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No but the point of 1/4 of the housing owned by people who don't live on Hawai'i is. And other links on this thread. Of course you overlooked that this isn't a beef on the upper class. I know a lot who care about others etc. But continue denial of the issue and supporting ideals and a system who continues to support the current cycles are just begging for more of the same.
Of course one could have one hundred articles and studies supporting something your group doesn't believe in or support and it would be poo-pooed away with something so frivolous as "you don't live here" despite that the reason you bring up evidence or news reports etc is to prove its not just you saying something or your opinion. What's wacky is most of the stuff linked is from people who are living on island outside of CDF Hawaii or people's narratives here
First, I don't have a "group" and don't belong to a group. Second, I do feel Oahu is overdeveloped with sprawl and needs limits. Third, I think the local politicians are mostly to blame for this.
But most importantly, in the past I have suggested steps the government could take to reduce foreign and mainland demand for housing on Oahu. But with respect to the specific suggestion in this thread that low property taxes drive demand from mainland and foreigners... I just don't buy that and changing the property taxes won't change anything.
When I left the island I rented my unit to a long term local resident. And it's at below market rent. It's not housing taken away from locals.
If you can afford a $1,000,000+ second home then property taxes are likely the least of your problems.
I linked that article in response to a post stating that out of state buyers had very little to do with the rising prices of real estate in the islands.
Au contraire, I believe out of state buyers are a major factor in the escalating prices.
How many locals can afford million dollar homes? How many mainlanders can afford million dollar homes?
Not many. I think the point about property taxes is that they could be getting a lot more, from the deep pockets buying those high priced second homes.
Another article from a link inside the one you're commenting on:
"U.S. Mainlanders and foreign citizens bought more than a quarter of the homes sold in the islands since 2008, according to a state report. Even more staggering: Nearly 47 percent of Neighbor Island homes were sold to out-of-state residents over the same period.
The report sheds new light on the state’s hot housing market, where demand is far outstripping supply and driving up home prices...."
If, or how, these stats are distinguishing between Oahu and other islands is somewhat vague.
"... Hawaii has the lowest property tax rates in the country, and the Honolulu City Council is aiming to keep them that way for the upcoming fiscal year.
On the surface, that sounds good to homeowners. But could Hawaii's low property taxes actually be a bad thing?
That's what social service providers are arguing. Here's why: "Our low property taxes result in more non-residents investing in real estate, driving up prices for people who live here," said Gavin Thornton, co-director of the Hawaii Appleseed Center for Law and Economic Justice.
Roughly one fourth of all housing in the islands is owned by people who don't live here.
"That is a quarter of the housing pie that is missing for a community that's starving for affordable housing," Thornton said.
Between 2008 and mid-2015 about 16 percent of Oahu homes have been purchased by mainlanders (12 percent) and foreign citizens (4 percent).
Key word - "purchased"
In terms of actual number of properties on Oahu owned by non-residents, the number is actually 6%. The Big Island (with the MOST affordable homes) is about 22% owned by non-residents. And about 10% on Maui.
And nobody ever mentions that long-time locals have benefited quite nicely from increased home values over time. I have many multi-generational local friends that have become quite wealthy due to their families' homes appreciating over many decades.
Locals should never sell their properties. If they do, they need to understand home ownership may be very difficult or impossible in the future.
Locals should never sell their properties. If they do, they need to understand home ownership may be very difficult or impossible in the future.
Right. And then there are those who rent, rather than own.
They constitute a larger percentage than is found in most parts of the US, and on average they are paying a
very high percentage of their income on rent.
Right. And then there are those who rent, rather than own.
They constitute a larger percentage than is found in most parts of the US, and on average they are paying a
very high percentage of their income on rent.
There will always be a high percentage of renters in a high COL area. This same phenomena exists everywhere on the planet.
Having said that, locals sell ALL the time. The majority of homes listed today (obviously not including new developments) are owned by long time locals. Some homes are multi-generational and up for sale.
And there are many more local landlords than transplant or foreigner landlords on Oahu. Not sure how it is on the outer islands but locals own the overwhelming majority of rentals in Honolulu.
Hi I'm new here and don't mean to cause waves. It just appears you have something going on here. I read this whole thread and it appears on one hand you guys are trying to convince others that the issues of Hawai'i are not unique that other places in the world and country experience the same things? Then at other times your trying to establish and maintain some form of authority or mastery over knowledge about Hawai'i because of your resident status despite just claiming no uniqueness. I'm confused. Did I miss the memo?
Anyway, I wantted to add to this discussion that a recent study found that only 52% of residents in Hawai'i are born on island. That would kinda support what Blind Cleric and some other posters theories.
This is someone elses sandbox so I don't want to ruffle anyone's feathers. But the unique complexies of the social dynamics of Hawai'i residents lol
I think most posters sans viper consider Hawaii unique.
(I find other locals unique also, for different reasons)
I was not born here so I fall into your demographics. Been here for over 30 years though.
We are different people with different opinions.... ya know. Like anywhere.
A lot of our keiki go to the mainland after college or during. I have 2 nephews living on the mainland. Because they were priced our of Paradise? Nope. Because they mainland is where they want to be or where the job is that they love.
Like others, they will probably come back when they are older and start having kids.
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Anyway, I wantted to add to this discussion that a recent study found that only 52% of residents in Hawai'i are born on island. That would kinda support what Blind Cleric and some other posters theories.
That didn't take long HBH.
Anyway, about 18% of Hawaii is foreign born and 10% military personnel and their families. Take that away and its one of the highest "local" born in the US
I think most posters sans viper consider Hawaii unique.
(I find other locals unique also, for different reasons)
I was not born here so I fall into your demographics. Been here for over 30 years though.
We are different people with different opinions.... ya know. Like anywhere.
A lot of our keiki go to the mainland after college or during. I have 2 nephews living on the mainland. Because they were priced our of Paradise? Nope. Because they mainland is where they want to be or where the job is that they love.
Like others, they will probably come back when they are older and start having kids.
Mahalo for your response, I agree Hawai'i is a wonderful unique place.
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