Requesting The Hawaii Housing Finance And Development Corporation To Provide A Report To The Legislature About Barriers To Creating Truly Affordable Housing In Hawaii.
HR51 calls for the report to analyze the current criteria for what classifies as 'affordable' housing, which has been criticized as outdated and not reflective of the present-day financial pressures on residents. It insists on taking multiple factors like homeowners' association fees, utilities, and overall cost of living into account for this assessment. Through its findings, the resolution aims to provide a foundation for proposals that could potentially reframe housing policies in Hawaii, ensuring they align more closely with the realities of local economic conditions. The report is expected to be submitted to the legislature with recommendations for legislative action by the next regular session in 2024.
House Resolution 51 (HR51) aims to address the serious affordable housing crisis in Hawaii by requesting the Hawaii Housing Finance and Development Corporation to conduct a report on the barriers to creating truly affordable housing in the state. The resolution highlights the severe shortage of decent housing options that residents earning prevailing wages can reasonably afford, emphasizing the alarming statistic that minimum wage workers would need to work over 123 hours per week to afford a one-bedroom apartment. This situation underscores the critical need for revising how 'affordable' housing is defined in the context of Hawaii’s high cost of living, pushing for reforms that would permit more comprehensive assessments of housing costs versus local income levels.
While the resolution itself does not propose immediate legislative changes, it seeks to initiate crucial discussions about affordable housing in Hawaii, which has long been a contentious issue. The call for a detailed examination invites varied perspectives from housing authorities, advocacy groups, and various government agencies to contribute to a well-rounded understanding of the issue. However, concerns persist regarding how these assessments will be implemented and whether they will lead to meaningful change or just serve as a formality without significant outcomes, particularly given the complex nature of Hawaii's housing market and economic dynamics.