Hawaii SB1214 imposes a surcharge on vacant residential real property to recover lost funds from unoccupied second homes.
Hawaii SB1214 establishes a surcharge on vacant residential real property to address the inequity where vacant homes benefit from public infrastructure without contributing proportionally to the local economy. Owners of residential real property not used as their primary residence must apply for a license and pay the surcharge. The surcharge is calculated based on the average annual rental value and potential general excise tax from typical household spending. Exemptions include properties vacant for specific reasons like military deployment or major renovations.
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