It’s been a little more than three weeks since the state Legislature returned to session. And among those paying close attention are Hawai’i realtors.
Pacific Business News caught up with residential real estate experts on the state of the industry and found a sharp focus on public policy.
Julie Meier is president of the trade organization Hawaiʻi Realtors. One of that organization’s top legislative priorities right now is to get clarity on price controls during a state of emergency.
Meier noted that Hawaiʻi state law automatically imposes a prohibition on commodity price increases when an emergency is declared. That includes rental housing.
The challenge is that governors and mayors have been declaring states of emergency with greater frequency, and with lengthy durations.
House Bill 1902 and Senate Bill 2843 would require a governor or mayor to specify, within 72 hours of declaring an emergency, whether price controls are being implemented and if so, on which commodities.
The group said that would allow more flexibility for the rental market.
Additionally, Meier shared that Hawaiʻi Realtors Charitable Foundation is distributing $1.5 million to help Maui homeowners and renters impacted by the wildfires.
The state’s overall housing shortage was made worse by the fires. And Hawaiʻi Realtors hopes the permitting process will be streamlined, to speed up housing development. It would also like more support for accessory dwelling units.
