It seems to be a trend in this country, and maybe even worldwide, that communities are clamping down on short term rental activities in their neighborhoods. Airbnb is in the spotlight along with other home sharing websites.
Maui short term rental update - 5 year restriction coming. If you're thinking about buying a home on Maui so you can start renting it out on Airbnb, you're in for a surprise. A new law will come into effect this September that puts some restrictions on what you can do with your property.
Maui County does not make it easy to turn your home into a profit center. Homeowners and would-be homeowners who are thinking about doing short term rentals, or Bed and Breakfast operations need to do their homework. You can start on the County website regarding TVRs and other short term rentals. The permitting process is slow and tedious, perhaps as a way to deter people. Don't delay submitting your application if you are considering this action.
Some new legislation is making it even more difficult by requiring that you must own a property for 5 years before applying for a permit. They claim it will deter buyers from buying homes for the sole purpose of renting them out short term ( which is defined as anything less than 6 months ).
This only applies to homes in areas that are not zoned for short term rentals, and transient vacation rentals (TVRs). Resort condos are already allowed to rent short term, as are time share units. It's the regular neighborhoods that are being focused on since you're basically running a business in an area zoned for simply residing.
Perhaps this will help to make housing more affordable, or maybe it will just make more people operate under the radar.
If you're looking for a Maui home to call HOME, search the Maui MLS here.
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Buying or selling real estate on Maui? That's what I do. Let me help YOU.
Georgie Hunter R(S) e-Pro, Hawai'i Life Real Estate Brokers
127 Hana Hwy. #G, Paia HI 96779
E-mail or call/text: 808 283-0635