Below is a summary of a new Hawaii law regarding withholding of funds for the State of Hawaii Tax Collector.

Did you occupy the unit 2 of the last 5 years?  If not and unless you have received an exemption from the State of Hawaii Tax Collector, it appears that escrow at closing will be required to withhold 7.25% of the sales price if a sale on the property closes AFTER September 14, 2018.

 You should consult with your tax preparer or tax attorney regarding taxes.


Call me if you have any questions.