Study: Big Island housing needs to grow fastest in state

KAILUA-KONA, Hawaii (AP) - Hawaii’s Big Island will need 19,610 new housing units during the next decade, a new state study predicts.

The study released Thursday by the state Department of Business, Economic Development and Tourism predicts Hawaii County will lead the state in the rate of household growth during that period, West Hawaii Today, a Kailua-Kona newspaper, (https://is.gd/wrAVLf) reported.

The housing demand on Oahu is forecast to equal 25,847 units between now and 2025. Maui is expected to need 13,949 housing units, and Kauai is expected to need 5,287 units.

West Hawaii real estate agent Gretchen Lambeth was not surprised by the findings.

“Housing is super tight right now,” said Lambeth, who compiles and distributes monthly real-estate sales statistics. “There are a lot of known developers with land out there who haven’t pulled the trigger.”

Builder Dion Kawakami said home construction started picking up in East Hawaii last year, and there is a lot of interest this year from people seeking quotes.

According to the study, Hawaii County’s household growth is predicted to be the highest at 29 percent. Next highest is Maui, with 25 percent, followed by Kauai with 19 percent.

Honolulu County is expected to have the slowest growth rate, which is predicted at 8 percent by 2025.

The study found that home construction has yet to catch up to demand after lagging during the recent economic downturn.

“We need to find solutions to increase Hawaii’s supply of housing so residents at all income levels can afford a home,” Luis Salaveria, director of the Department of Business, Economic Development and Tourism, said in a statement.

___

Information from: West Hawaii Today, https://www.westhawaiitoday.com