More vacation rental taxes a possibility
HONOLULU - Tightening regulations on vacation rentals could allow the state to collect up to $35 million more in taxes each year.
A bill before the state House aims at ensuring transient accommodation taxes are paid, even when Hawaii visitors rent their lodgings from out-of-state property owners.
The measure seeks to accomplish this by requiring nonresident owners to work with licensed real estate brokers and salespeople when renting out their homes for short-term stays. Those transactions would then be subject to the transient accommodation tax.
Exclusive Getaways President Dan Monck told the House Tourism Committee on Monday that the bill would allow the state to collect $27 million to $35 million in taxes that currently doesn't make it to the islands.
The committee deferred action on the bill to work on it further.