The Big Island of Hawaii has experienced significant population growth in recent years. Many of those relocating are moving inter-island too.
𝗖𝘂𝗿𝗿𝗲𝗻𝘁𝗹𝘆 𝗶𝗻 𝗢𝗮𝗵𝘂...
The construction industry in Honolulu faces significant delays in obtaining permits, leading to economic strains and disruptions in people’s lives. These delays stem from a mix of factors: a growing backlog due to understaffing, poor training, technological limitations, and complex regulations. Recent attempts to alleviate the problem involve increased funding, technological upgrades, hiring assistance, and legislative changes aimed at expediting smaller projects and improving transparency. However, the effects of these changes are still being awaited, and the situation remains challenging.
𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝘁𝗵𝗶𝘀 𝗺𝗲𝗮𝗻...
The delays in obtaining permits add to the existing housing crisis caused by low housing inventory. With the construction process hindered by permit delays, the creation of new homes or developments slows down. This exacerbates the shortage of available housing, driving up prices due to increased demand and limited supply. As a result, it becomes even more difficult for individuals and families to find affordable housing options, worsening the housing crisis in Honolulu.
𝗕𝗶𝗴 𝗜𝘀𝗹𝗮𝗻𝗱 𝗿𝗲𝗮𝗹𝗶𝘁𝘆...
The combination of rapid population growth on the Big Island and the statewide housing shortage poses several challenges. Increased demand for housing on the Big Island may intensify competition for available properties, leading to higher housing costs. The shortage could limit options for newcomers and locals alike, making it harder to find affordable housing. This situation might prompt the need for innovative solutions to address the growing demand for housing while ensuring it remains accessible to residents of the Big Island.
𝗟𝗲𝘁'𝘀 𝗰𝗼𝗻𝗻𝗲𝗰𝘁 𝘁𝗼𝗱𝗮𝘆 🏡
RSPS, GREEN, C2EX
Coldwell Banker-Island Properties