HI HCR150

Requests the Department of Taxation to establish a task force to research and report on a general excise tax surcharge on vacant residential properties, similar to the proposal in House Bill No. 489 of 2025.

Task force composition includes the Director of Taxation (Chairperson), Director of Business, Economic Development, and Tourism, Executive Director of the Hawaii Housing Finance and Development Corporation, and other individuals as requested by the Chairperson.

Task force must submit findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the Regular Session of 2026.

Cites concerns that vacant second homes reduce housing availability, raise property values and rents for residents, remove properties from the rental market, and require taxpayers to subsidize private investments without economic returns.

Proposes that a vacant homes surcharge could incentivize owners to occupy or rent properties, increase affordable housing inventory, and generate revenue for rental assistance and housing programs.