Neighbor Island Residents Find Tight Housing MarketOut-Of-State Visitors Shrink Housing Market With Vacation Home PurchasesPOSTED: 8:36 am HST May 6,
2005 KOLOA, Kauai, Hawaii -- The high-flying housing market sweeping through the islands is hitting the neighbor islands especially hard. For example, the highest median home price on Maui is also the highest in the state at more than $600,000.KITV 4 News reporter Paul Udell found the affordable housing situation on Kauai especially hard for local families.Visitors are back in droves on Kauai after the economy was devastated for years following Hurricane Iniki. Vacation rental sales are booming and so are vacation home sales for mainlanders. Some local residents are making big bucks from the housing market.
The Akaus have four children; three are school age. Their 2-year-old daughter stays home.Erin is a waitress at a nearby resort. Dwayne is a handyman.When he thinks of a home, he thinks of the kids.''My family will have their own home to come to and pass it down to the kids down the line. It's actually for their future, not for us," Dwayne Akau said. ''Everyday what I think about is: When am I going to get my house and move forward instead of paying somebody else every month?"They're worried if they do buy a house they'll be working all the time to pay for it. They're concerned about what that will do to their family.They know the visitors bring the money that pays the bills. However, they're frustrated by second homes for mainland owners that stand empty most of the year. Those owners shrink the housing supply.In their backyard, in the Kauai they love, with the child who doesn't know yet what the fuss is all about is father with a worrisome thought. Dwayne is worried the family might have to leave the islands.''Yes it is a concern. I mean if we want to move ahead and nothing's happening here, that's the next step we have to take," Dwayne said.Tips For Homebuyers: Copyright 2006 by TheHawaiiChannel.com All rights reserved. This material may not be published, broadcast, rewritten or redistributed. | KITV on Facebook
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