ScoopKona
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At that new home price even stateside that will probably eliminate 80% of the population, especially first times buyers.
Prices are higher in Maui than other neighbor islands. There are programs for first time buyers. But they fall far short -- the economic reality is that home ownership isn't in the cards except for high-wage earning families.
Isn't that a movement in the direction that you want? Simply a combination of that and raising the GET but eliminating the GET on unprepared food, which someone said that the new Governor wants to do, would certainly make it more expensive for tourists to come to specifically Maui and Hawaii in general. I believe the Legislature passed the bill for the minium wage will go up to $18/hour by 2025 or so that is another Govenment step in the right direction. In view of all of the negatives, I am very postive on the future of Hawaii.
$18 is still too low to make a living. Stupidly low. Like, "what are they thinking? Don't they live here, too?" too low. Even without payroll taxes taken out that's still less than $3K a month. That doesn't cover both rent and food. Let alone anything else.
$18/hr would have made sense 20 years ago. But today? It's not enough for one person to live without roommates and a lot of side-hustling. Inflation just keeps chugging along. So when that increase finally happens, it's already too late.
And here's the thing, as the old uncles and aunties pass away, their property is largely being sold, not handed down. That means investors grab up more and more. Investors offer cash and more than list price -- it's a bad financial move not to sell to them.