Maui Short Term Rental Options

[Blake Lawrence]

I run a few different businesses and my one property in Maui under a LLC has been put on the back burner due to the others having a large financial commitment. I just re-financed the condo so as to buy the my 50/50 partners half. The LLC and the loan will only be controlled by me in the coming week or so. Luckily this means I skip the May payment. Maui has forbidden STRs until May 1 and I am losing a lot of may reservations we speak (airbnb and vrbo).

I applied for the EIDL but not sure I did it right. Its an LLC but we don't take a salary. Is it possible to apply for PPP and just use the income from 2019 as the total salary? Are there any hawaii or maui specific programs out there? They do not have much a social media presence so its tough to find any info from them. Lastly, I've seen some people suggesting to get longer term tenants in there instead of vacationers. Any suggestions for sites? I know there are a few for traveling nurses but I've never had to look into it much further.

Any other tips or tricks for those in the same position would be greatly appreciated.

Thanks!

[Paul Sandhu]

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