HB 1707 Summary

• Requires nonresident owners of residential single-family dwellings, apartments, or townhouses who rent property as transient accommodations for 30 days or less to use a licensed real estate broker or salesperson.

• Real estate brokers and salespersons authorized to collect rent on behalf of nonresident owners must comply with tax collection and reporting requirements under existing sections 237-30.5, 237D-6, and 237D-8.5.

• Nonresident owners who fail to comply must be notified in writing by the department of taxation with a 7-day period to correct the violation or face penalties.

• Nonresident owners in continued noncompliance after 7 days are subject to fines of up to $1,000 per day for each day of noncompliance.

• Defines "nonresident owner" as an owner of rental property in Hawaii who resides on a different island or out-of-state from the property; takes effect January 1, 3000.