HBR News

Honolulu City Council Update

Details: Category: City Affairs Blog; Published: June 19, 2019

City Council passed the following measures on the following:

Residential A tax rate increase | Homeowner's exemption amount increase | Short-term vacation rental regulations and enforcement

RESIDENTIAL A TAX RATES INCREASE

Honolulu City Council introduced and passed Resolution 19-55, which sets real property taxes for Hotel/Resort and Residential A for fiscal budget year 2019-2020. Residential A Tier 2 (after the first million) tax rate was raised to $10.50 (a $1.50 increase) per $1,000 assessed property value. Residential A tax rate applies to property owners without a home exemption. Property owners will see an increase in their July Honolulu City & County real property tax bill.

City Council Hears Final Reading for Vacation Rental Bill

Details: Category: City Affairs Blog; Published: May 8, 2019

The issue of vacation rentals has been so controversial that even as the City Council faces final reading of Bill 89 CD 2, additional bill drafts are being proposed. The City Council meets on Wednesday, May 8, at 10 am to discuss the issue as well as other important bills.

Affordable Walk-Up Rental Bill Heard by City Council

Details: Category: City Affairs Blog; Published: May 6, 2019

On March 28, the City Council Committee on Zoning and Housing chaired by Kymberly Pine heard a number of bills in an attempt to address Oahu’s affordable housing shortage. Bill 6 is a bill to encourage development of affordable walk-up rental properties for low wage earners and reduce proliferation of excessively large single-family homes.

Development of Affordable Rental Units Scheduled for First Reading

Details: Category: City Affairs Blog; Published: March 4, 2019

The City Council meets on March 8 at 10 A.M., and will hear bills to increase development of affordable rental housing on Oahu. The Affordable Rental Housing Report and Ten-Year Plan (July 2018), published by the Special Action Team on Affordable Rental Housing Report pursuant to Act 127 (Session Laws of Hawai’i 2016), states, in part, “Although many reasons contribute to the lack of affordable rental housing units for low- and moderate-income households, the primary reason is a poor rate of return for investments in affordable rental housing projects.”