Hawaii HB1918 amends real property conveyance tax to include transfers of controlling interests in business entities.

Hawaii HB1918 amends the real property conveyance tax to include transfers of controlling interests in business entities. The tax applies to transfers or acquisitions of controlling interests in entities with real property in Hawaii, unless certain exemptions apply. The bill defines "controlling interest" and specifies exemptions, including transfers to the United States or Hawaii government, certain family transfers, and more. The tax applies at the lowest rate for specific types of transfers, regardless of property value. The changes take effect on July 1, 2026.

Hawaii HB1918 amends real property conveyance tax to include transfers of controlling interests in business entities.

Hawaii HB1918 amends the real property conveyance tax to include transfers of controlling interests in business entities. The tax applies to transfers or acquisitions of controlling interests in entities with real property in Hawaii, unless certain exemptions apply. The bill defines "controlling interest" and specifies exemptions, including transfers to the United States or Hawaii government, certain family transfers, and more. The tax applies at the lowest rate for specific types of transfers, regardless of property value. The changes take effect on July 1, 2026.