REQUESTING THE UNIVERSITY OF HAWAIʻI ECONOMIC RESEARCH ORGANIZATION TO CONDUCT A STUDY ON THE POTENTIAL IMPACT OF THE USE OF TAXATION AND EMINENT DOMAIN ON THE PRICE AND THE AVAILABILITY OF HOUSING IN THE STATE TO ADDRESS THE CONCENTRATION OF RESIDENTIAL PROPERTY OWNERSHIP AMONG OWNERS OF VACANT AND SURPLUS HOUSING AND INSTITUTIONAL INVESTOR PROPERTY OWNERS.

SR 126 is a Senate Resolution requesting the University of Hawaiʻi Economic Research Organization to study how taxation and eminent domain could affect housing prices and availability. The study would specifically examine impacts on vacant/surplus housing (properties not used as primary residences or unoccupied >6 months) and institutional investor-owned properties, which contribute to Hawaii's housing crisis. It does not enact new laws but seeks analysis of potential policy tools to address high vacancy rates (14% statewide), out-of-state ownership (20% of homes), and institutional investor impacts on housing affordability. The resolution cites existing data showing housing shortages, high prices, and homelessness as context for the requested study.