Aloha!
Sellers of Hawaiian Real Estate are often dismayed and surprised at settlement time to see a meaningful portion of their proceeds gobbled up by Hawaii State Conveyance tax. It is always a good idea to let your listing clients know about this tax up front so as to avoid any unpleasant experiences at closing time. Below you will find the current rates as put forth by the Hawaii State Department of Taxation.
Dont forget to contact your local Old Republic Marketing Representative for a quick and accurate estimated closing statement as part of your listing presentation! Your clients will thank you for it!
HB1308 Conveyance Tax
Act 156, SLH2005
Effective July 1, 2005
For all transfers or conveyance of real or any interest
$1 to $599,999.99 .10 per $100 Round to nearest
$600,000 to $999,999.99 .20 per $100 Round to nearest
$1,000,000 and above .30 per $100 Round to nearest
For the sale of a condominium or single family residence for where
the purchaser is ineligible for a county homeowner's exemption
$1 to $599,999.99 .15 per $100 Round to nearest
$600,000 to $999,999.99 .25 per $100 Round to nearest
$1,000,000 and above .35 per $100 Round to nearest
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