2022/2023 Maui Property Tax Rates

2022/2023 maui property tax rates
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Understanding property tax rates is crucial for anyone looking to buy, sell, or own real estate in Maui.

These rates can significantly impact your overall costs and profitability as a property owner or investor.

Stay informed about the latest tax rates to make informed decisions and plan your real estate strategies effectively.

Updated County Tax Rates for the New Fiscal Year and New Tax Classifications

On May 13, the Maui County Council approved new property tax rates for the upcoming fiscal year. There are a some particularly notable changes.

The new rates decrease tax rates for owner occupied properties and apartments while significantly increasing rates on non owner occupied properties. Rates for the Short-Term Rental, Agricultural, Industrial and commercial classification also changed.

Another notable change for the coming fiscal year is the creation of a new long-term rental category. This is a lower tax rate category meant to incentivize more long term rentals.

The county council created this classification last fall but this is the first fiscal year it will be in effect. Owners who qualify for this classification also get an exemption that reduces their assessed value by $200,000.

One last note, there was some modification to the tier system first implemented in the 2020/2021 fiscal year. For certain categories of property, this system created three different tiers of tax rates based on the assessed value of properties.

The tier system was implemented for the homeowner, short-term rental and non-owner occupied classifications. The new long-term rental category is also part of the the tier system.

Previously, tier 1 was for properties assessed up to $800,000. Tier 1 is now for properties up to $1,000,000. Tier 2 was for places assessed between $800,001 to $1,500,000.

The new tier 2 is $1,000,001 to $3,000,000 for owner occupied, short-term rental and long-term rental. The new tier 2 for non owner-occupied is $1,000,001 to $4,500,000.

The old tier 3 was for properties assessed for more than $1,500,000. The new tier 3 is more than $3,000,000 for owner-occupied, short-term rental and long-term rental. The tier 3 for non owner occupied properties is more than $4,500,000.

2022/2023 Maui County Property Tax Rates

Here are the updated rates for this coming fiscal year. If there is any change in rates, last years rates are noted for reference. All rates shown below are per $1,000 of assessed value.

Owner Occupied:

      • Tier 1: up to $1,000,000 Formerly $2.41 now $2.00

      • Tier 2: $1,000,001 to $3,000,000 Formerly $2.51 now $2.10

      • Tier 3: more than $3,000,000 Unchanged $2.71

    Non Owner Occupied:

        • Tier 1: up to $1,000,000 Formerly $5.45 now $5.85

        • Tier 2: $1,000,001 to $4,500,000 Formerly $6.05 now $8.00

        • Tier 3: more than $4,500,000 Formerly $8.00 now $12.50

      Apartment:

          • Formerly $5.55 now $3.50

        Hotel and Resort:

            • Unchanged $11.75

          Timeshare:

              • Unchanged $14.60

            Short-Term Rental:

                • Tier 1: up to $1,000,000 Formerly $11.11 now $11.85

                • Tier 2: $1,000,001 to $3,000,000 Formerly $11.15 now $11.85

                • Tier 3: more than $3,000,000 Formerly $11.20 now $11.85

              Long-Term Rental:

                  • Tier 1: up to $1,000,000 New Class $3.00

                  • Tier 2: $1,000,001 to $3,000,000 New Class $5.00

                  • Tier 3: more than $3,000,000 New Class $8.00

                Agricultural:

                    • Formerly $5.94 now $5.74

                  Conservation:

                      • Unchanged $6.43

                    Commercial:

                        • Formerly $6.29 now $6.05

                      Industrial:

                          • Formerly $7.20 now $7.05

                        Commercial Residential:

                            • Unchanged $4.50

                          About Maui Property Taxes

                          The new rates go into effect at the start of the new fiscal year on July 1st, 2022. Property taxes are due in two separate installments.

                          The first installment is due in August 2022 with the second installment in February 2023. Owners should have received notification of their new assessed values in March of 2022.

                          Homeowner and Long Term Rental Exemptions

                          The deadline to file for the homeowner or long term rental exemptions and classifications passed. If you file by the end of 2022, you would be eligible for the exemption and tax rate for the 2023/24 fiscal year.

                          Here is the link to the Long Term Rental Exemption and the Home Owner Exemption forms.

                          The eligibility for the homeowner exemption can be confusing. It is worth reading the county Exemption FAQ to better understand eligibility requirements.

                          Check out the county’s explanation for different property type classifications if there is any confusion on what category your current property or future property might fit into. 

                          Contact The Maui Real Estate Team for assistance buying or selling Maui property.

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