Kauai Real Estate Update, Hurricane Lane Barrels Towards Big Island

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Hurricane Lane Barrels Towards Big Island

Kauai Real Estate Update
For a full list of the properties that have sold, went into escrow and the new listings that came on the market for last week on the entire island of Kauai click here: Kauai Real Estate Update August 13 to August 19, 2018

Poipu Beach Real Estate- My fee simple Poipu Beach real estate page has been updated with all of the real estate activity since January 1 of this year.  Click here for that information: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate- To find out all of the latest real estate activity at the Kiahuna Plantation click here: Kiahuna Plantation Real Estate Current Market Analysis

<img src=”image.gif” alt="hurricane lane“/>

Click on this photo for information on Hurricane Lane.

Hurricane Lane 
As of late Monday night Hurricane Lane is a category 4 hurricane and is heading towards the Big Island of Hawaii.  The prediction is that today (Tuesday) it should start weakening.  Large swells and heavy rain are predicted.  If it was not for the news updates I wouldn’t know this is going on, it has seemed very calm and quiet at the stores, gas stations etc.  Our weather has not been the typical sunshine, it’s been very humid and rainy.

To keep up to date on the status of this Hurricane click here:  Central Pacific Hurricane Center

New Hawaii Real Estate Related Laws Part III
This is the third entry to my blog about the new Real Estate laws and whom they would impact.

This entry is about Senate Bill 508: Raises the Withholding Amount under the Hawaii Real Property Tax Act ( known as HARPTA).  HARPTA has been around for a while and is called a tax but it’s not really a tax.  It’s a withholding that the State of Hawaii imposes on the non-resident Sellers on all real estate transactions.  This amount was 5% of the sales price.  Example: if you sold a property for $500,000 than the escrow company would automatically send $25,000 to the State of Hawaii for your HARPTA withholding.  This amount is applied to your Capital Gains and is customarily a lot more than they need.  You can file a form to declare your true Capital Gains and the state will reimburse you the difference.  If you sell for less than what you paid for you can file a “HARPTA Exemption” during escrow.

Under the new law the HARPTA amount is being raised from 5% to 7.25% starting on all transactions that close after September 15, 2018.

U.S Department of Housing Files Complaint Against Facebook
The U.S. Department of Housing and Urban Development (HUD) filed a formal complaint against Facebook last week.  They allege that the company has violated the Fair Housing Act by way of their online advertising program which allows Realtors and For Sale By Owners to purchase online ads for their listings that target, and limit, people based on the viewers “race, color, religion, sex, familial status, national origin, disability and/or zip code.  The Fair Housing Act passed in 1968 and carriers severe penalties for those that don’t comply.

This is not the first time that Facebook has been on HUD’s radar screen.  In 2016 it was found that this could be done on Facebook and the company stated that they would prevent this from happening again.  However one year later it was found that similar discriminatory ads could still be placed and this is the basis for this lawsuit.

Here is a statement from Anna Maria Farias who is HUD’s Assistant Secretary for Fair Housing and Equal Opportunity:

“The Fair Housing Act prohibits housing discrimination including those who might limit or deny housing options with a click of a mouse. When Facebook uses the vast amount of personal data it collects to help advertisers to discriminate, it’s the same as slamming the door in someone’s face.”

HUD’s complaint alleges Facebook’s platform violates the Fair Housing Act. It enables advertisers (like Realtors, For Sale By Owners etc) to, among other things:

  • display housing ads either only to men or women;
  • not show ads to Facebook users interested in an “assistance dog,” “mobility scooter,” “accessibility” or “deaf culture”;
  • not show ads to users whom Facebook categorizes as interested in “child care” or “parenting,” or show ads only to users with children above a specified age;
  • to display/not display ads to users whom Facebook categorizes as interested in a particular place of worship, religion or tenet, such as the “Christian Church,” “Sikhism,” “Hinduism,” or the “Bible.”
  • not show ads to users whom Facebook categorizes as interested in “Latin America,” “Canada,” “Southeast Asia,” “China,” “Honduras,” or “Somalia.”
  • draw a red line around zip codes and then not display ads to Facebook users who live in specific zip codes.

Additionally, Facebook promotes its advertising targeting platform for housing purposes with “success stories” for finding “the perfect homeowners,” “reaching home buyers,” “attracting renters” and “personalizing property ads.”

In addition, today the U.S. Attorney for the Southern District of New York (SDNY) filed a statement of interest, joined in by HUD, in U.S. District Court on behalf of a number of private litigants challenging Facebook’s advertising platform.

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