% (09/63) STRs as percentage of housing 24.0% (05/63) Severely rent burdened (>50% of income)...35.5% (09/63) 6000 30 at Job Access 400° 20 Jobs within 30 minutes by... 12000 100 Car 42,217 (21/63) o Transit 5,011 (15/63) o s 2019 2020 2021 2022 81 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes -- Lahaina 96761 uHERoilill Demographics Property Market (rank) Population 23,473 (25/63) Owner-occupier share 56.0% (50/63) Median household income $90,000 (21/63) Median single-family price $1,700,000 (07/63) College education rate 27.6% (43/63) Median condominium price $840,000 (11/57) Unemployment rate 6 9% (15/63) UHERO Repeat Sales Index 447 (28/63) Racial shares: Median monthly owner costs $2,975 (09/63) Asian 26.0% (29/63) Median owner costs as share of income 27.1% (21/63) Black 0 2% (46/63) 2000 Hawaiian or Pacific Islander 8 8% (36/63) 8 j\P White 38.8% (20/63) y'500 Under 18 population share 23.3% (17/63) i moo Over 65 population share 16.9% (47/63) c 500 Zoning 0 O 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) 1,870 (33/63) Single-family home transactions in past year....79 (32/63) Residents per acre of residential Out-of-state buyer share 39.2% (11/63) land 12.6 (34/63) Condominium transactions in past year 411 (05/63) Share of residential land zo Out-of-state buyer share 67.4% (08/63) multifamily 19.8% (12/63) -- Segle tee■Mu4+444y c 1000 F750 600 Rental Market 250 Renter share 44.0% (14/63) a 0 Median rent $1,810 (22/63) 1994 1996 2002 2006 2010 20)4 2018 2022 Median asking rent (Craigslist) $3,000 (04/63) — Single Family Homes — Condos 3000 -- i• w 2000 Housing Stock CC 1000 Number of housing units 11,730 (24/63) Median age of housing units 43 years (27/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 342 (06/63) — Median Rent -- Medlar Craigslist Rent Multi-family developments 35 (03/63) Median permit processing time 298 days (12/47) Median rent paid as share of income 30.9% (31/63) Active short-term vacation rentals (STRs) ...4,694 (02/63) Rent burdened (>30% of income) 51.7% (33/63) STRs as percentage of housing 40.0% (03/63) Severely rent burdened (>50%of income)...26.2% (29/63) 40 of Access 4000 30 ` `G Jobs within 30 minutes by... ( 2000 20 5 Car 17,462 (37/63) i092 Transit 4 (60/63) 0 0 A 2019 2020 2021 2022 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes 82 Lanai City 96763 UHERO,", , ,',: Demographics Property Market (rank) Population 3,126 (56/63) Owner-occupier share 55.5% (52/63) Median household income $61,884 (57/63) Median single-family price $720,000 (49/63) College education rate 27.8% (42/63) Median condominium price $760,000 (19/57) Unemployment rate 1 4% (62/63) UHERO Repeat Sales Index 467 (26/63) Racial shares: Median monthly owner costs $1,950 (52/63) Asian 53.4% (07/63) Median owner costs as share of income 19.5% (61/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 10.8% (26/63) § t500 White 15.5% (47/63) 1000 Under 18 population share 18.9% (43/63) Over 65 population share 22.8% (17/63) & 0 c 50 Zonin 0 g 1994 1998 2002 2006 2010 tote 2018 2022 — Single Family Homes — Condos Residential land (acres) 167 (59/63) Single-family home transactions in past year....13 (57/63) Residents per acre of residential Out-of-state buyer share 15.4% (42/63) 1 • land 18.7 (20/63) Condominium transartions in past year 7 (48/63) ' Share of residential land zonedOut-of-state buyer share 28.6% (28/63)_ multifamily 12.1% (20/63) Soy ta* mey■Mmif ulefay 200 0 ■Business R f50 N c 2 100 Rental Market 73 so Renter share 44.5% (12/63) c o Median rent $1,049 (57/63) 1994 1998 2002 2008 2010 2014 2018 2022 Median asking rent (Craigslist) $1,858 (50/63) — 8ingis Famiy Hones — Condos 3000 Housing Stock v^,2000 co woo Number of housing units 1,563 (52/63) Median age of housing units 45 years (22/63) 0 New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 62 (37/63) — Median Rent -- Median Cringe*Asking Rent Multi-family developments 0 (24/63) Median permit processing time 244 days (25/47) Median rent paid as share of income 17.3% (62/63) Active short-term vacation rentals (STRs) 10 (59/63) Rent burdened (>30% of income) 15.8% (63/63) STRs as percentage of housing 0 7% (46/63) Severely rent burdened (>50%of income)....9.5% (60/63) 1.5 0 i 20 0 Job Access '°c 0Jobs within 30 minutes by... ;it) son Car 1,283 (57/63) a .4 E Transit 711 (32/63) o o o5 2019 2022 2023 83 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Pukalani 96768 UHERO Anal nc- Demographics Property Market (rank) Population 18,497 (29/63) Owner-occupier share 68.1% (27/63) Median household income $101,070 (11/63) Median single-family price $903,007 (38/63) College education rate 33.4% (27/63) Median condominium price $1,055,000 (08/57) Unemployment rate 3 2% (55/63) UHERO Repeat Sales Index 356 (53/63) Racial shares: 24.6% 33 63 Median monthly owner costs $2,652 (24/63) A ( / ) Median owner costs as share of income 24.5% (48/63) Black 0.4% (40/63) Hawaiian or Pacific Islander 9 2% (34/63) § 1500 White 35.5% (23/63) -1000 Under 18 population share 19.7% (39/63) Over 65 population share 18.5% (41/63) 500 Zoning 1 0 1994 1996 2002 2006 2010 2014 2018 2022 — single Panty Homes — Condos Alior Residential land (acres) 1,151 (39/63) Single-family home transactions in past year....73 (33/63) Residents per acre of residential Out-of-state buyer share 20.5% (32/63) land 16.1 (27/63) Condominium transactions in past year 42 (32/63) Share of residential land zo Out-of-state buyer share 40.5% (22/63) multifamily 4 4% (29/663 rn 5mgk•.tamiyIII 1.1u51danwp Co 200 ■Business ,0 150 C Rental Market `- too 150 Renter share 31.9% (37/63) o Median rent $1,684 (29/63) 1994 1998 2002 2006 2010 2014 2016 2022 Median asking rent (Craigslist) $2,600 (14/63) — s0gleFamiyHomes — Co1dos 3000 '- Housing Stock a2000 -----• et Iwo Number of housing units 6,613 (31/63) Median age of housing units 42 years (29/63) o New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 174 (17/63) — Median Rent -- Median Cragskst Asking Rent Multi-family developments 1 (20/63) Median permit processing time 180 days (39/47) Median rent paid as share of income 28.0% (47/63) Active short-term vacation rentals (STRs) 39 (47/63) Rent burdened (>30%of income) 45.7% (47/63) STRs as percentage of housing 0 6% (50/63) Severely rent burdened (>50% of income) 24.1% (34/63) 40 060 Job Access flab Jobs within 30 minutes by... 20iCar 36,015 (25/63) 02 4 Transit 412 (38/63) 0 0 0 2010 2023 84 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Pa`ia 96779 UHER0411 Demographics Property Market (rank) Population 2,579 (59/63) Owner-occupier share 69.3% (24/63) Median household income $113,025 (06/63) Median single-family price $978,327 (29/63) College education rate 35.7% (21/63) Median condominium price $800,000 (15/57) Unemployment rate 10.1% (08/63) UHERO Repeat Sales Index 534 (15/63) Racial shares: Median monthly owner costs $2,631 (26/63) Asian 14.0% (50/63) Median owner costs as share of income 27.1% (21/63) Black 0 0% (55/63) Hawaiian or Pacific Islander 17.6% (10/63) 8 1500 White 50.8% (06/63) y Under 18 population share 17.8% (52/63) B 1000 Over 65 population share 14.7% (55/63) Zoning ° g 1994 1998 2002 2006 2010 2014 2018 2022 Single Family Homes — Condos Residential land (acres) "� 286 (58/63) Single-family home transactions in past year....26 (51/63) Residents per acre of residential Out-of-state buyer share 23.1% (29/63) land 9 0 (38/63) Condominium transactions in past year 13 (42/63) Share of residential land zo Out-of-state buyer share 15.4% (40/63) multifamily 0 4% (38/63) c 200 smgb.ramry.Mlwamy 0 .Busmen i 150 N r7 100 Rental Market Renter share 30.7% (40/63) a 0 ! Median rent $2,271 (07/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $3,000 (04/63) — Single Family Homes — Condos 4000 000 - Housing Stock w 2666 667 Q 1333333 Number of housing units 1,118 (60/63) Median age of housing units 39 years (42/63) 0 00o New projects permitted over past five years: 2011 2013 2015 2017 2019 202' 2023 Single-family homes 19 (56/63) — Median Rent -- Median Cragslis1 Asking Rent Multi-family developments 0 (24/63) Median permit processing time 228 days (30/47) Median rent paid as share of income 27.7% (49/63) Active short-term vacation rentals (STRs) 97 (31/63) Rent burdened (>30% of income) 43.6% (52/63) STRs as percentage of housing 8 7% (14/63) Severely rent burdened (>50% of income) 35.4% (10/63) e a too 9O Job Access 6 Jobs within 30 minutes by... 50 3 w Car 40,031 (23/63) Of i Transit 1,279 (25/63) o o 2019 2020 2021 2022 2023 85 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes Kula 96790 UHEROall Demographics Property Market (rank) Population 9,375 (36/63) Owner-occupier share 68.7% (25/63) Median household income $87,262 (23/63) Median single-family price $1,450,000 (12/63) College education rate 38.5% (16/63) Median condominium price $1,337,500 (04/57) Unemployment rate 6 8% (16/63) UHERO Repeat Sales Index 413 (40/63) Racial shares: Median monthly owner costs $3,039 (08/63) Asian 15.4% (47/63) Median owner costs as share of income 29.2% (11/63) Black 0 1% (53/63) Hawaiian or Pacific Islander 13.0% (18/63) § 1500 White 48.4% (07/63) E moo Under 18 population share 21.7% (30/63) Over 65 population share 20.7% (31/63) c soo Zoning 1 0 1994 1998 2002 2006 2010 2014 2018 2022 --. Sings Family Homes — Condos Residential land (acres) 128 (61/63) Single-family home transactions in past year....55 (36/63) Residents per acre of residential Out-of-state buyer share 21.8% (31/63) land 73.0 (02/63) Condominium transactions in past year 18 (39/63) Share of residential land zoned Out-of-state buyer share 27.8% (30/63) multifamily 0 0 0 (42/3) Single family 0 2000 ■Business t 150 'AI 7 too Rental Market To 50 Renter share 31.3% (39/63) & 0 "''J_. Median rent $1,719 (28/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,300 (27/63) Single Family Homes — Condos 3000 , Housing Stock a 2000 "'%t000 f Number of housing units 3,573 (37/63) cc Median age of housing units 40 years (36/63) 0 New projects permitted over past five years: 2011 2013 2015 20 1 4 zoz, 2023 Single-family homes 160 (20/63) — Median Rent -- Median Craigslist Asking Rent Multi-family developments 0 (24/63) Median permit processing time 180 days (40/47) Median rent paid as share of income 34.8% (17/63) Active short-term vacation rentals (STRs) 28 (53/63) Rent burdened (>30% of income) 63.2% (11/63) STRs as percentage of housing 0 8% (45/63) Severely rent burdened (>50% of income) 33.9% (14/63) 1 25 ae 1 000 r° Job Access 0 75 0 502 Jobs within 30 minutes by... Car 17,566 (35/63) 1 i CD o zs Transit 1,492 (24/63) o 000" 2019 2021 2023 State Counties Big Island Zip Codes Honolulu Zip Codes Kauai Zip Codes 86 • Wailuku 96793 UHEROfil Demographics Property Market (rank) Population 32,749 (18/63) Owner-occupier share 70.5% (19/63) Median household income $96,695 (16/63) Median single-family price $885,000 (40/63) College education rate 26.6% (45/63) Median condominium price $650,000 (29/57) Unemployment rate 4 9% (33/63) UHERO Repeat Sales Index 406 (41/63) Racial shares: Median monthly owner costs $2,378 (40/63) Asian 32.8% (23/63) Median owner costs as share of income 25.5% (38/63) Black 1 5% (16/63) Hawaiian or Pacific Islander 15.0% (15/63) § t500 White 19.3% (44/63) `►1000 Under 18 population share 25.0% (12/63) Over 65 population share 16.4% (49/63) a. sao f Zoning ° 1994 1996 2002 2006 2010 2014 2018 2022 — Single Family Homes — Condos Residential land (acres) 1,077e (40/63) Single-family home transactions in past year...126 (17/63) Residents per acre of residential Out-of-state buyer share 15.1% (44/63) land 30.4 (09/63) Condominium transactions in past year 141 (19/63) Share of residential land zoned Out-of-state buyer share 40.4% (23/63) multifamily 3 4 0 (30/63 Sngie-ianuy■Muadamay O 400 ■flue ness co 300 H C M 200 Rental Market t 100 Renter share 29.5% (45/63) .& o Median rent $1,531 (37/63) 1994 1998 2002 2006 2010 2014 2018 2022 Median asking rent (Craigslist) $2,600 (14/63) — Singh,Fartrly Homes — Condos 3000 moo • - Housing Stock 1 1000 Number of housing units 11,119 (25/63) Median age of housing units 33 years (50/63) ° New projects permitted over past five years: 2011 2013 2015 2017 2019 2021 2023 Single-family homes 473 (05/63) — Median Rent -- Median CraigslistAsking Rent Multi-family developments 9 (09/63) Median permit processing time 127 days (44/47) Median rent paid as share of income 35.4% (14/63) Active short-term vacation rentals (STRs) 472 (10/63) Rent burdened (>30%of income) 60.2% (16/63) STRs as percentage of housing 4 2% (25/63) Severely rent burdened (>50% of income) 31.6% (17/63) 4Job Access ado 3 2 Jobs within 30 minutes by... �� Car 38,955 (24/63) ' Transit 10,878 (12/63) o 0 2019 2020 2021 2022 2023 U H RO THE ECONOMIC RESEARCH ORGANIZATION AT THE UNIVERSITY OF HAWAI`1 UHERO THANKS THE FOLLOWING Chamber of Commerce SUPPORTERS: Halekulani Corporation Hawaii Gas KA WEKIU - THE TOPMOST SUMMIT Hawaii Hotel Alliance Bank of Hawaii Hawaiian Dredging Construction Company DGM Group HGEA First Hawaiian Bank Honolulu Board of Water Supply Hawaii Business Roundtable The Howard Hughes Corporation Hawaii Community Foundation HPM Building Supply HMSA Kaiser Permanente Hawaii Kamehameha Schools Nordic PCL Construction Queen's Health Systems Servco Pacific,Inc. KILOHANA - A LOOKOUT, HIGH POINT United Public Workers American Savings Bank ADDITIONAL SUPPORTERS Benjamin Godsey Architects Hawaii,Ltd. Castle Foundation Charles Wathen Company(Pier Investments) Central Pacific Bank Chartwell Financial Advisory D.R.Horton Finance Factors First Insurance Company of Hawaii,Ltd. Foodland Super Market,Ltd. Hawaii Pacific Health The Hawaii Laborers&Employers Cooperation Hawaiian Airlines and Education Trust Fund Hawaiian Electric Industries Hawaii National Bank Island Holdings,Inc. Hawaii Tourism Authority Matson HC&D,LLC Stanford Carr Development Honolulu Board of Realtors KUAH I W I - A HIGH HILL, MOUNTAIN The Natural Energy Laboratory of Hawaii Authority Pacific Cost Engineering Alexander&Baldwin The Pacific Resource Partnership Better Homes and Gardens Real Estate Advantage Realty Trinity Investments Castle&Cooke Hawaii Kulia I Ka Nuu(literally"Strive for the summit")is the value of achievement,those who pursue personal excellence.This was the motto of Hawaii's Queen Kapiolani.Supporters help UHERO to continually reach for excellence as the premier organization dedicated to rigorous,independent economic and policy research on issues that are both central to Hawaii and globally relevant. Over its more than twenty year history,UHERO research has informed decision making on some of the most important issues facing our community,including the ever-changing economic outlook,challenges to our environment,and policies affecting water,housing,energy,and many other areas. Contributions from generous supporters like you make it possible for UHERO to fulfill this mission.Your financial commitment also allows us to distribute UHERO forecast reports to all Hawaii stakeholders.