HI HCR170

Urges the City and County of Honolulu and the counties of Hawaii, Kauai, and Maui to implement an empty homes tax similar to Vancouver, British Columbia's vacancy tax to address affordable housing shortages.

Cites Hawaii's low property tax rate of approximately 0.28 percent and notes that about one-fourth of all housing in the State is owned by non-residents, benefiting real estate investors.

References Vancouver's empty homes tax results from 2017-2020, including 36 percent of vacant properties converted to occupied in 2020, a 26 percent reduction in vacant properties, and $86.6 million in revenues allocated to affordable housing.

Specifies that a similar tax would exempt principal residences, properties qualifying for exemptions, and homes rented for at least six months per year.

Directs transmission of certified copies to the Mayor and Council Chair of the City and County of Honolulu and to the Mayors and Council Chairs of the counties of Hawaii, Kauai, and Maui.