New Short Term Rental Law Status and How It Affects Ho'olei
The short answer is that it is extremely unlikely that the law would impact Ho’olei, in the unlikely event that it passes and actually takes effect. The post below gives a comprehensive overview of the current status of a pending law outlawing vacation rentals at 7,000 condos on Maui, which identified around 100 complexes as targets for conversion to long term rental units – and Ho’olei is on that list.
However, officials have been vocal about targeting properties that were originally Apartment zoned (A1 and A2), which were grandfathered into vacation rental legality. That’s not the case for Ho’olei, which has the favored Hotel zoning, which makes it indisputably legal for short term rental. Ho’olei is one of only three properties on the list zoned Hotel.
If the world were to go completely crazy, owners would likely revert to cooperation with The Grand, which would leave no doubt as to the Hotel/short term rental status.
Kevin Spaise is a Maui Realtor specializing in Maui vacation rental investment real estate. Kevin is an expert in Kihei and Wailea real estate and has been a full time Realtor for 20 years, with more than $120M transacted. He owns Vacation Maui, a property management company with 70+ investment condos under management, and delights in providing real-time performance data to future investors. See KevinSpaise.com, or call him directly at (808) 344-0624.
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