Como Friends, the non-profit partner of Como Park Zoo & Conservatory, recently announced it reached a milestone of $50 million in donation that have been invested in the zoo’s campus.

The sum is a cumulation of support that has increased every year since the group was founded in 2000, officials say. The first year saw $309,000 raised, with $2 million in the most recent one.

The funds are used to improve visitor amenities, update animal habitats and gardens, expand education programs and preserve free access to the zoo and conservatory. Como Friends’ goal is to inspire community generosity in order to ensure that Como Zoo thrives for generations to come.

“The significance of this is that over 24 years, this wonderful community that we live in has come together to generously support Como Parks and Conservatory through philanthropy,” said Jackie Sticha, Como Friends president.

Because of this support, including individuals, corporations, foundations and proceeds from the gift shop, Como park is one of the last free metro zoos and botanical gardens in the U.S., with around 1.8 million visitors annually. Donations have allowed the visitor center to open in 2005, updates to the animal habitats such as Como Harbor and Polar Bear Odyssey and new gardens at the Conservatory.

Additionally, Como has launched the Conservation Champions program to provide staff with conservation fieldwork around the world and implement initiatives at Como Park.

The zoo reports generating more than $200 million in economic impact on the region, and providing more than 2,000 jobs.

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Katie Kelton | Bankrate.com (TNS)

Perhaps your summers hold fond memories of strolling along the beach, hiking mountains or trying new foods at a destination hundreds of miles from home. If so, are you planning to keep the travel streak going this year? Would you go into debt for it?

A new Bankrate survey found that only about half (53%) of Americans are planning a summer vacation in 2024. Of those who plan to travel this summer, more than 1 in 3 (36%) are willing to go into debt to pay for it.

On the other hand, another half (47%) of Americans plan to skip their summer vacation this year, citing affordability as the main issue (65%).

Some summer travelers plan to take on debt for their vacation

More than one-third (36%) of aspiring summer vacationers said in the survey that they plan to use debt to pay for their travels.

This is par for the course when compared to another March 2024 Bankrate survey that asked Americans whether they’d go into debt to pay for fun this year. In that survey, 27% said they’d be willing to go into debt to travel, 14% to dine out and 13% to attend a live entertainment event this year overall — not just in the summer.

Ted Rossman, Bankrate Senior Industry Analyst, cautions against racking up expensive credit card debt.

“I don’t want to tell people they can’t have any fun, but I do worry about taking on debt for discretionary purchases such as vacations, especially with credit card balances and rates at record highs,” he says.

A majority of summer travelers will pay with a credit card

Credit cards are summer travelers’ preferred payment method — 62% will use a credit card for at least some of their trip expenses. Forty-three percent of summer travelers plan to use a credit card that they pay in full, and 26% plan to use a card and carry the balance over multiple billing cycles. Some people are doing both.

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Interestingly, a January 2024 Bankrate survey found that, of the 44% of credit cardholders carrying debt from month to month, 2 in 3 cardholders try to maximize rewards. If you can pay your balance in full, a travel credit card is a great way to earn while you spend and put rewards toward future trips.

Using travel credit cards can also help you to reap additional travel benefits like no foreign transaction fees or trip cancellation insurance. However, even with these rewards, it’s still worth considering the cost of carrying a balance to pay for travel.

“While the travel industry has rebounded from the chaos that immediately followed the pandemic, I’m sure there will still be plenty of delays and cancellations this summer,” Rossman says.

“It’s a good idea to pay with a credit card that offers generous travel insurance benefits such as trip cancellation and interruption insurance and stipends if your flight is delayed or your luggage is lost. Rental car insurance is another helpful benefit included on many cards.”

Domestic summer travel is the most popular option

Vacations are an important part of many people’s lives, whether at all-inclusive resorts or national parks. According to the survey, 53% of U.S. adults are planning a summer vacation this year.

Thirty-six percent of Americans plan to travel domestically, 15% plan to travel internationally and 12% plan to take a staycation (respondents could choose more than one option). Another 18% don’t know or are not sure of their plans yet.

Over four in 10 (43%) of the staycationers are also planning a domestic or international trip, so roughly 7% of U.S. adults will make a staycation their only summer vacation. If you’re facing cost concerns, making the most of local experiences may be easier on your wallet.

Younger Americans are more likely to get away — and use debt to pay for it

When school’s out for summer, students, young parents and other young people might be more likely to jet out of town than older generations.

Sixty percent of Gen Zers (ages 18-27) and 61% of millennials (ages 28-43) are planning summer vacations, versus 50% of Gen Xers (ages 44-59) and 44% of boomers (ages 60-78).

Young people are also more willing to take on debt to pay for their 2024 summer vacation:

—Gen Z: 42%

—Millennials: 47%

—Gen X: 31%

—Boomers: 22%

Higher earners and city dwellers are most likely to jet set this summer

When you scroll on social media this summer, you might notice two types of friends filling your feed with travel photos — those who earn more money and those who live in cities.

Nearly 3 in 4 (74%) of survey respondents with annual household incomes of $100,000 or more are planning a summer vacation. That’s considerably more than the 68% earning between $80,000 and $99,999, 61% earning between $50,000 and $79,999 and just 39% earning under $50,000 who are planning a summer vacation.

As for where these summer travelers live:

—61% of people who live in a city are planning a summer vacation

—50% of those who live in a suburb

—48% of those who live in a town

—44% of those who live in a rural area

Nearly three in 10 (28%) U.S. adults are skipping a summer vacation due to affordability

The top explanation among those who are not planning summer vacations, by a wide margin, is that they can’t afford it (65%).

Even though inflation seems to be cooling off, the Fed still hasn’t lowered rates. Thus, credit card rates are still high, and Americans continue to feel the pain of higher prices on everyday spending.

A new credit card might help you fight inflation. But many Americans appear to be feeling wary of whether they can afford luxuries like a summer trip.

Among those not planning summer vacations, Gen Xers were most likely to say they can’t afford it (67%), followed by millennials (62%), boomers (61%) and Gen Zers (53%).

In 2023, 58% of Americans also said they couldn’t afford it. Other reasons for not planning a summer vacation include:

—24% are not interested in taking any vacations currently (versus 23% in 2023)

—13% said their health or age (versus 15% in 2023)

—11% said it’s too much of a hassle

—10% can’t take time off work (versus 11% in 2023)

—10% said too many family obligations (versus 13% in 2023)

—4% are planning a vacation for another time (versus 11% in 2023)

—1% said their desired destination is too crowded (versus 23% in 2023)

—9% said it was another reason (versus 7% in 2023)

Rossman advises “taking advantage of any credit card rewards, airline miles and hotel points you’ve socked away.”

“Maybe even sign up for a new credit card with a generous sign-up bonus that you can put toward your getaway,” he says. “Finally, if going somewhere isn’t feasible this year, at least take some time off to relax and recharge close to home.”

3 types of debt that can be less expensive than credit card debt

If you’re planning to take on debt to pay for a summer vacation, putting it on your credit card might be an expensive decision. That’s because credit card interest rates are high — currently averaging almost 21%. For every day that you carry a balance, you’ll pay interest on those vacation expenses (and you’ll also pay interest on your interest).

A word of caution that it’s not the best idea to spend beyond your means for a vacation. You could avoid going into debt for a big trip by doing things like saving, travel hacking with credit card rewards and looking for deals.

If you still want to borrow money, here are three forms of debt that might be less costly than credit card debt:

—Personal loan. The best personal loans can come with lower interest rates than credit cards. If you need a large chunk of change to pay for travel expenses up front, you could apply for a personal loan. Having good credit may increase your chances of being approved and getting a lower rate. Just keep in mind that you’ll still be paying interest as you make payments over time.

—Buy now, pay later (BNPL) service. You could use a BNPL app like Affirm, Afterpay, PayPal in 4, Perpay or Sezzle to make interest-free payments over time on large purchases like flights or hotel stays. You’d be joining the 8% of survey respondents planning to use a BPNL service to pay for summer travel.

—Zero-percent intro APR credit card

Applying for a 0% APR credit card could buy you time to make purchases that you pay off later, interest free. Just consider whether you can pay off the balance by the time the introductory period ends — usually within 12 to 21 months. After that, the card’s regular APR will kick in and you’ll start racking up interest. Also remember that applying for a new credit card can temporarily ding your credit.

Methodology

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2360 adults, of whom 1,262 are planning a summer vacation and 1,098 are not. Fieldwork was undertaken between March 19 through 20, 2024. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

(Visit Bankrate online at bankrate.com.)

©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

Grace Toohey | (TNS) Los Angeles Times

Hawaii lawmakers are hoping that phasing out short-term rentals could help ease its worsening housing crisis, where locals face the highest housing costs in the nation and one of the worst rates of homelessness.

Two bills that would allow for new regulation of “transient accommodations” have moved readily through the state legislature this spring, and if passed, could provide new avenues to limit the short-term home rental industry, which has exploded in recent years across the state’s four populated islands.

But the issue has been a challenging one for officials in cities and states across the U.S. — including Los Angeles, New York, Nashville and Bozeman, Mont. — who have looked for ways to rein in the ballooning popularity of Airbnb and other online home rental platforms without eliminating the economic benefits that such properties draw.

In Hawaii, last summer’s Maui wildfires have uniquely forced attention on the housing crisis — which was reaching a critical juncture even before the fires displaced thousands. Proponents of the short-term rental phase-outs hope this new sense of urgency could help push these bills into law in the coming weeks.

Here’s a look at how the bills could affect locals and visitors, and how soon.

What would these bills do?

The two companion bills, HB1838 and SB2919, would give counties new authority to change residential zoning, including the power to phase out short-term renting.

It’s important to note, though, that even if these bill pass, nothing would happen overnight. County officials — some of whom have said they want to change how short-term rentals are used and others who have previously tried to change such regulations — would have to adopt new rules to limit rentals. If they enact a phase-out, officials say, it would probably go into effect over several years.

“The bill does not enact anything specific to the regulation of those properties,” said state Sen. Jarrett Keohokalole, one of the co-authors on the Senate bill. “It simply … makes it clear that the counties do have the authority to regulate vacation rentals if they choose.”

The bills essentially provide the needed legal framework for counties to limit short-term rentals in a variety of ways. Honolulu officials attempted to redefine the length of a short-term rental in 2022, but a federal judge recently ruled that current state law barred them from doing so.

State Rep. Luke Evslin, the chair of the House Committee on Housing, said even if these bills pass, they probably won’t eliminate short-term rentals on the islands. Instead, Evslin said, the legislation would give local governments opportunities to define the neighborhoods where tourists could rent short-term units and, ideally, free up more homes for locals seeking long-term rentals. He said it won’t solve the state’s growing housing crisis, but he thinks it’s a first step to “stem the bleeding.”

“I think it’s one of the steps that we need to take to try and solve our housing crisis,” Evslin said, an author of the House bill. “On Kauai, for example, more units are becoming vacation rentals every year than we are building annually, so we have literally declining housing stock on Kauai, and the same thing is happening on Maui — even pre-fire.”

But a long battle looms

The bills’ supporters include many local housing nonprofits, hotel companies and local leaders, including Maui Councilmember Keani Rawlins-Fernandez.

“People are moving by the droves because there is no housing,” Rawlins-Ferandez said. She said it’s taken too long for officials to regulate the short-term rental industry, which has created this challenging fight with increasingly powerful interests.

There’s also a broad swath of opponents, including local homeowners who also rent units or rooms, Realtor groups, rental alliances and rental platforms. All of these groups have a financial interest in preserving property owners’ ability to do short-term rentals.

Airbnb’s Alex April, head of the company’s public policy for Hawaii, didn’t expressly oppose the legislation in her statement to legislators, but mentioned concerns including the financial losses that the state could see. April also cited ongoing work between Airbnb and Hawaii counties to help limit illegal renting, which has included memorandums of understanding to remove properties not operating within the law.

“We remain committed to working with you on fair and reasonable solutions that protect the rights of hosts and preserve the significant benefits that short-term rentals provide to Hawaii communities,” April’s statement said.

Airbnb also hired Hawaii’s former attorney general, David Louie, to argue against the bills, claiming in a lengthy testimony that the measures, if passed, could result in lawsuits challenging its constitutionality.

“Both Hawaii and federal litigation (have) recognized the principle that all preexisting uses of land are protected,” Louie wrote. A judge would not accept such changes to short-term rental zoning, he argued, because of how units have operated for years, leading to “substantial and unnecessary litigation.”

Evslin insisted that the bills are constitutional, but noted it will depend how counties chose to implement possible phase-outs if any further legal fight follows.

Why is this important now?

Months after the Maui wildfires, hundreds of displaced families are still living in hotels. Officials hope they will be relocated to long-term housing by this summer — a deadline that has continued to be extended.

Keohokalole, the state senator, said he wants to see the end of a system that has been “pushing local people out of their residential communities in favor of economic activity.”

“We’re seeing the wholesale conversion of residential communities in Hawaii to speculative, short-term rental development,” he said.

Hawaii Gov. Josh Green, after his annual state of the state address in January, said he was going to put “a lot of pressure” to curb short-term rentals because “that market should be for our local families,” according to the Associated Press. A majority of short-term rental owners don’t live in Hawaii, according to the governor.

Green, in a statement to the Los Angeles Times, said he supports the two bills going through the legislature that would allow for phasing-out such rentals.

“They would provide the counties with more tools to address vacation rentals in areas where they don’t want these operations to continue,” a spokesperson for Green said in a statement. “Gov. Green is open to additional changes to ensure that we can control the proliferation of illegal vacation rentals, to mitigate the years-long housing crisis that is causing local residents, our workforce of teachers, firefighters and other essential workers, to leave the islands.”

When could phase-outs begin?

Both bills have been voted out of their respective chambers and are moving into conference committee, where another round of changes can be made before a final vote — which must occur before May 3, the end of the state’s legislative session.

“Similar bills have been introduced every year for the last decade or so and never gone all that far,” Evslin said. “I don’t want to jinx it here, but I’m optimistic for their success. … I think that this is different in that there is really broad support across the legislature for action.”

If the measures pass, it would be up to county leaders to look into phasing out short-term rentals and in what capacity — but legally any phase-out would have to be occur over a reasonable amount of time, likely years, Evslin said.

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©2024 Los Angeles Times. Visit latimes.com. Distributed by Tribune Content Agency, LLC.