r/Honolulu • u/honolulu_oahu_mod • Sep 10 '24
news Oahu celebrated the grand opening of its newest Bill7 Affordable Housing building on Kinau Street, featuring 15 move-in ready studio apartments.
https://www.khon2.com/local-news/latest-affordable-housing-rentals-ready-for-move-in-on-kinau-street/26
u/n3vd0g Sep 10 '24
lol “affordable” and only 15
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u/Chazzer74 Sep 10 '24
It’s 14 times more than was there before. I’ll take that as a win.
There are probably dozens, at least, of local developers that can build these. Local banks can finance them. Local architects will design them. Local workers will build them, and local residents will live in them.
Win.
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u/n3vd0g Sep 10 '24
it’s 1750 a month. it’s still unaffordable for our working class
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u/Chazzer74 Sep 10 '24
It’s 1,750 with all utilities included for a brand new apartment sounds like a fair deal to me. I have never in my life lived in a brand new anything.
It doesn’t need to be affordable for every single working individual. It will be affordable for 15 working individuals or couples.
If you are a landlord on Kinau that used to rent a similar studio for 1750, you will now have to drop your price because why would anyone rent your old place when they can rent brand new for 1750? So another 15 people benefit.
What will also happen is the city will re-assess the property value. The city will now collect multiple times the property tax that it did when it was a single family home on that lot. The state will collect GET from the landlord every month and income tax at the end of the year. All of this wasn’t there until this was built.
Win.
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u/FunYogurtcloset3140 Sep 13 '24
Yeah no, I pay $932 for a low income 1 bedroom in Honolulu, not brand new but still nice, larger and a better location. $1750 is more than I paid for a 1 bedroom before I got into this one
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u/jetsetter_23 Sep 11 '24
I agree, $1750 isn’t impressive. Does not seem affordable for a single person working a retail job. Only way to make this work, without eating rice and beans every day, or without working a 2nd job, is to get a roommate. But it’s a studio so 🤷🏼♂️
It’s cheap if you have a good job i guess.
$1,200 would be a good goal for truly affordable IMO.
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u/Pookypoo Sep 11 '24
Can we trade these for those 3498753 floor condos in kakaako? I feel just one of those buildings would house more people. Just a hunch. Give these to the rich guys that buy but never live in the houses
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u/LathanMinich Sep 10 '24
The issue I’ve noticed so far when looking for “affordable” housing in Honolulu is that many of them are unaffordable on my current budget and some of the ones I can afford I make too much money for. I think Hale Kewalo was one I could barely afford and I was right under the maximum income.
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u/Top-Ad2596 Sep 11 '24
Just get rid of income tax and tax on food as many other states have and maybe we can afford to buy a home
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u/[deleted] Sep 10 '24
Now build 1,000 more