Adaptive Reuse: A Pathway to Making Home Ownership Affordable in Hawaii

Hawaii’s housing market has long faced challenges, with a shortage of affordable homes and growing demand for residential space. At CPB, we believe in finding innovative, sustainable solutions, and adaptive reuse is a key part of that vision. 

What Is Adaptive Reuse?

Adaptive reuse transforms vacant or underutilized commercial buildings into much-needed housing. By repurposing existing structures, developers can create more housing quickly and efficiently, reducing the need for new construction. In Hawaii, where developable land is scarce, adaptive reuse provides a practical solution that aligns with our commitment to sustainability and responsible growth. 

Act 37: A Landmark Moment for Hawaii Housing

The passage of Act 37 in 2024, supported by CPB, marked a turning point for adaptive reuse in Hawaii.  

“Act 37 provides a sustainable path to increasing our housing supply while preserving the cultural and historical integrity of our urban spaces.” says Cathy Camp, CPB’s Executive Vice President of Real Estate. 

Why Adaptive Reuse Matters

• Affordability: Repurposing existing structures reduces costs and time compared to new construction, lowering housing prices. 

• Sustainability: Repurposing buildings helps reduce waste and limits the environmental impact of new development. 

• Preservation: Many adaptive reuse projects maintain the character and history of Hawaii’s architectural landscape. 

CPB’s Commitment to Adaptive Reuse

CPB is proud to support adaptive reuse through advocacy, financing, and community education. Projects like Davies Tower and 1132 Bishop are already transforming spaces into homes, fostering stronger, walkable communities. 

Uncover valuable insights on how CPB is helping create pathways to home ownership in Hawaii.  

Sponsored by Central Pacific Bank. Member FDIC. Equal Housing Lender.