Description
The Hawaii Chapter of the Asian Real Estate Association of America (AREAA Aloha) is hosting an education seminar and fundraiser, HOUSING IN CRISIS: “Make Housing Affordable!” and invites the public and housing industry to join them on September 12 from 4:30 - 6:30 P.M. at the Parish Hall at Central Union Church, 1660 S. Beretania St, Honolulu, HI.
Hawaii has the most expensive housing prices in the United States and, because of that, many people are migrating to the mainland. Many fear more will leave the island now because of the Maui fires and the need for housing and jobs. What are can we do to solve this affordability crisis?
Its current Chapter President Tom Kiyabu says “the Data speaks for itself. There’s a decline in our population for the past four (4) years due to the cost of living and being unable to buy a home. Over 50% of my clients state [that ]their children are planning to move out to the mainland where there is a lower cost of living, better pay, affordable homes and favorable state taxes.” He’s hoping that by bringing together leaders in the community, we can bring about change. “The government needs to change its mindset [which the public sees as] do nothing. They need to review the zoning and increase urban zoning allowing home projects to expand, reduce regulations, improve process wait time and be more efficient.”
Their Immediate Past President Abe Lee believes that “the price of homes in Hawaii has made homeownership very difficult for a lot of people…”. He says “…there are ways to make housing more affordable by building a duplex and splitting the cost of the duplex that makes the duplex ownership more affordable. We can take multiple homes on a lot and “condominiumize” the homes that make buying each unit more affordable.” He recently taught a 100 real estate professionals and investors on how to CPR a property.
Judy Sykes, an AREAA Aloha Founding Director ,as well as, Past President of the Hawaii Association of Realtors and the Honolulu Board of Realtors knows, “While the housing crises demands urgent action, a comprehensive framework is critical. We can learn from successful models yet still be open to new options to address the many sectors that impact housing needs from homelessness, jobs, transportation, social services and education.”
Past President and co-Founder of the AREAA Chapter, as well as, a Past President of Realtor Association of Maui Gina Duncan has worked with developers and understands the obstacles they have to overcome to get projects approved on Maui. Duncan remarks “Affordable homes and Workforce housing are a necessity now more than ever. Maui County needs to rethink their laws regarding Housing to support sustainable homeownership opportunities with different ideas.”
Another Past President and a Founding Director of AREAA Aloha, Ronda Ching Day laments over the very definition of what is an affordable home. “In many cities, ‘affordable housing’ is almost a dirty word for politicians and attracts NIMBYs. As people often think that its housing for low to no income people, will attract crime or increased traffic. We need to reshape our thinking. We want residents to stay in the islands. . .Home Pricing, Inventory, Interest Rate hikes and Attainable Housing are a concern for buyers at all price levels. We need to look at attracting clean industries that offer higher incomes.”
Abe Lee will facilitate the Sept 12 program which includes featured speakers such as Honolulu City Managing Director Michael Formby, developer Peter Savio, Allen Okamoto of the AREAA Foundation, and Director of Governmental Affairs of the Realtor Association of Maui Jason Economou.
A real estate licensee since 1970 and educator who started Abe Lee Seminars in 1980, Abe has taught over 10,000 students in helping them to get a real estate license. Abe also developed over 175 affordable units by doing small infill projects. He served on the Board of Directors for Habitat for Humanity, and currently serves on the Development Committee for Hawaii Homeownership Center.Managing Director Mike Formby presents what the City and County of Honolulu is doing to reduce the regulatory burden on affordable housing on Oahu.
Developer Peter Savio shares his common sense strategies to solve the affordable housing crisis which he feels is achievable in 5 - 10 years. Savio has more than 40 years of experience in real estate development and sales in the Hawaii market and has centered much of his career on affordable housing and agriculture projects within the state. To date, Savio has converted over 24,000 units from leasehold to fee simple ownership in over 200 buildings, making the Savio Group the largest active lease-to-fee converter in the State of Hawaii.
He and Abe Lee will discuss creative solutions based on their development experience.Allen Okamoto, Chairman Emeritus of the AREAA Foundation, wants community members to know that his organization helps homeowners and what it is committing to do to help Maui homeowners who were affected by the fires.
Jason Economou addresses concerns of the severe lack of affordable housing on Maui, the causes of Americas’ broken housing system, and solutions that Hawaii can put in place. Jason is the director of government affairs at the Realtors Association of Maui. He received his juris doctor at the Charleston School of Law in South Carolina, was a graduate of the Citadel and previously an associate for Merchant Horovitz. Jason has been a speaker at the Grassroots Institute of Hawaii presentation on “How to Make Housing in Hawaii Affordable”, the Realtor Association of Maui luncheon on the “Cost of Housing”, and seen on ThinkTech Hawaii’s show “Fixer Upper”.
In addition to the speaker program, the AREAA Aloha Chapter includes a bento and drink, raffle drawings and auction items. All proceeds will benefit the AREAA Foundation directed towards affordable homeownership and an organization that provides relief to the Maui Fires victims. Early Bird Cost (up through 9/7) is $15 or $10 for AREAA members. At the door price is $15 for members and $20 for non members. The cost includes snacks, bento from Keneke's and beverages. Reception and Networking begins at 4:30. Speaker Program is from 5:00 - 6:30 p.m.
About AREAA Aloha
AREAA Aloha is dedicated to providing real estate education and relevant community information to its members so that the members can influence and improve Hawaii's lifestyle.
Chapter President Tom Kiyabu joined AREAA because he wanted to make a difference in people's lives. He wanted to help his friend's children come home and live in Hawaii. He is an active fundraiser with the Aloha United Way and Central Union Church. He is a also a member of the Hawaii Housing Affordability Coalition.
He and Ronda Ching Day will share information that they learn at the AREAA Ventura Housing Summit on 9/7. Ronda, Judy and their Events Committee strive to provide fun, educational events that complement their local Board of Realtors and Hawaii Association of Realtors continuing education programs. Gina Duncan will share her opinions why Maui has not been able to provide affordable homes.
Other "Housing in Crisis - Make Housing Affordable!" Events Committee members include other Board Directors such as Benji Eger who recently opened his own brokerge, property management and real estate education school. He has been an active member of Rotary raising funds and helping with other community events. AREAA Aloha Vice President Brad Kaneshiro, Secretary Sabrina Phelps Takeda, Treasurer Angeline Shiroma, Director Mami Takeda and new members Nana Isono, Shari Shim and Christine Bondroff bring their enthusiasm and support to the committee.