Well, after many meetings with the county council and planning departments, the new Short Term Vacation Rental Bill (STVR) has passed. Here is a short synopsis:1.) Any current vacation rentals
New Short Term Vacation Rental Bill 108
Well, after many meetings with the county council and planning departments, the new Short Term Vacation Rental Bill (STVR) has passed. Here is a short synopsis:
1.) Any current vacation rentals within agricultural zoning, which is a huge part of the island, that had the subdivision approved after 1976, will have to cease and desist all STVR's after September 2019. Wow, there goes a lot of vacation rental rooms....
2.) Now if the STVR is "hosted" meaning the owner or their "representative" lives full time on the property, this law doesn't apply.
3.) If the rentals are for 31 days or more, this law doesn't apply.
4.) Current STVR's that are located in the Commercial General, Commercial Village, Residentail Multi-Family, Resort General Plan or Resort Zoning can be grandfathered in by applying for a Nonconforming Use Certificate (NUC) and jumping through lots of hoops and an initial registration fee of $500. The certificate must be renewed yearly for a fee of $250.
I think that in the long run this will cause an increase in the nightly rental rates here. This in turn will cause an increase in value of the "legal" STVR's. My opinion.....
So, my advice is that if you are in the market for a STVR, best to buy now, while they are still affordable and the interest rates are still amazingly low.
If you would like a copy of the STVR Bill 108, just contact me and I will be glad to send you a pdf copy.
I feel grateful every day to be able to live in beautiful Hawaii. I love helping my clients, whether it is finding their perfect home in paradise, or returning to family on the mainland. I was first l....