With the mounting economic challenges ahead, including the recent wave of foreclosure filings, it's clear that Isle residents are struggling with Hawai'i's high housing costs.

And for those living on the margins, the impact is felt most acutely. So it's imperative — particularly in these dire economic times — that the state's efforts to aid the homeless are not stalled.

Lawmakers are currently debating funding for two key housing programs in the budget bill: the Dwelling Unit Revolving Fund and the Rental Housing Trust Fund. Both requests are for $25 million in general obligation bond funding each, per year for the two-year budget cycle, and would support affordable rentals and housing.

A smart compromise would be to continue funding for both years, but at a scaled-back rate of $20 million per fund, for each year. And as the economy improves, supplemental funding requests can be made.

That would allow the state to keep several projects, totaling more than 5,000 affordable units, on track.

Affordable units are a critical component to curbing the homeless crisis. Emergency shelters provide some immediate relief and transitional housing fills the gap in providing key services and programs. From there, putting people into affordable housing is key, not only to their stability, but to freeing up existing shelter options.

"Even if they build as many as they have currently planned, that's not going to be enough to meet the demand," said Russ Saito, the state's homeless solutions coordinator.

Lawmakers should also greenlight the request for $33 million in general obligation bond funding for an affordable-housing project for seniors.

"This is the time that we need to fund these projects and move forward," said House Finance Chairman Rep. Marcus Oshiro "It's what I call a triple bottom line: We get economic development by moving forward with these projects, we get jobs in the construction industry who are currently on the bench, and we get affordable housing."

In addition to funding in the state budget and tapping into the federal funds on deck, the state is rightly seeking out opportunities to partner with nonprofit groups, faith-based groups and private agencies.

"We're just looking everywhere," Saito said.

That's a wise move. The state's most recent "point in time" count to be released shortly puts the number of "unsheltered" homeless at 2,470, the bulk of whom are on O'ahu.

Indeed, there are pressing demands as state lawmakers and leaders struggle with budget shortfalls and are forced to make some difficult choices.

But ensuring a strong, efficient social services safety net that includes affordable housing is crucial. Short-sighted cuts won't ensure the health, welfare and safety of our community in the long run.