Aloha Friend,
This week Governor Josh Green pledged to sign a bill into law that would give each county clear authority to regulate vacation rentals.
“Housing for Hawaii residents remains our top priority,” Governor Green said, “and we have too many short-term rentals owned by too many individuals who live on the mainland. This bill will help address that.”
(Jamm Aquino / Honolulu Star-Advertiser)
Short-term rentals make on average four times what they would if the property were rented long-term to a local family — and 52% of all short-term rentals in Hawaii are owned by non-state residents, with 27% owning 20 units or more.
“There are tens of thousands of housing units across the state that should not be short-term rentals,” Governor Green said. “They should be homes for our people.”
An estimated 75,000 of the 89,000 units in Hawaii's short-term rental market are ‘not legal’ according to our existing laws.
The bill would empower the counties to return thousands of housing units to the local market, increasing supply and bringing down prices.
Hawaii already faced an estimated shortage of 50,000 housing units before fires destroyed nearly 4,000 homes on Maui last year.
“When this bill passes, I will sign it. It will have a positive, profound impact on our people,” Governor Green said. “It will help people get housing again.”
If you support Josh’s efforts to make housing more affordable for Hawaii residents, please consider pitching in a donation today.
Mahalo,
Team Green
