Status of Hawaii HB 2078

As a brief follow up to our previous posts on Hawaii HB 2078, through a number of versions of that proposed measure, HB 2078 HD2 SD2 CD1 passed Final Reading on 05/01/2012. To summarize it, the measure will:

Require the owner of a transient accommodation to designate a local contact residing on the same island as where the transient accommodation is located. Furthermore, it requires that all advertisements and solicitations for transient accommodations on any website display the registration identification numbers.

This measure is to become effective on July 1 and is set to be repealed on December 31, 2015. Through strong opposition, the original piece of legislation morphed into the version that was eventually passed. Requiring (forcing) off-island owners to use a property manager was THE controversial aspect and it was successfully opposed. Of course, that is not to say that similar legislation could be proposed in future sessions, so it is critical that potential buyers perform due diligence and be represented by a professional who is well-versed in all matters that could affect his/her client’s real estate objectives.

Thinking about investing in a Maui vacation rental? Contact us for more information on how feasible it would be depending your individual circumstances.

Editor’s note: The following is being posted with expressed consent from its author and was originally posted on the internal blog for the Realtor’s Association of Maui. It is in response to our previous post on HB 2078 SD2.

The last REALTORS Association of Maui Blog inadvertently upset a lot people and this is meant to set the record straight. In the last edition of the RAM Blog – issued last Thursday — in almost an afterthought I included the following statement: (more…)

Editor’s Note: I received the following letter from Tom Vu, a Canadian who recently invested on a Maui condominium. These are his views from the perspective of a non-Hawaii resident who owns/operates a vacation rental condo and how the proposed legislation of HB 2078 would affect him.

I’m writing to you from the perspective of a Canadian who had just bought an investment property in Maui.

My wife and I are in our late forties.  We have two children.  Our older son is in university while the younger one will be attending high school.  We aren’t old but are approaching retirement age.  As such we increasingly think about our retirement and what we have to do now to prepare for it. (more…)

Keawakapu Beach – Does Wailea Life Get Better

Yet another post that is completely unrelated to real estate. Although pretty pictures of the ocean or beachfront luxury estates are always ‘nice’ to see, it doesn’t truly reflect what Maui has to offer. I moved out here from New York City four years ago, sight unseen for me as I had never been to Hawaii. What prompted the move was news of the impending arrival of our first baby – neither of us had any family remaining in NYC and all her family lives on Maui, so that made the decision somewhat easy and straightforward. (more…)

From all over the world, many flock to Wailea not just for its world-class beaches, perfectly landscaped setting, or five star resorts – but rather, for the championship-grade golf courses. Boasting golf-ready weather year round and some of the most scenic golf courses in the Pacific, it is easy to see why it has become a haven for golf aficionados. With that said, it’s time we explored a bit more what Wailea golf is all about (more…)