Oahu's Short Term Rental Inventory Is about to Decline
By Hawaii homes
(Century 21 iProperties Hawaii)
Honolulu Mayor Rick Blangiardi signed Bill 41 into law on April 26, 2022 and it will take effect on October 23, 2022. The bill takes effect six months from now presumably to provide time to short term rental owners to make adjustments to their rental activities.Earlier this year (January 11, to be exact) the Honolulu City Council passed and the Mayor signed Bill 2, stipulating that home sellers must disclose whether short term rentals are legal or not for their property being sold. If the seller represents their property as being legal for short term rentals, they must also present evidence, in the form of a permit number, zoning information and tax clearance certificates showing their compliance in paying General Excise Tax and Transient Accommodations Taxes paid to the State of Hawaii...
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