Bill > SB1632

This bill addresses Hawaii's affordable housing crisis by establishing a comprehensive action plan through the "Yes In My Back Yard" (YIMBY) Working Group to create a local housing market that prioritizes residents. The bill highlights significant challenges, including the high cost of housing that drives approximately 60,000 Hawaii residents to relocate annually, with 45% of households struggling to meet basic needs and 25% planning to leave the state. The proposed action plan will develop various types of community land trusts, including condominium, agricultural, and family inheritance trusts, and will explore incentives to promote land trust development such as tax credits, increased density limits, and state-backed loan guarantees. The plan will also analyze legal considerations for restricting home sales to qualified state residents and recommend statutory amendments to support affordable housing. The Department of Business, Economic Development, and Tourism will be responsible for submitting the comprehensive action plan before the 2026 regular legislative session, with an appropriation to be determined for fiscal years 2025-2026 and 2026-2027. The ultimate goal is to create a housing market that preserves affordable homes for Hawaii residents and mitigates the current trend of out-of-state buyers driving up housing prices.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1632&year=2026