Urging The Hawaii Housing Finance And Development Corporation To Develop A Plan To Produce Sufficient Housing To Meet The State's Demand.
If enacted, H.R. 86 would prompt the HHFDC to prioritize housing production strategies to meet the state's demand for various income levels, thus potentially reshaping state housing policies. One significant outcome could be increased inventory of affordable housing units, which is crucial for residents who cannot afford the high cost of living in Hawaii. The bill also acknowledges the direct correlation between housing availability and workforce retention, as a considerable number of residents cite housing costs as a primary reason for considering relocating out of Hawaii.
H.R. 86 is a resolution urging the Hawaii Housing Finance and Development Corporation (HHFDC) to develop a strategic plan aimed at addressing the severe housing shortage in the state. The resolution stems from alarming data reported in the 2019 Hawaii Housing Planning Study, which highlighted a discrepancy between housing supply and demand across various income segments. The bill specifically emphasizes the urgent need to create housing suitable for a broader range of household incomes, including those earning over 120% of the area median income, in response to the critical barriers to housing access that residents face.
While the bill advocates for proactive approaches to housing production, there may be points of contention regarding the HHFDC's ability to effectively manage and allocate resources to meet diverse housing needs. Critics may argue that without adequate funding and clear strategic guidelines, the resolution may lead to inadequate solutions that fail to significantly address the housing crisis. Moreover, stakeholders may express concerns over balancing the development of new units with the preservation of existing neighborhoods and historical sites within the state.