Category: general
Owning property comes with its share of ongoing costs: maintenance, utilities, and, of course, property taxes. While I prefer to write about beautiful properties or great Maui outdoor activities, prospective property buyers should know about Maui property tax expenses and resources.
This post covers the various tax rates for homes and condominiums, tax assessments, potential tax exemption, and various county of Maui property tax resources. By the end, you’ll be a bona fide expert on Maui property tax. Let’s dig in!
Key Takeaways:
- Property Tax Rates: Maui’s property tax rates differ by property type and use, with additional tax tiers based on assessed value.
- Assessment and Appeals: Property values are assessed based on various factors. Owners can appeal assessments with supporting evidence.
- Exemptions and Relief: Maui offers tax exemptions for homeowners, seniors, veterans, and charitable organizations, each with specific eligibility requirements.
- Wildfire Impact: The county provides financial relief to those who lost their residence in the fire through property tax waivers.
- Payment and Resources: Taxes are due in August and February. Late payments incur penalties. Maui County provides several online resources, covering everything from frequently asked questions to online payments to specific tax records for individual properties.
Understanding 6 Maui Property Tax Rates for Homes and Condos
Maui County’s property tax rates vary significantly by property type, use, and value. This post focuses on the rates relevant to home and condo owners.
Maui County’s property tax rates vary significantly by property type, property use, and property value. To simplify things, this post focuses on the rates relevant to home and condo owners.
Owner-Occupied Tax Rates
The lowest tax rate on Maui is for owner-occupied homes and condominiums. The rate ranges from $1.80 to $3.25 per $1,000 assessed value.
The $1.80 rate is for houses or condos with an assessed value of $1,000,000 or below, and the $3.25 rate is for homes or condos with an assessed value of over $3,000,000. The rate for homes assessed from $1,000,001 to $3,000,000 is $2.00 per $1,000 of assessed value.
The owner-occupied tax rates aren’t just the lowest rates in Maui; they are lower than the property tax rates for most municipalities throughout the country.
| Assessed Value | Tax Rate (per $1,000 assessed value) |
|---|---|
| $1,000,000 or below | $1.80 |
| $1,000,001 to $3,000,000 | $2.00 |
| Over $3,000,000 | $3.25 |
Eligibility for owner-occupied tax rates depends on qualifying for the county homeowner tax exemption (more on that when we discuss tax exemptions below). The first component of obtaining the homeowner exemption is that the home or condo is your primary residence.
However, it is essential to note that you must also have filed Hawaii State Income Tax with a reported address in the county of Maui. This important distinction impacts people relocating to Maui with plans to make it their primary residence.
Non-Owner Occupied Tax Rates
If you own a home or condo that is not your primary residence, a long-term rental, a short-term rental, or eligible to be a short-term rental, it would qualify for the non-owner-occupied tax rate.
The tax rates for non-owner occupied homes and condos are tiered like owner-occupied properties. However, the tiers are different.
For the 2024-2025 fiscal year, non-owner occupied properties under $1,000,000 have a tax rate of $5.87 per $1,000 of assessed value. The rate for non-owner occupied properties between $1,000,000 and $4,500,000 is $8.50 per $1,000 of assessed value. The tax rate for non-owner occupied homes or condos assessed above $4,500,000 is $14 per 1,000 of value.
| Assessed Value | Tax Rate (per $1,000 assessed value) |
|---|---|
| Under $1,000,000 | $5.87 |
| $1,000,000 to $4,500,000 | $8.50 |
| Over $4,500,000 | $14.00 |
Short-Term Rental
If you own a condo or a home used as a short-term rental, you would fall into one of the short-term rental property tax tiers. It is important to note that if you own a condo in a development that allows for short-term rentals, you don’t rent it and aren’t eligible to claim a homeowner’s exemption; you will be taxed at one of the short-term rental rates.
The county of Maui taxes you at the highest and best use for your property unless you can claim an exemption. Short-term rentals have the highest tax rates of any tax classification on Maui.
| Assessed Value | Tax Rate (per $1,000 assessed value) |
|---|---|
| Up to $1,000,000 | $12.50 |
| $1,000,001 to $3,000,000 | $13.50 |
| Over $3,000,000 | $15.00 |
Condos with an assessed value of up to $1,000,000 are taxed at $12.50 per $1,000 of assessed value. Condos assessed between $1,000,001 and $3,000,000 have a tax rate of $13.50 per $1,000 of assessed value. The tax rate over $3,000,000 is $15 per $1,000 assessed value.
Long-Term Rental Tax Rates
Maui lacks a sufficient number of long-term rentals to meet local demands. The county offers favorable tax rates to incent long-term rentals. You must be granted a long-term rental exemption to be eligible for long-term rental tax rates (more on long-term rental exemptions below).
Long-term rental rates are tiered.
| Assessed Value | Tax Rate (per $1,000 assessed value) |
|---|---|
| $1,000,000 or below | $3.00 |
| $1,000,001 to $3,000,000 | $5.00 |
| Over $3,000,000 | $8.00 |
Tier 1 is $1,000,000 or below with a rate of $3.00 per $1,000 of assessed value. Tier 2 is between $1,000,001 to $3,000,000 with a rate of $5.00 per $1,000 of assessed value.
Tier 3 is for properties assessed for more than $3,000,000. The rate for tier 3 is $8.00 per $1,000 of assessed value.
Commercialized Residential Tax Rates
Very few Maui property owners fall into this tax classification. It is for owners who use their home as their primary residence but also have a bed and breakfast permit, transient vacation rental permit, or use the property as a short-term rental home.
Before this fiscal year, homes in this category only fell under a single tax tier. This year, it has been separated into three tiers.
| Assessed Value | Tax Rate (per $1,000 assessed value) |
|---|---|
| $1,000,000 or below | $4.00 |
| $1,000,001 to $3,000,000 | $5.00 |
| Over $3,000,000 | $8.00 |
Homes in tier 1 have a value of $1,000,000 or below and a tax rate of $4.00 per $1,000 of assessed value.
Tier 2 homes have an assessed value between $1,000,001 and $3,000,000 and a rate of $5.00 per $1,000 of assessed value. Tier 3 is for homes with an assessed value of $3,000,001 and above and a rate of $8.00 per $1,000 of assessed value.
Agricultural Property Tax Rates
Most homes on Maui with acreage are located on lots with agricultural zoning. Owning ag-zoned land in and of itself does not mean you will qualify for agricultural tax rates. You need to be engaged in legitimate agriculture.
Fruit trees for personal use or a solitary horse grazing in the backyard isn’t sufficient. The agricultural use assessment FAQ goes into more detail on eligibility criteria.
The agricultural tax rate is not where farmers and ranchers typically generate savings. The rate for this fiscal year is $5.74 per $1,000 of assessed value. The savings come with how the county assesses ag land. Land used for agriculture is assessed at a much lower value than comparable land not used for ag.
It is also worth noting that the whole property won’t be taxed at agricultural tax rates if there is a residential component to a farm. It is just the areas of the property where agricultural activities are occurring.
For example, if you own a five-acre farm in Haiku and qualify for a homeowner exemption, the county would tax the home and an acre of the surrounding land at the owner-occupied rate and the remaining four acres you farm at an agricultural rate.
How Maui County Assesses Property Values
Ever wonder how Maui County determines your property’s value? It’s not just a random number pulled out of thin air. The Real Property Assessment Division takes a close look at a variety of factors to come up with your assessment. Assessed values are recalculated annually, and new assessed values are submitted to property owners every March.
Factors That Influence Property Assessments
The valuation process for your property includes looking at its dimensions, spot on the map, zoning details, and any enhancements you’ve added. Recent local home sales are also reviewed to determine a fair market price.
In-person inspections are not common due to the number of county appraisers and structures that need to be appraised. In-person inspections may occur when a home is initially built or if a property is renovated on a larger scale. Otherwise, the county uses a computer-assisted mass appraisal system.
Appealing Your Property Assessment
What if you disagree with your Maui property tax assessment? There is a limited window to submit an appeal to contest your assessed value. This window runs from March 15th, when the county notifies you of your new assessed value, until April 9th.
To file your appeal, you must submit it with a $75 fee. That fee is refundable if the five-person board of appeals finds in favor of the taxpayer.
But here’s the thing – you can’t just say, “I think my assessment is too high.” You’ll need to provide evidence to support your claim, like a recent appraisal or comparable sales data. Most appeals are unsuccessful because they need more substantive proof to support their claims.
It is important to note that your property tax bills still need to be paid even if you appeal your assessment. Any non-payment will result in interest payments and penalties.
Property Tax Exemptions and Relief Programs in Maui County: 4 Key Programs
Property taxes can be a burden, especially if you’re on a fixed income or dealing with unexpected expenses. However, Maui County offers several exemptions and relief programs that could help lower tax bills.
Homeowner Exemption
If you own and live in your home or condo in Maui, you may be eligible for the homeowner exemption. This exemption can reduce the taxable value of your property by $200,000, which can make a nice difference in your tax bill. As mentioned above, being eligible for the exemption means you will qualify for the owner-occupied rate.
You must apply with the Real Property Assessment Division by December 31st of the preceding tax year to qualify. Again, you must have filed State of Hawaii income taxes from a Maui County address the year before the exemption’s effective date.
Partial returns or out-of-state resident returns do not qualify. Late on your property taxes will also make you ineligible for the homeowner exemption.
Long-Term Rental Exemption
If you have long-term tenants with a one-year or longer lease, you may be eligible to file for a Long-Term Rental Exemption. This exemption deducts $200,000 from your assessed value.
If you have a long-term rental on a property that already receives a homeowner exemption, the long-term rental exemption is $100,000 from the assessed value. That means a homeowner with a long-term rental on the same property can get a reduction of $300,000 total from their assessed value.
Disability Exemption
If you’re dealing with a disabling condition that keeps you out of work, consider applying for the disability exemption. The disability exemption can take $25,000 off your assessed value.
The county of Maui also offers an exemption for severely disabled veterans. This exemption can result in a minimum tax of $150.
Circuit Breaker Exemption
If you are already receiving a homeowner exemption, but your Maui property tax bill still exceeds 2% of your income, you may be eligible to file for a Circuit Breaker Exemption. Forms and applications are available through the county between August 1st and December 31st.
Impact of the Maui Wildfire Disaster on Property Taxes
The recent wildfire disaster in Maui has left our community reeling, with countless homes and businesses either lost or heavily damaged. The County of Maui helped reduce the financial burden by waiving property taxes for homes, condos, and commercial properties destroyed by fires in Lahaina or Upcountry Maui.
Rebuilding and Property Tax Implications
As our community begins the long process of rebuilding after the wildfire disaster, property owners will need to navigate the property tax implications of reconstruction.
The Real Property Assessment Division will work with affected property owners to ensure that their assessments accurately reflect the value of their properties and any improvements made during the rebuilding process. It’s a complicated process that is necessary to ensure that property owners are not overburdened during an already difficult time.
Paying Your Maui Property Taxes
Paying your property taxes may not be the most exciting task on your to-do list, but it’s important. Fortunately, Maui County offers several options to make the process as painless as possible.
Payment Methods
You can pay your property taxes online, by mail, or at the Real Property Tax Division office. You can use the county’s online payment portal if you prefer the convenience of online payments.
But if you’d rather pay by mail or in person, that’s an option, too. Make sure you allow enough time for your payment to be processed before the due date.
Due Dates
Regarding due dates, it’s important to know when your property taxes are due. In Maui County, property taxes are due in two installments yearly – the first on August 20th and the second on February 20th.
If those dates fall on a weekend or holiday, the due date is extended to the next business day. But don’t wait until the last minute. Late payments can lead to fines, interest payments, and loss of eligibility for county exemptions.
Penalties for Late Payments
Speaking of late fees, if you don’t pay your property taxes by the due date, you’ll be hit with a 10% penalty on the delinquent amount. And that’s not all – interest will also accrue on the unpaid balance at 1% per month.
Accessing Maui Property Tax Information and Resources
Whether through county websites or by speaking directly with Real Property Tax division employees, Maui County offers several resources to help you stay informed and on top of your tax obligations.
Contacting the Real Property Tax Division
Do you have questions about your property taxes? The folks over at the Real Property Tax Division are ready to assist. Give them a call at (808) 270-7297 or shoot an email to [email protected].
Their office is located at 70 E. Kaahumanu Avenue, Suite A-16, Kahului, HI 96732, is open Monday through Friday from 8:00 AM to 4:00 PM.
5 Simple Steps: How To Access Maui Property Tax Records and Maps
Accessing property assessment records and maps is essential for anyone interested in buying or selling real estate in Maui. These records provide valuable information about assessed values, ownership history, and geographic details, helping you make informed decisions. Here’s a step-by-step guide on how to access these records:
Step 1: Visit the Maui County Real Property Tax Assessment Website
Start by navigating to the Maui County Real Property Assessment Division’s official website. This website is the primary resource for accessing property assessment records and maps.
Step 2: Search for Property Records
Once on the website, look for the search records link at the top of the page. From the search records page, you can search for property records using three criteria:
- Parcel Number: If you know the parcel number, enter it directly into the search tool.
- Owner’s Name: You can search by the current property owner’s name.
- Address: Enter the property address to find the corresponding records.
Step 3: Accessing Assessment Records
After you enter your search criteria, the system will display a list of properties that match your input. Click on the desired property to view detailed assessment records, including:
- Property Value: Current assessed value of the property.
- Land and Building Details: Information about the land size, building specifications, and improvements.
- Ownership History: A record of past and present owners.
It is important to note that the building records on the county tax site do not always reflect permitted improvements for a property. Unpermitted improvements can show up on county tax records.
Step 4: Viewing Property Maps
Maui County’s website also offers maps of the Geographic Information System (GIS). To access these maps:
- Look for a map link under the parcel information on the property assessment page.
- Use the interactive map tool to view approximate property boundaries, zoning information, state land use districts, flood zones, satellite imagery, and more.
- You can zoom in and out and switch between map layers for more specific information.
Step 5: Requesting Additional Information
You can contact the Maui County Real Property Assessment Division directly if you need more detailed or specific information unavailable online. They can provide additional records, answer questions, and offer further assistance. Maui County Real Property Assessment Division.
Frequently Asked Questions
If you have a question about property taxes, chances are you’re not the only one. The Real Property Tax Division website includes a frequently asked questions (FAQ) section.
The FAQ section contains everything from property tax rates to appealing your bill. If you have questions about paying fees or seeking an exemption, this is where you should start.
Can’t find what you need in the FAQ section? Contacting the Real Property Tax Division might be your next best step. They’re available to clarify anything confusing about property taxes so that you’re equipped with all the necessary information for making wise choices regarding your property.
Maui Property Tax: Final Thoughts
Remember, staying on top of your property tax bill is crucial, but plenty of exemptions and relief programs are available if you qualify. And if you ever have questions or concerns, don’t hesitate to reach out to the friendly folks at the Maui County Real Property Tax Division.
Maui property tax might not be the most thrilling topic, but understanding how it works is key to being a savvy property owner on the Valley Isle. While we typically defer to the tax department on all tax-related questions, feel free to contact the Maui Real Estate Team with other real estate-related questions.
Frequently Asked Questions About Maui Property Taxes
What are the property tax rates for owner-occupied homes in Maui?
The rates range from $1.80 to $3.25 per $1,000 assessed value, depending on the property’s value.
How often are property values reassessed in Maui?
Property values are recalculated annually, with new assessed values submitted to property owners every March.
What is the deadline for appealing a property tax assessment in Maui?
The appeal window runs from March 15th to April 9th.
What is the homeowner exemption in Maui?
The homeowner exemption can reduce the taxable value of your property by $200,000 if you own and live in your home or condo in Maui.
When are property taxes due in Maui County?
Property taxes are due in two installments yearly – the first on August 20th and the second on February 20th.
How can I access Maui property tax records?
You can access property tax records through the Maui County Real Property Tax Assessment Division’s official website by searching with the parcel number, owner’s name, or property address.
What happens if I pay my property taxes late in Maui?
Late payments incur a 10% penalty on the delinquent amount, plus interest accruing at 1% per month on the unpaid balance.
The County of Maui has announced new property tax rates for the 2024/2025 fiscal year. Rates went up in a number of different categories to address both the property taxes lost and the significant additional expenses incurred due to the 2023 fires. The bulk of the increases were focused on second homes and vacation rental condos. The only homeowner rate that increased was for homes that are assessed for more than $3,000,000.
Maui 2024/2025 Property Tax Rates
Here are the updated rates for Maui County in 2024/2025. If there is any change in rates, last years rates are noted for reference. All rates shown below are per $1,000 of assessed value.
Owner Occupied
- Tier 1: up to $1,000,000 Formerly $1.90 now $1.80
- Tier 2: $1,000,001 to $3,000,000 Unchanged $2.00
- Tier 3: more than $3,000,000 Formerly $2.75 now $3.25
Non Owner Occupied
- Tier 1: up to $1,000,000 formerly $5.85 now $5.87
- Tier 2: $1,000,001 to $4,500,000 formerly $8.00 now $8.50
- Tier 3: more than $4,500,000 formerly $12.50 now $14.00
Apartment
- Unchanged $3.50
Hotel and Resort
- Unchanged $11.75
Timeshare
- Unchanged $14.60
Short-Term Rental
- Tier 1: up to $1,000,000 formerly $11.85 now $12.50
- Tier 2: $1,000,001 to $3,000,000 formerly $11.85 now $13.50
- Tier 3: more than $3,000,000 formerly $11.85 now $15.00
Long-Term Rental
- Tier 1: up to $1,000,000 Unchanged $3.00
- Tier 2: $1,000,001 to $3,000,000 Unchanged $5.00
- Tier 3: more than $3,000,000 Unchanged $8.00
Agricultural
- Unchanged $5.74
Conservation
- Unchanged $6.43
Commercial
- Unchanged $6.05
Industrial
- Unchanged $7.05
Commercial Residential
Prior to this year, there were no tiers for commercial residential. There are now three price tiers. The tiers are the same as other property tax classifications that use tiers.
- Tier 1: up to $1,000,000 formerly $4.50 now $4.00
- Tier 2: $1,000,001 to $3,000,000 formerly $4.50 now $5.00
- Tier 3: more than $3,000,000 formerly $4.50 now $8.00
Check out the county’s description of different property type classifications if there is any confusion on what category your current property or future property might fit into. If you are relocating to the island and intend to use the home as your primary residence, please pay attention to eligibility for the homeowner tax classification.
Maui Homeowner and Long Term Rental Exemptions
If you have a primary residence on Maui or own a property that you rent long term, you may be eligible to reduce your tax bill. Under the homeowner (primary residence) exemption, residents are eligible for a $200,000 reduction on their assessed value. The long term rental exemption also provides a $200,000 reduction on the assessed value if your tenant has a year lease or longer. If you have a long term rental on the same property as your primary residence, you may be eligible for a $300,000 total reduction on your assessed value.
The deadline to file for the homeowner or long term rental exemptions for this coming fiscal year passed. If you file by the end of 2024, you would be eligible for the exemption and tax rate for the 2025/2026 fiscal year. Here is the link to the Long Term Rental Exemption and the Home Owner Exemption forms. As noted above, the rules for eligibility for the homeowner exemption can be confusing. It is worth reading the county Exemption FAQ to better understand eligibility requirements.
Maui Property Tax Notable Dates
The new rates go into effect at the start of the new fiscal year on July 1st, 2024. Property taxes are due in two separate installments. The first installment is due in August 2024 with the second installment in February 2024. Owners should have received notification of their new assessed values in March of 2024. Anecdotally, the county increased assessed values for a significant number of properties around the island. In some cases, the increase in assessments was substantial.
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4 Critical Things to Know When Searching Online for Maui Real Estate
According to the National Association or Realtors, the first step of the home buying process for forty-seven percent of home buyers was to search online. With Maui’s significant number of off island buyers, that number is substantially higher locally. Quirks of our MLS, a limited number of Post Offices on Maui and the relatively unique types of ownership in Hawaii can make the information displayed in online Maui real estate listings confusing or incomplete. Here are 4 things you should look out for when searching online for Maui Real Estate.
Table of Contents
Figuring out the Exact Location of the Property Isn’t Always Easy
Our website and almost all real estate websites use what is called an Internet Data Exchange or IDX to display MLS listings. We use an underlying company called an IDX provider to package property data and photos into the listings you see displayed on our site. The IDX provider doesn’t just service Maui, they provide a similar service to real estate companies throughout the country. IDX providers use Zip codes as the primary means to identify the location of a listing. That works great in most areas where a town or city may have one or more zipcodes. It doesn’t work as well on Maui where zip codes can span across a large geographic area and cover multiple communities.
It’s easy to see how this can cause some confusion. This is especially the case in West Maui after the Lahaina fire. A significant portion of Lahaina Town’s residences burned. Those that were listed, but did not burn were subsequently withdrawn from the market. That said, a number of properties with a Lahaina address can be found listed for sale currently. The reason is that the Lahaina Zip code expands well beyond the fire area. West Maui runs from the small village of Olowalu down South all the way to Kapalua up to the North. All of this area falls under the Lahaina zipcode.
This challenge isn’t unique just to our site or other Maui Realtor sties. It is also true for bigger national real estate portals like Zillow and Redfin. It is evident with the screen captures that show a Lahaina address for a Kapalua Property on Zillow. You need to scroll deep within Zillow’s listing information or look at the associated map to find the Kapalua Location.
Again, West Maui isn’t the only part of the island with a Zip code that spans a big area. In South Maui, Makena and Wailea resort fall under the Kihei zipcode. Looking Upcountry, Makawao and Pukalani also share the same zipcode. All of East Maui including Hana, Nahiku, Kipahulu and Kaupo share a single zipcode. The coastal community of Ma’alaea and rural community of Kahakuloa fall under the Wailuku zipcode.
To help alleviate confusion in your search, look for the district on an IDX site or the specific location information within a portal site like Zillow. When using our site, you should note that we have community level searches available along the footer of our page. Of course, you are always welcome to send us a message if you remain unsure of a property’s exact location or need assistance honing in on a specific community.
How Much Land Area Does That Listing Really Have?
Land area is something else to keep an eye on when searching online for Maui real estate listings. There are a number of Maui listings where the area of land included with a property is less than what shows on the online listing. This stems from the growing frequency of Condominium Property Regimes (CPRs) also known as residential condominium listings.
A CPR is a type of ownership where portions of a single parcel of land may be sold off as separate units. The units have their own deed and tax map key. Each unit of a CPR can be mortgaged. In essence, this type of ownership applies the same principles of how an apartment building is turned into condos, and applies them to any piece of land that can have more than one structure. Since Residential Condo ownership isn’t common nationally, IDX providers and Real Estate Portals show the land area of the whole parcel of land and not the individual CPR unit.
For example, let’s take a two acre lot with a house and a cottage that goes through the CPR process. Unit A consists of the house and 1.5 acres of land. Unit B consists of the cottage and .5 acres of land. The underlying area of land with each unit is frequently called the limited common element. If unit B is listed for sale, most real estate sites will show the listing as having a full 2 acres rather than .5 acres of land. It doesn’t become readily apparent that it is really .5 acres until one reads about it in the detailed description of the listing.
Keep your eyes peeled for words like CPR, residential condo or limited common element in the listing description for lots and homes. That’s a pretty good clue that the land area is smaller than what is listed. A good listing description for a CPR property will specifically mention the limited common element or area of land associated with the listing. When in doubt, contact us and we would be happy to help you determine if the property is a CPR and how much land is included.
Listings Don’t Always Show All Monthly and Quarterly Fees
It goes without saying that determining the cost of ownership plays a big part in the typical search for real estate. That includes both the purchase price and any monthly fees associated with a property. There are a few types of properties on island where all monthly fees aren’t clearly spelled out in IDX and other online listings.
Leasehold condos are at the top of the list of properties that don’t show all monthly fees in their online listings. The monthly condo association fee is clearly listed, but the monthly and quarterly lease payments seldom make it on IDX sites. IDX providers use standardized display fields so they can work across markets across the country. With leasehold ownership less common, that field is omitted from most idx providers.
The monthly lease payment does show on Zillow, but good luck finding it and figuring out what it means. Deep in the bowels of the listing detail is a field called total actual rent. The way it is presented looks more like income than a fee.
Two other expenses that don’t always make it into an IDX feed are homeowner’s association fees and resort fees. There are a couple of fields in the MLS that cover homeowner association fees for single family homes. Depending on what field the listing agent uses, it may or may not show up on the IDX search results. Some of the resort areas also have quarterly resort fees. Those help to maintain landscaping in the resort as a whole. Since it isn’t a required field to list a property, some agents omit those fees when listing resort properties.
When inquiring about a condo, lot or a home located within a subdivision, it is worth asking if all fees are included on the MLS listing. Contact us if you have any questions.
Not All Condos Allow Vacation Rentals
A significant portion of people searching online for Maui condos for sale are looking for potential vacation rentals. Be aware that not all condos on island allow vacation rentals. Whether a condo allows vacation rentals isn’t always clear when looking at Maui listings online. There are no specific fields for vacation rentals on most IDX sites, and Zillow does not display whether a condo development allows vacations rentals.
If confused about whether a Maui condo that you are looking at can be vacation rented, here are a few things to look for. Focus on the remarks. Listing agents may mention the ability to vacation rent in the listing remarks. It is an attribute that agents will try to highlight.
Amenities and maintenance fee may also offer another clue. If there is no pool and the maintenance fees are comparatively lower, chances are that the development does not allow short term rentals. Most but not all condos that have more amenities and higher maintenance fees allow vacation rentals. There are some high end condos with numerous amenities that prohibit vacation rentals.
Last but not least, look at price. With the exception of a few leasehold condos, vacation rentals currently start over $600,000. Most condos below this price point, prohibit rentals. Again, It is also worth noting that not all high end condos allow vacation rentals.
When in doubt, ask us! We are happy to let you know what you can and can’t rent short term. Our Kihei, Wailea, Ka’anapali and Kapalua Condo listing pages also list which developments allow vacation rentals and which prohibit vacation rentals.
Last Thoughts
The points above should improve your experience when searching online for Maui Real Estate. MauiRealEstate.com offers the option to review inventory at a more granular level. We have listing pages at the community, condo development and neighborhood level. As mentioned above, we also welcome any chance to be of assistance and answer questions as they arise.
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It was exactly one month ago today that fires swept through Lahaina killing 97 people, leaving 22 people missing and destroying over 2,000 homes and structures. Also destroyed were numerous priceless historical sites and artifacts from the former capital of the Kingdom of Hawaii. At the same time as the Lahaina fire, two separate fires burned in Upcountry Maui destroying 19 homes in Olinda and Kula. We feel fortunate that none of our agents lost homes in the fire. That said, we all have friends, clients or relatives who lost homes or were displaced by the fires.
To say it’s been a challenging month would be an understatement. Grief over the loss of people and homes lingers over the island. Maui is still at the very initial phases of what will be a multi-year recovery process.
If there has been one positive throughout the month, it’s been the response of the local community. Members of the community stepped up for their neighbors in a big way. Island residents led the charge in providing food, shelter, comfort and more to their neighbors who lost everything over in Lahaina. Upcountry, residents joined firefighters in putting out hotspots. As the fires came under control energy shifted to helping to clear storm debris.
We would be remiss if we did not give special mention to the firefighters and other first responders. Four separate fires on the island stretched the fire department beyond the point of exhaustion. The island owes them a debt of gratitude for their valiant efforts to protect life and property.
It’s been far from business as usual when it comes to real estate on Maui. While most existing transactions moved forward, there were a higher than usual number of cancellations. Several active listings were pulled from the market. Some due to the general circumstances and other homes and condos were quickly converted to short term shelter or longer-term rentals for people displaced by the fire.
There was a somewhat unofficial pause in marketing activities observed by most of the real estate community through the end of the month of August. Some of that was agents taking time to grieve, some of that was due to agents immersing themselves in volunteerism and most of all it was a question of appropriateness. Stylized photos of beautiful homes and the Maui lifestyle are a stark contrast to the immediate aftermath of the fire.
I alluded to this in a paragraph above, but there is also a recognition that the fires exacerbated what was already an acute housing shortage on the island. A lot of the fire victims are currently being housed in hotels and Airbnbs. Those are only short-term refuges. Finding longer term residences for what will be a prolonged rebuild remains a monumental challenge. Many fire victims fear short term and long-term displacement from their homes.
We’ve been quiet on our blog and in our social media channels over the last month. For all the reasons above, it’s been a struggle to figure out when the time is right to get back to working and operating as a real estate brokerage in a “normal manner”. We feel our own pain and we recognize that of our colleagues, friends and neighbors. That said, we do have a fiduciary responsibility to our sellers and our buyers.
We recognize that we are moving forward in a Maui that has changed a lot over the last month. We understand that the sense of loss and grief on Maui remains raw. We know that housing shortage provokes its own set of frustrations and other emotions. With that in mind, we plan to choose our words and actions carefully in the hope that we can continue to be of service to our clients and the community. The Maui Real Estate Team invites your questions, comments and feedback.
Three months into the year and interest rates continue to fluctuate. In January it seemed like rates were heading downward steadily. February saw an increase in rates. The banking crisis earlier this month caused rates to adjust downward again. Last year, there was a lot of ink spilled and key strokes dedicated to predicting rates. Most predictions proved to be wrong. At this point, prognostication on rates seems like a fool’s errand. That said, I wanted to talk about one of the better bellwethers for mortgage rates, the ten year treasury bond.
In the financial world, a bellwether is an indicator of something bigger. For the bond market, the ten-year Treasury bond is the go-to indicator of how things are going. When investors are feeling good about the economy, they tend to buy more bonds, which drives down the yield (i.e., interest rate) on the ten-year Treasury bond. Conversely, when things are looking a bit shaky, investors tend to flock to the safety of Treasury bonds, which drives up the yield.
So, what does all of this have to do with mortgage rates? Well, the yield on the ten-year Treasury bond is a key indicator of where mortgage rates are headed. When the yield on the ten-year Treasury bond goes up, so do mortgage rates. When the yield goes down, mortgage rates tend to follow suit.
Think of it like a game of follow the leader, but with money. When the leader (the ten-year Treasury bond) goes up, the followers (mortgage rates) try to keep up. And when the leader goes down, the followers slow down too.
What Does This Mean for Buyers?
Consider this as more of how does this work vs a how to post. I’ve read in some places that following the ten year treasury closely may give buyers a sense of when to lock their mortgage rate. I have to say, I am a little skeptical about that. While the two are closely correlated, there may not be enough lag between the change in treasury bond yields and the change in mortgage rates. It’s a pretty busy world out there and unless you work in finance, you also may not have the time to closely monitor treasuries. This is where I would lean on a knowledgeable mortgage professional rather than tracking things yourself. Let your mortgage professional give you guidance on when to lock your rate.
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A quiet country road that wanders towards the ocean. Cooling trade winds. Swaying palm trees. Vibrant greens and the vivid blues of the ocean along Maui’s North shore. If this sounds like a place that you would like to call home, 300 Mehana Road offers two separate opportunities for those that want to build their dream home or cottage on Maui. The state recently approved plans to drill a well to serve the parcel, making these two CPR properties a great places to create your own personal paradise.
Location
300 Mehana Road is located in the community of Haiku on Maui’s North Shore. This quiet town is located on the windward side of the island. Mehana Road is a small private road on the ocean side of Hana Highway. It is about 10 minutes away from a grocery store, restaurants, food trucks, the post office and fitness centers at the Haiku Cannery. It is about 15 minutes from Paia town. Ho’okipa Beach Park is ten minutes away. The airport is roughly half an hour away.
300 Mehana Road Unit A
Unit A consists of 3.88 acres of gently sloped agriculturally zoned land. This unit is designated for the construction of the main house on the property. There is plenty of space for your building site with lots of room left over for gardens or orchards or you can expand upon the existing grove of Coconuts. The property is just one lot back from Uaoa Bay. You don’t just see the ocean, you can smell it and hear it too.
300 Mehana Road Unit B
Unit B has entitlements to build a 1,000 square foot accessory farm dwelling (cottage), This unit includes 4.22 acres of gently sloped land. As with unit A, it offers big ocean views and Haleakala views. There is a grove of guava trees and plenty of space to plant your own orchard, gardens and more. There is even an ag storage shed included in the sale for you to keep all your farm and garden tools.
Utilities
Electric and high speed internet both run to the edge of the property. A buyer will be responsible for bringing those utilities to the building sites. There are two options for water. Many homes in the Haiku area rely on water catchment. Water is caught off a metal roof, stored in a catchment tank and then filtered prior to consumption. The seller also recently obtained approvals from the state for a well. The buyers of the units would be responsible for installation costs of the well.
Contact The Maui Real Estate Team
Unit A is offered for sale for $985,000. Check out the 300 Mehana Unit A listing page for additional photos. Unit B is offered for $895,000. Check out the Unit B listing page for additional photos. If you want the opportunity to build both a house and a cottage and just over 8 acres of land in total, you can of course buy both! These listings sold! Contact The Maui Real Estate Team for assistance with other Maui Land listings.