More Maui STR threats

[Henry T.]

I've lost interest in Hawaii long ago,  but thought others may want to read this.

https://apnews.com/article/hawaii-maui-wildfires-vacation-re...

[Mark Waite]

Thanks for sharing Henry. I live full time on Maui and am a full time real estate broker so I'm very attuned to what is going on.

My recommendation for anyone is to educate yourself, whether its Hawaii or elsewhere, because if you are aware of how STRs are regulated in Hawaii, this is far easier said that done. Even the Attorney General has advised that passage would likely result on a lawsuit that would not be favorable to the state. The reason being that the State has allowed the four counties to regulate STRs, and why each county does it differently.

The argument behind this is very weak. The reason there is a housing shortage has nothing to do with STRs and everything to do with politics. I live on Maui, and every affordable housing project gets analyzed with a microscope. The time and regulatory oversight kills developers and why very few want to build affordable housing. Nearly 1/3 of every dollar spent for development goes to regulatory costs. Insane in a market where construction costs are already high

It is unfortunate to see articles such as the AP article because they simply show one side of the story, not the full story. Its articles such as these that are having a impact on an economy that is 80% driven by tourism. You should also be aware that the hotel industry carries a lot of clout. Don't believe me? Then ask why the property tax rates for hotels on Maui hasn't increased in over two years, yet they continue to raise it for STR's as well as non-owner occupied residential properties.

Please keep it all in perspective and do your homework. Not everything you read is completely factual.