By Joe Kent
Have you ever wondered why developers on Maui spend their time building mansions instead of affordable homes?
At first glance, it would seem they could make more money building mansions, but that isn’t necessarily the case. Surprisingly, developers often make less money on mansions than if they were to build low-end or midlevel homes or apartments. Why?
The reason is zoning laws, specifically the ones that prohibit developers from building lower-priced single-family homes and apartments on their land. … Read more: