Maui Real Estate & Lifestyle News

Market Spotlight: Kapalua Bay Villas

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 30 May 2024 16:40:00 -1000

Introducing Kapalua Bay Villa 37B2-4, Kapalua Resort, Maui Where are the Kapalua Bay Villas located? Situated along the dramatic West Maui coastline, you'll find the Kapalua Bay Villas. The Kapalua Bay Villas has long been one of the Kapalua Resort’s favorite condominium communities. Consisting of 141 residences in 27 buildings, the Bay Villas are situated on 16.5 oceanfront acres in the heart of the Kapalua Resort. Built in 1977, the floorplans include spacious single-level living as well as townhouse-style one and two bedroom residences. The oceanfront and ocean view villas overlook the Pacific ocean and the Kapalua coastline, with direct beach access to Oneloa Bay. Amenities in this gated community include 3 swimming pools and two tennis courts. How is the market at the Kapalua Bay Villas? At the time of this post, there are five active listings ranging from $1,399,000 to $3,400,000There have been two sales Year to Date: 15G1-3, a 2B/3B residence that recorded at $2,950,00014G2, a 1B/1B residence that recorded at $1,500,000 Below is a chart of sales information for condos at the Kapalua Bay Villas from 2019 thru Q1 2024. Kapalua Bay Villas Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 10 30 7 14 Volume $2,950,000 $9,994,000 $17,764,000 $41,089,500 $7,538,000 $15,032,500 Low SP $2,950,000 $1,399,000 $1,300,000 $755,000 $675,000 $800,000 High SP $2,950,000 $1,900,000 $3,200,000 $2,900,000 $1,900,000 $1,485,000 Median SP $2,950,000 $1,697,500 $1,437,500 $1,237,000 $1,000,000 $1,062,500 Average SP $2,950,000 $1,665,667 $1,776,400 $1,369,650 $1,076,857 $1,073,750 Average SP/Sq. Ft $1,929 $1,734 $1,496 $1,104 $876 $872 Average DOM 84 124 68 232 149 287 Average SP/LP 99 99 100 97 92 93 Featured Residence: Kapalua Bay Villa 37B2-4 Nestled along the Kapalua coast, this single level two bedroom enjoys an ideal location at the Bay Villas. As you step into this beautifully designed residence, you are greeted by breathtaking views of the Pacific Ocean and open greenspace. The spacious open floor plan seamlessly blends indoor and outdoor living, with expansive sliding glass doors that lead to three private lanais, perfect for enjoying spectacular sunsets and gentle ocean breezes. The interior boasts beautiful finishes, custom cabinetry and countertops, stainless steel appliances, and updated flooring. The spacious primary suite offers a peaceful sanctuary with a private lanai, spa-like en-suite bathroom, complete with a soaking tub and walk-in shower. The Bay Villas offers access to onsite pools, tennis courts, and direct beach access to Oneloa Bay. In the Kapalua Resort, there are world-class amenities, including championship golf courses, tennis courts, incredible restaurants, and the nearby Spa Montage. A bright and airy residence, this is a rare offering of a single story two bedroom residence located on the second floor of the villas. Having no stairs to access or in the villa, it is a desirable floor plan for many, and only six of these floor plans were constructed at the Bay Villas. This residence features an updated kitchen, with a view out toward the ocean and looking over Hawea Point. Stainless steel appliances create a more contemporary feel. The dining room and large lanai provide ample space for entertaining, all while taking in Maui's beautiful sunsets. Oriented to the South West, this residence is sheltered from the prevailing tradewinds. The bedroom suites are on each side of the lanai. Both feature updated bathrooms, as well as private lanais. For more information, please contact Courtney with any questions about this listing or the KapaluaResort real estate market. Kapalua Bay Villas Condos for Sale

Maui Property Tax Rates: Fiscal Year July 1, 2024-June 30, 2025

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 30 May 2024 12:43:00 -1000

Maui Property Taxes Fiscal Year July 1, 2024-June 30, 2025Changes: Classifications & Rates Each year, Maui County does two things: assesses the value of the property AND sets new rates for the upcoming fiscal year, which runs from July 1st-June 30th. The Maui County Council has proposed the rates below for 2024-2025 as well as a summary of how they've changed over the years. Maui County Property Tax Rates 2024 vs Prior Years Rates are per $1000 of assessed value. In 2020, the County introduced a new Tiered assessment. Prior to that, there was a flat rate per the classification. Classification 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Owner Occupied $1.80-3.25 $1.90-2.75 $2.00-2.71 $2.41-2.71 $2.51-2.61 $2.90 $2.85 $2.86 $2.70 $2.78 Tier 1 <$1,000,000 $1.80 $1.90 $2.00 $2.41 $2.51 NA NA NA NA NA Tier 2 $1,000,001-$3,000,000 $2.00 $2.00 $2.10 $2.51 $2.56 NA NA NA NA NA Tier 3 $3,000,001> $3.25 $2.75 $2.71 $2.71 $2.61 NA NA NA NA NA Non-Owner Occupied $5.87-$14.00 $5.85-12.50 $5.85-12.50 $5.45-8.00 $5.45-6.90 $5.60 $5.52 $5.54 $5.30 $5.40 Tier 1 <$1,000,000 $5.87 $5.85 $5.85 $5.45 $5.45 NA NA NA NA NA Tier 2 $1,000,001-$3,000,000 $8.50 $8.00 $8.00 $6.05 $6.05 NA NA NA NA NA Tier 3 $3,000,001> $14.00 $12.50 $12.50 $8.00 $6.90 NA NA NA NA NA Apartment $3.50 $3.50 $3.50 $5.55 $5.55 $6.31 $6.31 $6.32 $6.00 $6.00 Hotel & Resort $11.75 $11.75 $11.75 $11.75 $10.70 $11.00 $9.37 $9.37 $8.71 $8.85 Timeshare $14.60 $14.60 $14.60 $14.60 $14.40 $14.40 $15.41 $15.43 $14.31 $14.55 Short Term Rental $12.50-$15.00 $11.85 $11.85 $11.11-11.20 $11.08 $10.75 $9.28 NA NA NA Tier 1 <$1,000,000 $12.50 $11.85 $11.85 $11.11 $11.08 NA NA NA NA NA Tier 2 $1,000,001-$3,000,000 $13.50 $11.85 $11.85 $11.15 $11.08 NA NA NA NA NA Tier 3 $3,000,001> $15.00 $11.85 $11.85 $11.20 $11.08 NA NA NA NA NA Long Term Rental $3.00-$8.00 $3.00-8.00 $3.00-8.00 NA NA NA NA NA NA NA Tier 1 <$1,000,000 $3.00 $3.00 $3.00 NA NA NA NA NA NA NA Tier 2 $1,000,001-$3,000,000 $5.00 $5.00 $5.00 NA NA NA NA NA NA NA Tier 3 $3,000,001> $8.00 $8.00 $8.00 NA NA NA NA NA NA NA Agricultural $5.74 $5.74 $5.74 $5.94 $5.94 $5.94 $6.00 $6.01 $5.80 $5.90 Conservation $6.43 $6.43 $6.43 $6.43 $6.43 $6.43 $6.35 $6.37 $5.80 $5.90 Commercial (all three tiers) $6.05 $6.05 $6.05 $6.29 $6.29 $7.39 $7.25 $7.28 $6.60 $6.60 Industrial $7.05 $7.05 $7.05 $7.20 $7.20 $7.48 $7.45 $7.49 $6.69 $6.85 Commercialized Residential $4.00-$8.00 $4.40 $4.40 $4.40 $4.40 $4.60 $4.55 $4.56 $4.35 $4.35 Tier 1 <$1,000,000 $4.00 NA NA NA NA NA NA NA NA NA Tier 2 $1,000,001-$3,000,000 $5.00 NA NA NA NA NA NA NA NA NA Tier 3 $3,000,001> $8.00 NA NA NA NA NA NA NA NA NA How do you calculate your property taxes given the new tiered system? Maui County has prepared this information, however, please note that the tiered amounts have changed since this was proposed. View How to Calculate Maui County Property Taxes using the Tiered System How have Maui Property Taxes Changed? What increased in 2024 vs. 2023? Owner Occupied/Homeowner. Tier 1 (-5), Tier 2 (0), Tier 3 (+18) Non-Owner Occupied. Tier 1 (0), Tier 2 (+6), Tier 4 (+12) Short Term Rental: Tier 1 (+5), Tier 2 (+14), Tier 3 (+27) Commercialized Residential: Tier 1 (-9), Tier 2 (+14), Tier 3 (+82) No Change: Apartment, Hotel& Resort, Timeshare, Agriculture, Conservation, Commercial, Industrial Looking back over the past 5 years, the county introduced a tiered system, which assesses taxes in three tiers: 1. Up to $1M2. $1,000,001 to $3,000,0003. $3,000,000 and over It has decreased the property tax rates for the first tier of value for homeowners, as well as in apartment owner. Other classifications like Agricultural and Conservation zoning have held steady. The largest increases have been to Short Term Rentals, Hotels & Resorts, and second homeowners, and this year in commercialized residential. The County of Maui has been under pressure to keep housing affordable for local homeowners and residents and to provide affordable housing. To incentivize owners to rent long-term (12-month leases or longer), they've introduced a lower property tax rate and an exemption. In December 2020, the County Council unanimously passed Bill 129. In an effort to bolster housing for local residents, the county passed Bill 129 which creates an additional tax advantage to someone choosing to rent their property on a long-term basis. This bill essentially creates a "long-term rental" tax classification and exemption, and took effect in 2022. The long-term-rental exemption form is available with other forms at: https://www.mauicounty.gov/1953/RPA-Forms-andInstructions. The deadline to file for the long-term rental exemption for the next fiscal year is December 31st. Per the Maui County property tax website: "Property is classified based upon its highest and best use. Properties receiving home exemptions, long-term rental exemptions, permitted bed and breakfasts and permitted transient vacation rentals are exceptions." What do Maui County Classifications mean? Per the Maui County website*, the County of Maui details the classifications of real property as follows: Time Share – real property that is subject to a time share plan as defined in section 514E-1, Hawaii Revised Statutes. Non-owner-occupied - real property improved with a dwelling that would not be classified as “owner-occupied,” “hotel and resort,” “time share,” “TVR-STRH,” “commercial,” “industrial,” “commercialized residential,” or “long-term rental." Commercialized Residential – real property that serves as the owner’s principal residence and has been granted a bed and breakfast home permit, a short-term rental home permit, or operates as a transient vacation rental, and cannot qualify for a home exemption. TVR-STRH – lodging or dwelling units occupied by transient tenants for periods of less than six consecutive months, including real property that does not serve as the owner’s principal residence and has been granted a short-term rental home permit or a conditional permit allowing transient vacation rental use without regard to its highest and best use and cannot qualify for a home exemption. Apartment – multi-dwelling-unit improvements containing five or more dwellings that would not be classified ““TVR-STRH.” Commercial Industrial Agricultural Conservation Hotel and Resort – properties occupied by transient tenants for period of less than six consecutive months, have eight or more lodging or dwelling units and employ more than twenty full time persons. Owner-occupied – real property owned and occupied as a principal home and for which a home exemption was filed and granted. Long-term rental – dwelling units occupied by long-term tenants for periods of twelve consecutive months or more to the same tenant and have been granted a long-term rental exemption. . Note: No definition was provided for Commercial, Industrial, Agricultural or Conservation. *This information taken from https://www.mauicounty.gov/755/Classification-for-Tax-Rate-Purposes as of the date of this post. It is subject to change. Maui County Property Tax Important Dates July 1—Tax year commences. Taxes are calculated based upon January 1 assessed values and fiscal year tax rates. July 20 — First half of fiscal year tax bills mailed. August 20 — First half of fiscal year tax payments due. September 1 — Deadline for filing dedication petitions. December 1 — Condominium AOAO use declaration. December 31 — Deadline for filing circuit breaker applications for the next fiscal year. December 31 — Deadline for filing exemption claims and ownership documents. January 1 — Assessed values established for use during the next tax year. January 20 — Second half of fiscal year tax bills mailed. February 20 — Second half of fiscal year tax bills due. March 15 — Assessment notices mailed. April 9 — Deadline for filing appeals. May 1 — Certified assessments forwarded to the County Council for budget purposes. June 20 — Tax rates established by the County Council For additional information, all dates to remember, and appeals information visit the Maui County website

Maui Real Estate Statistics for April, 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Wed, 15 May 2024 14:51:00 -1000

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. The report notes: U.S. existing-home sales recently fell from a one-year high, dropping 4.3 month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7 in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8 increase from the previous month, according to NAR. New Listings increased 3.7 percent for Single Family homes and 36.6 percent for Condominium homes. Pending Sales increased 5.8 percent for Single Family homes but decreased 31.2 percent for Condominium homes. Inventory increased 1.8 percent for Single Family homes and 141.0 percent for Condominium homes. Median Sales Price increased 16.9 percent to $1,300,000 for Single Family homes and 8.4 percent to $962,500 for Condominium homes. Days on Market decreased 10.5 percent for Single Family homes but increased 22.1 percent for Condominium homes. Months Supply of Inventory increased 2.4 percent for Single Family homes and 176.9 percent for Condominium homes. Warmer temperatures appear to have helped bring some sellers back to the market, providing additional options to home shoppers during the spring buying season. Total inventory was up 4.7 month-over-month and 14.4 year-over-year, for a 3.2 months’ supply at the current sales pace, according to NAR. Nevertheless, demand continues to outpace supply and properties are selling quickly, with the typical home spending 33 days on market nationwide, down from 38 days the month before. MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES* Active Listings: 233 homes from $720,000 for a home for sale in Hana to $42,500,000 for a home for sale on Keawakapu Beach. This is followed by a $33,000,000 oceanfront home for sale in Makena and a $30,000,000 oceanfront home for sale in Kapalua ResortPending: 143 homes from $490,000 Leasehold for a home in Hawaiian Home Lands to $9,975,000 for a home in Kula.Sold (2024): 276 homes from $405,000 in Haiku to $18,500,000 for a home in Keahou Makena MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 537 condos listed from $235000 Leasehold for a condo in Honokowai to $18,000,000 for a condominium residence at Wailea PointPending: 110 condos pending, ranging from $259,000 for a condo in Kahului to $6,495,000 for a condominium at the Montage Kapalua BaySold (2024): 366 condos sold, ranging from $95,000 to $12,000,000 for a condo at Montage Kapalua Bay At the last update, the Active listings were 437 and pending sales were 171, This large increase in listings and decrease in pending sales is likely attributable to theproposed changes to Maui County's Short Term Rental rules and regulations. MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 129 parcels from $150,000 in Keanae to $55,000,000 for over 160 acres in MakenaPending: 28 lots from $299,000 in Hana to $2,000,000 for a lot in KulaSold (2024): 81 lots from $175,000 in Haiku to $11,700,000 for 26 acres sold as part of Discovery's Makena Golf and Beach Club. *Molokai and Lanai are not included in the above-written summaries, although they are a part of Maui County. This data is taken from the MLS on the date of this post, 5/15/24 Read the full report and see how it compares to prior years here: Maui Real Estate Statistics

Maui's Resort Areas: a Nine Month Review of the Market

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 10 May 2024 17:47:00 -1000

Maui's Resort Areas: a 9 Month Review of the Market for Condos and Homes How the past nine months compare with the same period in the prior year Maui has been slowly recovering in the wake of the tragic fire of August 8, 2023. Many buyers and sellers have asked me how the market is doing, so I've compiled some data for both condominium and home sales by area comparing the period from 8/8/23-5/8/24 with the same period in 22-23. West and South Maui Condo Sales The statistics show that sales are down primarily in West Maui, with the condominium market in Kapalua hit the hardest, with number of sales down -66 and dollar volume down 49. with uncertainty regarding the future of Short Term Rentals in the apartment zone, we are seeing more sales at hotel-zoned properties. Kaanapali has more hotel-zoned properties (like Honua Kai, Whaler, Alii, and Mahana) at lower prices than Kapalua, which has the Montage Residences, Kapalua Bay and the Ritz-Carlton, Kapalua, which command higher sales prices. However, while it appears that condo sales are up in Wailea & Makena, and subsequently, South Maui, they are actually down -19 if you remove the new developer sales. It's important to note that two developments began closing in 2022-2023 (Paradise Ridge in Kihei and Makena Golf & Beach Club). In 2023-204, we continued to see new sales recording at Makena Golf & Beach Club and at Lai Loa. In the last 9 months, there were 55 sales at Lai Loa and 13 at Makena GBC. This amounts to 60 of the Wailea/Makena condo sales. The low sales price was $1,519,250 and the high was $13,000,000. The total sales volume at these two complexes was $291,586,280 or 60 of the total dollar volume. It also impacts stats such as days on market, as they typically will go under contract pre-construction. That is why the average days on market for this period for all of Wailea/Makena is 620, but if the new development is removed, it is actually 95. It is also important to note where we are seeing the majority of the sales activity. In the last nine months, the bulk of the condo sales (96) in West Maui are under $3,000,000. In fact, 62 were under $1M, 29 from $1-2M, and 5 from $2-3M. In West Maui, there was only one sale over $5M, a Montage Residence at Kapalua Bay that closed at $12M In South Maui those stats are a bit different due to the new developments, with 88 under $3M and 12 from $3-13M. I expect we may see a slowing of sales in the condominium market in the next quarter, particularly in those areas not zoned hotel, on the heels of the Mayor's announcement of a bill to phase out short term rentals in apartment zones. This affects more than 7000 properties that currently rent legally under Chapter 19.12.020 of the County Code. Read More about the proposed legislation that is impacting Maui's Short Term Rentals Volume () of Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui 657 610 -7 West Maui 273 188 -31 South Maui 384 422 10 Maalaea 33 27 -18 Kihei 286 279 -2 Wailea Makena 65 116 78 Wailea (exclude new dev) 57 46 -19 Lahaina 56 2 -96 Kaanapali 62 59 -5 Napili/Kahana/Honokowai 126 117 -7 Kapalua 29 10 -66 Volume ($) Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui $807,171,395 $964,984,382 20 West Maui $313,600,610 $214,749,408 -32 South Maui $493,570,785 $732,114,974 48 Maalaea $23,137,500 $20,138,580 -13 Kihei $245,201,236 $257,362,116 5 Wailea Makena $225,232,049 $454,614,278 102 Wailea (exclude new dev) $135,857,149 $163,027,998 20 Lahaina $59,165,500 $235,000 -100 Kaanapali $94,589,500 $96,732,250 2 Napili/Kahana/Honokowai $96,646,610 $85,785,158 -11 Kapalua $63,199,000 $31,997,000 -49 Median Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui $852,500 $915,000 7 West Maui $885,000 $827,500 -6 South Maui $831,250 $959,500 15 Maalaea $709,000 $701,000 -1 Kihei $794,000 $800,000 1 Wailea Makena $2,050,000 $2,662,275 30 Wailea (exclude new dev) $1,795,000 $2,800,000 56 Lahaina $850,000 $117,500 -86 Kaanapali $1,346,250 $1,500,000 11 Napili/Kahana/Honokowai $755,000 $689,000 -9 Kapalua $1,675,000 $2,297,500 37 Low Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM * $160,000 $95,000 -41 West Maui * $160,000 $95,000 -41 South Maui *** $345,000 $239,000 49 Maalaea *** $390,000 $326,000 -16 Kihei ** $390,000 $239,000 -39 Wailea Makena $1,095,000 $999,999 -9 Wailea (exclude new dev) $1,095,000 $999,999 -9 Lahaina* $330,000 $95,000 -71 Kaanapali *** $380,000 $475,000 25 Napili/Kahana/Honokowai *** $160,000 $210,000 31 Kapalua $655,000 $750,000 15 High Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $13,000,000 $13,000,000 0 West Maui $6,250,000 $12,000,000 92 South Maui $13,000,000 $13,000,000 0 Maalaea $1,225,000 $1,350,000 10 Kihei $2,400,000 $2,400,000 0 Wailea Makena $13,000,000 $13,000,000 0 Wailea (exclude new dev) $11,575,000 $11,750,000 2 Lahaina $4,875,000 $140,000 -97 Kaanapali $5,525,000 $4,625,000 -16 Napili/Kahana/Honokowai $2,300,000 $1,950,000 -15 Kapalua $6,250,000 $12,000,000 92 Avg Days on Market Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 121 187 55 West Maui 94 97 3 South Maui 141 227 61 Maalaea 66 64 -3 Kihei 145 79 -46 Wailea Makena 161 620 285 Wailea (exclude new dev) 96 95 -1 Lahaina 73 85 16 Kaanapali 62 102 65 Napili/Kahana/Honokowai 88 92 5 Kapalua 140 127 -9 Condo Sales by Price Range of Sales (West Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 159 116 -27 $1,000,001-2,000,000 88 55 -38 $2,000,001-3,000,000 17 10 -41 $3,000,001-4,000,000 2 3 50 $4,000,001-5,000,000 4 3 -25 $5,000,001-6,000,000 2 0 -100 $6,000,001-7,000,000 1 0 -100 $7,000,001-8,000,000 0 0 -- $8,000,001-9,000,000 0 0 -- $9,000,001-10,000,000 0 0 -- $10,000,001+ 0 1 100 of Sales (South Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 254 229 -10 $1,000,001-2,000,000 90 103 14 $2,000,001-3,000,000 22 40 82 $3,000,001-4,000,000 2 22 1000 $4,000,001-5,000,000 5 5 0 $5,000,001-6,000,000 1 2 100 $6,000,001-7,000,000 1 3 200 $7,000,001-8,000,000 0 3 300 $8,000,001-9,000,000 0 1 100 $9,000,001-10,000,000 1 5 400 $10,000,001+ 8 9 13 West and South Maui: Home Sales In West Maui, 73 of the home sales were under $3M, with the largest percentage in the $1-2M range. In South Maui, the figure was higher for homes under $3M at 84. That said in West Maui, there were only 3 sales over $5M and in South Maui, there were 9 sales over $5M. It is not surprising to see sales in the lower end of the market, as some of those who received insurance payouts opted to relocate. Lower priced inventory was harder to come by and home sales ( of Sales) was down everywhere except Wailea and Makena, where sales were up 11. In terms of Volume of sales ($) both Wailea and Makena were up, as was Napili/Kahana/Honokowai, which has more affordable housing than the resort areas of Kaanapali and Kapalua. It should be noted that Lahaina also includes the areas of Launiupoko and Olowalu. The sales in Lahaina these last nine months, were largely in Launiupoko (15), though there were 2 sales up in Kelawea which were out of the burn zone. Volume () of Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 196 163 -17 West Maui 79 55 -30 South Maui 117 108 -8 Maalaea 0 1 100 Kihei & Maui Meadows 86 87 1 Wailea Makena 18 20 11 Launiupoko 14 13 -7 Lahaina 38 17 -55 Kaanapali 11 11 0 Napili/Kahana/Honokowai 23 23 0 Kapalua 6 4 -33 Volume ($) of Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $514,413,413 $389,186,422 -24 West Maui $229,264,222 $141,335,466 -38 South Maui $285,149,191 $247,850,956 -13 Maalaea $0 $2,933,006 -- Kihei & Maui Meadows $110,807,700 $135,060,000 22 Wailea Makena $142,618,491 $109,857,950 -23 Launiupoko $69,803,758 $42,314,500 -39 Lahaina $106,818,723 $47,880,250 -55 Kaanapali $50,390,000 $36,555,000 -27 Napili/Kahana/Honokowai $33,130,499 $37,300,216 13 Kapalua $36,825,000 $19,600,000 -47 Median Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $1,410,000 $1,695,000 20 West Maui $1,800,000 $2,000,000 11 South Maui $1,250,000 $1,482,500 19 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $1,095,000 $1,375,000 26 Wailea Makena $4,781,000 $3,745,000 -22 Launiupoko $3,950,000 $3,087,000 -22 Lahaina $1,665,000 $2,995,000 80 Kaanapali $2,850,000 $2,700,000 -5 Napili/Kahana/Honokowai $1,529,000 $1,690,000 11 Kapalua $5,787,500 $5,000,000 -14 Average Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $2,624,598 $2,387,646 -9 West Maui $2,902,078 $2,569,735 -11 South Maui $2,437,172 $2,294,916 -6 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $1,288,461 $1,552,413 20 Wailea Makena $7,923,249 $5,492,897 -31 Launiupoko $4,985,982 $3,254,961 -35 Lahaina $2,811,019 $2,816,485 0 Kaanapali $4,580,909 $3,323,181 -27 Napili/Kahana/Honokowai $1,440,456 $1,621,748 13 Kapalua $6,137,500 $4,900,000 -20 Low Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $450,000 $693,500 54 West Maui $450,000 $750,000 67 South Maui $450,000 $693,500 54 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $450,000 $693,500 54 Wailea Makena $2,200,000 $1,930,000 -12 Launiupoko $1,680,000 $1,600,000 -5 Lahaina $450,000 $855,750 90 Kaanapali $1,900,000 $1,860,000 -2 Napili/Kahana/Honokowai $700,000 $750,000 7 Kapalua $4,150,000 $3,150,000 -24 High Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $32,673,491 $18,500,000 -43 West Maui $20,750,000 $6,450,000 -69 South Maui $32,673,491 $18,500,000 -43 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $10,000,000 $4,000,000 -60 Wailea Makena $32,673,491 $18,500,000 -43 Launiupoko $9,750,000 $5,000,000 -49 Lahaina $9,750,000 $5,000,000 -49 Kaanapali $20,750,000 $5,350,000 -74 Napili/Kahana/Honokowai $2,450,000 $2,150,000 -12 Kapalua $7,900,000 $6,450,000 -18 Average Days on Market: Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 119 110 -8 West Maui 126 132 5 South Maui 115 99 -14 Maalaea NA 0 -- Kihei & Maui Meadows 117 92 -21 Wailea Makena 119 134 13 Launiupoko 154 175 14 Lahaina 127 163 28 Kaanapali 170 155 -9 Napili/Kahana/Honokowai 91 84 -8 Kapalua 159 216 36 Homes of Sales (West Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 12 4 -67 $1,000,001-2,000,000 35 24 -31 $2,000,001-3,000,000 9 12 33 $3,000,001-4,000,000 8 6 -25 $4,000,001-5,000,000 1 6 500 $5,000,001-6,000,000 5 2 -60 $6,000,001-7,000,000 1 1 0 $7,000,001-8,000,000 3 0 -100 $8,000,001-9,000,000 3 0 -100 $9,000,001-10,000,000 1 0 -100 $10,000,001+ 1 0 -100 of Sales (South Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 32 16 -50 $1,000,001-2,000,000 56 56 0 $2,000,001-3,000,000 12 21 75 $3,000,001-4,000,000 6 6 0 $4,000,001-5,000,000 1 3 200 $5,000,001-6,000,000 3 0 -100 $6,000,001-7,000,000 1 3 200 $7,000,001-8,000,000 1 0 -100 $8,000,001-9,000,000 0 0 -- $9,000,001-10,000,000 1 3 200 $10,000,001+ 4 3 -25 Note: This information is taken from the Maui MLS as of 5/10/24. While care is taken to compile this information, it is not guaranteed and subject to change and some information may be entered at a later date. Any interested party should do their own due diligence. These are small statistical samples and can swing wildly by a low or high sale. If you have questions, please contact Courtney.

Maui Short Term Rentals: a list of Maui's Hotel Zoned Properties

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Mon, 06 May 2024 13:38:00 -1000

Maui's Hotel Zoned Condominiums On May 3, 2024, the Mayor of Maui County announced that he intends to submit a bill to the Planning Commission and the Maui County Council to phase out short-term rentals in the Apartment Zones. Per the County of Maui's website: "the bill would phase out and repeal decades-old transient vacation rentals (TVRs) operating in the Apartment District, also known as the Minatoya list TVRs. These TVRs – numbering 7,000 units (2,200 of which are in West Maui) – would phase out West Maui units by July 1, 2025, and all other units countywide by Jan. 1, 2026, with the bill’s approval." Given this announcement, many prospective buyers who are looking for a property that can be used part-time and rented when they are not in residence are focusing on Hotel Zoned Properties, as transient rentals are allowed for properties in the hotel zone per the county code. Which Maui Condominium Properties are Hotel Zoned? WEST MAUI HOTEL ZONED VACATION RENTAL CONDOS Kapalua Montage Residences, Kapalua Bay (H-M) Ritz-Carlton Kapalua (H-M) Napili Napili Ridge (H-1 & A-2) * Napili Shores (H-M) Napili Sunset (Hotel) Napili Surf & Napili Puamala (Hotel & H-M) *Note: this is per the DCCA at https://web.dcca.hawaii.gov/--MauiCountyPropertyTax.com shows Napili Ridge as NBCID The following are not zoned hotel--they are located in the Napili Bay Civic Improvement District (Read More) Hale Napili (NBCID) Honokeana Cove (NBCID) Napili Bay (NBCID) Napili Gardens (NBCID) Napili Kai (Puna Point 1, Puna Point 2, Napili Lani) | (NBCID | Puna II Hotel) Napili Point 1 & 2 (NBCID) Kaanapali Honua Kai (H-2) Honua Kai Luana Gardens (H-2 & R-3) Kaanapali Alii (Hotel | H-2) Kaanapali Shores (A-2 & H-2) Mahana (H-2) Maui Kai (Hotel-Apartment) The Whaler (H-2) Kahana Hololani (H-2) Kahana Villa (H-M) Pohailani Maui (Hotel Zoning on Oceanside only & Duplex-1 on Mauka Side) Royal Kahana (H-2) Valley Isle Resort (H-2) Honokowai Papakea (H-2 & A-2) Lahaina Aina Nalu (H-1)* Lahaina Shores (H-2)* *these properties are in the burn zone. Aina Nalu is no longer standing. Lahaina Shores while standing cannot currently be occupied. SOUTH MAUI Makena Polo Beach Club (H-M) Makena Surf (Hotel) Makena Beach Club & Residences (H-M) Wailea Andaz Residences (H-2) Ho'olei (H-1) Wailea Beach Villas (H, H-1, H-2, BR) Wailea Elua (H-1 & Open) Wailea Point (H-1 & H-2) * *note CC&Rs at Wailea Point prohibit Short Term Rentals Kihei Kihei Akahi (H-1 & H-2) Kihei Holiday Kihei Kai Nani (Hotel) Kihei Surfside (H-M) Mana Kai (Hotel) Maui Banyan (H-1, H-2, H-M) Maui Parkshore (Hotel & Apartment) Maui Sunset (Hotel) Hana Hotel Hana Maui (Hotel) H is Hotel Zoned, and includes H-1, H-2, H-M NBCID is the Napili Bay Civic Improvement DistrictZoning is taken from the DCCA website https://web.dcca.hawaii.gov/DPR.Net/Public/ShowPublicTable.aspx and/or county tax records and should be verified by any interested party for accuracy. About Maui Vacation Rentals and Condominiums For anyone considering a short term rental property a few helpful tips: Maui County defines anything less than 180 days as a short-term rental Short-term rentals are allowed if the condominium property is hotel zoned. If it is not Hotel Zone and is in the Apartment Zone, the short-term rentals may be allowed if it falls under the Minatoya Opinion (see below) You MUST have an on-island property manager. If they manage property for more than one owner, the property manager must hold an active real estate license. Homes are far less easy to vacation rent, as short-term rentals in Residential Zoning are only allowed with a Short Term Rental Home Permit, B&B Permit, or Variance. The above list is not a complete list. The list was gathered using the Short Term Occupancy List on the County of Maui website. However, only those complexes with searches available in the Maui MLS are listed. Maui County has strict rules about vacation rental condominiums and short-term rentals. Condominiums built in the Hotel Zone can be rented, however, there are different rules for those built in the Apartment Zone and those in Residential Zones. Per the current county code (County Code Chapter 19.12.20 section G), TVRs of condominiums are permitted in apartment zoning if they meet the following criteria: 1. The building or structure received a building permit, special management area use permit, or planned development approval that was lawfully issued by and was valid, or is otherwise confirmed to have been lawfully existing, on April 20, 1989.2. Transient vacation rental use was conducted in any lawfully existing dwelling unit within the building or structure prior to September 24, 2020 as determined by real property tax class or payment of general excise tax and transient accommodations tax.3. The property owner or operator holds general excise tax and transient accommodations tax licenses and is current in payment of State and County taxes, fines, or penalties assessed in relation to the transient vacation rental.4. If a building or structure is reconstructed, renovated, or expanded, transient vacation rental use is limited to the building envelope and number of bedrooms that can be confirmed as approved or lawfully existing on April 20, 1989.5. Advertisements for transient vacation rental use must include the subject property's registration number, which is the subject property's tax map key number, without punctuation marks. Other condominiums can be rented because of zoning ordinances (Alaeloa is an example) or the location (such as those that fall within the Napili Bay Civic Improvement District). Others may technically allow it per the list, but the CC&Rs have restrictions that may make vacation rentals that further restrict rentals (Wailea Point is an example). *The Short Term Occupancy List published by the county notes: "This list does not grant any entitlement that is not allowed by zoning or other provisions of the Maui County Code. This list is subject to error; to determine if short-term if short term occupancy is allowed on any property, confirmation should be obtained from the Planning Department." The list is subject to change. Click here to view a list of Condominiums that fall under the Short Term Rental Condominiums as of 3.20.2024 If the Mayor's proposal goes through this section of the county code would change. REQUEST INFORMATION ON VACATION RENTABLE CONDO LISTINGS Thinking of buying or selling a condo that can be rented short-term when you aren't in residence? Complete the form below for a complimentary, up-to-date Comparative Market Analysis. Or, let me know if you have any questions or to request additional information on available listings and the real estate market. CLICK TO REGISTER to create a free, private account, which will allow you to save listings, receive notices of new listings, and monitor the market.

Maui Short Term Rental Update: May 4, 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Mon, 06 May 2024 13:36:00 -1000

MAUI VACATION RENTAL (TRANSIENT ACCOMMODATIONS) & SHORT TERM RENTAL UPDATE: MAY 2024 Maui, like many places around the US that are popular vacation destinations, has grappled with affordable housing and workforce housing for decades. The wildfire that swept through Lahaina town on August 8, 2023 has highlighted the critical need for affordable housing in Maui County. Since the fire, the Hawaii State Legislature passed SB2919 on May 2, 2024. It was signed into law by Governor Josh Green on May 4, 2024. Per the governor's website, "By addressing the issue of illegal short-term rentals, SB 2919 aims to alleviate Hawaiʻi’s housing crisis and increase housing levels throughout the state. This bill provides counties with home rule authority to see that vacation rentals are not allowed in communities that do not want them." Read More In anticipation of the governor signing the bill into law, Maui County's Mayor Richard Bissen held a press conference on May 3rd. During that conference, he announced his intent to present a bill that “If successful, this legislation will support the return of approximately 7,000 transient vacation rentals (TVRs) to the local housing market and specifically 2,200 in West Maui, again, for long-term rental consideration.” It should be noted that these rentals have not been operating illegally, but rather these are legal short term rentals through a section of the Maui County Code, Chapter 19.12.020 It should be noted that draft of the Mayor's proposed bill is not yet available. As described by the Mayor, the measure would: Phase out all STRs on the Minatoya List located in West Maui effective July 1, 2025. Phase out all STRs on the Minatoya List located in all other parts of Maui effective January 1, 2026. The Bill is scheduled to be heard by the Maui Planning Commission on June 25, 2024 with Molokai and Lanai Planning Commission hearings to follow. Below are some frequently asked questions and links to resources and source information. As always, interested parties are advised to do their own due diligence and consult with the appropriate professional, as county zoning rules and ordinances may change over time. MAUI TRANSIENT/SHORT-TERM/VACATION RENTAL FAQS For the purpose of the information below, "Transient Vacation Rental" or "TVR" is used interchangeably with the terms short-term rentals and vacation rentals. 1. What is a Transient Vacation Rental (TVR)? Per Maui County's website, a TVR (short-term or vacation rental) is any rental of a housing unit for less than 180 days. The Maui County Code Chapter 19.37 prohibits transient vacation rentals outside of the hotel district. List of Maui's Hotel Zoned Condos 2. What if the condominium property I'm considering does not fall under Maui County's Code's Hotel District? Can I still rent it short-term as a TVR? What is the Minatoya List? Per the Maui County TVR FAQ webpage: "An estimated 16,000-plus TVRs may operate legally in the County, many in multi-unit buildings, along with several hundred single family units. They operate legally because they are in an approved zoning district (hotel, business, historic, etc). Those that are not in approved districts and are operating legally, have applied for and received a “conditional permit” that is required to conduct a vacation rental business in a residential, rural or agricultural zoned district." Per the current county code (County Code Chapter 19.12.020 section G), TVRs of condominiums are currently permitted in apartment zoning (A-1 and A-2) if they meet the following criteria: 1. The building or structure received a building permit, special management area use permit, or planned development approval that was lawfully issued by and was valid, or is otherwise confirmed to have been lawfully existing, on April 20, 1989.2. Transient vacation rental use was legally conducted in any lawfully existing dwelling unit within the building or structure prior to September 24, 2020 as determined by real property tax class or payment of general excise tax and transient accommodations tax.3. The number of rooms or units allowed for transient vacation rental use may not increase beyond those allowed for such use as of January 7, 2022. Existing transient vacation rentals may be reconstructed, renovated, or expanded if no new rooms or transient vacation rental units are added.4. The property owner or operator holds general excise tax and transient accommodations tax licenses and is current in payment of State and County taxes, fines, or penalties assessed in relation to the transient vacation rental.5. The planning director and director of finance must maintain a publicly available list of all transient vacation rental units allowed under this section to the best of the departments' knowledge at the time the list is posted. The list is informational only and is not a confirmation of zoning or allowable uses. Inclusion of a property on the list does not establish any right to operate a transient vacation rental unit, and no person may rely upon the list to establish the right to operate as a transient vacation rental unit. Any interested person must consult the department with respect to any specific property's ability to operate as a transient vacation rental unit.6. Advertisements for transient vacation rental use must include the subject property's registration number, which is the subject property's tax map key number, without punctuation marks.7. A declaration in accordance with section 19.12.025 must not have been filed. This section of the county code and the vested rights to conduct transient vacation rental use may change under the Mayor's proposed bill. List of Condominiums under the County of Maui Short Term Rental List as of 3.20.2024. Updated List of Condominiums per the County of Maui Short Term Rental List updated 6.27.2024 3. What is the Minatoya List? In 2001, Maui County's Deputy Corporate Counsel, Richard K. Minatoya, issued a legal opinion that was later codified in Chapter 19.12.020. Subsequently, there is a list of condominiums, apartments and planned developments that meet the criteria outlined above in question 2. The County of Maui maintains "a list of Apartment-zoned properties that are generally recognized to have the vested right to conduct transient vacation rental use under the current county code." This list is often referred to as the "Minatoya List". It is noted on the list "This list does not grant any entitlement that is not allowed by zoning or any other provisions of the Maui County Code. This list is subject to error; to determine if short-term occupancy is allowed on any property, confirmation should be obtained from the Department of Planning." If the mayor's proposed legislation passes, the apartment-zoned condominiums on this list would be affected. It is not known if other zonings would be affected or those rentals allowed by ordinances. The proposal may go through revisions at the Planning Department and at the County Council. It is advised to seek confirmation from the Department of Planning and keep updated on the legislation. 4. What if I am considering a single-family residence or ohana? For a single-family and/or ohana home in the Apartment, Residential and Agricultural Districts, if an exemption is not in place for the subdivision, an owner would have to apply for and gain approval for one of the following in order to use the property as a TVR: B&B Permit (County Code Chapter 19.64), per the zoning ordinances, the owner/proprietor of a B&B shall be a resident of the County and shall reside, on a full-time basis, on the same lot being used as the bed and breakfast home. Short Term Rental Home (STRH) Permit (County Code Chapter 19.65). It should be noted that short-term rental home permits are subject to a variety of conditions, the owner must have owned the home for five years prior to the application, they are currently non-transferable, and the county has placed caps on the number allowed in each area. Conditional Use Permit: Outside of the above zoning districts, there are short-term rentals that have received approval to operate with a Conditional Permit. 5. For homes with Short-Term Rental Home Permits. Any Updates since originally the permit process was introduced? Yes. The following are some key updates to the code: Update as of 4/12/2018: Maui County has passed a law that changes one of the requirements for the ability to apply for a permit to rent for any period of less than 180 days if the property does not have hotel zoning. Previously, the application required that the home be at least five years old. With the new law, the applicant must have owned the home for five years prior to applying for the short-term rental home permit. This new law was passed on 3/27/2018 takes effect on 9/27/2018. Update as of 1/7/2022: Maui County Council passed a two-year moratorium on new short-term rentals (Ordinance 5316) Update 4/8/2022: The Maui County Council’s Planning and Sustainable Land Use Committee recently advanced legislation that would essentially codify the moratorium, and function to cap the number of visitor accommodations at existing levels (Resolution 22-70)Any interested parties should investigate current legislation and proposals at the time of your purchase, as well as the applicable county zoning ordinances that apply to the property that is of interest. 6. With the 2-Year Moratorium on Transient Accommodations in Ordinance 5316 how does that affect buying a condominium at a property where rentals are permitted but the unit isn't currently rented? This is something the Realtor's Association of Maui's Government Affairs department has been asked, and they responded that "this legislation should not impact any units that are allowed to conduct transient accommodations, even if those units aren’t actually conducting transient accommodations now. This specific point was discussed at the PSLU Committee’s March 23, 2022 meeting, and the original bill was amended to ensure that this right would be preserved, even if vacation rentals aren’t being conducted." For details on these changes, and a clearer understanding of the legislative intent on this matter, they point us to the meeting minutes from March 23rd beginning around page 34. 7. The Resolution also changes Section 19.32.040 of the Maui County Code to say that “transient vacation rentals are not permitted in planned developments.” Does this mean that transient vacation rentals will become unlawful in planned developments? Again turning to our Government Affairs Department: "According to Section 20 of the proposed legislation, these changes will only apply “to new transient accommodation applications that have not received final discretionary approval prior to January 7, 2022.” Therefore, existing planned developments that currently allow transient accommodations will continue to be allowed to conduct transient accommodations. Notwithstanding, TVR use will likely be considered a “lawful non-conforming use,” which means it is allowed but it may potentially be susceptible to elimination through legislation down the line." 8. Can I manage a vacation rental or long-term rental property myself? Can a relative or an employee manage the property for me? An owner can manage their vacation rental or long-term themselves, but they must be on island to do so. If the owner are not on island, they do need to provide their renters with a Local Contact and/or managing agent, who resides on island. Per Hawaii Landlord Tenant Code, Chapter 521, "An absentee landlord shall designate an agent to act on the landlord's behalf. The agent must reside on the same island as the rental unit." Per the DCCA, the designated on-island agent must be licensed if engaging in any activity for which a real estate license is required or manages property for more than one owner. 9. Is a landlord obligated to collect General Excise Tax (GET) and Transient Accommodations Tax (TAT)?Yes. The landlord must collect and pay GET and TAT per the Revised Statute 237. MCTAT is also collected (Maui County Transient Accommodations Tax) GET=4.5 (4 Hawaii State GET and .5 Maui County GET)TAT=13.25 (10.25 Hawaii State TAT and 3 Maui County TAT) These tax rates are subject to change. 10. When advertising a vacation rental online, are there any requirements? Yes...enter Act 204 in 2016 and requirements relating to providing the registration, tax ID and provide the Local Contact information. In addition to helping to ensure owners of transient vacation rental properties collect and pay the appropriate taxes, it also helps consumers investigate whether an online rental advertisement is real or fraudulent and provides a contact in case of an emergency at the property. Per the website for the Governor of the State of Hawaii, Act 204: "authorizes DOTAX to enforce civil penalties for operators and plan managers who fail to display the certificate of registration and registration ID numbers for transient accommodations and resort time share vacation plans. Authorizes DOTAX to issue citations for failure to provide the registration identification number or link to the number and the contact information of the local contact in an advertisement for a transient accommodation or resort time share vacation plan." 11. Does operating a TVR affect my property tax rate? Does owning a condominium where TVR's occur impact my tax classification? Yes. Per Maui County's Website on the date of this post, the county classifies real property tax for properties as follows: Time Share – real property that is subject to a time share plan as defined in section 514E-1, Hawaii Revised Statutes. Non-owner-occupied - real property improved with a dwelling that would not be classified as “owner-occupied,” “hotel and resort,” “time share,” “TVR-STRH,” “commercial,” “industrial,” “commercialized residential,” or “long-term rental." Commercialized Residential – real property that serves as the owner’s principal residence and has been granted a bed and breakfast home permit, a short-term rental home permit, or operates as a transient vacation rental, and cannot qualify for a home exemption. TVR-STRH – lodging or dwelling units occupied by transient tenants for periods of less than six consecutive months, including real property that does not serve as the owner’s principal residence and has been granted a short-term rental home permit or a conditional permit allowing transient vacation rental use without regard to its highest and best use and cannot qualify for a home exemption. Apartment – multi-dwelling-unit improvements containing five or more dwellings that would not be classified ““TVR-STRH.” Commercial Industrial Agricultural Conservation Hotel and Resort – properties occupied by transient tenants for period of less than six consecutive months, have eight or more lodging or dwelling units and employ more than twenty full time persons. Owner-occupied – real property owned and occupied as a principal home and for which a home exemption was filed and granted. The exemption is $200,000 as of the date of this post. Long-term rental – dwelling units occupied by long-term tenants for periods of twelve consecutive months or more to the same tenant and have been granted a long-term rental exemption. As of the date of this post, the exemption up to $200,000 on a parcel that is occupied as a long-term rental for twelve (12) consecutive months or longer to the same tenant. The website notes: "Property is classified based upon its highest and best use. Properties receiving home exemptions, long-term rental exemptions, permitted bed and breakfasts and permitted transient vacation rentals are exceptions." 12. What about using my property as a Long Term Rental? In an effort to bolster housing for local residents, the county passed Bill 129 which creates an additional tax advantage to someone choosing to rent their property on a long-term basis. This bill essentially creates a "long-term rental" tax classification and exemption. On January 1, 2022, lodging or dwelling units occupied by long-term tenants for periods of 12 consecutive months or more to the same tenant may be granted a long-term rental exemption. Six-month and month-to-month leases do not qualify. Properties without a home exemption will be eligible for a $200,000 long-term rental exemption. Those that have a home exemption and qualify for a long-term rental exemption will be eligible for an additional $100,000 exemption and will be classified as Owner-Occupied. To Apply, an owner must complete the Long Term Rental Exemption Form and a copy of the valid signed lease agreement by visiting www.mauipropertytax.com. The deadline for filing is at the end of each calendar year. A long-term rental is subject to GET (General Excise Tax) but is not subject to TAT (Transient Accommodations Taxes) 13. Any other comments? When purchasing real estate, it is always advised to consult with the appropriate legal and tax professionals. If considering a property that would be used as a TVR and not living on island, it is recommended to speak with and interview licensed professional management companies. There are sometimes on-site rental management offices, as well as independent real estate companies that specialize in the management of transient vacation rentals. If you are considering purchasing a property here on Maui to use as a Transient Vacation Rental (TVR), you should be sure to check with the Planning Department, as well as on the current state and county zoning laws, rules and regulations, and tax laws, as well as the Residential Landlord-Tenant Code. Per the Maui County website, there are proposed legislative bills that may change the permitting process, requirements and areas. Find more information on these resource sites: HELPFUL RESOURCES:Information in this post is taken from the Maui County website and the Maui County Municipal Code website. Landlord Tenant Code and Short Term Rentals/Taxation are addressed in chapters 237, 467, and 521 of the Hawaii Revised Statutes Maui County Codes: Chapter 19 Zoning Ordinances and Permitted Uses Maui Real Property Tax Assessments: search properties Maui County: Real Property Division Act 204 Short Term Rental Permit Information Minatoya Opinion Brochure Renting Residential, April 2016 Brochure Transient Accommodations April, 2016 For Consumers booking a vacation rental: "Per Maui County Website, there are more than 16,000 units (i.e., apartments, condos, houses) that are legally eligible to operate as short-term (less than six months) rentals without requiring a Bed & Breakfast Permit or Conditional Permit. These units are generally located in districts zoned for hotel use, but some are also located in apartment districts, or are covered by other pre-existing situations. The operation of short-term rentals in these zoning districts is consistent with current County of Maui zoning ordinances, Community Plans, General Plan, and State law. All short-term rentals are also required to pay State of Hawaii General Excise Tax (GET) and Transient Accommodation Tax (TAT). It is recommended that you inquire with the owner as to whether they are operating in compliance with all current laws." Lists of Permitted B&B's, STRH's, TVR's can be found on the county website using the link above. Disclaimer: Information is taken from the above listed resources on the date of this post, May 15, 2017 and updated in 2018, June 13, 2022, and May 6, 2024. While every effort has been made to ensure the accuracy of this article, it is not intended to provide legal, zoning & property use, or tax advice as individual situations will differ and should be discussed with your property management company, tax professional and/or attorney. Zoning and land use questions should be directed to the Maui County Department of Planning. Updates and amendments may be made to the county and state laws and rules and regulations cited above, so all information contained herein should be not be relied upon without independent verification and should be researched at the time of purchase.