As usual the onus is placed on commercial developers to do the heavy lifting.  Also as usual the local politician's timing is atrocious. The currently construction cycle is at its peak and it is very doubtful that the "incentives" offered by the Mayor will induce developers to risk their capital in a very uncertain economic environment.  
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In actuality Honolulu and indeed Hawaii is a gated community, politically and economically. The problem is that the de facto gate keepers are totally inept.