Housing buyback struggles raise concerns over affordability

During a recent government meeting, officials discussed the financial implications of various community projects and the status of housing buybacks. Key topics included the prioritization of repairs and potential funding requests to the legislature, particularly concerning a crosswalk on Queen Street, which is awaiting critical parts for completion. The director noted that flashing beacons for the crosswalk are already on the island.

Additionally, the completion of the Coal Part Dog Park is anticipated by October, with a few major items still pending. Members expressed interest in receiving updates on the Leo Kalani trust renovations, highlighting the ongoing activity in that area.

A significant portion of the discussion focused on the buyback of reserve housing units. It was revealed that there has been one request to sell, but the buyback agent, Hawaii Homeownership Center (HHOC), declined to purchase the unit due to various factors, including the unit's condition and desirability. The meeting underscored the challenges faced in the buyback process, with no units having been successfully bought back by HHOC or the Housing and Community Development Authority (HCDA) to date.

Concerns were raised about the desirability of certain units, particularly one located at 803 Waimanu, which features a mechanized parking structure that has deterred potential buyers. The meeting concluded with a call for exploring alternative buyback agents to enhance the affordability and accessibility of housing options in the community.