Urging The Hawaii Housing Finance And Development Corporation To Develop A Plan To Produce Sufficient Housing To Meet The State's Demand.
The resolution cites specific statistics from the 2019 Hawaii Housing Planning Study indicating that while nearly 533,000 housing units exist, a considerable number remains vacant, leading to an alarming rate of 11.2% of unavailable units. Furthermore, the state’s construction output has lagged behind national averages, with production rates being less than half of what is needed to meet the demand projected for medium and higher-income households. This gap underscores the necessity for a diversified approach to housing development that includes not just affordable options, but also units for a broader income spectrum.
HCR90 is a House Concurrent Resolution urging the Hawaii Housing Finance and Development Corporation (HHFDC) to develop a comprehensive plan aimed at addressing the acute housing shortage in the state of Hawaii. The resolution outlines a critical situation where a significant portion of local families struggles to remain in the state due to soaring housing costs and limited availability. The need for such a plan has become increasingly urgent as recent studies highlight a substantial gap between housing demand and supply across various income levels.
One of the notable points of contention arises from the historical focus of the HHFDC on low-income housing projects, which, according to the resolution, has led to an oversaturation in one segment of the market while completely neglecting other critical housing needs. Advocates for the plan argue that without addressing all income brackets, particularly those earning between 120% and 140% of the area median income, the state runs the risk of permanently losing residents to out-of-state migration due to high living costs and inadequate affordable options. The resolution calls for a proactive innovation in housing strategies to combat this issue effectively.