The County of Maui has announced new property tax rates for the 2024/2025 fiscal year. Rates went up in a number of different categories to address both the property taxes lost and the significant additional expenses incurred due to the 2023 fires. The bulk of the increases were focused on second homes and vacation rental condos. The only homeowner rate that increased was for homes that are assessed for more than $3,000,000.
Maui 2024/2025 Property Tax Rates
Here are the updated rates for Maui County in 2024/2025. 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 $1.90 now $1.80
- Tier 2: $1,000,001 to $3,000,000 Unchanged $2.00
- Tier 3: more than $3,000,000 Formerly $2.75 now $3.25
Non Owner Occupied
- Tier 1: up to $1,000,000 formerly $5.85 now $5.87
- Tier 2: $1,000,001 to $4,500,000 formerly $8.00 now $8.50
- Tier 3: more than $4,500,000 formerly $12.50 now $14.00
Apartment
- Unchanged $3.50
Hotel and Resort
- Unchanged $11.75
Timeshare
- Unchanged $14.60
Short-Term Rental
- Tier 1: up to $1,000,000 formerly $11.85 now $12.50
- Tier 2: $1,000,001 to $3,000,000 formerly $11.85 now $13.50
- Tier 3: more than $3,000,000 formerly $11.85 now $15.00
Long-Term Rental
- Tier 1: up to $1,000,000 Unchanged $3.00
- Tier 2: $1,000,001 to $3,000,000 Unchanged $5.00
- Tier 3: more than $3,000,000 Unchanged $8.00
Agricultural
- Unchanged $5.74
Conservation
- Unchanged $6.43
Commercial
- Unchanged $6.05
Industrial
- Unchanged $7.05
Commercial Residential
Prior to this year, there were no tiers for commercial residential. There are now three price tiers. The tiers are the same as other property tax classifications that use tiers.
- Tier 1: up to $1,000,000 formerly $4.50 now $4.00
- Tier 2: $1,000,001 to $3,000,000 formerly $4.50 now $5.00
- Tier 3: more than $3,000,000 formerly $4.50 now $8.00
Check out the county’s description of different property type classifications if there is any confusion on what category your current property or future property might fit into. If you are relocating to the island and intend to use the home as your primary residence, please pay attention to eligibility for the homeowner tax classification.
Maui Homeowner and Long Term Rental Exemptions
If you have a primary residence on Maui or own a property that you rent long term, you may be eligible to reduce your tax bill. Under the homeowner (primary residence) exemption, residents are eligible for a $200,000 reduction on their assessed value. The long term rental exemption also provides a $200,000 reduction on the assessed value if your tenant has a year lease or longer. If you have a long term rental on the same property as your primary residence, you may be eligible for a $300,000 total reduction on your assessed value.
The deadline to file for the homeowner or long term rental exemptions for this coming fiscal year passed. If you file by the end of 2024, you would be eligible for the exemption and tax rate for the 2025/2026 fiscal year. Here is the link to the Long Term Rental Exemption and the Home Owner Exemption forms. As noted above, the rules for eligibility for the homeowner exemption can be confusing. It is worth reading the county Exemption FAQ to better understand eligibility requirements.
Maui Property Tax Notable Dates
The new rates go into effect at the start of the new fiscal year on July 1st, 2024. Property taxes are due in two separate installments. The first installment is due in August 2024 with the second installment in February 2024. Owners should have received notification of their new assessed values in March of 2024. Anecdotally, the county increased assessed values for a significant number of properties around the island. In some cases, the increase in assessments was substantial.
