Poipu Beach Real Estate Update- For a complete update on the fee simple activity in Poipu Beach since the beginning of the year click here: Poipu Beach Current Market Analysis.
For the Kiahuna Plantation click here: Kiahuna Plantation Current Market Analysis
Proposed Hike To Hawaii’s Transient Accommodations Tax
The proposed measure to raise the Transient Accommodations rate to 10.25% has passed the House Water and Land Committee and is now making its way to the Finance Committee. Here is how the description of HB2081 reads: Increases the transient accommodation tax rate to 10.25 per cent beginning on 1/1/2025. Requires a minimum $50 transient accommodation tax to be levied for each transient accommodation or resort time share vacation unit furnished and which shall be deposited into the general fund. Appropriates funds to DLNR for protection, management, and restoration of the State's natural resources.
If passed this will start 1/1/2025. The last time TA went up was in 2018 and it went up by 1%. If you want to follow along with this bill here is the site: House Bill 2081
5.7 Earthquake On Big Island
On Friday the Big Island had a 5.7 earthquake 1.5 miles south of Pahala which is located near the ocean on the southern side of the island, the good news is we there was no tsunami threat afterwards.
There were no structural damages or injuries, there were items that fell off of walls and shelves. It was reported that Oahu and Maui also felt the quake which, given their proximity to Hawaii that makes sense. One news item stated some people on Kauai said they felt it but I didn’t even know that it happened. I grew up in Southern California and know what it feels like so if it did hit here, it was very slight. In the 20 years I’ve lived here there was one time that I felt an earthquake from the Big Island, it was very minor but was really shocking.
Kauai Police Warn Of An Increase Of Car Break Ins
The rise of car break-ins look to be more of a smash and grab type and most of these have happened at trailheads of popular hiking spots. Thieves grab wallets, purses, electronic devices and other such items that people have left behind while they are gone for sometimes hours on end. In light of the increase of this type of activity the Police are asking the public to remember to not leave valuables in your car, park in well-lit and visible areas, lock your car and if you see suspicious activity report it.
Oahu, Maui and Big Island Real Estate Statistics 2024 vs 2023
As with Kauai, Oahu and the Big Island had an increase in the number of homes sold. Maui did not but with the fires their stats will not be normal for some time. With the exception of the Big Island the Median Home Price is up. Buyers are clearly jumping into the market if they can.
Maui and Oahu had a huge increase in the number of condominium sales and overall, there was an increase in the Median Price for condominiums.
Below are the statistics.
