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"This is not a problem that is unsolvable."
“We’ve seen an exodus of those individuals going to the mainland because they just can’t afford rent."
“Change is coming. The tide is turning."
“Oceanfront condos are not going to translate to affordable housing."
Mental health experts say talking openly about financial hardship can help break a cycle of hopelessness.
A new report found Hawaii's cost of living was 80% higher than the national average.
Many displaced residents on Maui are now worried about rents skyrocketing after the wildfires.
Honolulu Mayor Rick Blangiardi said he also was shocked by how much real estate values appreciated last year.
Residents say inflation is changing their spending habits.
“We have to raise the prices, the prices are raised on us."
The median rent has ballooned by 19% since the beginning of the pandemic.
It was a different story in the market for condos, however.
"It keeps raising higher and higher.”
The state Senate is considering a measure that would increase the minimum wage to $18 by 2026.
The median sale price of a single-family Kauai home jumped 57% in November from the same month in 2020 to $1.2 million, according to real estate firm Locations.
The project was paused after a COVID-related price hike in materials.
Condo prices were also up again, with the median price at $500,000. That’s up 16% over the year.
Realtors say interest rates are historically low, which is driving many to shop for a new home. But with the demand so high there’s just not enough property to go around.
Buyers from the mainland are further stiffening the already competitive market.
Competition in the housing market remains stiff as homes are selling faster, getting more offers, and being sold for far over the asking price.
The reports authors said Honolulu’s COVID-battered economy and high unemployment rate were the biggest factors driving the city’s fall in the rankings.
The statewide average price for a gallon of regular was 81 cents lower this time last year, AAA Hawaii says.
“All of the affordable housing developers are working on going as fast as we can but we can’t get caught up.
Another indicator of just how hot the housing market is: Homes were on the market for a median of just eight days before being snapped up.