Hawaii HB1213 revises the tax rates for the sale and lease of residential real property based on property value.

Hawaii HB1213 amends the tax rates for the sale and lease of residential real property. For sales, the tax rate varies from 15 cents to $1 per $100 based on the property's value. For leases with a term of five years or more, the tax rate also varies from 10 cents to $1 per $100, depending on the property's value. The bill also imposes a $300 per $100 tax for properties sold to buyers who have not filed an income tax return in Hawaii within the preceding four years. The changes take effect on January 1, 2026.

Hawaii HB1213 revises the tax rates for the sale and lease of residential real property based on property value.

Hawaii HB1213 amends the tax rates for the sale and lease of residential real property. For sales, the tax rate varies from 15 cents to $1 per $100 based on the property's value. For leases with a term of five years or more, the tax rate also varies from 10 cents to $1 per $100, depending on the property's value. The bill also imposes a $300 per $100 tax for properties sold to buyers who have not filed an income tax return in Hawaii within the preceding four years. The changes take effect on January 1, 2026.