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Climate change-induced sea level rise (SLR) will affect a range of coastal assets and prompt difficult decisions about coastal land use across the world. Several recent studies find that current and projected SLR is associated with relatively lower property values. We contribute to this growing body of research with a case study of O‘ahu, Hawai‘i, which is famed for its beaches as well as valuable coastal real estate. We leverage a dataset that unpacks multiple types of SLR exposure and coastal parcel attributes. We apply property transaction data for the island of O‘ahu through 2019 to investigate the effect of current and expected SLR exposure on residential property prices. We find that exposed properties have already experienced declines in transaction prices, at 9 to 14%, attributed to expectations of exposure to chronic inundation (as opposed to seasonal flooding). The price declines are mainly for multi-dwelling homes as opposed to single family homes. The market response of residential properties to SLR has important implications for coastal management strategies, in particular the viability and timing of programs for retreat.
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Multiple climate change-driven tipping points for coastal systems
Abstract As the climate evolves over the next century, the interaction of accelerating sea level rise (SLR) and storms, combined with confining development and infrastructure, will place greater stresses on physical, ecological, and human systems along the ocean-land margin. Many of these valued coastal systems could reach “tipping points,” at which hazard exposure substantially increases and threatens the present-day form, function, and viability of communities, infrastructure, and ecosystems. Determining the timing and nature of these tipping points is essential for effective climate adaptation planning. Here we present a multidisciplinary case study from Santa Barbara, California (USA), to identify potential climate change-related tipping points for various coastal systems. This study integrates numerical and statistical models of the climate, ocean water levels, beach and cliff evolution, and two soft sediment ecosystems, sandy beaches and tidal wetlands. We find that tipping points for beaches and wetlands could be reached with just 0.25 m or less of SLR (~ 2050), with > 50% subsequent habitat loss that would degrade overall biodiversity and ecosystem function. In contrast, the largest projected changes in socioeconomic exposure to flooding for five communities in this region are not anticipated until SLR exceeds 0.75 m for daily flooding and 1.5 m for storm-driven flooding (~ 2100 or later). These changes are less acute relative to community totals and do not qualify as tipping points given the adaptive capacity of communities. Nonetheless, the natural and human built systems are interconnected such that the loss of natural system function could negatively impact the quality of life of residents and disrupt the local economy, resulting in indirect socioeconomic impacts long before built infrastructure is directly impacted by flooding.
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- Award ID(s):
- 1831937
- PAR ID:
- 10308804
- Date Published:
- Journal Name:
- Scientific Reports
- Volume:
- 11
- Issue:
- 1
- ISSN:
- 2045-2322
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
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- Free Publicly Accessible Full Text
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Accepted Manuscript1.0
- Journal Article:
- https://doi.org/10.1038/s41598-021-94942-7
