What do you need to pay if you rent out a unit in Hawaii?
Price may vary from one caretaker or company to another but here we will show you the most common scenarios
Long term rental (more than a 6-month rental)
* Usually it is 10% on the gross rent
* GE reporting can be done by the owner which is free online (if due to language difficulty, you can ask your manager to report and usually there is a fee associated with it)
Short Term Rental: (less than 6-month including daily rental)
* Hotel managing your unit it is likely 50% of the rent + some marketing cost (each hotel may be different)
* 3rd party managing: usually 20-25% is charged on gross rent excluding the TAT and GET portion.
* Cleaning fee is included in the gross rent and will need to pay GET
* Transient Accommodation Tax and General Exercise Tax are to be paid Quarterly, Semiannually, or monthly depending on the gross income (usually self-reporting is free but if your managing agent files it will cost some service fee) If you have an accountant, he or she may also be able to help you with your reporting.
* Some management agent or company can help you report those taxes but there might be service fee for it.