Maui Real Estate Resources
There is an ocean of information available to you and we believe quality has never been more important or offered more value. We are more than just a web site, it is a commitment to deliver help to our clients. We can help by providing solutions. Our solid disciplined approach and diversification offer a position of strength in our industry.
Whether you want to live on Maui full time or part time, own a vacation rental property or own a 2nd home there is much to learn about Hawaii's taxes. It is important to classify your property correctly. In Hawaii the property tax system is unique to each county, unlike many other states where property taxes are a statewide system. Tax classifications, rates and exemptions will vary county to county. Maui County includes the islands of Maui, Lanai and Molokai. Often when you buy a property the tax classification is going to be different for you then it was for the seller.
Hawaii also has a General Excise Tax and a Transient Accommodations tax. If you are going to use your property as a rental refer to the Vacation Rental info section.
Vacation Rental info:
Many people have discovered that they can own their piece of paradise and rent it out to help with the costs. In many cases it also can be used as a deduction on your income taxes. Be sure to consult your tax professional. We have owned vacation rental property for 10+ years in Maui and have learned many of the pitfalls you want to avoid; we also learned the many productive ways to best manage your own piece of paradise. Vacation rental ownership gives many people an opportunity to own a second home that otherwise they may have overlooked. Owning a vacation rental property is like having a business and it should be treated as such. You have certain obligations and benefits, so you certainly want to start off on the right foot. Contact us so you can avoid the common pitfalls and make the most from your investment
General tax information
General Excise Tax
Transient Accommodations Tax
Maui County Property Tax
Everyone who travels to Hawaii has different needs. For example some people like to travel with pets. We have traveled with our dog to and from Hawaii. Hawaii has a unique protocol in place and you certainly need to understand that system. Not only do you have to comply with the Hawaii agriculture rules, but each airline has its own rules as well. Even though the Hawaii Agriculture Department refers to it as Animal Quarantine Information, there are now ways to bring your animal in without putting them into quarantine. http://hawaii.gov/hdoa/ai/aqs/info
If you move to Hawaii as a full time resident be sure to look into possible tax benefits, which may apply to you, such as deducting moving expenses, including shipping of your personal effects. Be sure to talk to your tax professional. The information we listed are only a couple of examples, but it is to get yourself thinking and to look into all the different options available to you. Contact us with your individual needs and we will make sure you are headed in the right direction.
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Heidi Farmer, R(B) 808-214-4646
Ali'i Resorts LLC
128 Kio Loop, Kihei Hawaii, 96753
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