These Are The Billionaires Buying Hawaii
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- Опубліковано 17 лют 2024
- America’s richest have been buying in Hawaii for years, but no one knew exactly how extensive their holdings were. To figure it out, Forbes spent months digging through thousands of property records on Hawaii’s six biggest islands. The results were astonishing: Just 37 billionaires own at least 218,000 acres. That’s 5.3% of the state’s total land and 11.1% of all non-government-owned land-though it is likely even higher given the lengths to which these billionaires go to obscure their ownership. Expressed a different way: Those 37 people, equal to just 0.003% of Hawaii’s total population of 1.4 million, own more than 10% of its land.
With billionaires like Oprah Winfrey, Mark Zuckerberg and Larry Ellison buying up so much real estate, locals are wondering if Hawaii is becoming a playground for the rich.
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If you have something beautiful, rich people will always come in and take it away. As a Jamaican, I would know.
The resorts are killing commerce for the average Jamaican who used to profit. Now the tourist don't even step outside the resorts because the resorts are all inclusive.
@@Synoopy2 no it’s because they’re afraid of getting robbed and harassed by certain locals
I see, so when the white man left the island long ago, the blacks got the island for themselves, apparently that’s not good enough for you. New problem is: Now ‘rich people’ took the beautiful thing away, as you said. They only blocked off beaches the hotels are built on, I guess that’s what you’re referring to.
lmao. jamaicans should be greatful for all this!!! we rich foreigners give you jobs. you should be greatful for every penny we give you
@@utubechannel3846 what indigenous people Jamaica has no indigenous people.
This has been going on for decades since the Big 5 owned and operated in Hawaii. Owning Hawaii has deep deep roots and pockets.
Wrong, Asian Settler Colonists own Hawaii
LOL 'ae and not as reported in this article
And this is no different than the land owned everywhere else in the USA essentially. This is not a Hawaii issue. Everyone wants to own their house and land.
yeah and everyone and the molepo wants to be one chief
yes, land is power in Hawai'i
Hawaii should dramatically increase land taxes on owners greater than 100 acres and publicize a land registry so that these billionaires can't obfuscate their holdings in layers and layers of LLCs. If possible they should force sale of this land to the State so it can be publicly owned and cared for instead of squirreled away by greedy parasites
not allowing corporate entities or partnerships to own property would require a change in federal law. You can't do that at the local level.
That's not what I said. Read again. My suggestion was to publicize a land registry so the ultimate ownership of any land is known. What happens now is that any time a billionaire buys land or property they found a LLC with a generic name and that LLC is then owned by another generic company which itself is owned by another generic company. They hide through layers and layers of bullshit. That's unacceptable.@@S0ulinth3machin3
I was with you until the "states should own and care for" part.
but increasing taxes 10x on land over 50 acres is totally within the state's authority.@@S0ulinth3machin3
And this is no different than the land owned everywhere else in the USA essentially. This is not a Hawaii issue. Everyone wants to own their house and land.
Man the world is fucked beyond repair.
oh wait, you really thought the world was fair?
@@EuroWarsOrg That's not what he is implying here..come on........
@@chntnpbr so he is not a commie? Phew!
If Hawaii wanted to avoid this, they should have a maximum parcel size. If you have giant tracts of land in a beatiful environment, then of course it's going to be the wealthiest people who end up owning it.
INCREASE the property taxes for anything above 2 acres, a normal family living space.
It's almost like there's groups or individuals that are out there too somehow wine and perhaps dine politicians in order to get what a small group of individuals want
@@davidb2206 ummmm . . . . that would actually exacerbate the problem. You and I would never be able to afford the taxes.
@@S0ulinth3machin3 How would it exacerbate the problem if I live on ONE acre or less and so my property taxes are reduced or eliminated? Did you not understand the proposal? Only taxes would go up for those owning a parcel/deed of MORE than 2 acres. As they should.
@@davidb2206 it would exacerbate the problem of wealthy people owning all the large parcels. They're the only ones who can afford it now, if the government makes it more expensive to own a large parcel, then it amplifies it.
That's making the assumption that raising taxes on large parcels is with the purpose of trying to make the distribution of land more equitable.
We live in Waikiki, and we pay $5000 a month for a one bedroom. The prices here are insane.
You're paying too much. Tons of one bdrms available for half that or less.
I mean it's a nice island so the price makes sense.
Move
How can you afford? Jobs there must pay well.
pay isn't good in oahu.@@fu9793
You can't tell me that fire just happened.
Colonizer controlled agriculture set the stage for dry lands.
Fires do just happen, but not this one look at the film clips of the fire they said 80 mph winds but then they show people in the ocean to escape the fire and there's no waves.
DEW
Absolutely..... 💯 the D&C is completely to blame at this point.
WHAT ARE YOU SAYING BRO?
As a Hawaiian, this makes me so sad for Hawaiians. I know so many people who have moved away, myself included, to be able to start our career and hopefully make it back home with a good chunk of money at a decent age. If we had stayed, it'd take so long to be able to afford it
That is just sad , you need more laws to restrict the buying the of land by non-natives .
Non-hawaiian residents shouldn’t be able to buy whereever they want - there should be designated zones and fixed area they can buy per individual.
How many years do you have till then?
I feel the same way, I left home with hopes of returning back to live my final days there. :( these billionaires can buy up hawai’i but they will never be welcome to our community…
@@donnagelina8548as house prices go up each year, that finish line keeps moving. until i can afford a $1 million home comfortably, i cannot move home :/
Blue Eyed Hawaiin 🤙🏻🤔
Hawaii has the lowest property taxes in the nation. It makes zero sense why, a place where land is so limited. We barely tax the land and encourage foreign investment with our low taxes while we tax the working man into oblivion.
perhaps they don't need it because of taxes on tourism revenues? hiking property taxes is only going to hurt ordinary hawaiian.
cuz foreign investments brings value it gives a high returnbut a working man doesn't, it's the unfortunate reality
It makes a lot of sense. They must keep property taxes are low, because cost of living is among, if not the highest in the country. Most locals cannot afford to own property & have to work 2-3 jobs to make it. So higher property taxes would even further exclude the local population from home ownership.
Crazy to think for a blue state.
@@tw238but at the same time, if all the value being poured in is tied to real estate, the low property tax means it’s more profitable to invest in real estate rather than other ventures which would pay higher salaries
Yeah billionaires are buying up Hawaii but who is selling it.....!?
Locals. Who else? A local owns half an acre, another a whole acre, then comes a billionaire and offers them millions for their small patchs and put them together to create a ranch or compound or whatever
@@hodisfut Yup and that is how it is.
Hopefully they are buying out the Japanese.....
Lahaina victims. After their neighborhood was torched down by energy directed weapons.
Don't forget how little the US government did for the citizens of Lahaina. This was probably just to force them to sell.
High prices, fires will push peasants outside Hawaii so I the rich folk can live. Thank you for voting
Any news on Lahaina?
@@johnwilliams3555 everyone forgot lahaina. Now we can start buying land
@@Kuziai Are people selling or will they re-build?
Native Hawaiians just waiting for the next disaster to stop further development
very coincidental fire
It's not for a playground.. it's a safe haven for when everything goes bad on the mainland due to the things they are doing.
What is happening in Hawaii is disgusting and in human
Remember when you called everyone "far right conspiracy theorist Trumpers" for saying this exact same thing minutes after the fire ????
increasing taxes 10x on land over 50 acres is totally within the state's authority.
What caring nice things do you think the property owners would do 'for' their tenants if that were to happen?
@@Ralphfilitheyd lose their wealth quickly and end up having to resell the property
@@Ralphfili No one wants to be tenants. They want to be home owners.
You would think they would be helping the Hawaiian natives to make the islands more sustainable for them also.
For what?
You would think that unless you realize that no good people horde billions for themselves.
@@Ter9393 To preserve the Native population. It's a humane and civil and life-saving endeavor.
But you wouldn't care for such charity and a safer planet.
You don’t understand how billionaires only care about themselves. Even when they give is to make themselves look good. Maybe save in taxes or something.
@@markuse3472 he meant what would that gain them? They became billionaires from being greedy not charitable
Volcanoes don't care how rich you are! 😂
So true!
Its gratifying to know the choicest of pristene lands are reserved to be enjoyed exclusively by the richest among us.
And now... back to the mines
The locals are being
pushed into the sea.
Actually the desert…LV
Or the fire...
Great
@@genito1 erm- go
From the river to the sea
Oprah’s mugshot should have been on your thumbnail
I knew this video would be legit when I heard the marimbas at the beginning.
lol
They sold the land, but now after getting money from the land they want it back to sell again.
Agreed.....marimbas are a very serious sound that conveys extreme levels of seriousness.
Bring back the Eisenhower era tax rates on the 1%, 50% tax rate and rebuild the country for the sake of the country.
That does not work as England discovered, their one percent left.
It has been the land for the rich for such a long time, not just high earners who work a high paying job, but the rich that have won the game and live off their wealth, so expensive to even just visit.
They usually "have won the game" by exploiting others, think Jeff Bezos.
This was very informative. Can you do something similar for farmland? Billionaires and millionaires buying it up and the "middle class" renting it.
This is the way forward, unfortunately. Feudalism 2.0. You will own nothing and be happy.
Farmland is slightly different because farming is a classic economies of scale situation were small family farms can simply no longer compete. You either grow into a large farming operation or your farm dies off and is bought by one of those large farming operations.
@@2011blueman Yet there are people making a living on a couple of acres.
There’s just no way Oprah got 850 acres of Hawaii for 6.4 million dollars. That’s 7500$ an acre, that’s just robbery. Whoever is selling at those prices please show those offers to non billionaires or someone who is willing to pay a reasonable price
A lot of them bullied locals into selling their land after the fires when they lost everything/struggled to rebuild. It was a whole controversial thing back then with locals going online talking about it then getting their posts taken down.
she burned it first.
@@johnsmith-un2mx Yep, and there are still a lot of kids missing. The whole thing was very weird and strange
@@johnsmith-un2mxher land is on the other side of the island
Farming cattle is so unsustainable when there isn't that much land for natives to live on
Beef is totally un-necessary in Hawaii anyway.
Hawaiians lived here for centuries with no cattle whatsoever.
This is happening across the entire country, just at a slower rate. Federally, something needs to be done to stop this.
Ironic that the fire didn't burn any millionaires homes.
The continuous music makes it too difficult to listen to the narrator.
Maddening ! Happens everywhere unfortunately ....
As long as those uber rich buy islands, i as a Dutch person don't worry about rising sea levels.
If only there was a way for them to clear up the existing real estate in a very short time period.
But who knows?
🔥
#nailedit
Eat the rich is really starting to sound more and more appealing.
Now I understand why Hawaii is completely unaffordable to both live in AND visit. So sad.
True
So that’s what the Maui “wildfire” was all about?
What a fabulous & true video. Best of wishes to you, Phoebe Liu.
Insightful. Thank you.
Is the narrator for this video AI generated? I’m getting some uncanny valley from the video.
Yeah probably ai, no breathing and same tone
It's because she is barely moving her lips. Most CGI characters are obvious because of their poor lip movement.
Yes it does look and sound a bit AI.
Her name is Phoebe Liu, reporter, real person.
@@nancyneyedly4587 weird how they chose complete dogshit for recording the audio considering they are a massive corporation. sounds like garbage and the reporter has zero emotion.
Everyone of these videos the presenter sounds and looks like AI
This is not unique to Hawaii. It's happening everywhere there's a vacation destination.
And the fire was an accident, yup !
At least they didn't use that reporter who was blasted and partying the night before ! 😂
Which video was that?
@@tahirujallow this one lol - i feel like this is going to become a common comparison (of whoever is narrating) on all the Forbes videos going forward LOL
ua-cam.com/video/Edu6hFqpWbg/v-deo.htmlsi=RfHvgW4_efL1kvUA
it sounds like she's reading this for the first time...
PS Zuckerbucks is building a HUGE bunker below ground.. why???? ummmm does he know something most of us don't?
Case in point, the Island of Bermuda. The rich own that Island as well. There are not many hotels in Bermuda for that reason and not much for a tourist to see or do there. It's only good as a stop over for cruise ships.
Same thing is happening in Puerto Rico. Housing prices have skyrocketed since 2017 after hurricane Maria.
Mars property isn't even for sale yet and these guys already own a %
In order for people to buy land, it takes others to sell it . Stop selling it.
Why not? They already bought the majority of politicians.
Some of those prices for many acres of land just do not seem enough to me, I am sure true Hawaiian's feel the same
It may be that because they are buying 100 plus acres, it just works out to a lower per acre price, but you can't just buy an acre or two of the land they are buying up.
gotta start making man made islands for the locals to live. the workers that serve the rich will need somewhere to live.
idk why voters in hawaii elect ppl into state positions who continually allow this to happen. This has been an ongoing problem for years, and not just billionares, just people with wealth in general who can afford vacation homes or properties with intent to make it a profitable air bnb, they push out the average working class Hawai'i resident & the native Hawaiian people.
Great report. Thank you
disgusting, I hate the ruling class
cattle on an island what a great use of space
The rich like their beef.
@@williamking6531
Leading to GOUT? A.K.A. "the rich man's disease".
@@gregcarter8656 Or lead to Mad Cow disease.
Was it beer-fed cattle I heard?
Beef for thee, none for me.
Theyre building Elysium to shelter themselves from the AI and robot apocalypse.
You can say that again 😂
You are ai bro lol
and the illegal cartel gangs invited in
they ARE the robot apocalypse.
This is their road to escape from law enforcement for any behind the scenes stuff
New -Epstein- Oprah's island
You will eat bugs, own nothing, and be happy.
~Suckerbug
@@redmoondesignbeth9119 Zuckerberg is mapping every cell in the human body. What have you ingrates done lately?
Klaus S.
Yeah that's the bond villian Euro trash one. He better not start that though, now we know about his little ranch.
People complain about capitalism and then continue to support it.
suckerberg also wants to know what you eat at dinner. So post it now!!!
Right no Hawaii is hurting so a great opportunity for the Vultures to swoop. There is a housing shortage for local people,.
I cant tell if the voice over is A.I
Her performance here is mind-numbing. Very poor. I'm sure she can improve though.
AI would do better
It’s so awful
That's the way Asians talk.
Why is Orca Winfrey in Hawaii?
Savage!🤣🤣🤣
People don't even realize this is an AI video
Lol it isn't
Omg..no wonder the rents went up sky😢😢😢. So sad , we must suffer, no matter what?😢😢😢. Profits over simple hard workers like me and so many more kamai'na😢😢😢
What do they know that we don’t know why are they buying up all these islands ?
Zucks building a huge bunker on his land
Well done, Forbes!
they are probably relocating because here in the states it will probably be a sh$tshow
When Hawaiians complain that they are being priced out of the market , what they fail to recognize is that the same is happening to every other coastal community in America. I live in a beach town on the east coast and my house is 3x higher than when I bought it 7 years ago (due to rich NYC people buying away from the city). If I was 20 years younger trying to buy a first home I would just have to work 3x harder and smarter to make enough $.
However, the legitimate gripe Hawaiians have is that this system of land ownership was imposed upon them by foreigners. Unless, of course, you happen to be a native American.
@@wthomas5697 Yeah, Captain Cook sucks.
Asian immigrants keep flooding in.🧧🧧🐉🐉
...hawaiians complaining??? ...as in who??? The caucasians, japanese, filipinos, blacks, mexicans and OTHER races that move to my native lands, get a driver's license or I.D. and call themselves "hawaiians" OR are you referring to us Kanaka Maoli, the indigenous people of the hawaiian islands, those like myself whose Queen was imprisoned, whose country was STOLEN by the United States because they wanted a strategic military base (Pearl Harbor) in the middle of the Pacific? Whose lands were stolen because caucasians and asians wanted their "Private" Hawaiian Paradise??? And whose people was FORCED to call themselves "Americans???" Which ones are you talking about???? Coz the more of yall move here, the more yall make it super expensive for us indigenous to live and we become homeless, which MANY of my people are...we effectively are strangers in our own lands...so, which "Hawaiians" are you talking about???
Typical foreigner response. SMH
was the host doing asmr? i thought i was hearing whispers.
Thank you Forbes!
Hope the locals can buy the land back if not it will only become a playground for the 1 percent !
Fobes does good reporting now?!?!?!? How’d this happen. 😮
Keep some distance. It'll be important in the future that they're untouchable. 🔦
@@boyblue3270can't you see it? There will be a revolution against the power. They want to cancel us, they are already trying to replace us with AI and robots. The only way it'll fight for our rights.
Not just there look at the prices of homes in southern California. I grew up 7 miles from the beach homes were priced in the 1970's at 16-37k for a SFH. Now that same home I grew up in is worth 1.8M. The friends I knew there every home that sells from the original owner the new owner is a doctor, attorney, or business owner. He said you can tell by the car backs out of the garage before it was a Toyota, and now it's a Range Rover, or other 150k plus car.
Weird that you missed out on the founder of Salesforce purchasing large tracts of land around the Hawaiian Homesteads in Waimea on Big Island. Is he a buddy of yours?
makes me kinda wonder if the hawaii fires were intentional.
There is a great video out there showing how the fires spread, and how strange it is how the heat doesn't expand like normal fires to damage nearby buildings. They seem to imply it could have been something else, like energy weapons.
@@richardb8104 Exactly, a lot of people don't know this, but there is actually a reptilian alien mothership in the orbit of Earth; and it was last seen over Hawaii. There are countless videos of grey aliens firing beams of lightning at properties and instantly setting them on fire. Why isn't the media talking about this??
likely they were
@@Tigertame4kind of like a military exercise that was not just an exercise
You should work on your voice tone! It sounds like you can burst into tears at any moment.
Wait till China claims Hawaii for its own. They do have that tract record of claiming Islands that suits their interest.
Yep. Screw these people.. I hike on their property all the time!
Is this voice AI generated?
You need to start voting differently to bring the change you want. Ask your representatives to make policy change so that these large land sales don’t happen.
@@Liviticus so vote for the most pro billionaire party? Lmao
@@Liviticus"Expecting Republican policies to help average people" is one entry
@@someonenotnoonegiven the failure of out of touch Democrats just like they do in Cali, that does sound like a better option. Atleast Cali Hipsters can run away to settle in Texas.
Tax exempt if it has anything to do with Gainable Development, It's a global perk.
I used to be station on Oahu. When did they starting allowing people to buy land?
Can Forbes do a video without constantly showing the face of the narrator?
I think she's an AI. There's the uncanny Valley vibes about the narrator.
Yesss if the don’t give certain vibe or strong personality and passion don’t bother
@@yivmaidenword up!😂
Narrator is damn gorgeous
Why do you have a problem with narrator being shown, that’s literally nothing to complain about
I can't express the frustration!
France dealt with their royals problem quite efficiently in 1789.
We can still learn from history….
They sure did!
The asian lady reading is not very good at it. Feels like a middle school presentation.
Keep the country, country!
Please..this is native Hawaiian homeland.put land in trust to natives
That was already done in 1920, over 100 years ago. See the Hawaiian Homes Commission Act.
Mahalo for highlighting this!
100% tax on billionaires. 1 billion is enough money for a single person.
Governments just steal and waste it.
No income tax. Just land tax. Evens out for regular people but it would make it less desirable as an investment which would make it cheaper so less tax.
Makes working worth it and investing in land, not so much.
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
Bots. Ignore.
@@BaldMancTwatNO, the first post that they put with the name of their advisor you hit the report button and after enough people report their spam google deletes their spamming account. So do eveyone a favor and report them. It won't get rid of them completely but it wastes their time making new accounts
that is what happens when the government needs more tax dollars.
You missed the Big Island . And maybe Bezos on Maui doesn’t count since it’s just a compound?
This is exactly the reason that the uber-wealthy should be much more heavily taxed.
Otherwise, this should quite simply not be allowed to happen. Thanks to weak laws and weak leaders, it will continue.
They won't be taxed, the politicians get pay offs to NOT tax them.
All of them have private armies AS WELL AS the US military on speed dial.
Police "Force" is just hired thugs to protect the "elite" - australia
how about the people who sold those lands?
or the people who have deep ties to it who will never have any hope to live on their homeland. so they're forced to move to work in big cities. and we all know you love those big cities right?
Most people have to file permits to build. Available for public inspection.
Some "people" are corporations or trusts.
they use shell companies to buy to sheild themselves
5% of the livable area of Hawaiian land!
You can always buy some cheap real estate on the Big Island, near kilauea. But if billionaires wanna buy a bunch of costly real estate in the middle of the Pacific, terrific! They're still gonna need a local economy to support their lifestyles. Just play the game and see where it goes.
you really dont know where it goes ?
@@wbay3848and how many of these people are worth 100b? Like 2. Even then, I’m not sure you understand the finite supply of Gold nor the relative value of exports. Don’t know why I’d waste my time on you but here we are.
@@ElectricWayGt2 the 'robber barons' of yesteryear brought us untold riches. You live better than King Louis XV.
So yeah I know where it goes.
@@wbay3848 you don't seem to know the difference between liquid assets and networth.
Didn't think like that but hmmm😊
The good thing is they can't take it with them.
They will it to their wealthy kids and will stay in their family forever 😂
There is a very simple solution, and it's called: legislation.
AI is getting scary