Requesting The Hawaii Public Housing Authority To Utilize The State's Rental Supplement Program To Provide Homeowners Insurance Premium Assistance To Housing Owners Who Rent Or Lease To Qualified Kupuna A Mortgage Property Within Designated Lava Zones.
The resolution highlights a troubling situation in which over 25% of older adults in Hawaii are classified as low income, often living on fixed incomes from pensions, social security, or retirement savings. As insurance premiums have reportedly increased more than sixfold over recent years, this creates an untenable scenario where continuing to afford housing becomes increasingly difficult, potentially leading to homelessness for many kupuna. By proposing this assistance program, SCR17 aims to enhance housing stability among vulnerable elderly populations while also ensuring that landlords can maintain their rental properties without exorbitant cost increases passed on to their tenants.
SCR17 is a Senate Concurrent Resolution aimed at addressing the challenges faced by older adults, referred to as 'kupuna', particularly those living in designated lava zones in Hawaii. The resolution requests that the Hawaii Public Housing Authority utilize the state's Rental Supplement Program to assist homeowners who rent or lease properties to qualified kupuna by providing homeowners insurance premium assistance. Given the significant increase in homeowners insurance premiums due to the continued impact of the Kilauea eruption, this bill seeks to alleviate some of the financial burdens faced by both landlords and tenants in these areas.
The proposal represents a significant shift towards addressing the rising housing costs exacerbated by natural disasters, recognizing that disaster recovery must include measures for maintaining affordable housing. However, while the bill may garner support for its objectives to assist older adults, there may be discussions regarding the sustainability of funding the proposed program and the administrative capabilities of the Hawaii Public Housing Authority to implement these measures effectively. Notably, the balance between aiding homeowners and ensuring assistance reaches all targeted kupuna will be critical to the bill's success.