Regardless of your age, living in comfort and safety is a priority. And, if you are a senior citizen, even more so. Do you know that the U.S. Census Bureau estimates that the number of people over the age of 80 will increase from 14.7 million to 18.8 million by 2030? That’s just five short years away. Since 84 is the median age for entering a senior-living care facility, it stands to reason that demand for senior-living care facilities is on the rise. But, there’s a problem. Demand for senior housing is far outstripping supply.
According to the National Investment Center for Seniors Housing & Care, “The industry needs to ramp up development for supply to catch up with demand.” Unfortunately, more than 564,000 new senior-housing units are needed to meet demand by 2030, but only 191,00 will be added at current development rates. Yikes!
Without massive construction efforts – which seem unlikely given current economic and market conditions – the senior-housing shortage will force older adults to get creative about their housing and care needs.
Just what will that creativity look like? It remains to be seen. In Hawaii, we already see a lot of multi-generational living situations and we anticipate this trend will continue. We also see a rise in Accessory Dwelling Units (ADUs) or Granny Flats. These are smaller housing units on a larger property, which can offer a comfortable and safe option for seniors to live independently while staying close to family. House sharing is a possible option, as well. Seniors can share a home with other individuals to reduce costs and enjoy companionship. And, of course, there are several organizations that help seniors stay in their existing homes longer, including the Executive Office on Aging, Catholic Charities Hawaiʻi, and the City and County of Honolulu Elderly Affairs Division. These groups offer a range of services, including in-home care, transportation assistance, and information and referral services.
Being safe and comfortable in your living environment is important for everyone. It is especially crucial for our senior citizens. And, there are no easy solutions. We must all work together collectively and creatively to achieve safe and healthy housing outcomes for our precious kapuna.
About the Author
Cherie Tsukamoto
Cherie Tsukamoto is a REALTOR Broker, Broker in Charge, ABR, CRB, CRS, GRI, MRP, SRES with Hawai'i Life.
You can email me at CherieTsukamoto@hawaiilife.com or via phone at (808) 227-2216.
This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure. Copyright, 1995-2015, REALTORS® Association of Maui, Inc. All Rights Reserved.
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