Maui’s 200,000 Property Tax Exemption

Maui’s 200,000 Property Tax Exemption

  • Chelsea Dimin
  • 10/14/22

Do You Own A Long-Term Rental Property On Maui?

Did you know that one of the new benefits of owning a long-term rental property on Maui is the long-term rental property tax exemption effective January 1, 2022? Properties that are renting for a minimum of 12-month lease terms and do not have a home exemption will be eligible for a $200,000 long-term rental exemption and will be classified as Long-term Rental.

Requirements To Apply:

1. The property must be occupied by the same tenant for a minimum of 12 consecutive months.
2. You must provide a copy of the signed lease agreement to the Maui County Property Tax Department.
3. You must submit the Long-term Rental Exemption Application form found under “Exemption Forms” at the Real Property Assessment Division website.

What If…

There is a main house and ohana rented long-term, but separately to different tenants on the same property? Then one exemption may be granted for the entire property for $200,000.
You already have a home exemption because you occupy a portion of the property and rent out a separate portion? Then you will be eligible for a $100,000 long-term rental exemption in addition to the home exemption, and your property will still be classified as Owner-Occupied.
A portion of the property is used for commercial purposes? Then the commercial portion will not be entitled to an exemption. Only the portion used exclusively for a long-term rental will be entitled to an exemption.
Want to see if your investment property pencils out to carry its own costs?
Many home buyers that have been priced out of the market are still in need of housing, increasing the demand for rental properties on Maui. Similar to the real estate market surge we are currently experiencing, the long-term rental rates continue to quickly rise. Find out if your investment property purchase will cover its own costs in rental income. Be sure to account for the new long-term rental property tax exemption.
Want to Know More?
Contact me if you want to request a proforma and estimated costs for owning an investment property on Maui. I am happy to share best practices for long-term rental ownership based on my 10+ years of local property management and real estate sales experience on Maui.
Chelsea Dimin

Chelsea Dimin

Realtor® Broker

About The Author

Chelsea Dimin stands at the pinnacle of Maui's luxury real estate, consistently ranking among the top 1% of agents in sales volume. Chelsea specializes in oceanfront property and vacation homes and has over 17 years of expertise in real estate, business development, and advertising sales.

Originally from Milwaukee, Wisconsin, Chelsea holds degrees in Journalism and Spanish from the University of Wisconsin Madison. Her career journey led her to Los Angeles in 2006, honing negotiation skills representing top brands in digital media and advertising sales. In 2010, she joined New York Magazine's digital publication,, as the West Coast Advertising Sales Account Executive. In 2014, Chelsea embraced Maui's allure, obtaining her real estate license and collaborating with a local developer. As a Realtor Salesperson, she played a key role in transforming vacation rental estates into profitable ventures, attracting a global clientele.

Acquiring her Broker license in 2017, Chelsea made history in January 2023, becoming the first female Realtor to list and sell a $32 million dollar home in Makena, as reported by the Wall Street Journal. Today, Chelsea guides buyers in realizing their Maui dream homes. Known for tenacity and creativity, she forges connections, assesses needs, and delivers strategic results. Chelsea's signature is creating opportunities, leveraging a global network for off-market deals and win-win negotiations.

Clients appreciate Chelsea's commitment to staying informed, providing updates on values, market trends, and recommendations. Beyond real estate, Chelsea enjoys an active lifestyle, engaging in surfing, yoga, barre classes, mountain biking, beach runs, jungle hikes, and waterfall adventures with her husband Tim and beloved pitbull, Lulu.

“My mission is to exceed your expectations so that you never hesitate to refer your friends, family or coworkers to me in the future.”

Work With Chelsea

Are you interested in buying or selling a home on Maui? Contact me to tap into my local knowledge and global connections. My mission is to exceed your expectations so that you never hesitate to refer your friends, family or coworkers to me in the future.

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