I couldn't afford to live in Kailua after I retired.  That is why I moved to the BI and I absolutely love it here.  Wouldn't move back even if I could afford it.

This is capitalism at work. Not sure if our population at large here in Hawaii realizes it with all these solutions to affordable housing being touted. We are in a global market. Have been for decades. Our locals are competing with buyers from all over. I dont see how locals can compete with all these foreign and domestic people. They are willing to pay for things that I think we take for granted. The US provides relatively peaceful and safe society. I can only guess that outside buyers are in lucrative white collar industries that pay more than our average Hawaii local. Our economy is driven by construction, tourism and govt spending. We need more markets.
Interesting observation by my coworker the other day. Hawaii locals identify by what high school they grad from while mainlanders identify by college.

Some of the people, both foreign and American are not going to be living in the multi million dollar condos full time. I am not sure what that means? Are they retired and spending time here and then time somewhere else? I have a friend who is retired and owns three condos in three countries (one in Hawaii). And he lives in each condo four months out of each year. Do they have business here and use the condo as a place to live while they are here on business? Are they using the condo as a vacation home?

Now, I also know for a fact that there are a few investors in the condo complex. They already bought up some of the best units and are already up for sale as a flip. And at least double what they paid.

China Chinese just need to park their cash somewhere. Real estate is what they know and trust. What they do not trust is China's banks. Some of that cash has "dubious origins" but not all of it.