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Urban Land Price: The Extraordinary Case of Honolulu, Hawaii

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  • Louis A. Rose

    (Department of Economics, University of Hawaii, Honolulu, Hawaii 96822)

  • Sumner J. La Croix

    (Department of Economics, University of Hawaii, Honolulu, Hawaii 96822)

Abstract

The price of land in Honolulu is higher than in any other major US urban area. This paper examines several determinants of the supply and demand for land and discusses their likely influence on Honolulu's land price. It utilises comparisons between demand and supply conditions in Honolulu and in the forty most populous US urban areas to ascertain the strength of the respective determinants. The regression results confirm that natural and institutional constraints restricting the supply of land play an important role in determining price in Honolulu and in the forty-city sample.

Suggested Citation

  • Louis A. Rose & Sumner J. La Croix, 1989. "Urban Land Price: The Extraordinary Case of Honolulu, Hawaii," Urban Studies, Urban Studies Journal Limited, vol. 26(3), pages 301-314, June.
    • Handle: RePEc:sae:urbstu:v:26:y:1989:i:3:p:301-314
    DOI: 10.1080/00420988920080311
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    References listed on IDEAS

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    1. Fischel, William A., 1980. "Zoning and the exercise of monopoly power: A reevaluation," Journal of Urban Economics, Elsevier, vol. 8(3), pages 283-293, November.
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    4. Sherman J. Maisel, 1964. "Price Movements Of Building Sites In The United States —A Comparison Among Metropolitan Areas," Papers in Regional Science, Wiley Blackwell, vol. 12(1), pages 47-60, January.
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    6. Hamilton, Bruce W., 1978. "Zoning and the exercise of monopoly power," Journal of Urban Economics, Elsevier, vol. 5(1), pages 116-130, January.
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    Cited by:

    1. S Monk & B J Pearce & C M E Whitehead, 1996. "Land-Use Planning, Land Supply, and House Prices," Environment and Planning A, , vol. 28(3), pages 495-511, March.

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