Maui Blog
Maui Real Estate-Illegal Vacation Rentals
Maui real estate buyers should use caution when relying on rental cash flow
Mayor Charmaine Tavares announced earlier this year that the County would be enforcing existing transient vacation rental (TVR) laws effective January 1, 2008 ending significant public debate regarding this issue. The Maui County Department of Planning estimates that there are 1,100 illegal TVRs currently operating within Maui County. Fines up to $1,000 per day could be assessed. Many of these illegal TVRs are operating in South Maui, particularly in the Maui Meadows and Kihei areas. Buyers of Maui Real Estate should be particularly careful when buying property based on projected rental cash flow without verifying the legality of the underlying rental activity.
Refer to the January 17, 2008 Maui Weekly article entitled, “Illegal TVRs Under Pressure” posted to our website.
Please contact us if we can assist you with your real estate needs.
Bob & Marty Sutor
Thursday, January 17, 2008
