A proposed county bill would phase out some 7,000 short-term rental units.
A proposal to phase out 7,000 short-term rentals in Maui already seems to be influencing the real estate market, with closings on condominium sales dropping by “double-digit percentages” since the mayor announced the plan. In March 2024, Maui County saw 93 condo sales; in July, that number dropped to 64, reports Brian Perry in Maui Now.
The bill would ban short-term rentals as an approved use in apartment districts, which would affect roughly half of the city’s STR listings. In May, Governor Josh Green signed a bill that grants Hawai’i counties power to set their own regulations and zoning laws for short-term rentals.
“Although too early to declare a long-term trend, the downturn could be an early sign of a cooling off in Maui’s hot real estate market that has put purchases of homes and condominiums beyond the reach of most long-term island residents.” However, condo prices only went down by 1.3 percent over three months compared to the previous year, while single-family home prices rose by 11.2 percent over three months.
According to Realtors Association of Maui President Lynette Pendergast, STR rules are just one part of a broader picture that includes interest rates and high home prices.
Maui Mayor Richard Bissen said, “These are desirable trends for local housing affordability, and we expect that these trends will intensify if the County Council approves the phaseout, making it cheaper for local residents and long-term rental landlords to buy these units.”
FULL STORY: Condo closings fall in wake of short-term rental phase-out bill announcement (Hawaii)
Spain Moves to Regulate Short-Term Rentals
Calls for regulation at the national level have prompted lawmakers to consider limiting tourist rentals amidst a growing housing crisis.
How Much Are Short-Term Rentals to Blame for the Housing Crisis?
Whether and how deeply Airbnb and other short-term rentals affect housing costs depends largely on local conditions and economies.
How Short-Term Rental Taxes Can Help Cities
If properly regulated and taxed, the STR sector can generate millions in tax revenue.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
Test News Post 1
This is a summary
Test News Headline 46
Test for the image on the front page.
Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service