Requesting The Department Of Business, Economic Development, And Tourism To Submit A Report To The Legislature On The Barriers To Creating Affordable Housing In The State.
This resolution emphasizes the need for better methodologies to assess affordable housing criteria, considering Hawaii's unique market challenges, such as a high cost of living and real estate prices significantly above the area median income. The DBEDT is tasked with consulting various stakeholders, including other state agencies and advocacy groups, which signifies a collaborative effort to tackle the housing crisis and improve legislative approaches. This initiative could help shape future housing policies and reform outdated definitions of 'affordable' to better serve the local population's needs.
HCR20 calls for a comprehensive report from the Department of Business, Economic Development, and Tourism (DBEDT) regarding the barriers to creating affordable housing in Hawaii. The resolution highlights the severe shortage of affordable housing in the state, which has become a critical issue, as residents struggle to afford housing on prevalent wages. The existing guidelines and formulas used to determine what qualifies as 'affordable' are criticized for being outdated and not reflective of the current market and living conditions, especially as most affordable housing programs do not apply federal guidelines to non-subsidized developments.
The significance of HCR20 lies in recognizing housing as a human right rather than just an investment vehicle. The resolution underlines the dire financial situation faced by many households amid the COVID-19 pandemic, asserting the necessity for housing solutions that reflect actual economic realities. Key points of contention could arise regarding the definition of 'affordable,' the methods proposed for the report, and how findings are to be implemented into actionable policies. Stakeholder consultations may uncover differing opinions on priorities in developing housing solutions.
HCR20 also sets a timeline for the submission of the report, requiring it to be presented to the legislature no later than twenty days prior to the Regular Session of 2023. This timeline is crucial for ensuring that findings can inform potential legislative actions in a timely manner. The conclusion of this resolution could lead to more engaged state-level discussions on affordable housing, compelling legislators to consider innovative strategies for expanding accessible housing options in Hawaii.