Late Stage Capitalism

This is the best summary I could come up with:

But a chronic housing shortage and an influx of second-home buyers and wealthy transplants have been displacing residents like Palalay who give Lahaina its spirit and identity.

A fast-moving wildfire that incinerated much of the compact coastal settlement last week has multiplied concerns that any homes rebuilt there will be targeted at affluent outsiders seeking a tropical haven.

That would turbo-charge what is already one of Hawaii’s gravest and biggest challenges: the exodus and displacement of Native Hawaiian and local-born residents who can no longer afford to live in their homeland.

My joy,” he said in a text message, adding that the town has taught him “lessons of love, struggle, discrimination, passion, division and unity you could not fathom.”

“So a lot of more recent arrivals — typically from the American mainland who have more money and can buy homes at a higher price — were to some extent displacing local families in Lahaina,” Higa said.

Residents with insurance or government aid may get funds to rebuild, but those payouts could take years and recipients may find it won’t be enough to pay rent or buy an alternate property in the interim.

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