You're Oahu & Maui Real Estate Professional: Hawaii Property Tax Information

Hawaii Property Tax Information

In the State of Hawaii, there are 4 counties and each county has different tax rates and exemptions.  The tax rates are calculated on the "assessed" value of the property.  Real property is re-assessed each year.   Below is information for the counties of Honolulu (Oahu) and Maui.

Honolulu Real Property Tax

Taxes are Due August 20 and February 20
Tax Year begins July 1
Exemptions, including Homeowner Exemptions must be filed by September 30 to take affect by July
Homeowner Exemption is $80,000
For 65 and over Exemption is $120,000 (only 1 owner has to be over 65)
There is also an additional exemption for low income families making less than $50,000 per year and for homeowners 75 and over 

Maui Real Property Tax

Taxes are Due August 20 and February 20
Tax Year begins July 1
Exemptions must be filed by December 31 to take affect July
Homeowner Exemption is $300,000

Note:  For Homeowner Exemptions:

For purposes of this section, "real property owned and occupied only as a principal home" means occupancy of a home in the County with the intent to reside in the County. Intent to reside in the County may be evidenced by, but not limited to, the following:

1.   Occupancy of a home in the County for more than tow hundred seventy calendar days of a calendar year;

2.   Registering to vote in the County;

3.   Being stationed in the County under military orders of the United States;

4.   Filing of an income tax return as a resident of the State of Hawaii with a reported address in the County; or

5.   A mailing address consistent with the subject property.

The following lists the different tax rates for each county.  Also, notice that there is a different tax rate for residential property, vacant land, second home, resort property, etc.

To Calculate Real Property Tax

The property tax on a $1,250,000 residence in Honolulu, which is a primary residence, the calculation is as follows:

• $1,250,000 assessed value
  -     80,000 exemption
  -------------
  $1,170,000 tax basis
  /       1,000
  -------------
  $       1170
  x        3.42 rate
  ------------
  $     4,001 per year