Owners of long term rental properties will be eligible for tax exemptions. If a property owner has a signed lease for 12 consecutive months of the same occupant, the owner may be able to receive up to a $200,000 exemption. If you have more then one home you wish to file exemptions for, they must be on different parcels. Any portion used for commercial use will not qualify for exemptions.
Long term rental exemption applications need to be filed by December 31st for 2022. Applicants must also include the signed lease. Any questions can be addressed from the Real Property Assessment Division.
Hansen Ohana’s Maui Newsletter Maui Luxury Real Estate LLC
Hawaii Governor David Ige provided an update on the State’s Pre-Travel testing program saying it is set to launch today on Oct. 15 with an expanded list of testing partners. Under the program, travelers arriving in Hawaii must take a Nucleic Acid Amplification Test from a CLIA certified lab within 72 hours from the final leg of departure and produce a negative result in order to avoid the state’s 14-day mandatory quarantine. Travelers are encouraged to take a second test 3 days after arrival, but it is not mandatory. It is free and people who do it get nice gift cards to restaurants. Children under the age of five are exempt from the test. This expanded list of partners includes Hawaiian, Southwest and United airlines; CVS Health and Walgreens; Kaiser Permanente and Quest Diagnostics; AFC and CityHealth Urgent Care; as well as Carbon Health, Vault Health and Color. Separate from the travel testing, Gov. Ige also announced that the state will receive 420,000 Abbot BINAXNOW rapid antigen tests from the federal government by the end of the year. These 15-minute tests will be used first to protect the health of residents, specifically at long term care centers and as schools are reopened. If you need information regarding Covid testing approved by Maui County, which restaurants are open, what activities are available, etc., please let us know by emailing us at email@example.com We are happy to assist in any way. Our real estate update as of October 12, 2020: Median home prices as of October 1 were up 9.1% since last year at $785,000. On the other hand, condos were down 8.3% from last year at $495,000. Number of new listings were down about 3.9% for homes but remained flat for condos. For the first 12 days of October the market is still showing resilience with 37 properties pending for South Maui, 40 properties for West Maui, 7 properties for the North Shore, 18 properties Upcountry and 17 properties pending for Central Maui. With continued low interest rates and low inventory, the market appears to be relatively stable in terms of pricing for properties on Maui. Fidelity state this is the first month condos outsold homes.
If you’re interested in something new, there are quite a few projects in a variety of price ranges planned across Maui spanning over the next ten years. Additional housing is needed on Maui for Maui residents. Last month we saw renderings of some workforce housing being conceptualized in Kapalua across from Pineapple Grill and another up for approval in South Maui across from The Five Palms. In addition to that there is a project currently underway in Wailea. The Wailea Hills development includes 75 units for sale in 15 separate buildings. They have beautiful floorplans, many with gorgeous views, underground parking and good locations. Prices start in the mid $1.5’s million and up and seem to be selling pretty steadily. If you would like to view them virtually please let us know at: firstname.lastname@example.org and we will send you the links. In addition, there is an application for a Wailea Project consisting of 289 condos, 51 zero lot line homes, 92 duplex homes and 146 multi-family units of which 23 units could be short term rentals, but this may take some time before they get final approval.
With so many potential buyers now glued to social media we have significantly increased our advertising online by offering additional video tours, virtual open houses and tours as you can see by the links below.
WAILEA PALMS 3603 IS THE ONE! This spectacular 2 bedroom, 2 bathroom unit is a rare offering of one of the best locations AND best remodels in the complex! 3603 borders the end of the development to provide a large and grassy private area allowing for quiet enjoyment of the soothing ocean and West Maui mountains views. Top of the line upgrades include slate appliances, Caesarstone countertops, tile plank flooring, glass tile backsplash and custom built cabinets. This elegant abode tastefully combines an upscale, classy appearance with modern design features including new LED lighting, Mitsubishi split A/C systems in the bedrooms, Panasonic whisper quiet bathroom fans, fixtures and furnishings. No surface and no detail were left untouched as even the exterior lanai has been retiled to satisfy the most discerning tastes. You can proudly call Wailea Palms 3603 home (or home away from home) while enjoying true single level living as this unit is without a single step. Wailea Palms is a gated resident complex with a tranquil pool area, spa with stunning ocean views, club house, putting green, and exercise room. Thoughtfully designed, aesthetically and architecturally pleasing, and conveniently located ~ YES, YOU CAN HAVE IT ALL.
If you’ve been waiting for a prime location, exquisitely remodeled Wailea home ~ LOOK NO FURTHER. 65 Hale Hookipa Way offers top of the line appliances, new A/C units, Sapele wood cabinets, new lighting, new tile and hard wood flooring, bathroom fixtures, a grand stair case and a floorplan perfect for entertaining with thoughtful flow and design. Everything from the impressive curb appeal first impression, to the high ceilings, 3 bedrooms plus den, 4.5 bathooms, spacious two car garage and attention to detail throughout this stunning home in the sought after Wailea Fairway Estates is sure to meet the “must-have” criteria of the most discerning buyers. Relax in your own backyard oasis with recently re-tiled pool and pool area that also boasts updated pool equipment. The soft sand, wondrous snorkeling and natural beauty of Ulua and Mokapu beaches are only a short stroll across the street. World famous golf, tennis and popular dining and shopping options including the Shops of Wailea are also nearby. 65 Hale Hookipa Way awaits you.