A big change coming?
Richard Bissen, the mayor of Maui County, has announced that he’ll be trying to pass a bill to eliminate vacation rentals in certain parts of Maui, as a way to increase the long term rental situation here. You can read the Press Release for the full details on what’s being proposed. Keep in mind that this bill needs to go through the regular legislative process which includes public hearings and community input. There will be opportunities to weigh in if you’re inclined.
The first phase of this will be aimed at West Maui and those condos and apartments that were built for long term use but have recently been used for short term rentals without any specific permits. It all depends on the zoning, and for now the Hotel zoning is safe and they’re focusing on the buildings in Apartment zoning. Apparently the County will have the power to change the zoning if needed. If all goes as planned the bill will take effect by July 1, 2025. It remains to be seen if they can legally do this.
If you’re a property owner who will be affected, please support Maui’s local organization, MVRA, which advocates for the rights of homeowners. They will keep you informed on the legislative updates.
Are there many condos for sale?
All of this talk about repealing the ability to do short term rentals in thousands of condo units has led to uncertainty in the condo market. While nothing has actually happened yet, it’s having an effect on buyers and sellers, creating an increase of inventory of condos for sale here on Maui. The number of condos for sale is rising faster than the number of single family homes for sale.
Is this a good time to be selling? Is it a good time to be buying? It all depends on what your needs are, and you can count on getting good advice when working with me.
Let me know if you have questions about buying or selling Maui real estate.
Thanks for reading my Maui blog…
Got questions about the market? Buying or selling real estate on Maui? That’s what I do. Let me help YOU.
Georgie Hunter R(S) e-Pro, Hawai’i Life Real Estate Brokers
1043 Makawao Ave 203B, Makawao HI 96768
E-mail or call/text: 808 283-0635