Jack Tyrrell specializes in Kakaako, Honolulu, Hawaii luxury condo projects.

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Organization speaks about the fight to legalize Oahu vacation rentals

Photo property of Jack Tyrrell & Co.

Photo property of Jack Tyrrell & Co.

The fight to legalize Oahu vacation rentals continues; Pacific Business News provides an update in their article from April 11, 2016, below: 

An association has formed to support Hawaii's burgeoning transient accommodation industry and is beginning to to meet with officials from the City and County of Honolulu to discuss viable solutions to the currently illegal vacation rental industry.

The Oahu Alternative Lodging Association formed in February this year.

“We are in support of licensing transient vacation rentals in a way that is safe and secure,” said David Moyer, president of the association. “In essence we would like to go back to the drawing board and update the land ordinances so it facilitates the industry.”

To facilitate this discussion OALA has formed a steering committee and a provisional board. They plan to hold community events around the island throughout the rest of the year to discuss the issue with people both for and against TVRs.

Moyer has also spoken to the city’s Department of Permitting and Planning, who has recently cracked down on illegal vacation rentals. The DPP has issued more violations so far in 2016, compared with the entirety of 2015.

The president of OALA thinks the best solution would be some kind of ongoing licensing approach.

“We need to create a compromise and a sustainable economic policy that would protect everyone’s rights,” Moyer said.

Moyer has some support for his ideas from George Atta, the director of the DPP, who said he is looking at ways the city could legalize some transient vacation rentals and perhaps even generate revenue from them.

When asked what he thought of the state trying to make more money off the industry, Moyer said, “I don’t think it would be at all unfair.”

“They [the city] could charge a special class of property tax rate,” Moyer said. “TVR owners need to pay their taxes.”

To read more about the issue surrounding TVRs check out PBN's print edition on Friday.



FIRPTA Update from First American Title

Important update from First American Title Senior Vice President Patsy K. Saiki:

The Protecting Americans from Tax Hikes Act of 2015 was signed into law on December 18, 2015.  It included some amendments to FIRPTA, including an increase to the amount of withholding for certain real property transfers that will affect closings on or after February 16, 2016.   The flyer below provides a summary of that amendment: