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CONVEYANCE TAX (Chapter 247) - On
actual and full consideration paid for the transfer of realty, including leases
and subleases, a tax of 10¢ per $100 is imposed for conveyances under $600,000;
20¢ per $100 for conveyances between $600,000 and $1 million; and 30¢ per $100
for conveyances in excess of $1 million. Also
imposes a conveyance tax for condominiums or single family residences that do
not qualify for a homeowners=
exemption: 15¢ per $100 for properties valued up to $600,000; 25¢ per $100 for properties valued between $600,000 and $1
million; and 35¢
per $100 for properties valued at over $1 million.
Minimum tax on each transaction is $1.00. Certain exemptions are allowed.
Distribution: 35% to state general fund,
10% to the land conservation fund, 30% into the rental housing trust fund, and
25% into the natural area reserve fund.
SOURCE: Compiled by the Tax Foundation of Hawaii from the Hawaii Revised Statutes (1968), as amended, and Revised
Ordinances for various counties. Consult the statute, ordinance, rules, or regulations for specific cases or circumstances.
Last Revised: July 1, 2005
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