HI HCR12

Request the Hawaii Housing Finance and Development Corporation to study increasing the minimum percentage of units developers must set aside for low- and moderate-income households to qualify for exemptions under Chapter 201H, Hawaii Revised Statutes.

Current Honolulu requirements mandate at least 51% of units in projects with more than 30 units be affordable, with 20% reserved for households earning less than 80% of area median income and 31% for households earning 81-120% of area median income.

Study should examine the viability of raising these affordability thresholds while balancing the need for more housing against community concerns about neighborhood character, congestion, and infrastructure capacity.

Corporation must submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2024 Regular Session convenes.

Affordable housing units in Honolulu must remain affordable for a minimum of thirty years.