Maui’s mayor wants to ban Airbnbs to make housing more affordable for locals. Researchers say it could cause an economic shock
Honolulu (AP) – UnprecedentedOffer from the mayor of MauiDuring the holiday rental, they would weaken the lack of heavy housing, which has escalated2023 Fires:But the economy would also interfere, said the University of HawaiiReportPublished on Monday.
Mayor Richard Bisin was presentedPolicyThe idea last year for Maui promotionLimited supply of long-term roofAfter fires, more than 3,000 housing units were erased in Lahaaa.
Trey Gordner, one of the authors of the study and one of the researchers of the Hawaiian Economic Research Organization, says that there are always trade measures related to this type of decisions.
“We believe that politics will increase housing access to some extent jobs, income and tax revenues,” he said. According to the report, the visitor’s expenses will decrease sharply.
Bisen said that the report is a valuable first step to understand the possible economic impact of his proposal. But he said that economic models do not reflect the experience of lifestyle of those who fully in diverse houses, moving long distances and leaving Maui, because they cannot afford an apartment.
“Most importantly, they can’t recognize the cultural loss we face when our people have to leave.
The Housing and Land Use Committee of the Mainey Regional Council may obtain a bill, which includes the mayor’s proposal within about 60 days, depending on the budget review and discussion schedule, the chairman of the council.
He said that his concern is that the study does not concern the legal consequences and the cost of politics.
“My understanding is that many (short-term rent) owners will choose to maintain their units and have not sold or rented their units and use them when they visit Maui. “The Board would like to create a fair and fair solution that works for all parties.”
About a third of Maui’s visitors uses holiday rental. They tend to be less than hotels and are easy to store on such sites Airbnb and vrbo. Many have jobs and kitchens, so people can work remotely, and families can make their own food.
They also becameA source of tension in MAUIparticularly afterwardsLahaina Wildfire– In more than one century in the United States, it destroyed so many apartments.
The report says that the mayor’s proposal is unique on a scale, as the leases of the rest are 21% of the housing supply of the Maui region. In contrast, the Los Angeles Rental Rental Regulations have affected 0.9% of local apartments, and those in Barcelona were 2.6%, reporting.
Politics up to 6,127 holiday leases would increase Maui’s long-term housing fund by increasing the supply by 13%.
As only 600 new housing units are built in the county every year, it will be equivalent to a new development of one decade. Condo prices will decrease by 20-40%, study assessments.
Most of the affected owners would not have been the residents of Mau, as 85% of Maui’s apartment-zone officer is out of abroad, particularly California and Washington, as well as Canada.
It would be another benefit that the units turned into long-term apartments will not require the county to develop additional water sources that are scarce on Mau.
At the same time, the study predicted that the policy would eliminate a quarter of a quarter of the Maui region’s visitors’ shelters. About 1900 jobs or 3% of the country’s salary will disappear.
The gross domestic product would be 4%, and property taxes are likely to decrease to $ 60 million.
The report says that the county can achieve some of the desired housing stimulation, with less economic disorders, if it increased the vacation pads, and adopted zoning and allowance.
The top of the number of leave licenses and their auction would be another approach.
University Assistant Steven Bond-Smith and Co-author of the report said that it was not aware of the community that made it with holiday rental, but it is a common practice that it is used for taxi medals.
The auction licenses will boost less profitable points from the holiday market, as the cost will not justify the cost, the report says.
The university has conducted a study at the request of the Hawaiian Community Fund, a non-profit organization.
This story was originally shown Fortune.com
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