Are you an investor or homeowner on the Big Island of Hawaii? Recent legislative shifts have significantly changed the carrying costs for luxury properties, and understanding these new tiers is crucial for your real estate portfolio.
In this breakdown, I analyze the precise financial impact of Hawaii County’s Bill 128 and Resolution 574-26. We look at the newly created Tier 3 residential tax rate for non-owner-occupied properties assessed over $4 million, which is now taxed at a marginal rate of $17.00 per thousand. While non-owner occupants will see a carrying cost increase, we also explore the deliberate wealth redistribution that lowers rates for local residents, owner-occupants, and affordable housing providers to $5.75.
Whether you own a luxury estate in Kukio, Hualalai, or Kohanaiki, or you are an international investor modeling a future acquisition from overseas, navigating these marginal tax rates requires strategic insight.
Ready to optimize your Hawaii real estate strategy? Let’s connect.
Jason Wong (PB), MBA
President & Principal Broker, Island Dragonfly LLC
🌐 Personal Website: https://jasonwong.us
🌐 Firm Website: https://islanddragonfly.com
📱 Contact me to schedule a complimentary property valuation or confidential consultation.
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