French Polynesia's Public Accounts Office has painted a bleak picture of the organisation in charge of the territory's social housing, the OPH.
Its report, which covers the decade to 2012, says targets have rarely been met and the organisation's finances are troubled.
It says since 2008 contracts had been drawn up for 17 projects but 12 are still in the planning stage.
The report says the OPH built 72 housing units a year while demand is such that there are nearly 3,000 approved applicants on a waiting list.
It says in 2010, only 78 percent of the rent was collected from its 2,800 housing units, leaving a shortfall of more than 22 million US dollars.
It highlights unstable leadership at the OPH, with 11 board chairs and nine directors in charge of the organisation over the 10-year period.