KHON2: Summit addresses cost of living, out-migration of young Hawaii professionals

HONOLULU (KHON2) — Hawaii is seeing more residents leave than people moving in, that’s according to a UHERO study which found young adults ages 25 to 34 make up a significant portion of residents who leave.

On Friday, the Chamber of Commerce Hawaii’s Young Professionals hosted its second Cost of Living summit to address the reasons why young Hawaii residents are leaving the state to find opportunities elsewhere.

“The fact that since 2017, more young professionals are actually leaving than coming really speaks to the larger picture and cost of living that’s happening in Hawaii,” explained Jessica Yuhara, Chamber of Commerce Hawaii Young Professionals chair. “Single-family homes are the most expensive in the nation, we have the highest grocery bills in the nation, so there’s a lot and childcare is another piece of that.”

On Friday, about 150 young professionals came together to discuss solutions, share ideas, and hopefully bring those solutions to lawmakers so more young professionals and families can stay in Hawaii.

According to UHERO, one in five young Hawaii families can afford a mortgage for the median-priced home of nearly $900,000; and according to Child Care Aware of America, child care costs Hawaii parents 18% of the median income.

Statistics also showed Hawaii has the lowest millennial homeownership rate in the country, a statistic a young Chamber of Commerce board member isn’t surprised to hear anymore.

“It’s not shocking to me anymore,” said Kyle Shelly, Chamber of Commerce Hawaii board member and American Savings Bank Sr. vice president direct corporate banking division. “It was, but because it’s been a long-standing problem for the state for multiple years, I’m not surprised by it anymore. If anything, it’s more motivating to try and solve the problem and get it on the right path.”

Shelly moved to Hawaii from Guam in 2010.

“It was a struggle to be here,” he said. “And I qualified for reserve affordable program so I benefited from some of the programs we have today to stay here and so I feel an obligation to return that and help others to stay here.”

Some solutions include Blueprint 2030, which has over two dozen recommendations for lawmakers and state and county leaders to help young families stay in Hawaii.

Those recommendations include reducing Hawaii’s state tax burden, providing high school and college students with more work opportunities, expanding the housing supply and stem education, and focusing on the agriculture sector.

Read more from KHON2 News here.