Aloha Everyone,
Exactly two months since the horrific, devastating fire razed the neighborhood of Lahaina, Maui, Hawaii Governor Josh Green’s administration along with the Hawaii Tourism Authority announced that Maui is reopening to tourism.Tourism is the largest single source of private capital providing 80% of the county’s income.
Every 1,000 units not rented to tourists could potentially equate to $30 million monthly loss for local businesses.
Median housing costs in Hawaii is 214% higher than the national average.
Less than a 1/3 of Hawaii residents can afford to buy a single-family home.
40% of Hawaii households are renters. They spend on average over 40% of their income on housing.
More than 70% of homes purchased in 2020 went to vacation homes or rental investments.
Number of Native Hawaiians living on the continent USA now outnumber those who live in their homeland.
Native Hawaiian activists are calling for alternative industries to help diversify the state’s dependency on tourism.
Hawaii’s isolated location works as an attractive destination but also creates challenges.
Aloha -- Cathi