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The Plight of the Honolulu Renter

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  • The Plight of the Honolulu Renter

    Renters left out of the loop
    Andrew Gomes, Honolulu Advertiser, Oct. 10, 2004
    Each time home prices ratchet higher in Hawai'i, property owners are building equity or cashing in on it, but price increases that are up twofold this year over last year are putting the financial screws to renters... "A lot of families are paying 50 percent of their income for what is considered substandard housing, and working two or three jobs to do it," said Lehua Rosa Malott, a counselor who helps renters become owners at the nonprofit Hawai'i HomeOwnership Center.
    My wife, our three kids and I are now living with my mother, in the same home I lived in as a teenager. Anywhere else in the U.S., this would be unusual, but in Hawaii, multigenerational households are unavoidable given the challenges that stand in the way of homeownership. I couldn't see myself paying well over $1,000 for a small apartment on a noisy Makiki street when not much more would be equal to a mortgage for a small home or mid-sized townhouse.

    The order of the day right now is to save and clear debts. And when it's time to buy, I'm thinking of following Craig's excellent example and putting down roots on the Big Island.

    At this rate, it's either that or someplace on the Mainland. Paying nearly half-a-million bucks for only a simple home in Ewa is just insane.

  • #2
    Re: The Plight of the Honolulu Renter

    I hope you're thanking your mom every single day for letting you and your family bunk with her. Nothing wrong with multigenerational families, but when you've been on your own for awhile and then have to move in with family again, it makes you kinda resent giving up that freedom, even if both sides agree that it's "for the best".

    Only in the US is there a stigma placed on living with one's family after you attain "adulthood" (whatever the heck that means ). Everywhere else, it's considered an honor and privilege and an obligation. Besides, your kids have the wonderful opportunity to grow up with their grandma and that's something they'll treasure when they're adults.

    Miulang
    "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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    • #3
      Re: The Plight of the Honolulu Renter

      I used to rent in Honolulu, fortunately for me my landlord was a friend of ours so a three-bedroom house on 18th Avenue in Kaimuki cost us only $1200/month and that was just about a year ago.

      We rented so we could stay in the districts where there were good public schools. We rented because everything else went into savings and investments so we could one day afford to buy our home where we wanted (East Oahu where I grew up) Well that obviously didn't happen.

      We actually got out of renting at the right time, just as rent prices were on the rise. My landlord would have been hard pressed to keep her rent to us low for the sake of our friendship. As soon as we moved out, the rent went up to $1600 to the next tenant and there was a list of them waiting. Amazing.
      Life is what you make of it...so please read the instructions carefully.

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