Maui Council Budgets $300,000 To Study Impacts of Eliminating 7,000 Vacation Rentals

6/4/2024

At a recent Maui County Council meeting, a budget amendment passed that moves $300,000 originally earmarked for the Maui Food Bank to a new short-term rental (STR) study on the impact of Mayor Richard Bissen’s recent proposal to permanently eliminate 7,000 STR units by Jan. 1, 2026. Proponents of the proposal say the need for long-term housing on Maui, which was exacerbated by the Aug. 8 fires that displaced about 13,000 people, outweighs the consequences. But real estate agent Jeremy Stice, president of the Maui Vacation Rental Association, argues the impacts would be disastrous and cripple the economy. Economist Paul Brewbaker conducted an analysis of such a housing transition even before the fires for the Realtors Association of Maui. He found that the likely loss of thousands of jobs is just one of the negative impacts that would occur if that number of STRs is taken off the market.

Honolulu Civil Beat (05/31/24) Cammy Clark