LIHUE, Hawaii (AP) – An influx of out-of-state buyers and renters pushed up house prices on the Hawaiian island of Kauai last year, officials said,
“For the record, (they) appear to have dramatically increased house prices and rents, exacerbating an already critical housing shortage,” Adam Roversi, director of the county housing agency, told The Garden Island newspaper. .
The median selling price of a single-family home in Kauai jumped 57% in November from the same month in 2020 to $ 1.2 million, according to real estate company Rentals. Statewide, the median has climbed 16%.
Kauai County Council Member Luke Evslin agreed that the influx of wealthy people seeking to work remotely from new homes stands out as a key development in the housing crisis.
âIf you work for Google, you can afford to outbid anyone who works on Kauai, for the most part,â Evslin said.
Rising house prices and rents have intensified the labor shortage on the island, said Nalani Brun, director of the county’s economic development office.
She said many workers in the hospitality industry are from outside the island, often recent high school or college graduates, looking for sun and adventure. They often share houses and pool their resources to pay rent. But less of these homes are available, and those that remain have become unaffordable for low-income workers.
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