Hawaiʻi County will now pay less than expected to buy out second homes from those affected by the 2018 Kīlauea volcanic eruption.
The Voluntary Housing Buyout Program allows the county to buy property or land impacted by the eruption to maintain the sites as "open space." To do so, the county started with $107 million in federal Department of Housing and Development funds and planned to dole it out in three phases.
In phase one, the county said it acquired nearly 300 homes at an average price of $192,000.
However, the county now has about $38 million left to acquire the remaining 500-plus applicants.
With a focus on low to moderate-income owners and those who lost their primary residence in the eruption, the county is now capping offers for secondary homes and long-term rentals at $142,000. That is about $90,000 less than its previous highest offer.
The amount, while not exceeding that limit, will be based on the pre-eruption assessed market value from 2017.
Owners of undeveloped property can still receive up to $22,000 for their land.
"These changes ensure that all eligible phase two applicants will receive assistance, and even give us a chance at serving a portion of our phase three applicants with undeveloped properties,” Mayor Mitch Roth said in a statement.
Disaster Recovery Officer Douglas Nam Le said that the program has seen a "significant demand" for buyout assistance.
A virtual public meeting will be held on Jan. 30 at 11 a.m. To attend, click here or visit the county's recovery website.
