Escalating climate disasters could make homes uninsurable, new report warns

STAR-ADVERTISER / 2019

By Victoria Budiono for Honolulu Star-Advertiser

Hawaii is facing a rapidly escalating insurance crisis driven by climate change, aging housing, and a sharp retreat by private insurers, according to a new report released by the Hawaii Appleseed Center for Law & Economic Justice.

The analysis, “Who Pays for Climate Disasters? Case Studies on Regulatory Responses to Climate Change-Related Disasters,” concluded that Hawaii’s property insurance market — particularly for condominiums — is becoming increasingly unstable. Nonrenewals across the state jumped 216% between 2018 and 2023, while premiums for homeowners rose an average of 12% from 2021–2024. Condominium associations saw even sharper increases, averaging 16%, with some buildings reporting fee hikes of more than $2,000 per unit.

Appleseed Executive Director Will White called the situation a “flashing red light.”

Click here to read the full story from the Dec. 15 issue of the Honolulu Star-Advertiser