HI SR203

Requests the Department of Business, Economic Development, and Tourism to submit a report on barriers to creating affordable housing in Hawaii to the Legislature.

Requires the department to consult with the Hawaii Housing Finance and Development Corporation, Hawaiʻi Appleseed Center for Law & Economic Justice, and Hawaiʻi Alliance for Community-Based Economic Development during report preparation.

Directs the report to include information on methodologies for determining what qualifies as "affordable" housing in Hawaii compared to other states and municipalities with similar high costs of living.

Requires the department to submit findings, recommendations, and any proposed legislation no later than twenty days before the convening of the 2023 Regular Session.

Identifies existing problems including outdated affordability formulas that allow homes priced over $1,000,000 to qualify as affordable and minimum wage workers needing to work 114 hours per week to afford a modest one-bedroom rental at fair market rent.