Are outsiders responsible for Hawaii’s high real estate prices?

It’s a popularly-held belief here in Hawaii that outsiders are buying up properties that would normally go to locals and as a result, we’ve got some of the highest prices in the country.  Makes sense, right?  But is it true?

You can jump directly to that segment and watch the discussion here: Are mainland Haole buyers driving up the cost of housing in Hawaii?

Our special guest says “Maybe Not”

A recent report (pdf download) “The ‘outsider’ theory of Hawaii’s housing crisis” by the Grassroot Institute of Hawaii did the actual hard work of analysis and seems to indicate otherwise.

Watch this live-recorded show with Keliʻi Akina and join the discussion!

Keliʻi Akina is the President/CEO of Grassroot Institute of Hawaii and we were super lucky that he agreed to join our live show to talk about this touchy subject.

Our regular co-hosts Dylan, Heidi, & Scott were there as usual. Don’t miss it!

Here’s what we covered at this show – click any link and go directly to that segment

Show Start 8/19/22
Hawaii News and Market Update as of 8/19/22
Maui Market Update 8/19/22
Big Island Market Update 8/19/22
Where are reasonable prices on Oahu?
Oahu Market Update 8/19/22
Have prices dropped by 10% on the Big Island?
Is a 6 mo supply of real estate normal for Hawaii?
Will Big Island be able to handle Ironman this year?
What’s the best way to get started in real estate in Hawaii?
Are mainland Haole buyers driving up the cost of housing in Hawaii?
How does Hawaii’s out of state buyers compare w/ rest of US mainland?
How are out of state buyers defined?
How have land use restrictions changed on Oahu contributing to higher pricesd?
Reflections from Maui on what drives up the prices
What’s driving up prices on the Big Island?
The team behind the Grassroot Report
Shout-out from Dylan to Grassroot Institute
Closing thought from Kelii Akina, President
Maui 1/1 $470k
Oahu 4/2 fixer-upper $925k
Big Island 3/2.5 Hualalai Vista $2.1M
Closing motivational thoughts

Got a question about buying a home?

Give it to our experts and if we might answer it on our next show! Send it to us here

Show Transcript

everybody how are you this morning today is august 19 2022. i’m peter k and you
are on the aloha friday hawaii real estate show uh glad to have you we’re we’re going through our normal warm-up
over here we’re going to warm up with with our our friends we got scott startsman who’s with us from the un of
oahu we got dylan donaka who’s with us from the big island and we got heidi dellinger who’s with us from maui uh why
don’t we kind of warm up those microphones let’s start with scott we’ll go clockwise we’ll start with scott then dylan and then uh and then heidi there’s
a lot of kitchen background noise coming from somebody’s microphone i’m not sure who it is uh dylan it’s got to be yours
there’s somebody in the kitchen there may whatever they’re doing god bless them scott give us the update what’s the
shirt what’s the new plant what’s everything what’s happening yeah i’m back i just got back from my
trip i did um nine days in in idaho out in the out in the wilderness we did five
five day backpacking over over 40 miles with a zero day in there so it was brutal and and for me and most
people don’t know this i didn’t share this but i had long like long covered symptoms so i was hitting
fatigue for like three months to where it was debilitating i i would have to just stop in the middle of the day and
take and rest and so i had zero exercise before going on this trip and i was a little worried about
whether or not i was actually going to survive it i even redid my trust just in case so uh
but yeah i survived it it was it was brutal you know i my buddy that takes me he plans it i
show up with a positive demeanor and a strong mental attitude and that’s it and then we just go for brook and um but it
was awesome we did white water rafting too on the on the tail end of class four um whitewater rapid rapids which was
it’s probably one of the top five runs in the u.s so epic trip nine days no cell
so for me those last two years have been it’s been an ass kicker so for me it’s
this was a chance to rejuvenate unplug get away and re-energize and i feel good
coming back so it’s awesome oh welcome back buddy uh excellent good this is good to see you and uh there is
definitely a difference we mentioned where we were off camera you mentioning off the show uh you have a new camera
you can tell the difference the the so money money well spent does it make does it make me look better
you are us you are a smashing handsome you are a smashing handsome man if i may if i may say so myself hey listen if
you’re all just joining us um i want to give you all a quick we do have if you’re here for this special segment
that got a little bit of publicity uh we’re going to be having that coming up oh give or take around probably around
20 minutes after the hour uh that’s the show where we’re going to be talking about our how these foreigners in this
case our halley’s driving up the real estate prices and we have a special guest
akina who’s with the grassroot institute he’ll be joining us later the expert that will uh who is the executive
director of the ceo and president of that organization and he’s gonna be going over that report which really wasn’t an eye-opener so just want to
give you all a heads up uh for here’s before we get to dylan let’s let’s do our normal stuff over here and say hello
to everybody who’s been giving us a shout out uncle jim was here but he’s gonna take off so he said he pop but he
popped in his comment god bless you god bless you jim at 8 4 8 45 popped in his
comment aloha everyone i’ll catch this on a replay later jim welcome back on the replay auntie joyce is with us from
san francisco bay area i hope you’re having a good time there auntie joyce i hope you’re enjoying the foggy uh cooler
hopefully it’s cooler weather than hawaii joan is with us joan welcome back joan jones uh islander ohana alumni
aloha everyone ready for another great show i hope so joan i hope so uh god willing we’re gonna try to make it a
great show norm is back with us norm hey how’s it norm uh norm is also an alumni of the eleanor ohana missed the last
show had to watch the replay it’s just not the same so looking forward to today’s show that’s right norm it’s it’s
i mean it’s it’s recorded right we don’t have the interaction that we all do here where we can kind of have people giving
us their shoutouts and their and their hellos empty nesters well welcome first time uh first time commenters uh welcome
auntie nesters from hilton island hilton head island south carolina awesome scott
you’re you’re that’s kind of your neck of the woods or whatever right yeah in fact the um
so when i first went to move out here the buddy that came out with me that kind of talked me into it he said he was going to do an internship i said where
are you going to do it he said either hilton head um south carolina or he was going to do it at the hilton
wiki cola and i had to correct him say waikaloa and and at that moment when i corrected him he said how do you know
that and i said well we got a place down the street and he said let’s go and that was 23 years ago and here i am so
there you go excellent we’ll see how’s that a great great see empty nesters you’ve got a
connection right here uh judy welcome back judy judy everett weber aloha everyone aloha to you judy i am so glad
you’re here judy is also an alumni of the eleanor hanna will share is here aloha from st louis hello to you will
welcome uh auntie joyce scott’s looking right it’s the camera it’s all about the camera it it’s the cameras as scott says
you there you go you you’re you are a smashing handsome man here uh paul is back with us paul from ventura county
california welcome back paul paul you’re gonna like for today’s segment uh it’s about the uh what’s driving up what’s
really driving up the uh the housing prices giuliana is back aloha julian aloha friday all man everyone’s here
this is great i’m gonna get a rip through these uh uh patrick is back hello from germany 18 days to go scott
patrick gave us the announcement that he’s uh he got his condo on on oahu thanks to you 18 days the countdown
begins let everybody let’s let’s give patrick a big shout out in the and the countdown jessica is with us jessica is
an alumni of the elder honda jessica for today’s guest yes akina he will be joining us soon uh give
or take about 20 minutes after the hour um really looking forward to kind of seeing what he’s got to say about the
report was quite an eye-opener for me and kenai is with us from austin welcome kenai man the list is getting long hang
in there dylan uh mark is here mark is also an alumni of the honor honda jessica and can i by the
way jessica and kenai and mark are alumni aloha islanders island ohana members uh first time good
well first time’s the best time well not the best time first time is the first time of many hopefully uh supernova is
with us from new york city welcome supernova uh will is back anyone i’ve seen on board private uh i’ve been on
the pro yeah great question hold down one we’re going to get to that one later we’ll a will i’m going to come back to you about that i i did that it was great
uh short answer uh uh chow is back aloha again from massachusetts uh hot the hot
spots back all right bro how’s it how’s it good to see you man uh something you’re going to like today uh it’s it’s
related to housing in hawaii i think you’re going to really like that uh quick screenshot and the tease are
holly’s driving up the real estate prices howling in the cer and strict sense of a foreigner uh not uh not skin
color uh anyway uh and then finally uh we’re gonna give us gil yeah gil welcome back buddy all
right good all right i did my cue i said hello hold on dylan it’s your turn to warm up the microphone what’s the shirt
what’s happening i’ll keep it short since we’re uh we’re not two minutes over nine but i got the monohyde today another local design
brand nice it’s nice because you have to iron it and i had a short on time this morning so i just threw it on so i’m not
real good at ironing my clothes but yeah beautiful day over here in conan a little bit overcast it rained a little bit last night but it’s another
beautiful day in hawaii we’re just living the dream dylan we’re just living the dream that’s that’s all
that we’re doing thanks dylan uh the shirt looks good you know i would have never guessed you just threw it on and didn’t iron it so you know next time
just just keep that secret between you and me we don’t you know we don’t need to the millions of people who are
watching right now but anyway hey uh thanks for revealing that heidi give us the update what’s going on what’s the
coffee well i’m of course drinking my maui coffee this morning it’s a gorgeous
gorgeous day in maui and well first i just want to say welcome back scott that sounds like an amazing
adventure um i have nothing quite as exciting to report just a busy week working and i’m
super excited to go jump in the ocean later and take a swim so can’t wait
uh jump in the ocean and go for a swim right isn’t that the isn’t that the thing uh so this like uh babs
from idaho babs don’t you wish you were in yeah aloha back to you don’t you wish you were able
to kind of say what heidi just did i’m gonna after the show i’m gonna jump in the ocean uh facebook user uh there you
go aloha from illinois uh welcome facebook user uh facebook user you should know that heidi uh is a illinois
native as am i uh born in the city of chicago uh heather uh islander ohana
member uh alumni aloha from san jose quick trick back to the mainland hey heather well uh heather you’re gonna be
able to have that wonderful experience that we all say that it’s just the greatest thing in on earth to come back
home to hawaii all right uh excellent gang i appreciate it all let’s uh let’s do a quick um
let’s do a quick news a news update over here uh let’s kind of fill you in on kind of what’s happening i got some
things that i wanted to to share that i don’t try to be interesting if we can’t be about it uh hey scott what you talked
about earlier it’s it it’s happening the japanese are are coming to uh uh scott when you were away we thought there was
a story about japanese returning uh to the japanese tourism industry uh starting up and there was a story here
that uh apparently they like the big island uh it’s they’ve they’ve doubling their they’re up uh uh significantly
over uh previous years in terms of percentages so they normally see normally the big island gets about 10 of
the japanese visitors now they’re getting 20 of the japanese visitors that is a doubling of that so that’s
interesting would be dylan it would be interesting to see if that affects the real estate market on
the big island that will be interesting maui visitors uh you know there’s a there’s the one common theme game you’ve
all seen on the show which is you’re all gonna the visitors y’all gonna have to pay more uh here’s another one uh paying
the park so there’s all kinds of movement about uh they’re talking about making maui’s uh top destinations atop visitor
attractions beaches etc uh pay parking uh for visitors uh locals are gonna get
it for free business are gonna have to pay so that’s coming down the down down the pike group uh there’s a scott i
don’t know if you heard about this there’s a there’s an affordable condo tower that’s going up in honolulu uh this one is uh in in
uh on the uh omoku uh a street area i think what was interesting about this and this kind of relates to today’s
topic about real estate prices there was a great uh a great quote from one of the uh the the residents uh who is the this
was from uh uh the from the shin gun mission of hawaii the bishop rensuru said
we’ve been here for 110 years we’re about to be strangled by four 400 foot
condominiums traffic is bad the water in sewage is bad as you can imagine in the
neighborhood this old this is classic example not to say it’s right or wrong but this is a classic example of why a
development in hawaii is restricted hit hint on the cause of higher prices of real
estate in hawaii pele power so this is my favorite one uh on the big island uh there’s a group
called puna geothermal ventures they’ve been around there for a very long time and they generate power
that comes off of geothermal energy from the volcano um uh they’re they’re
cranking up their they’re they’re gonna um they’re cranking up their their energy output 36 38 megawatts to 48 to
60. i bring it up because we’re all by clean energy there is nothing cleaner than a pure energy uh heat coming from
the ground apparently there’s enough energy that comes off of the volcano that could heat the that not heat that
can power the entire state it’s not going to probably happen there’s all kinds of issues and maybe dylan can talk
about that been all kinds of controversy people don’t want drill welding and all that kind of stuff um but just thought
i’d bring that up and then finally low voter turnout reserves uh resumes to hawaii and i’ve got a ohana question for
you all gang so here’s the ohana question so here’s okay so the quick story is uh hawaii’s uh historically low
voter turnout is resuming even though we have an all mail in
election so everybody gets their ballots every single a registered voter gets their ballots in the mail
but we’ve returned to historic lows so here’s the question gang the the what is
the voter turnout percentage in hawaii pop it in the comments if you’re watching what do you think take your
guess in the voter turnout percentage what do you think was the voter turnout percent of the
primary election that we just held a couple of days ago it ended on
saturday all right i think that’s it for the news uh why don’t we kind of go uh counterclockwise on the updates uh we’ll
go to heidi and then dylan and then scott give us the update heidi you know what i should do this because i i even
made a slide for this darn thing so i’m gonna show the slide give us the market update what’s happening uh what’s
happening in maui heidi uh and uh yeah and any news you’d like to to uh to
chime in on sure well there’s a lot of talk about
the market slowing and changing which it’s definitely changed um compared to earlier this year
um when you really look at the number of sales closing and number of sales going
under contract i mean it’s still pretty consistent with what was going on
on maui for the last 10 years it’s just compared to 2021 which was an outlier i
mean huge number of sales huge spike it looks like things are way down but then
if you look from 2010 to 2020 i mean it’s pretty much kind of returning um to
normal times in a way if there’s something that’s normal
median and average sales prices are up for both condos and homes
appreciate appreciation shows some signs of slowing um single-family homes are still closing
at around 99 of their list price and condominiums are closing a little over asking price
100.3 of asking price um on average so
that’s what’s going on over here on maui um still a pretty robust market just
not quite as intense as we’ve seen over the past year
so it’s continuing this thing that we’ve kind of picked up over the past few shows where the market the market is slowing the craziness is out but but the
prices are still at the very least stable certainly not dropped by any significant amount dylan what’s the
update what’s going on on the big on buddy i think that was a great um point that heidi made about looking at the
historical numbers right because just like interest rates we as humans you only like remember the last six months of our
life right so we we base our entire future off of what happened the last six months and of course interest rates seem
like they’re high versus six months ago but the same is true of the the real estate market
the real estate market looks like it’s in in in you know to get a pretty hard hard downward turn if you put it in
context of six months ago but if you look at the last 10 years there’s nothing to be alarmed about and if you look at the last 10 years for interest
rates there’s actually a lot to be happy about because they’re still very very low but we’ve definitely seen a
a quick downward turn in the number of sales on the big island we had for homes you know a year ago 261 homes sold uh
this this month there was 181 so big drop in the number of sales the same is true of condos the same is true of land
um but median price is still up from a year ago and we are seeing that the finalists
the sold price is falling so we were at almost 100 finalists to sold price a year ago for homes and condos condos
were over 100 uh both have dipped under 100 homes are at 96 percent
now so like i’ve been saying you know this is the this is the time as a buyer to be in the market because you have
more inventory coming on the market way less competition from other buyers and the interest rates are not forever so
you can always refinance in the future that shouldn’t be a deterrent to buying at the moment so um we’re still you know
at very low levels of inventory but compared to a year ago there’s a lot more inventory almost like 1900
properties for sale we were at 1300 a year ago but if you look at months of inventory i mean it’s still only 3.2
months of inventory so um you know until we get back to six months it’s still a seller’s market technically from an
inventory standpoint all right so that same that same trend and i and i see scott smiling hey uh you
know we we got a question in that it’s related to our market segment uh krista from san jose said hey what areas on
oahu are offering reasonable sale prices how is the market looking on the big on well you scott uh dylan just gave us the
market uh update on the big on so scott as you kind of go through your market up they just give us a sense of answering
krista’s question of you know what areas on oahu are offering reasonable sale prices
go ahead scott yeah what’s the definition of reasonable right there you go yeah according to
what yeah i mean when you get into reasonable sale home prices you got to get outside
of the urban core because the urban core is the the dense the you know our more dense desirable area the
further away you go so you know eva eva kapolei and makakilo are going to kind of give still give you that urban
core effect but you know at closeness but yet get a little more affordable and the houses get a little newer otherwise
you got to get out in the country north shore leeward coast uh windward side for you to really have that discounted price
but it comes with a commute and it comes with less resources out that side so it’s a it’s a give and take
um as far as market goes i mean that heidi hit the nail on the head you know last
year was an anomaly so i i’ll give you this because this this really spells it out i went went went and looked back in
july 2019 right before the pandemic we had six 1621
homes actively for sale on the market and price went up 5.8 percent that’s a
normal market i i see us going back this is called we’re call i’m calling it the great normalization i expect interest
rates to start to normalize the historic level seven to eight percent range um you know the market in general starting
to get back to normal activity but we have a problem here which is inventory you can’t buy what’s not for sale and so
there are 1600 homes basically for sale on the market in 2019 with a five almost
a six percent price appreciation if you look in april to 2005
which is at the height of a big peak we were 814 homes on the market with a 25
price appreciation we have right now 625 active homes for sale on oahu so
way less so unless and here’s the thing in january we started with 425 homes on
the market now we have 625 are we adding inventory yes but it’s basically at 25
homes a month that’s three and a half years before we get back to what 2019 numbers are so there’s a problem here
with the inventory that’s going to restrict any any kind of pullback in the market and if you look on the condo side it’s the
same thing um and and what does that mean so right now what we’re seeing is
list of sales price ratios sellers are getting 101.6 percent of what they list their
home for more than the sales price their 60 percent of homes are being sold for over asking in 11 days on market on
average so you know yes cooling market less sales but there’s also less listings coming on
we have an inventory problem and it’s going to keep things strong for a little while we are heading back to
normalization but man it may take a year may take two years to get back to that normalization component
for perspective right it’s all insane this is the big island’s got like 200 000 people oahu’s got over a million
people and we have the same number of homes for sale 647 is what we have on the big island right now
so okay so it’s almost like it’s almost like if if we could say um a few months ago let’s say last year
when the mark when things were like just crazy hot it was like boiling we’re boiling water uh right now we’re just
simmering we’re just simmering so yes it’s cooled it’s cooled it’s not boiling it’s just simmering uh but you know it’s
still there so interesting hey gang um get your questions in now on whatever
you want to ask so i can kind of we can kind of hit it uh we’ve got a few minutes uh before uh he comes back uh and and joins us and we
got a couple questions here real quick uh from on norm norm falconer uh dylan seems like the prices are dropping about
eight to ten percent on homes in hawaii paradise park dylan you want to comment on that
yeah uh prices the homes in hawaii paradise park were overpriced by 20 so i don’t think they’re they’re
dropping it’s just sellers are starting to realize that buyers are not gonna you know pay 10 or 15 percent over what the
home should be listed at so um i got i got a assume we just just to
peace out that crack up so the horns were overpriced by twenty percent so now they’re just overpricing and and norm
let’s just take norm’s statement is true norm has has norm has observed that they’ve dropped by let’s say ten 10
which now means they’re only overpriced by 10 percent yes and the important data point to look at here because i’m getting i’m getting
this feedback from a lot of people right all i’m seeing is all these massive you know drop in prices
when you can’t look at the listed price right you have to look at the sold price the listed price is completely
irrelevant sellers can list their property for whatever they want it has no reflection on the true market value of the property so you have to look at
okay what are homes selling at and if you look at what a home is selling at we’re still we’re still up from a year ago so
um really you have to ignore price drops price drops are a good thing to show you okay that maybe the price is getting to where it needs to be and that’s the home
i should go after maybe i can negotiate more with that seller but that doesn’t have an effect on home value
it’s not a good measure of home value yeah that’s a that is a an extraordinarily good point you have to
look at the closing the price it actually sold for as opposed to uh the price it’s going for you know and of
course you know the the media and internet sites they like to engage us and get our eyeballs and get us to click so they’re gonna you know that’s what
they tell you is price drop price drop price drop and but they’re not talking about what is the closed price versus last year you know on a similar home
yeah yeah keep in mind the seller can ask whatever they want for a home right so
you know you know for a million it’s worth half a million right you know it’s kind of it’s kind of
fun that you guys mentioned because i used to actually do that same thing back when i was uh what i was looking for uh
the prices of cars and i would go to ebay and you know you could you could sort by the listing price but i would
always kind of there was a couple boxes and you want to check for what it actually sold for on the bid two
different stories two different stores all together okay we’ve got a couple questions uh uh we’re almost there uh
he is in the green room so uh kelly i see you there we’re gonna be joining we’re gonna be getting on soon uh uh the
hot spot kanaka kai says is a six-month supply really normal for hawaii
is that really normal gang no heidi says no so so
if you go to 2010 to 20 like 2020 that was it was much closer to that range five six months
we can go back and look but i don’t think we’re ever going to have enough inventory for the demand on maui i mean
i i truly believe that i think the inventory problem has been going on for
a long long time and i think on a past show i mean i’ve said
when when is a good time to buy a house it’s when you can afford it and that sounds you know really simplistic and
almost kind of funny but i mean it’s it’s so true i mean for the past
eight ten years buyers have been saying prices are too high prices are too high prices are too high you know and they
keep waiting and waiting um and i i mean there’s just there’s no
indication right now that all of a sudden everything’s going to be at a big discount i mean the market’s always
going to fluctuate a little bit but we just we have limited inventory i mean that’s that’s really
the most important point of the story yeah uh heidi that’s going to tie into what we’re going to talk about later so
you’re you’re very very true about that uh excellent uh let’s see there’s a couple things over here really quick uh
dylan uh what about the iron man is big i’m going to be able to handle iron man i heard the two-day format will create
major logistics hurdles dylan can you speak to that at all
it’s a major logistical hurdle no matter what i think two days are probably i think two days will probably
um it’ll be better for the athletes because it won’t be as crowded um you know it will be two days of
town being shut down and roads being blocked off and stuff but um you know i think that i think the net
positive for the community and the economy is probably much greater than it’s it’s easy for us like we just avoid town for two days i’ve never been to the
iron man so it happens here every year normally but um yeah it’s it’s a pain when the
roads get shut down and stuff and we’ve talked about in the past one of the the biggest challenges is
the athletes that come like a month before the train and they’re just totally oblivious to you know people on the road
and we always have athletes getting hit and you know accidents happening because um
people aren’t paying attention when they’re driving the athletes think they own the roads and and you know that becomes an issue so somebody gets hurt
which is unfortunate but yeah i don’t think i mean i think in a way it’s probably a better it’s probably a better format for the athletes so it’s not as
insane because if you’ve ever been down to the pier if you see it on tv and it’s a little tiny pier and there’s like 2 000 people trying to get in the water
and everything kicked in the face i even knew a guy like train you know training for six months and then i got kicked in the face right when it started and he
had to drop oxygen a big gas to go get stitches and stuff so you know dylan i can’t tell you how
disappointed i am and not know not hearing that you’re a try that you’re an iron man athlete uh in in stiff
competition with a couple of trophies on on your belt there is there’s nothing more boring in
life than riding your bike for like two hours and then running for two hours i mean i could do the swim probably no problem but that is just totally boring
to me this is more scott’s type of uh adventure and physical activities way more appealing
than just uh running down a long highway for two hours yeah yeah i’m with you on that one all right hey let’s get this
real quick out of the way uh for the hot spot who’s asking hey i’m getting my real estate license soon do you suggest
a self-paced from home course or in-class course i’m not sure i’d lose out on the content bonus info if i do in
class so that’s one quick question what what’s your folks advice you’ve all gone through this and one way should perform and the other thing is hey
what do you suggest i get myself on a successful sales team as soon as i get my real estate like well the hotspot are
you on moloka’i or are you on the other arms because i think we know who sales teams that you’re going to want to join if you’re on oahu or the big on or maui
uh gang you want to give the hot spot quick advice on kind of what what’s the best route to take on the on on the
course uh let’s go with heidi and then dylan and then scott real quick
i think it depends on you um when i first got my real estate license i did a
self-study course and at the time i had time to do it and it’s just a lot of
reading um it’s not very exciting at all you just need the discipline to get through
it when i got my broker’s license i actually signed up for a class because i knew
that would force me to show up and go at a regular time and get through it on a
specific schedule and i was really busy with a lot of other things so i thought doing the class
gave gave me some structure and i mean during the class it kind of depends
who’s in the class but you hear different stories about
real life situations that happened and depending on the instructor you maybe
get a little bit more context on some of the things you’re studying rather than just reading it by yourself
um but i mean sometimes it it feels like it’s taking a lot of time when you’re sitting in a class for three hours and
and people are talking so if you’d rather just read the book and knock it out i mean it’s fine too
all right quickly dylan uh in in course or or or online or or both or what
what’s your what’s your advice it doesn’t matter you just gotta memorize a bunch of useless information you’ll never use once you get your license so
whatever memorize a bunch of useless information you’ll never use in the real world
sounds like school to me scott what’s your advice yeah it’s it’s all depends on what you know if you can do the self self
training course online then and you got the motivation to stick to it then do it but the reality is is you’re not going
to come out of that understanding a whole lot about real estate and it’s more important what you do after that so you just got to get through the class
and pass the test that’s about it there you go like dylan’s advice get through the class past that heidi’s advice was good though the in-person
stuff gives you some stories things that you can kind of recall that that’s helpful but again that’s not the ques those aren’t the questions on the course
uh and he’s gonna be moving to oahu well you need to reach out to scott buddy that’s all i can tell you just like that
um all right gang good i think we got it and we uh she who laughs is laughing good i’m glad i’m i’m glad that she who
laughs is having a good time all right folks uh let’s move on we’re gonna bring on to to our our our sort of fun topic
for today uh this is the so a couple i i got a i made a subscriber uh it’s a free
subscription to grassroot institute’s uh newsletter and i got a really interesting uh a report that they uh
released which was answering this question uh is are halley’s driving up
real estate prices now by howl is here okay i’m looking at the not talking about the skin color version of holidays
which is also used i’m looking at this is the hawaiian dictionary i’m looking howly in terms of foreigner in the
strictest sense of the word so i want you all to understand uh what i mean when we say hallelu we’re not saying
about uh like typically white people uh we’re talking about foreigners in a strict sense of the word meaning
non-hawaii residents so big topic over here is that you know i can’t tell you
how many times on my youtube channel i get some comments from people saying yeah the reason why you know we’re local
folks are getting forced out of their homes is because mainland folks are coming in and taking their land or
pushing them out and driving up prices we hear this all the time and not just on my not just on my youtube channel uh
it’s also in the political phase it’s it’s kind of like all over the place you’re hearing this everywhere
uh and so what we did today is uh we brought a a special guest with us an
an expert in the field i want to hey everybody this is the first time we’re kind of doing this sort of thing so it’s kind of fun i want to introduce you all
to our special guest akina who is the president ceo of
grassroot institute this is the organization that wrote this report and i’m so stoked to have someone who can
kind of talk to it first of all aloha and welcome say hello to everybody say hello
to all that we got well aloha peter great to be reconnecting with you we go back many years and scott heidi and dylan it’s
been fun listening to all of you banter together you really know your stuff just really glad to be with all of you let me
just add one thing i just heard about the title of your program today i like to think that every time we use
the word holly we should always say beloved beloved howly oh beloved there you go that’s a nice
little uh that’s a nice little add-on i think if people did that that would be kind of cool and uh hey uh kaylee you’re
getting some alohas from uh from folks our our listeners here our great audience kelly is with us kelly is also
a member of our islander she’s an alumni of our islander ohana group as uh
jessica gives the bigger i know that jessica’s been been looking forward to this uh this this topic all right so so
let’s let’s kind of hit this gang uh so here’s here’s kind of what’s been what’s been going on what was interesting to me
kellyanne and i went i’d like to kind of get some back and forth on this was that i got a couple slides here again just to kind of lay out the delay of the land
real quick and i really want to talk about the data says no uh to the question are holidays driving
up prices our beloved our beloved holly’s driving up prices no uh again i’m using the word strictly in
the foreign sense how is the local buyers the was it some some interesting thing that stuck out about this report
and i’d like to get your your your feedback on this kaitlyn as far as what did you find that was most surprising about this report number one
hollister local buyers percentages dropped but prices went up from 2008 to 2021
and the other part the other big takeaway i got this report was land use restrictions correlate with high prices
nationwide so in other words it was land use restrictions more than anything else that correlated with with high prices
now here’s a couple of graphs here it’s going to be hard to see so if you look at this one on the right hand side
it gives you this is from the report uh the the trend of hawaii home sales by
percentage uh the buyers so that the blue line on top are local buyers the orange line on the bottom are mainland
buyers and then the little gray line is foreign you see there’s almost been no it’s they’ve been fairly steady percentages they’ve been uh up down up
or down a little bit but on the left-hand side you could see the price of real estate in hawaii over time we’re
much closer track into california and on the bottom right as i zoomed into the same
range of years uh from the graph above so if you look at the graph below prices
are definitely going up you look at the graph above the percentages are relatively stable that was one thing
that really kind of stuck out maui is a big one so heidi this is to you uh look at the difference of local buyers to
mainland buyers look at the differences in how the percentage have changed this does not track
this does not track the price increases in maui so if there was a correlation if in fact mainland buyers were driving out
local buyers and driving up prices you would see some kind of correlation between these two so that was really
surprising to me so what then and this was the thing that came out in the report what then is it three words land use
regulation you look at the scatter graph over here of the the plot it’s a plot of median home prices by state and also by
the land use regulations you look at hawaii upper right hand corner highest price most land use regulations so if
you all been watching this if you all been with the show this is nothing this is not so too surprising to us kaylee
what’s your take on this i’d like to kind of hear the story of you know what did you get out of this report what did you what was some big takeaways that
that you perhaps were surprised by or what’s kind of been the response or what else would you like to comment about
this report well peter thank you we were really having a lot of fun putting this together because it confirmed some
intuitions that we had you’re right there’s a commonly held myth that out-of-state buyers are the
ones who are causing our prices to go up and our scarcity to increase but that’s really not the
case when we look at the data which we like to do at grassroot institute we find that outside buyers actually
have been scapegoated here’s what we found in 2020
the percentage of outside buyers was only 19 and here’s the key insight that means
more than 80 percent of home purchasers were local buyers in fact we look at the data over time so
between 2011 and 2020 the share of outside home buyers in hawaii trended
downward and yet at the same time prices kept increasing and i’ll talk about that in a minute but let me let me point out
three things that are important to get from the study number one the percentage of out-of-state buyers
has been declining for more than a decade it’s number two the percentage of local
buyers has been increasing for more than a decade so when people drive by let’s say
kakaako and see the apartment buildings going up it’s instinctive for many to
say that must be foreign buyers but the data doesn’t show that the data shows what developers have been telling us all
along that the majority of purchasers are local people now this is very important to note our
study pointed out that across the country there’s no meaningful correlation
between a state or county’s median home prices and the share of out-of-state buyers
and because there’s no correlation uh you you can’t make the claim
that out-of-state buyers are actually driving up the prices of homes in hawaii or causing the scarcity now
what i want to do peter is point out why we did this study
it wasn’t just to get to the esoteric point of challenging this myth
it was so that our policymakers will actually stop blaming the scapegoat
of out-of-state buyers and start looking at the real causes as you point out land
use regulation is really the real cause it’s one of the many causes and i’d love to chat about that a little more but let
me give it back to you now it’s very important to realize that the
answer to the question why are hawaii’s housing prices so high and why is there such a scarcity
has virtually nothing to do with out-of-state buyers you know i i think i so it’s it’s
something that i mean we never chatted about that topic directly uh but if you go if people go back over the archives
which are all there you’ll hear dylan and scott and heidi chime again all day long
that you know it’s always about supply and and demand but i think and this is what i was so happy about
kaili it was that you folks you know talked on this this this has been a taboo topic that’s been very very
popularized you hear you see it all over the place and then that report you guys had all kinds of examples about
quotes from politicians of public you know public uh figures etc about it you
know it’s these foreign buyers these outside these out-of-state buyers who are kind of driving a price and that’s so in that and that is just not the case
now uh we got a couple of questions that popped okay first of all one thing i failed to do is i didn’t kind of give
any kind of a bio of you uh and i apologize for that you are the president and ceo of grassroot institute
people folks if you haven’t guessed by eli’s name he’s also a native hawaiian if i’m not are you still you use are you
still serving on on oha’s board office of of hawaiian affair uh uh
aren’t you focused right here uh although i’m not here today in that capacity i’m in my second term as a
trustee at large of the office of hawaiian affairs okay so gang it’s so we’re not just
gonna have anybody here right so this is this is you know a guy off the street who’s kind of ranting and raving about
the about the thing this is you know grassroot institute goes way back you guys i i characterize
you guys as sort of a non-partisan libertarian leaning freedom you know
free markets kind of a libertarian kind of a think tank that’s been around in hawaii for a long time how would you characterize grassroot institute
well peter you’re right we are a think tank but we’re more than that we also want to offer solutions and we work
toward good policy in the areas of the economy housing and other needs of the people of hawaii
we’re independent uh we don’t take contributions from any political parties
we don’t take contributions from the government we let the data speak for itself what we’re really doing is looking for a way
to find solutions to the the difficulties that we face here in hawaii
yeah and so it’s been great to see you guys policy and i’m i’m really thankful uh that we got someone a group like
yours to do that so thank you i want to give everyone some context on kind of who we were talking to and what kind of
authority i got a couple of quick questions that i wanted to point out from everybody here um the uh well first of all uh first of all
uh auntie joyce loves the beloved edition i thought it’s i i love it too it’s it’s awesome so uh you got a big uh
big shout out a big thumbs up from auntie joyce who’s one of our uh most dedicated uh listeners uh uh audience
members so well will says uh will gives his aloha as does as those norms so it’s kind of fun to see all the love over
here that’s that’s coming in mark whitehill asks got a question for us um mark is a member of our islander
ohana he’s an alumni of our eleanor ohana group great if i’m curious how does the percentage of out-of-state
buyers in hawaii compare with other states caitlyn can you speak that at all
yes our study actually goes to the data of all other states uh
we were very thorough in this because we wanted to make sure that we weren’t just talking about hawaii
and so i would refer you to the grassroot institute website to actually see that data
grassroot but in general it shows that hawaii has one of the higher
percentages of out-of-state buyers the key thing to point out is that as we
look at markets across the country that have high percentages of out-of-state buyers
it shows no correlation to the actual scarcity or the pricing
there are places that have high out of high percentages of out-of-state buyers where the prices are through the roof
like new york city but there are other places across the country where you have high up percentages of out-of-state buyers and
the prices are low you also have places like washington d.c where you have a lower percentage of out-of-state buyers
but you have high prices so uh that’s the key point to keep in mind but that’s a good question i’m glad that
that was asked yeah yeah thanks mark i appreciate that um i’d like to add peter you know this from
a comment you know you know me i love to look at stuff i’m not that smart so i could try and apply common sense right and yeah you’re not that smart at all
yeah know you just intuitively think okay where are people going right you hear a lot of people move to vegas moving to idaho
moving to texas you know these markets where there is affordable housing right so i would expect that there would be a
lot of out-of-state buyers per capita going to those areas and they would have and that’s because prices are lower
right so why would people be going to a high price place right and so it’s just kind of there’s
there’s a lot of counterintuitiveness in this it doesn’t so you kind of just generalize it
and say hey if somebody’s coming here your prices are going to be high you know dylan is absolutely right
everybody knows people who’ve got one story or another to tell about this and
so a lot of times we base our conclusions on anecdotes but we have to go to the data that’s
absolutely important and the reason that we’ve gone to the data is not so much just to dispel this myth of the
out-of-state buyer it’s because we want to shift the conversation we want our policy makers
to stop looking at scapegoats and instead to start looking at the real
causes of our land use our land scarcity and as you pointed out land use regulations is a big one we were really
pleased when you hero the uh economic research organization came out with its recent study
which showed that hawaii has some of the highest land regulation in the entire nation in fact we’ve got
the county hawaii county that has more regulations with regard to housing than
any other in the united states now that’s something that there’s a correlation between
high um regulation and high prices in housing as well as
scarcity that’s the real problem we’re facing in hawaii uh if we could solve
that problem and reduce our regulations we could open up a lot more housing
opportunities for example just really quickly our study links to other studies we’ve
done at grassroot and points out we could have a lot more housing available if we allowed more low-rise apartments
you see most of hawaii’s buildable land is zoned at the county level for single-family
homes so there’s little room for duplexes or four plexes or low-rise apartments uh we should change that
or perhaps we should start using a practice that other markets are using called buy right housing in other words
if you manage to show the the government authorities that your house is sound it’s gone through an
architect it’s jumped through the hoops there’s a pre-established checklist then
you can go ahead and build without having to go through hearings but the problem is that so many developments
have to go through hearings that it virtually shuts down development in many areas
another thing we can do is cut back on our permitting delays we could also require permits for a lot fewer projects
in many markets across the country you don’t need permits for re-roofing your house or
fixing it after a flood or putting in flooring or air conditioning and so forth
i could go on and i know our time is limited today so i’ll just refer to one of our studies
online which is build up or build out there are lots of solutions we should be looking at instead of naming scapegoats
for the scarcity of housing in hawaii yeah i think the scapegoating is is and that’s why i really i’m really so and i
want to thank you again for for coming and spending your time to come out and share this uh uh this report i it was it
was really the the scapegoating issue that i really enjoyed about it and wanted to share about we’re going to get some quest from scott and heidi and then
everybody else real quick uh patrick says a please define out of state buyer someone whose main home is out of state
or a transplant if i’m not mistaken please correct me if i’m wrong is that they they took a very liberal
look because it’s hard to kind of there are a lot of cases which are kind of borderline cases the idea would be if
you’re out of state and buying a home here you’re considered a a out of state buyer that was the uh the objective
criteria that was used right kately that’s absolutely right um you stated it
well and in the interest of time i just want to refer our listener to the study itself online at grassroot grassroot gang i’ve also got it linked extensively
on the one article i published on the website that went out in the newsletter uh you can go there but grassroot where you’ll find that and other reports and i want to definitely do the best i can to promote that uh auntie joan likes
the great edition so joan i’m glad that you uh that you enjoy that and uh uncle ray is here with us aloha from kailua
welcome ray uh and uh mark uh mark is enjoying it interesting uh hey our our
internal um uh uh jessica says love your solution of low-rise apartments duplex
etc what can we do to change public perception that these types of homes are going to ruin my neighborhood man that’s
the question jessica hold that thought everybody because i want to get some feedback heidi uh scott or dylan you
guys have any uh feedback chime in questions for okay anything you want to add to this what do
you want i want to bring you guys in into the conversation scott go ahead yeah i mean one one of the the biggest
things the land use restriction that if you look back at you know statehood was 1959 in the 1960s and 70s here on oahu
we were we were creating on average 14 000 new units per year for those two
decades and now we’re right around 4 000 and the reason for it is
land use restriction and we swung the pendulum from one side all the way to the opposite side to where um we’re not
building enough housing to satisfy the the demand that’s there and then you get the supply-demand thing but so 14 000
units to 4 000 years that’s a huge swing and that that right there just shows and
it came from the restrictions on land use yeah that definitely speaks to that uh
heidi uh you have any comments you want to uh chime in uh ask or or or be a part
of yeah thank you so much for being here i i thought the study was very interesting
um and it is important because i mean the general feeling among most people that i
i speak to here is blaming the out-of-state buyer for the real estate prices
so it’s it’s just an interesting perspective i actually did have the same question as patrick because
um even living on maui 20 years sometimes three generations doesn’t qualify a
person as local um so i was just kind of curious i mean if you move
move to hawaii rent for one or two years are you considered local or not i mean there’s
there’s definitely an integration of people from all different places here on maui and i
mean the whole local economy i mean that is a a much larger topic than i think we can
address today but it’s anyway super interesting and yeah thank you for your insight and looking at the
data is important so appreciate it thank you and
the only thing i’d add is that the out of state purchases on maui are largely uh on the ocean front uh
like in kihei and so forth they tend to be condos and so forth the real problem on maui is the lack of
homes for locals in the inland and that’s what we need to resolve
yeah thank you uh kaylee i love that that’s that and heidi you know i really enjoyed actually i was looking at that
part of the report the out of state part and it was like a very very straightforward because they they pulled this data from the bureau of conveyances
and the filings and uh the transactions that actually get filed and so how do you objectively
define an out of a foreign an outsider if your address is not hawaii we don’t
care whether you’re fifth generation or you’re you’re the you’re the kid that was born and raised in maui and went to the mainland to go to college and now
you’re if if you’re if your address if you’re if the buyer’s address is out of state you’re an out-of-state buyer uh
dylan is there anything you want to add to this i don’t know i guess i hate to bring it to khalid it’s like no news for us you
know [Laughter] oh absolutely no news for us yeah really
right absolutely you know like like i’ve said on a show many times before right less than four percent of the big island is zoned to build anything on so if we
increased one percent by one percent we’d have a 20 increase in buildable land that would
you know one fail swoop solve our affordable housing crisis it’s that easy but um land use restrictions restrict us
from doing anything and the public does the same thing we know we just had an election the same people who cause the same problems still get elected so it’s
like the p you can’t complain about the way things are and then continue to put the same people in office that are going to continue to do it the way that
they’ve been doing it so um yeah unfortunately dylan you’re absolutely right in what
you said earlier that we have another problem um and perhaps peter we can talk about it on another show and that is
that we’ve created an artificial scarcity of land uh because of our regulations we actually develop on only
five percent of the land mass in the state we we don’t develop on 95 percent and if
we just added another percentage point from the five we could have 20 percent development without harming
agriculture or the aquifer at all but that’s another story so add that to
the the real causes and we have more than enough reason to stop blaming the scapegoat of our
beloved howly as you put it beloved as you put it you put is beloved
which i love that that’s a great one kaylee do you have a few minutes i i there’s one more kind of discussion
question i want to pose but if you’ve do you have to go or can you stay for a few just let me know i can stay but i want to get this one um
shout out in the the team at the grassroot institute is just fabulous in terms of its
commitment to work and its skill and uh a young research associate of ours jensen
ahakovi did the lion’s share of the work in this project he did a great job i just want
to thank him big shout out to jensen uh big mahalo jensen i really appreciate you did the
you did your homework on that report and it was it was really kind of it was readable too it wasn’t that long i mean you know
it’s the old oh my god am i going to read this report yeah i download the pdf it’s pretty straightforward and by the way a friend of mine is watching uh
rocklin rocklin fridas it go okay there you go kaylee knows you uh
rocky go to grassroot and the reports like right there off the homepage download the pdf it’s actually
a pretty easy read um so look so well i’ve got a big okay it’s too big of a
question i think it’s too big so we’re gonna here’s what we’re gonna do we’re gonna do a cliff hang around the question the cliffhanger on the question is because
we have to move on and k lee’s got to get back to his his duties uh which i’m sure are multiple the the cultural question we’re
gonna do a cliffhanger for a future show which is and it really relates to to jessica’s uh question which is
what is it this is there’s a cultural thing going on a culture and we’ve talked about this
a bunch of times uh dylan has brought this up which is you know you ask people if they want
lower uh real uh more affordable housing everybody wants more affordable housing all the
political classes talking about affordable housing a bunch of races you know i’m going to focus on affordable housing they all want that but then when
we say okay great we’re going to build some houses we get that comment that that i brought up earlier from the guy in the neighbor saying not in my
backyard no no no no no i don’t if you ask people the the paradox right the paradox is we all want more affordable
housing but nobody wants more development right we don’t that’s the paradox that’s a cliffhanger we’re not
going to talk about that now i’m going to cliffhang kaylee thank you so much for for coming i i know that everyone appreciates it everybody
give everybody give a quick shout out uh to ke elii and his gang uh jensen who
wrote the report uh let them know how much you appreciate uh their their their efforts kately uh any final words and
we’ll uh say your final words to everybody before kelly signs off i’d like to ask you know grassroots is a grassroots institute is a non-profit
organization so if you appreciate the stuff that they’re doing you know go to their website you can make a contribution they have events but you
know that’s how stuff like this gets funded because they don’t take any government money so i’d like to make that shot well said well said pitch for
thank you dylan are you looking for a job as a pr director you can’t afford me
if you do your job we can afford you there you go perfect perfect response this is great i love it kaylee is there
any final words you would like to to share with you just wonderful to be with you and the
gang today you’ve got a great show and i just want to say aloha today is
statehood day let’s celebrate this wonderful coming together of the hawaiian culture the hawaiian people and
the united states of america aloha oh coincidentally today is statehood day that’s another topic to discuss the the
one holiday nobody in hawaii likes to talk about is statehood that’s another that’s another whole other cultural
topic kaylee thanks again uh scott dillon heidi say goodbye to kaylie and we’re going to resume our normal stuff
thank you all right aloha aloha we’ll see you later kelly thanks for coming
uh so that that was great hey gang hope you all enjoyed that i think everybody else over did uh patrick did elizabeth
riley awesome elizabeth glad you stuck with us elizabeth i’d like to know what your inputs are on this uh uh you are a
huge mover and shaker in in hawaii uh on big real estate issues you guys did a great uh recovery of some preservation
land uh on uh east oahu uh we got so great uh great stuff carrying some guilt
moving to the island see norm let go of the guilt let go of the guilt norm don’t carry don’t carry white guild not a good
thing there’s no place to go there uh patrick was happy jessica everyone’s loving it so this is a great excellent
gring i thought it was great i really enjoyed uh thank you auntie joyce and i hope you will all support grassroot uh
institute uh and uh gina all right gina that is one heck of a beautiful name there gina banchetta uben uber unga um
uber i i’m gonna blow that one so sorry gina love the name all right
i’m i i feel like having a cigarette now like you know i i kind of want to go in there but let’s do this so why don’t we
do a um let’s let’s do where let’s go into our diamonds and deals and talk about real estate the the problems that
we have picked out we’ve got a few minutes to go over here uh let’s see uh
heidi what’s this what do we got here heidi one bedroom one bath
yeah so this is a one bedroom one bath it’s a remodeled condo at mauilani
terraces which is located in honokua it’s right across the
street from the ocean you can walk to various beaches and
shopping and coffee shops which i love and it’s listed at 470 it’s fee simple
full ownership the hoa fees are 488 a month and include
everything including internet and cable um except for electricity electric would
be your only um separate expense and you have some views of molokai there you can see on
the top nice man for a one if a one bedroom is
right for you that’s that’s a winner i love the low hoa fees 488 and you get the pool that’s and and
it pays for you said everything but except electricity seems like a deal to me i’d say that’s a
i’d say that’s that’s a deal and a diamond i i guess they’re all diamonds and deals right as dylan had brought up everything that we do is a
diamond and a deal uh because if it if it wasn’t a deal it wouldn’t be a
diamond if it was a diamond it wouldn’t be i’m not too sure anyway they’re all down i don’t know if scots is a diamond but it’s probably a deal
it’s it’s a yeah and that’s what makes it a diamond no anyway okay now go ahead scott what do
we got here ylai nui fixer-upper what is it yeah definitely fixer uh 925 but uh
yeah and you can see i mean that the upper left is like the original kitchen from even has wallpaper in the kitchen
and i do love that full stainless run on the countertop that you don’t see it’s from like 1950s 60s right in that era
and then the unfinished portion down um that’s the second picture on the left and then wood paneling who doesn’t love
wood paneling so this is obviously a fixer-upper but the potential possibly over that
carport area or garage area for a separate kind of maids quarters whether
you could turn this into a legal adu or not you’d have to run your plan checks but for 9.25
it’s actually a pretty good price for that area i figure uh me budget well i’m actually going to
look at this with so for me and my investors we just repositioned all our capital and we’re back in the market so
i saw this i’m going to look at it sunday i thought it was potentially a good opportunity at this price point put 150 grand into it doing a lot of stuff
and you know you’re basically one one one somewhere right in there fixed up that’s
a very good value for for these neighborhoods well you can say wai lai nui is a nice area right it’s a pretty high pretty
high-end area so there’s some nice upside with you know that yeah i got to tell you uh scott that that wood paddling brings back those brakes this
is this is like a brady bunch house man this just brings me back to the brady bunch on that’s i don’t know why again
i’m just thinking about the brady bunch uh i’m looking for that special tiki to wear around someone’s neck uh hey
excellent thanks uh thanks scott uh excellent one dylan what do we got here well a three bedroom two and a half bath
one little bit of a little bit of a view right no just a little bit
yeah like literally like a you know 270 degree view i mean this is your your classic hawaii home um it’s on one acre
just beautiful finishings all the way around you can see in the top you know top left there kind of just sitting out by itself lots
of privacy um and just a crazy sweeping view um and this you know at about a thousand feet elevation so it’s going to
be cool year round you don’t need any ac um just a just a really really nice
property and you know for 2.1 you can’t get something like this on on the other islands so especially with an acre of
land and that’s crazy that is that is crazy
the the property description on this had a great thing it’s uh this is something about this is a this is in the
tens it’s 10 minutes from the airport 10 minutes from costco and 10 degrees cooler from the the shoreline so i
thought that was really good marketing piece so shout out to yeah you’re not kidding well i’m saying in one more ten it’s a ten of a property right now
yes yes yeah yeah geez and you had mentioned this earlier if i’m not mistaken from my memory uh who are the
live vistas is a it’s a highly a desirable area on the big on if i’m we have a lot of these you know um gated
kind of higher end communities that are on one acre ag lots and so this is this is one of the the many that we have kind
of in the upper highway above the airport in kona so yeah super nice neighbor i mean all the homes in the
neighborhood are going to look like this um and uh just ideal place to live you know from an elevation standpoint and
proximity to everything in town unbelievable uh unbelievable great awesome hey gang hope you all like these
were these are all great uh great properties a little great variety all over the place all right let’s let’s let’s head into our let’s head into our
closing thoughts as we bring the show to a close this this you know i again i i’d like to get your feedback as we all said
goodbye what did you think of having the special guest is this something that we should kind of do more of it in the show
does they did it kind of break it up for you a little bit was it interesting is it worthwhile uh i’d love to get your
feedback on it what did you think of as well uh the topic love to get some feedback on just kind of throw some
comments uh and we’ll uh so and i’ll read those after the the show if you don’t have time all right dylan what do
we got what’s the quote and why do you like it yeah well it’s funny that i didn’t really plan it this way but it kind of
applies to the show today right where focus goes energy flows and there really isn’t a lot of focus on actually solving
our housing problems in hawaii you know we like to focus our energy on scapegoats and stuff that doesn’t really exist and so that’s why i think you know
where we’re where we are but just true something is true in life right wherever you focus is where your energy is going to go so
choose your focus wisely you know i’m curious where did you get this from because i i’ve got an
interesting kind of statement i want to make on it this it’s a good one i love it where’d you get it from you know i i don’t know because i’m a i’m a i’m a
a habitual ripper offer of of good quotes online i have a google doc that has tons of these you know so i collect
these i love this stuff and so i i i rarely i use them all the time and when i give classes and stuff and i always tell people like
sorry if i’m not attributing this but i do a really bad job of keeping track where i get this stuff from so the reason why the reason why i i ask is
that this is a this is one of uh uh sort of the fundamental value of a shamanic
tradition a polynesian shamanic tradition it says it in a little bit of a different way it says energy flows
where attention goes so it’s almost like the reverse it’s just about the reverse thing but it’s a uh certainly a truism
uh excellent thanks dylan i appreciate that uh let’s see this uh i got my proverbs uh scott or you
know i uh you know scott and heidi i don’t have your slide showing but uh why don’t you kind
of share with me what your what your thoughts are anyway scott why don’t you go ahead next
yeah i’m not it i think it’s hidden so it’s there i can’t can’t remember what it was so
so all right so hold on guys so hold on gang uh technical difficulty we’re gonna we’re gonna unhide it right now just
just just give me a sec here gonna you know right before your eyes you know uh yeah here we here we go okay uh there
you go scott what’s your quote and why do you like it yeah don’t limit your challenges challenge your limits i mean me coming
back out of the out of the woods you know it’s that’s not me that’s not my
style it’s the second time ever backpacking camping and stuff and but that’s kind of how i live my life it’s like hey what what can i go after next
what where how can i push myself what more can i learn how can i um just grow
as a person and that kind of quote just leads lends towards that you know i’m always looking at challenging my limits
and you put put something in front of me whether it’s you on the real estate side wanting to hey here’s what we’re looking
to do great let’s figure out if we can do it right and moving to hawaii in and of itself is
a difficult decision and a big big challenge you know so don’t limit yourself go for it right
i i love the i love the twist of the words don’t limit your challenges challenge your limits those are those
are fun and it makes it kind of fun and memorable and i’m certain dylan’s gonna copy this one and pop this in his notebook if he
hasn’t done so already excellent uh dylan look in your you know in your notebook just take the book of proverbs
that’s just take the whole damn book and uh you’ll you’ll love it anyway okay that’s sorry that’s my that’s my bible
thumping hey uh heidi what’s yours and what does it mean to you
joy is an inner contentment despite all circumstances so i love this quote because this is a
reminder um just to myself of how i want to live and if something happens and you have a bad
day it doesn’t mean you need to be angry and upset you can choose to
live in a way that’s joyful and fulfilling and it just makes things better and helps you deal with
the ups and downs that are inevitable and i like to be joyful so
well said well said i i think that i think what sticks out to me on this one is is the word despite that’s right so
it’s easy to be joyful it’s easy to be joyful if everything’s perfect that’s easy that’s almost cheating right that’s
almost cheating uh the thing is to be joyful despite all circumstances and uh
well said heidi thanks for a uh thanks for a a great quote hey gang uh the
comments are fantastic i i’m getting all the uh positive comments on it um and it’s a bit and uh auntie joyce i love
the special guest but miss extra time with my friends yeah that that is uh that that is a price um i’m not gonna go
over all the comments for the show’s almost over but i do i am going to read through every one of them and i really really appreciate that and this does uh
have an effect on what we do in the future i’m going to close with with my y’all know and give you my proverbs this
one was interesting because it was almost a counter one to uh to the success sort of doctrines that we get
sort of all over the place uh proverbs 23 4 says do not wear yourself out to
get rich be wise enough to desist and i think it’s to say don’t wear yourself
out right it’s all part of the journey you if you’re going to get there you’re going to get there in a
sort of a positive way if you have to wear yourself if you have to wear yourself out literally uh you’re doing
something wrong it shouldn’t be that way it should come in in a different way uh and i thought that was a little interesting sort of a uh counter uh
cultural sort of a way all right gang uh great show everybody and uh
jamila agrees i i agree to uh and uh joan joan loved it yeah uh
uh make today so awesome yesterday gets jealous oh that’s it i love that i love
that i love that that’s excellent excellent excellent uh and uh ray says let joy be your compass aloha y’all
aloha to you to uncle ray all right gang say goodbye everybody we’re gonna go clockwise scott then dylan then then
heidi say goodbye goodbye everybody good to be back hello everybody have a great weekend
happy stay today aloha have a great weekend have a great weekend happy statehood day
scott well welcome back scott y’all y’all take care aloha everyone bye-bye