Only one of every five Hawaii households can afford a single-family home, according to a bleak Monday housing report from the University of Hawaii.
Only 1 in 5 households in Hawaii can afford to buy a single-family home — a dramatic drop from just three years ago, according to a grim housing report released by the University of Hawaii on Monday. In 2021, 44% of Hawaii households could afford the mortgage on a median-priced single-family home. That figure is now 20%. As a result, home sales plummeted last year, hitting a 25-year low. But the slump had little impact on prices.
Converting thousands of vacation rentals into long-term rentals — which Maui’s mayor is proposing to do — could have a really significant impact on affordability, Tyndall said.
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