Are you a Hawaiʻi homeowner quietly handing the City extra money every single year? If you own a home on Oʻahu and you haven’t filed for your Homestead Exemption, that’s exactly what’s happening — and it’s one of the easiest fixes in Hawaiʻi real estate.
I’m Jason Wong, President & Principal Broker of Island Dragonfly LLC, and in this video I break down the Honolulu Homestead Exemption in plain English — no jargon, just real savings.
Here’s what you’ll learn:
✔️ What the Homestead Exemption actually is — think of it as a “thank you for living here” discount from the City & County of Honolulu for owner-occupants, not visitors or investors.
✔️ The standard deduction — $120,000 knocked off your home’s taxable assessed value, so you’re not taxed on that first chunk.
✔️ The senior bonus — turn 65 and that deduction jumps to $160,000. Real money staying in your pocket, not the city’s.
✔️ The qualifying rules — you must own the home AND occupy it as your principal residence (at least 270 days a year). No buying a place, listing it on Airbnb, and claiming the break.
✔️ The residency checks — voter registration, where you file income taxes, where your car is registered. If you look like a resident and complain about traffic like a resident, you’re probably eligible.
✔️ The deadline everyone misses — September 30. Miss it by one day and you wait an entire year to start saving.
✔️ The senior auto-upgrade trap — the $160K upgrade only kicks in if RPAD has your date of birth on file. Trust, but verify.
Whether you’re a longtime Oʻahu homeowner, a first-time buyer, a Mainland or overseas owner of Hawaiʻi property, or relocating from abroad, understanding this exemption can save you thousands over the life of your home.
Real estate is complicated. Saving money shouldn’t be. If you’re unsure about your exemption — or you’re looking to buy a home and want a broker who reads the tax code for fun — let’s talk.
🌐 Websites: https://jasonwong.us | https://islanddragonfly.com
Serving Oʻahu, Maui, Big Island, Kauaʻi, Molokaʻi & Lānaʻi — bilingual service in English & Chinese. Excellence Since 2004.
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⚠️ This video is educational and not legal, tax, or accounting advice. Confirm details with the City & County of Honolulu Real Property Assessment Division (RPAD).
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