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60年代中期,火奴鲁鲁岛大约有22000户独户式租赁土地住宅。租住的不舒适引起了1967的法律改革,允许承租人购买所租住的土地。到1991年,仅剩下少于5000户的承租人。本文分析了为什么土地所有者选择出租土地而非出卖土地。同时把租赁土地的上升归因于对大地产商出卖土地的法律限制、地产受托者的责任和联邦税收制度。意识形态的力量导致1967年的土地改革,但寻租的力量在70年代中期阻碍了它的进程。本文认为夏威夷宅基地租赁的试验是一个失败,其原因在于与签订和执行长期土地租赁合同相关的种种困难。
In the mid-1960s, there were about 22,000 single-family leasehold homes in Honolulu. The uncomfortable rent caused the 1967 law reform, allowing lessees to buy the land they rented. By 1991, only fewer than 5,000 tenants remained. This article analyzes why land owners choose to lease land instead of selling land. At the same time, the increase in leasehold land is attributed to the legal restrictions on the sale of land by big developers, the responsibility of estate trustees and the federal tax system. The power of ideology led to the land reform of 1967, but the power of rent-seeking hindered its progress in the mid-1970s. This paper argues that the test of Hawaii homestead lease is a failure because of the difficulties associated with signing and implementing long-term land lease contracts.