Cost of Living Summit to address outmigration of Hawaii’s young professionals

HONOLULU (HawaiiNewsNow) – Every year, more people leave Hawaii than move here, and young adults make up nearly 25% of those departures.

The Chamber of Commerce of Hawaii’s Young Professionals (YP) Program is hosting a summit to discuss solutions to the brain drain.

Organizers Jessica Yuhara and Alena Kangas Auyoung joined HNN’s Sunrise to talk about efforts to retain top young talent in Hawaii and its Cost of Living Summit on October 25 from 8 a.m. to 6 p.m. at the Alohilani Resort in Waikiki.

Among the factors prompting the outmigration of young adults are the high cost of living and lack of civic engagement in Hawaii. According to UHERO and DBEDT, young adults ages 25 to 34 represent 13.8% of Hawaii’s population, yet account for 24.3% of departures.

More than 150 young professionals, community leaders and policymakers will discuss solutions at the summit, which aims to empower young professionals with tools and knowledge so they can turn the tide.

“This is a summit of and for our generation. We have to be the solution. Our families invested in their children not to bring those gifts to bear elsewhere. The summit will empower young professionals with the tools and knowledge needed to actively engage in their communities and make their voices heard on the issues that matter most,” organizers said.

A UHERO report shows only 1 in 5 local households can afford a mortgage for an $875,000 median priced home, while Child Care Aware of America says child care in Hawaii costs 18 percent of the median income for a married couple.

Tickets for the Cost of Living Summit, presented by Tradewind Group. are $50 for members and $65 for the general public. For more information, visit tinyurl.com/YPCostofLiving.

The YP Program aims to create a movement and change by building a stronger coalition to solve some of the state’s biggest challenges.

To join, visit cochawaii.org. Membership rates start at $50.

Here are some event highlights:

1. “Surviving in Today’s Hawaii” Pre-Summit, Presented by American Savings Bank

• Focus on financial literacy with sessions on growing and investing money, starting a side hustle, buying a home, preparing for college, taxes and more.

2. Cost of Living Summit presented by Tradewind Group

• Cost of Housing Panel: Address housing affordability and discussion of potential solutions
• Workforce Retention & Cost of Childcare Panel: Explore the impact of childcare costs on workforce retention
• Interactive Breakouts: In-depth sessions and solutions-driven discussions on workforce retention, childcare costs and affordable housing.
• Lunch & Learn: Enjoy lunch with notable change makers including Housing Committee Chairs Senator Stanley Chang, Representative Luke Evslin and others.

Cost of Living Summit registration includes attendance to all sessions including a Pau Hana Networking event.

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