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Where are you getting the over $1,000,000 median price for Kailua? I just looked at some sale ads and saw most around 1/2 to 2/3 that. Nice-looking houses, certainly not dumps or fixer-uppers. My friends live there and I seriously doubt they live in a $1,000,000 house. So I'm just curious.
You must be looking at Kailua on the Big Island versus Oahu.
Up n running. Things looking GOOD. ps-Hong Kong mcDonalds is a madhouse during normal hourS........ Lol. On a 2 seat table don't be surprised if a homeless person sits with you.
Where are you getting the over $1,000,000 median price for Kailua? I just looked at some sale ads and saw most around 1/2 to 2/3 that. Nice-looking houses, certainly not dumps or fixer-uppers. My friends live there and I seriously doubt they live in a $1,000,000 house. So I'm just curious.
So over 5,000 "courtesy" letters have been sent out (in fact more than that). Some vacation rentals charge more than $2,000/day while some charge as little as $60/day. Most range between $200-400/day.
I don't see these units can be converted to B&B. I also don't see them switched from short term to long term rental. Maybe they will be placed in the market for sale.
$2,000 processing fee per year for B&B is also discouragingly high.
So over 5,000 "courtesy" letters have been sent out (in fact more than that). Some vacation rentals charge more than $2,000/day while some charge as little as $60/day. Most range between $200-400/day.
I don't see these units can be converted to B&B. I also don't see them switched from short term to long term rental. Maybe they will be placed in the market for sale.
$2,000 processing fee per year for B&B is also discouragingly high.
I’ve read about some owners who say they will now begin advertising for 30 day minimum rentals. But I think that is going to difficult for them compared to short term vacation rentals.
I suspect some will sell. Some, who want to still use the unit between tenants will likely try the 30-day minimum. And I would guess some who don’t need to use it will possibly rent long term. It will be interesting to see how it shakes out. I’m wondering if some will try to find a loophole to just keep doing what they are doing.
I’ve read about some owners who say they will now begin advertising for 30 day minimum rentals. But I think that is going to difficult for them compared to short term vacation rentals.
I suspect some will sell. Some, who want to still use the unit between tenants will likely try the 30-day minimum.
Owners for 30+ day rentals will have to really reset their expectations. Many of the Kailua rentals that short term would go $300-$400/nightly ($9,000-$12,000/monthly) would like rent for $4,000-4,500/monthly on a longer term lease.
I’ve read about some owners who say they will now begin advertising for 30 day minimum rentals. But I think that is going to difficult for them compared to short term vacation rentals.
I suspect some will sell. Some, who want to still use the unit between tenants will likely try the 30-day minimum. And I would guess some who don’t need to use it will possibly rent long term. It will be interesting to see how it shakes out. I’m wondering if some will try to find a loophole to just keep doing what they are doing.
probably the only ones that really have to sell are the ones that over extended, paying too high a price and too low a downpayment, expecting the illegal rental train to continue. Many may attempt 30 day rentals and find it's not worth it. Most will eventually convert to long term rental.
the county's strategy of going after advertisements is a smart one. It's a lot harder to promote your illegal rental if prevented from using rental platforms. It's like attempting to do ride sharing without uber/lyft. Possible, but really tough
Seems like the argument that the new laws are unconstitutional and unfair to legal rentals is pretty weak. And Waikiki Banyan saying basically "we've been operating illegally for a long time so it's unfair restrict our ability to advertise our illegal units now" is also pretty lame.
I just watched a Youtube video promoting Hawaii Tourism sponsored by Air Asia. Two Asian girls traveled to Oahu, staying in North Shore for several days and lived in a nice House rented from "Sharks Cove Rental".
I guess this rental agency is also a sponsor.
But since this video is non-English, I wonder if the City can find out this illegal vacation rental.
dont quote me on it, but i believe hta took a position against the illegal rentals. which makes sense, as they'd want tourists to spend their dollars at legal accommodations and pay TAT, which is how they get the bulk of their funding.
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