Hawaii Young Professionals Seek to Prevent Peers from Leaving State Due to High Cost of Living
The Chamber of Commerce Hawaii’s Young Professionals Program will hold its second annual Cost of Living Summit on October 25, 2024 at the ‘Alohilani Resort Waikiki Beach.
If you ask a millennial or generation Z resident of Hawaii, they will likely be able to name peers, friends, and family members who packed up their bags and moved to the continental U.S.
Since 2017, Hawaii has faced an annual net outmigration, which has disproportionately affected young adults, ages 25-34. According to DBEDT, this group represents only 13.8% of the state’s population but accounts for 24.3% of total departures.
One of the main reasons that people are leaving: the high cost of living.
Photo: courtesy of Chamber of Commerce Hawaii
“What I once thought was a non-negotiable plan to stay in Hawaii to raise my family is rapidly becoming more questionable,” said Alena Kangas Auyoung, a 34-year-old Honolulu resident.
“Without significant changes to the cost of living, my family may be left with no choice but to leave Hawaii despite our desire to stay here.”
Hawaii has the lowest millennial homeownership rate in the U.S., which is no surprise given the state takes the top spot for homeownership costs in the country. Hawaii also is the most expensive place to raise a child.
Photo: courtesy of Chamber of Commerce Hawaii
The Chamber of Commerce Hawaii’s Young Professionals Program aims to address Hawaii’s rising cost of living and its impact on the islands’ young professionals. The group is organizing its second annual Cost of Living Summit, presented by Tradewind Group, and will convene over 150 young professionals, policymakers, and community leaders to explore opportunities to make Hawaii more affordable.
Participants will benefit from interactive sessions featuring notable leaders such as keynote speaker Governor Josh Green and more than a dozen legislators. The Summit will also include financial literacy workshops and in-depth discussions on housing and workforce issues.
Cost to attend is $65 for the general public ($50 for members). Discounts are available for early registration. For more information, visit the event website.
