Sakamoto Properties

What Are Hawaii Property Tax Rates
December 19, 2016

What are tax rates like in Maui and how would you compare that to the rest of the United States? Roy & Betty Sakamoto sit down to discuss one of the questions that comes up on a regular basis. - Ask our Maui experts!

Betty: We’re going to move on to another question here. Okay, one of the questions that comes up which is kind of interesting, I think, is “what are tax rates like in Maui and how would you compare that to the rest of the United States?”

Roy: Okay, Maui has the lowest tax rates of anything any county in Hawaii; our tax rates are second to none. We are much lower than California. In California, under proposition…I forget the proposition number but let’s say you buy a property for 1 million dollars, you’re instantly taxed, your property tax assessment is 1 million dollars and there’s nothing you can do to fight it. Here our assessments are usually based on a little bit less than market value and depending on the usage of your property, whether it's a second home, a principal residence, a vacation rental property, various tax rates but I think Maui rates are the lowest anywhere in the country.

B: I think you’re right, I think no question. Every time somebody, especially, we do a lot of California investors, New York investors and when they take a look at our tax rates it is one of those happy moments, whereas they’re really…

R: Yeah, they can’t believe we’re as low as we are…

B: Absolutely.

R: That’s great.

B: So that’s interesting by itself.

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