HI HB148

Establishes a 3% conveyance tax surcharge on the transfer or conveyance of prolonged vacant residential property in Hawaii.

Defines "prolonged vacant property" as real property that has been vacant for 180 days or more in a calendar year.

Surcharge applies to all transfers or conveyances including liens or encumbrances, with the same exemptions as existing conveyance tax under section 247-3.

Designed to disincentivize residential property speculation and encourage conversion of vacant units to rental use by making investment property holding more costly.

Takes effect July 1, 2023.