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Market Analysis For Justin Vierra

Page 26

Conveyance Tax The State of Hawai’i imposes a tax on the conveyances or transfers of real property and interests in real property by deed, lease, sublease, an assignment of lease, or other document unless an exemption applies. (HRS §247-1) The tax imposed in the State of Hawai’i by section 247-1 shall be based on the actual and full consideration "total sales price"(whether cash or otherwise, including any promise, act, forbearance, property interest, value, gain, advantage, benefit, or profit), paid or to be paid for all sales of realty or any interest therein, that shall include any liens or encumbrances thereon at the time of sale, lease, sublease, assignment, transfer, or conveyance, and shall be at the following rates:

Scale #1

Scale #2

Applies to all transfers or conveyance of realty

Applies to sales of condominium or single-

or any interest therein, for properties with

family residence where the purchaser does

homeowners exemption. (increments of $100

not have a county homeowner's exemption.

of sale price will be added proportionately to

(increments of $100 of sale price will be

tax)

added proportionately to tax)

$0 > $600,000 = 10¢

$0 > $600,000 = 15¢

$600,000 > $1 Million = 20¢

$600,000 > $1 Million = 25¢

$1 Million > $2 Million = 30¢

$1 Million > $2 Million = 40¢

$2 Million > $4 Million = 50¢

$2 Million > $4 Million = 60¢

$4 Million > $6 Million = 70¢

$4 Million > $6 Million = 85¢

$6 Million > $10 Million = 90¢

$6 Million > $10 Million = $1.10

10 Million and Above = $1.00

10 Million and Above = $1.25

In Maui, the conveyance tax responsibility is typically paid by the seller

The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, HI 96753

Lifestyle Maui Seller's Guide | ©2022


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