The Problem with Airbnb:
Negatively Impacting Available Affordable Housing
Housing inventory in Hawaiʻi continues to shrink; however, in contrast, short-term rentals are drastically increasing–by 35% from 2015-2017. According to the Hawaiʻi Appleseed Center for Law and Economic Justice, there are 23,000 short-term rentals in Hawaiʻi, which equates to 1 in every 24 homes. On average, an entire home Airbnb listing will make at least 70% more in monthly revenue as a short-term rental as opposed to a long-term rental. With 43% of Hawaiʻi residents being renters, there is not enough affordable housing available for residents.
Eroding Our Neighborhoods
One in every 4 homes sold in Hawaiʻi is purchased by out-of-state investors, with many of these homes being used as vacation rentals or Airbnbs. The phenomenon is rapidly changing the face of our neighborhoods. Many of our communities are no longer primarily inhabited by owner-occupants. Instead we are living next to strangers on any given day. We will continue to lose our sense of community, personal connections, trust and security in the neighborhoods where we are trying to raise our families because of Airbnb.
Supporting Illegal Operations
With an estimated 8,000 to 10,000 short-term rentals on Oahu alone, only about 816 of these are legally permitted to operate by the City and County of Honolulu. Airbnb continues to fight efforts to crack down on illegal operators, opposing regulations that will expose their identities, allowing for enforcement of zoning law requirements and ensuring the collection of transient accommodations and general excise taxes.