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Here's what no one is saying. When you create a rich persons paradise it raises everyone's rent and cost of living period. I don't buy the paradise argument or the supply and demand argument. Any undesirable place can be made intio a rich, yuppy paradise. Good example is Portland and now kakaako..
Portland is/was undesirable? Not in my life, IMO.
I don't see "Yuppies" as the problem, or the stereotype of them being selfish as necessarily accurate. What are they expected to do, besides work and pay their taxes?
Real estate speculation, couple with wealthy, non working folks buying up properties is more likely responsible for the high cost of housing.
Real estate speculation, couple with wealthy, non working folks buying up properties is more likely responsible for the high cost of housing.
Or, perhaps because Oahu is a 20 by 40 mile island with a million people in the middle of the Pacific ocean and much of it not habitable due to mountains, making buildable land for homes a scarce resource.
Or, perhaps because Oahu is a 20 by 40 mile island with a million people in the middle of the Pacific ocean and much of it not habitable due to mountains, making buildable land for homes a scarce resource.
And the government owning a huge portion of it.
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Here's what no one is saying. When you create a rich persons paradise it raises everyone's rent and cost of living period. I don't buy the paradise argument or the supply and demand argument. Any undesirable place can be made intio a rich, yuppy paradise. Good example is Portland and now kakaako.
I appreciate both you gentlemans opinions. But I also have to acknowledge that both of you gentleman are also involved in the tourism trade and rental housing markets so your point of views are understandable. Mahalo for your time and commitment to the forum even if we might not agree in issues.
I agree that many natives and long-time locals will suffer from the increased COL created by the inherent desirability of our islands and its attraction to millions across the world. It is a sad and depressing byproduct of any evolving/advancing society.
If you read my previous posts (over the last ~decade) you will see that I am a strong advocate of affordable housing and affordable rentals (virtually all of my own rentals are considered affordable). But at the end of the day, these ultra high end condos and houses (mostly acquired by outsiders) are good for the local people. They're not good - they're great. They bring construction and forever ongoing operations and maintenance jobs and massively increase the tax base. The wealthiest are the ones that are actually subsidizing a first world (arguable by some) living standard for the people of Oahu.
People that grumble about the wealthy and the "greed" of the wealthy should focus their hatred toward our wasteful incompetent government. For what they take in (a majority of which comes from the wealthy) they spend it like a bunch of drunken sailors.
True - the state owns 86,000 acres followed by the feds at 60,000 acres.
To put that in perspective, the entire island is about 400,000 acres.
Even in Waikiki, the Feds are largest landowner with 70 acres followed by the Hilton at 20 some acres.....
Again another slight of hand trick with words. Yes majority of the government owns most of the land but held in trust. But that doesn't mean it's just sitting empty? Majority of the land in Oahu especially has been leased out to the military and private corporations like big box stores and other business or developers.
I think the main government entity that leases retail land is DHHL, which is smart, they can make money to self fund and to provide more services.
When you lease land to homeowners for a dollar a year you need to do some financial offsets.
Not sure about the held in trust part? Are you talking about DHHL? Who holds the land in trust, and for whom?
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Majority of the land in Oahu especially has been leased out to the military and private corporations like big box stores and other business or developers.
I guess we shouldn't have any businesses, defense, or stores here on Oahu
Of course with no businesses it might be tough to make a living - and with no stores hard to shop - and with no military I guess it is just open season for some other country to take over Hawaii.....
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