Foreigners Face Banning from Hawaii Real Estate Sales – Proposed Bill Aims to Boost Affordable Housing, US

A bill proposing a ban on foreigners from purchasing land in Hawaii is set to be discussed in the Senate on Tuesday. The legislation, introduced by Senator Brenton Awa, aims to address the issue of affordable housing for local residents. Senator Awa highlighted the significant increase in home prices during the pandemic, largely due to non-residents buying properties with cash. He believes that banning foreigners from purchasing homes and property on the islands will help to stabilize housing prices and create a fairer market. However, the state attorney general has expressed concerns over the constitutionality and legality of the bill. Despite these concerns, real estate developer Peter Savio supports the bill and emphasizes the importance of confronting the impact of outside demand on Hawaii. If passed, the bill would also require foreign entities and individuals who already own land to register. Supporters argue that this is a necessary step to protect the future of Hawaii and its people. The bill is scheduled to be heard by the Senate on Tuesday at 3 p.m.