Community ownership is an important tool in helping local families stay in Lahaina, a recent report found.
Hawai‘i Land Trust partnered with Kahālāwai Consulting to study the threat of accelerated land loss for local families and businesses following the August fires.
Disaster-fueled real estate speculation can drive out local ownership and increase wealth disparities. By reviewing previous disasters across the country and conducting an analysis of Maui County property sales, the report says it can be devastating to communities.
‘Olu Campbell, president and CEO of Hawai’i Land Trust, shared the report’s takeaways.
“The top thing that really caught my eye was the potential risk that the Lahaina community is facing. When we looked at the data of other disaster-stricken areas, we took that average and it looks like about a 15% increase in home turnover following a disaster, and then we apply that to Lahaina," Campbell told HPR.
"That adds up over just a few years to a pretty significant amount of sales and exchanges of land ownership in Lahaina — about 20% was the number, and that's kind of a critical mass of that community that could change in the pretty near future," he said.
Under that scenario, the report estimates Lahaina could see roughly 6.5% of residential properties totaling $122 million change hands over the period of one year. Within three years, a 20% turnover of ownership would total at least $360 million in value.
In the first six months after the wildfires, more than $25 million in real estate was sold in Lahaina, according to the report.
Community land trusts, like Nā Hale o Maui and the Lahaina Community Land Trust, are working to stabilize owner-occupied residential properties in Lahaina and protect the community’s character from off-shore investors.
Campbell said the report validates that community ownership models can be successful and help communities prosper after disasters.
“The Lahaina Community Land Trust is grateful to HILT and Kahālāwai Consulting for producing this report which shines a bright light on what a powerful force community land trusts can be for social justice, anti-displacement and community empowerment," said Mikey Burke, Lahaina Community Land Trust president, whose family lost their home in the disaster.
"In our hardest times, we realize the strength we have as a community. We really are stronger together,” Burke said.
Campbell said education about the roles community ownership can play is also important as Lahaina looks to the future.
“The other benefit I see coming out of this report is just broader community awareness. Land trusts are not something that everybody is familiar with, [and] are one of a whole suite of different types of community ownership models. It isn't something that's really commonly talked about or understood throughout the community, and even in communities that have more influence over these types of processes, like funders, for example," Campbell said.
"And so as organizations are looking at potential strategies for community ownership, I think just a general community awareness, and awareness among funders, is a strategy that they should be looking into."
"I hope that will be helpful in promoting and maybe accelerating these solutions that could be very supportive of the [Lahaina] community,” he said.
