Hawaii Voters Will Decide on RISE Infrastructure Bonds

A November 2026 ballot measure proposes allowing counties to issue bonds for local infrastructure projects.

Updated on Oct. 9, 2026 in Utilities

Isometric editorial illustration featuring a concrete utility pipe on basalt rock, symbolizing infrastructure development for Hawaii. — Hawaii voters will head to the polls in November 2026 to vote on a constitutional amendment authorizing local infrastructure bonds for utility development. AI Illustration. Upload story photo >

Live Poll

Will the proposed constitutional amendment in Hawaiʻi successfully fund new housing infrastructure without raising taxes?

In the November 2026 general election, Hawaii voters will decide on a constitutional amendment to authorize RISE bonds for water, sewer, and drainage infrastructure. If passed, the measure would permit counties to fund development through future property tax revenue within designated redeveloped districts.

Why it matters

The amendment seeks to enable major infrastructure development without raising taxes or increasing existing county debt limits. It offers a potential solution to help address the state's significant housing shortage by financing necessary utilities at specific sites like Iwilei.

Hawaii currently constructs 5,000 homes annually but requires 78,000 additional units to meet demand. The proposed Iwilei-Kapālama development has the potential to host 27,500 new housing units.

The players

RISE Together Hawaiʻi

This is a political action committee that has raised nearly $2 million to support the passage of the constitutional amendment.

Hawaiian Electric

This is the primary provider of electricity in Hawaii and saw one of its substations in Iwilei flood in 2021.

The details

Under this proposal, counties would not be liable if bond revenues fall short, as debt would be repaid strictly through property tax increases generated within the redeveloped area. The initiative has already received unanimous approval from both the state House and Senate, and the political action committee RISE Together Hawaiʻi has raised nearly $2 million for campaigns.

2018: A wildfire caused bond defaults in Paradise, California.
2021: A Hawaiian Electric substation in Iwilei flooded.
2023: A report estimated Iwilei development capacity and costs.
November 2026: General election voters will decide on the constitutional amendment.

Market Landscape

This amendment seeks to modernize Hawaii's fiscal policy, which currently makes it one of only two states prohibiting this public financing model. It positions the state to adopt strategies used elsewhere to stimulate development, effectively shifting how counties compete for and fund infrastructure growth.

This ballot measure could lead to increased housing capacity in areas like Iwilei, potentially addressing long-term shortages for residents. However, voters should consider the financial structure of these bonds, which rely on localized property tax increases for repayment.

The takeaway

The amendment represents a significant shift toward enabling infrastructure funding in Hawaii without directly increasing general obligation debt burdens. Residents should monitor the ballot measure closely to understand how it could impact future development and property tax assessments in their areas.

What happens next

The constitutional amendment is scheduled to appear on the Hawaii general election ballot in November 2026, at which point the outcome will be determined by the popular vote.