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http://www.hawaiitribune-herald.com/2018...n-rentals/
I tend to think that no action will be taken, because tourism is basically all we have.
I find the idea of a "housing shortage" somewhat offensive given that County is helping to create that very problem.
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It’s nothing to do with a housing shortage. It’s rich Konans not wanting tourists in their neighborhood
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rich Konans not wanting tourists in their neighborhood
Again, yet, still: one size doesn't fit all.
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"It’s nothing to do with a housing shortage. It’s rich Konans not wanting tourists in their neighborhood."
The people who mostly oppose to vacation rentals are not rich; they are average people who are renters or aberrant homeowners who sympathize with the plight of middle-class working renters (and rent to those people even though they could make more money by getting on the VRBO train.)
Vacation rentals is an enterprise conducted primarily by homeowners who want profits greater than that provided by long-term renters. They are often rich.
On Oahu, where vacation rentals have been long established, long-term rentals are increasing scarce in several neighborhoods.
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Maybe I hang with the wrong crowd, but the only people I hear violently opposed to vacation rentals are hotel operators who fear the competition. But most folks who stay in vacation rentals wouldn't stay in the hotels anyway, because they want things like kitchens, laundry facilities, privacy, and/or lower prices. will the snowbirds who stay at my vacation rental for 4 weeks in the winter for $1500 plus tax be willing to stay at the Naniloa for (at a minimum) $3900 plus tax? I doubt it.
Meanwhile, due to all the uncertainty, I've decided to sell my vacation rental, so now instead of getting the full, no-exemption property tax I pay, and the 14.42% GET and TAT tax the tourists pay, the government will be collecting the just property tax from a 65-year old couple who'll get the kapuna discount on their taxes. Their exemption wipes out about 80% of the assessed value of the house. Way to go Hawaii Government!
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"Maybe I hang with the wrong crowd, but the only people I hear violently opposed to vacation rentals are hotel operators who fear the competition."
Yes hotels are major opponents also. VRBO impacts have not affected the Big Island that much, where rents are relatively low. The lack of affordable housing on Oahu is very serious.
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There are probably a hundred horror stories on punaweb on why you don’t want rent your house long term. Real estate people buy cheap houses for rentals. Nice houses cost a lot you would lose money on a monthly rental. anyone that could afford a high rent could buy there own house.
A higher tax rate for vacation rentals would be reasonable to pay for infrastructure. But if you want more rental housing they have to change the laws so The property owner doesn’t get screwed over.
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Real estate people buy cheap houses for rentals. Nice houses cost a lot you would lose money on a monthly rental. anyone that could afford a high rent could buy there own house.
A higher tax rate for vacation rentals would be reasonable to pay for infrastructure.
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Correct. For the most part, houses that are rented long term aren't the ones in the vacation rental pool.
As to higher taxes, those vacation rentals already pay vastly higher amounts in taxes, from property tax to GET and TAT as well as in many cases, paying commissions to a local property manager, paying for maintenance and cleaning folks, etc.
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look at Volcano Village on makai side... its a perfect storm for Air B&B... very cheap land and one of the most attractive National Parks in its backyard, HVNP.. there are WAY F-en too many mainland owned 1 BR kine single night rentals here.. most all are funneling $$ off island back to the mainland to their owners... ie realestate working/knowing yuppies from the SF Bay Area coming over in masses in last couple yrs to build and rent out these places that pay for themselves in less than 4 yrs... I know of a couple recently built that make on average with its $150-$175/night and 2/3rd days rented out... iow often $3K+/mo and these places are unpermitted w/solar power and cost less than $100K to build...
iow big $$ makers, with most all of the $$ going back to mainland... = exploitation
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save our indigenous and endemic Hawaiian Plants... learn about them, grow them, and plant them on your property, ....instead of all that invasive non-native garbage I see in most yards... aloha
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save our indigenous and endemic Hawaiian Plants... learn about them, grow them, and plant them on your property, ....instead of all that invasive non-native garbage I see in most yards... aloha
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Maybe it is time for NIMBYs to protest the vacation rentals.
Maybe some BANANAs will get in the act - “Build Absolutely Nothing Anywhere Near Anything”
(Just a coincidence, bananahead! Not a slight! Funny acronym I ran across yesterday. See you on the mountain later today.)
