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Aloha ,
Market Update
In Hawaii, personal income tax range from 1.4 % to 11 % depending upon which bracket you fall in.
There is no sales tax on purchases. Instead, the state collects a 4 % general excise tax on businesses. I also pay general excise tax on my commissions and rental income.
Real property taxes are administered by county. For Maui County, the lowest rate is $2.87 per $1,000 of the assessed value for homeowners. They also have tax relief programs for homeowners ($200,000 off the assessed value), disabilities, and circuit breaker credits. To find out more information, Visit.
Hawaii does not collect any inheritance or gift tax. There is an estate tax on property left by decedents after January 12, 2012. The tax rate is 10 % on estates up to $1 million to 15.7 % on estates of more than $5 million.
Visit for an overview of taxes in Hawaii.
Have a wonderful week.
Mahalo Nui Loa,
Melissa for The Smith Team
P.S. - Due to the U.S. Government shutdown, the Federal Housing Administration is closed. This will affect obtaining a FHA loan. Also, I.R.S. documents are out of reach so the mortgage companies will not be able to verify a borrower's income via his or her U.S. tax returns and the Social Security Number verification. Obtaining a new mortgage will be delayed, so you'll have to be patient if you are under contract.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for October 7th, 2013
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Active
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Pending
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Sold
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Change
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Homes
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470 (242)
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238 (28)
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1014 (143)
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+6
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Condos
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605 (139)
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246 (24)
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1358 (154)
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NC |
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Land
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355 (110)
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51 (3)
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214 (30)
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-1
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Total
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1430 (491)
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535 (55)
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2586 (297)
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+5
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
3150 Waiea Place
Wailea
$1.285M (FS)
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Privacy, privacy, privacy, tucked away on a quiet cul-de-sac behind beautiful electronic gates. Completely surrounded and set-off from neighbors on all sides by lush tropical gardens. This one-of-a-kind home features indoor-outdoor living in every room.
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3350 W Lani Ikena Way
Wailea
$1.67M (FS)
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Beautiful, well maintained five bedroom four bath home, with room for the whole family in the heart of Wailea. The sparkling saline pool and spa, in a private garden like setting, greet you as you enter the gated front entrance.
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305 Plantation Club Drive
Kapalua
$5.95M (FS)
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Never lived in residence at the Plantation Estates. Spectacular views from this contemporary residence overlooking the renowned Kapalua Plantation Golf Course and Pailolo Channel out to the island of Molokai.
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Homes Under $1M
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887 Paniolo Place
Makawao
$425K (FS)
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This Upcountry gem is a must see. A perfect family home located on a flag lot away from the street with a completely fenced yard. It was totally remodeled in 2010 with a new 30 year roof, solar hot water heating system, interior and exterior doors, all new double pane windows, cherry wood cabinets, granite countertops, all new lighting, plumbing fixtures and flooring and gutter.
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22 Kupalaiki Place
Kihei
$450K (FS)
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Move in to this Central Kihei home that is highly upgraded inside and out. This four bedroom two bath 1,504 square foot home is sold turn-key with furnishings. New flooring, paint, appliances, roof and more.
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78 Hui D Road
Kahana
$495K (FS)
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Bank Owned. Large 12,000+ sq. ft. lot at the end of Hui D Road with a 2 bedroom, 1 bath cottage that was built in 2005. Ocean and mountain views from the lot.
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317 Kama Street
Waikapu
$498.5K (FS)
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Spacious 3 bedroom 2 bath home with expansive views in peaceful Waikapu.
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2860 Ualani Place
Pukalani
$649K (FS)
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Large family home in a great cul-de-sac on the golf course in Pukalani. House features a huge living area, 10ft ceilings, French doors, A/C, separate laundry room, bonus room and a 264 sq ft lanai with a golf course view and completely fenced yard.
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Vacation Condos Over $1M
Ka'anapali Shores #460
Ka'anapali
$1.5M (FS)
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Beautiful 2 bedroom 2 bath direct ocean front unit at Ka'anapali Shores. This resort is located on North Ka'anapali Beach and offers many amenities for the active traveler with 2 pools, 3 lighted tennis courts, fitness and massage center, jet spas, complimentary scuba lessons, and wedding gazebo.
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Vacation Condos Under $1M
Kihei Bay Surf #255
Kihei
$179K (FS)
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Ocean view studio that has been tastefully remodeled. It has a space saving wall bed, granite counters in the kitchen, bathroom and desk nook. Real Bamboo flooring, Berber carpet in the living room. Kihei Bay Surf is a popular vacation rental complex with a swimming pool, spa, and tennis court.
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Kihei Kai Nani #230
Kihei
$259K (FS)
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Short Sale. Tropical delight in highly desirable South Kihei, located just a few steps from the white sand and gentle waters of Kamaole II beach.
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Grand Champions #5
Wailea
$635K (FS)
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Welcome to your private paradise in Wailea. Enjoy serene days and nights in this elegantly decorated 2 bedroom retreat located at the edge of the complex. The vaulted ceilings create a feeling of expansive living area. Completely furnished with upscale furnishings and ready to move in or continue to rent as a vacation home.
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Residential Condos
Kihei Shores C-002
Kihei
$213.1K (FS)
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Short Sale. 2 bedroom condo in South Kihei complex with pool and spa across from beautiful Kamaole 3 Beach Park.
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Kamoa Views #208
Kihei
$251K (FS)
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Spacious one bedroom in Kamoa Views with private lanai overlooking lush tropical vegetation. Complex has a nice pool and barbeque area to enjoy the wonder Maui weather.
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Kai Malu 68A
Wailea
$1.195M (FS)
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This 3 bedroom 2.5 bath townhouse offers a second story master suite and attached two car garage. It features a gourmet kitchen with granite counter tops, top-of-the-line appliances and private outside lanai with barbeque. The spacious master-suite has amazing views, a private balcony, generous closet space, and a luxurious master bathroom.
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Vacant Land
393 Kualono Place
Wailea
$475K (FS)
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Exceptional vacant lot located at the end of a cul-de-sac in the premiere gated community of Wailea Pualani Estates. Build your dream home with ocean views from the second level.
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