Oahu Real Estate Taxes
Real Property Taxes For Oahu - Honolulu County
If you are looking to purchase Oahu real estate, you need the real property tax rates for Honolulu County. The entire island of Oahu is Honolulu County.
The other Hawaii counties are Maui, Hawaii and Kauai and there are different property tax rates for these counties.
Oahu real property taxes are among the lowest in the country. Real property taxes are higher on Maui, Kauai & The Big Island. See this Hawaii Property Tax Flyer, Courtesy of Title Guaranty Hawaii, for a complete breakdown of tax rates for Honolulu County and all other counties in the State of Hawaii.
Real Property Tax Exemptions
Many people are also eligible for Real Property Tax Exemptions on their Oahu real estate. The amount of the tax exemption depends on your age, income and how you use the property (personal residence or investment).
Currently, the regular owner-occupied exemption is $80,000. If you are 65 or older then the exemption goes up to $120,000. There are additional exemptions for persons over 75 in low-income households.
As mentioned, the Property Taxes for each County (Island) in Hawaii may Vary. See the Chart Below for property tax information for Maui, Kauai and the Big Island.
Real Property Conveyance Tax
There is also a Real Property Conveyance Tax, which typically is paid by the seller of Real Property, as part of his or her closing costs.
The amount of conveyance tax paid by the Seller will vary depending upon the purchase price of the property and what the Buyer of the property plans to do with the property (owner-occupied, resident or non-owner occupied, investor).
The current rate structure for property conveyance taxes:
| Price | Conveyance Tax | |
|---|---|---|
| Data current as of March 2018 | ||
| Value <$ 600,000 | .001 of Sale Price | |
| $600K < $1M | .002 of Sale Price | |
| $1M < $2M | .003 of Sale Price | |
| $2M < $4M | .005 of Sale Price | |
| $4M < $6M | .007 of Sale Price | |
| $6M < $10M | .009 of Sale Price | |
| Value >$10M | .010 of Sale Price | |
| Price | Conveyance Tax | |
|---|---|---|
| Data current as of March 2018 | ||
| Value <$ 600,000 | .0015 of Sale Price | |
| $600K < $1M | .0025 of Sale Price | |
| $1M < $2M | .0040 of Sale Price | |
| $2M < $4M | .0060 of Sale Price | |
| $4M < $6M | 0085 of Sale Price | |
| $6M < $10M | .0110 of Sale Price | |
| Value >$10M | .0125 of Sale Price | |
HARPTA/FIRPTA
HARPTA and FIRPTA are laws that require an escrow company to withold from a Seller of real property amounts that may be owed, respectively, due to state and local taxes. This is not a special or additional tax. If you do not owe capital gains tax on the sale of property, either these withholdings will not be done or you will receive a refund of the amounts withheld. These withholdings will apply, if at all, only to non-Hawaii residents and foreign sellers of Hawaii real property.
For more information, see HonoluluPropertyTax.com and RealPropertyHonolulu.com
