They’re cracking down on vacation rental properties. Here’s what that means for you.
I get a lot of calls and questions about vacation rentals. They ask me, “Can I make my home on Kailua a vacation rental?”
Regardless of what you’ve seen your neighbors do, the answer is no. The question about vacation rentals is about to end; it’s been up for a vote and on the city council’s docket for the last two sessions, and they’re trying to end it. And recently, we found out the mayor is going to end the question for good.
There are three main areas of Honolulu that allow vacation rentals:
- Waikiki, which has a zone for mixed-use rentals.
- Ko Olina, which is zoned as a vacation rental, mixed-use housing area.
- Turtle Bay, which has grandfathered-in transit accommodation units.
If you’re in a residential area, there are fines coming down the pipeline. These will be anywhere from $10,000 to $100,000 per day, which will be levied against the homeowner. If you’re considering vacation rentals, you have to decide if it’s worth it. Personally, I don’t even get involved because I don’t want to bring bad news to owners about fines.
“If you’re currently in the vacation rental business, things are about to get scary. “
They’re saying there are currently 8,000 illegal vacation homes—only 800 are legal.
If you’re currently in the vacation rental business, things are about to get scary. You should ask your property manager what’s going to happen in the near future. In the meantime, if you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.