Empty dorm beds costing UH-Hilo: Options weighed to fill Hale Alahonua, end use of reserve funds

[TexasTowelie]

The University of Hawaii at Hilo is mulling ways to boost low occupancy in its newest residence hall, a problem that has forced the school to dip into reserve funds in order to pay back debt from the building’s construction.

Hale ‘Alahonua, a 300-bed, suite-style dormitory opened in fall 2013 to help mitigate a housing shortage. It was the first dorm built at UH-Hilo since 1989.

Part of the $28 million project was funded with a 30-year, $17 million revenue bond, to be paid back through money generated from housing fees.

But the dorm has since struggled to fill all its beds. Occupancy was 57 percent that first year and dipped as low as 39 percent in 2015. It’s currently 49 percent full. All other dormitories at UH-Hilo range between 83 percent and 99 percent full, according to information provided to the Tribune-Herald.

Read more: http://www.hawaiitribune-herald.com/news/local-news/empty-dorm-beds-costing-uh-hilo-options-weighed-fill-hale-alahonua-end-use-reserve

[exboyfil]

1. You have to pay nearly twice as much than a dorm room in Iowa for example

Nearly 8K and a required meal plan that is ten minutes from the dorm? I am not surprised. They have a school of Business, they should have used some of the expertise from there. Best solution is to lower price and have a lottery to get in if necessary. May need to take one of the dorms offline. Try offering a more popular major like engineering?

[mercuryblues]

2. I would start by renting it

out to parents when they want to visit their kids. Rounded up it comes to 154 a week based on 52 weeks. college isn't year round, but they could rent it out for more. Set aside 10-20 rooms and charge 400-500 a week. They could use their business majors to run it. It wouldn't cover the entire pmt, but it will alleviate the burden.