My family used to stay in TVRs too. Now they stay somewhere else. Life goes on.
Think about this:
That house in Haiku could have been bought by the children of a third or fourth generation family and fixed up just as nicely. If they didn't have to compete with TVR 'investors', they could have got it cheap, too.
The third and fourth generation families bought their houses long before the real estate bubble - the houses are going into foreclosure are the ones that traded in the past few years when families had no choice but to pay inflated prices. Those prices were fueled by low interest rates and TVRs creating a huge demand in a market with limited supply.
Finally, I don't have an axe to grind - if anything, I lose when TVRs are shut down, because the market value of MY house goes down. But I think I will win in another area - I think the north shore will be a nicer place to live for my keiki if the people born and raised here with normal jobs can afford to buy a house and continue to live here.
I think that is far truer to the spirit of aloha than the short term gain of a few at the expense of many.