On Kauai, 1 in 8 homes is a vacation rental. And on Maui it's 1 in 7. Most Illegal (Kailua: salon, renters)

[galaxyhi]

Originally Posted by Enyo

$150/mo for rent? Are you missing a zero?

No, It also was supposed to say "I'm certainly NOT going to buy a $300K ( as in 300 thousand dollars), and rent it to a local for $150(dollars)/month".

That means I'm not going to buy an expensive condo just to rent to a local cheap.

You would be right , it's be at least $1500/m if I wanted to rent it out minimum, and I'd question whether minimum wage locals could pay me $1500/m for renting it.
Especially if tgey dont pay and I have trouble evicting them for non payment of rent.

I'd also require 3x s the rent to get in...first, last and deposit. So in order for even a local to rent it @$1500/m, they'd need $4500 to get the keys to move in.

I'd rather rent to a transient for a grand (or more ) a week,
paid in advanced on credit card.

Just saying id gladly pay Hawai'i 10% or $100 / week in the case they taxed transient rentals at 10%, IF BIG IF, it went to the locals in some way instead of govt pockets.

[galaxyhi]

Another thing the govt of Hawai'i could do is make it so that locals with:1) a local paycheck; 2) a local address for SS deposit at a local bank/CU; 3) a Hawai'i drivers license since it is tougher to get one for Hawai'i and or existing proof of "permenent residency" to be able to rent at a "local market rate" for say 20% of the condos in a complex, and I'd make it so locals can have say, a 20% discount on renting a condo, kind of like rent control.

That way locals have a chance to rent or buy at the "kama 'aina" rate for rentals or purchase.

That would make it more habitable for locals, but still allow other buyers to rent out to weekly transient people, who come with piles and piles of money To the islands to inject into the local economy.

( especially since much of the injected monies go back to the mainland for things Hawaiians buy and "import" to the islands).

Would this help solve the locals housing problems?

Gee maybe I should run for govenor.....

[whtviper1]

Originally Posted by galaxyhi

Another thing the govt of Hawai'i could do is make it so that locals with:1) a local paycheck; 2) a local address for SS deposit at a local bank/CU; 3) a Hawai'i drivers license since it is tougher to get one for Hawai'i and or existing proof of "permenent residency" to be able to rent at a "local market rate" for say 20% of the condos in a complex, and I'd make it so locals can have say, a 20% discount on renting a condo, kind of like rent control.

That way locals have a chance to rent or buy at the "kama 'aina" rate for rentals or purchase.

That would make it more habitable for locals, but still allow other buyers to rent out to weekly transient people, who come with piles and piles of money To the islands to inject into the local economy.

I’m sure - the “locals” who own the vast majority of real estate would love your plan to take away 20% of their revenue.

[galaxyhi]

Originally Posted by whtviper1

I’m sure - the “locals” who own the vast majority of real estate would love your plan to take away 20% of their revenue.

Trying to make it "fair rents" for those locals who DON'T OWN their piece of Hawai'i, not ALL Hawaiians own property.

It would also allow them to save to buy tgeir piece of the pie.

Think, people.

[KauaiHiker]

Originally Posted by galaxyhi

I'd also require 3x s the rent to get in...first, last and deposit. So in order for even a local to rent it @$1500/m, they'd need $4500 to get the keys to move in.

I think that's illegal in Hawaii. The most you can ask for is a deposit no greater than one month (except for pets), plus one period of rent (usually one month--thus the first month).

[galaxyhi]

Originally Posted by KauaiHiker

I think that's illegal in Hawaii. The most you can ask for is a deposit no greater than one month (except for pets), plus one period of rent (usually one month--thus the first month).

Well, now, I wouldn't have to worry about that if I rented my condo for $1k A week to transients, would I?
I mean if rake in 4-5k a month. Is willingly pay the 10% I suggested above if it went to locals, plus the regular taxes imposed on hotels.

I'd get their weekly rent rate, plus id have their c.c for security.

See why I'd not want to rent to a local who can't afford $1500 / rent ?

It's pretty much the same in all high rent districts on the ml. It can be required first, last and security, especially in transient type resort areas where tourists flock.if I can't I can't.

I'm trying to help solve a problem to which you guys want to put up roadblocks. I'd gladly pay the taxes if imposed.

If there's no good roi then there won't be sales of condos to ml.

Leasehold or fee simple.

[WaikikiBoy]

Originally Posted by galaxyhi

Trying to make it "fair rents" for those locals who DON'T OWN their piece of Hawai'i, not ALL Hawaiians own property.

It would also allow them to save to buy tgeir piece of the pie.

Think, people.

I don’t really understand this. And I’m not trying to put up roadblocks. But when I read this I wonder what “fair rents” means ? Who decides what is a fair rent ? The tenant who agrees to rent the space ? Or does the owner decide “fair rent” based on their costs to purchase and maintain the property and cover the risks of being a landlord ? Or are you suggesting eliminating a market based free economy and seeding pricing control to the government ?

Your post also seems to imply that the rights and needs of some people are more important than others. Why are the needs of the renter more important than the need of the property owner ? And is it fair to say one group should be punished and forced to subsidize others ?

Lastly, when I read this I wonder about the phrase “their piece of Hawaii” and get “their piece of the pie”. It sounds like you feel their is an entitlement to own. I own properties through a lifetime of sacrifice, choices, and determination to own. Should I be punished so that others can be given something others had to earn ?

I really believe if people want something badly enough, they will find a way to earn it. And once they do earn it, they’ll appreciate it more than if some attempts to give them their “fair share”.

But seems like a lot of people in todays US feel they are entitled to things without any requirement to earn it.

But my way of thinking seems out of favor these days.

[prospectheightsresident]

While I don't support breaking the law, I do have a problem with legislation that limits how you can rent your property. It goes to my general feelings against rules/laws/regs for activity that doesn't pose a physical threat to others. Thus, I am not up in arms against these illegal vacation rentals.

[whtviper1]

Originally Posted by prospectheightsresident

It goes to my general feelings against rules/laws/regs for activity that doesn't pose a physical threat to others.

So, If I buy a parcel of land in Kailua, should I be able to put a hotel up - or a 50 story building?

You have to have rules and regulations - because most people don't necessarily have good intentions - and usually the opposite.

[WaikikiBoy]

Originally Posted by prospectheightsresident

While I don't support breaking the law, I do have a problem with legislation that limits how you can rent your property. It goes to my general feelings against rules/laws/regs for activity that doesn't pose a physical threat to others. Thus, I am not up in arms against these illegal vacation rentals.

I am 100% against illegal vacation rentals and believe regulating vacation rental zones and/building locations is appropriate.