People have long talked about being priced out of paradise — having to leave the Islands and move elsewhere because Hawai‘i’s high cost of living. But an expo Saturday wants to help reverse the trend.
Priced into Paradise — set for 9 a.m. to 5 p.m. Saturday, Oct. 25, at the Blaisdell Expo Hall — is looking to change the narrative that homeownership in Hawai‘i is unattainable.
“We really are trying to inspire families to be able to own a home in Hawai‘i,” Honolulu City Council Vice Chair Andria Tupola, a co-organizer of the event, told Aloha State Daily. “It’s super costly to live here and sometimes seems impossible to even start the homeownership journey, especially with very large required down payment.”
The expo will offer resources and information on free programs, as well as feature organizations that can help with credit repair and those that help with the “very first steps to try and understand your own debt, your ability to borrow,” she says. There also will be lenders and informational sessions covering topics like home buying 101, renovations, real estate investing and intergenerational living, along with a panel discussion with Dawn Takeuchi Apuna, the director of the city’s Department of Planning and Permitting.
Suzanne Young, CEO of the Honolulu Board of Realtors, a sponsor of this year’s expo, told ASD, “Our message is hope, that homeownership is possible for everyone, and that’s why we really support this event because we believe you need good education.”
Young says Realtors are experts on affordable housing “because they live and breathe this every single day."
“Because every single day, Realtors are out there working with first-time homebuyers on the front lines, working through the multiple offers, the rejections, the hard conversations about budgeting correctly, about saving for your down payment, about what different resources are available. … Whatever it takes to help you become a homeowner,” she continued. “It’s challenging here in the state of Hawai‘i but not impossible. These types of community events are really important to us because Realtors know the long-term benefits of homeownership. Housing is essential, but being able to move from rent to ownership, it’s a sense of community. It creates financial well-being with you and a sense of financial wealth. Realtors know the benefits of homeownership and community events like this allow us to be able to share that message with people who, unfortunately, may only see the headlines, and the headlines tell a different story.”
This is the second year for the event.
The idea stems from a podcast Tupola did with Kamohai and Tristyn Kalama, the husband-and-wife team behind HGTV’s Renovation Aloha. Tupola says they toyed with the idea of “what if there is a place where you can come and get all the resources you need to buy a house. From that podcast, we just decided to organize this event."
Tupola says that many people pay just as much in rent as they would for a mortgage.
But making that leap or coming up with a down payment might be daunting.
“We want people to know that there’s a possibility of owning a home, building equity, having an income stream so that you can actually afford to live here."
Priced into Paradise is free to attend with registration. You can register here ahead of time.
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Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
