If the University of Hawai'i-Manoa is to continue attracting and retaining more students and qualified faculty members, it must be given more financial flexibility to deal with its own housing crisis.

Presently, the university is not able to move quickly enough to take advantage of real estate opportunities because of cumbersome regulations and the requirement for legislative approval.

At a recent editorial board meeting, UH-Manoa Chancellor Denise Konan outlined a series of goals for the university as it celebrates its centennial anniversary. Among them: to attain as much housing as possible, and to create a more community-centered campus where students and faculty are able to live and work without needing a car.

Konan cited a lost opportunity when a block of apartment units near the campus went on the market. "It would have been perfect to house faculty, but by the time we'd go through the whole process, the opportunity would have come and gone."

A consultant's report released last week adds new urgency to the situation. That report recommended that UH tear down Hale Noelani and Wainani student apartment complexes, which were described as "unsafe." That would take 1,100 beds out of UH's dormitory inventory. The report also recommended that housing fees be significantly increased.

While it's important to apply oversight on spending, the university must have the ability to take action when an opportunity presents itself, especially in our tight real estate market.

This is the time to fix this systemic problem.

This legislative session, the university is seeking the ability to issue its own bonds to finance real estate purchases.

As the state's university, it must be given the tools it needs to attract new students and faculty members, and to keep those already here from leaving home. The university's ability to acquire housing can play a major part in achieving those goals.