Good news for Maui Long term rental landlords

[Colby Hanley]

Aloha BP Ohana,

It seems like nothing but bad news lately, so how about some good news. Maui County has passed new property tax relief for long-term rental landlords to encourage landlords to rent LTR vs STR. They are offering to start in this relief in 2022 it will give a $200,000 tax exemption to landlords that have tenants longer than 1 year in their property. This exemption before was only available to homeowners that occupied the property and did not rent it out. Even more great news, they are also going to up the homeowner exemption to $300,000 for owners that have an ADU on their property that is rented for greater than 1 year. Please see the link for more information.

 https://www.mauicounty.gov/civ...

[Mike Neubauer]

Thanks Colby!  This is good stuff, I will happily fill that out!  Mahalo!