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Grassroot backs proposal to study economic impact of Hawaii Island STRs

The following testimony was submitted by the Grassroot Institute of Hawaii for consideration by the Hawai‘i County Council’s Committee on Governmental Operations and External Affairs on July 9, 2024.
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July 9, 2024, 2:30 p.m.
Hawai‘i County Building

To: Hawai‘i County Council, Committee on Governmental Operations and External Affairs
      Cindy Evans, Chair
      Sue Lee Loy, Vice-Chair

From: Joe Kent, Executive Vice President
           Grassroot Institute of Hawaii

RE: Resolution 556-24 — A RESOLUTION REQUESTING THE DEPARTMENT OF RESEARCH AND DEVELOPMENT TO PROCURE A COMPREHENSIVE STUDY ON THE ECONOMIC AND FISCAL IMPACTS OF THE TRANSIENT ACCOMMODATION RENTAL INDUSTRY IN HAWAI‘I COUNTY

Aloha Chair Evans, Vice-Chair Lee Loy and other members of the Committee,

The Grassroot Institute of Hawaii would like to offer its support for Resolution 556-24, which would request the Hawai‘i Department of Research and Development to study the economic effects of short-term rentals in Hawai‘i County.

Because the County is considering a new regulatory framework for short-term rentals, it would be wise to gather necessary information — such as job, wage, income and housing-related statistics — before acting on the proposed new rules.

Several studies on short-term rentals in Hawaii have indicated they provide relatively large numbers of jobs and substantial tax revenues for the state and counties.[1]

Thank you for the opportunity to testify.

Joe Kent, Executive Vice President
Grassroot Institute of Hawaii
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[1]  “State of Hawai‘i and Maui Economic and Fiscal Impacts of the Short-Term Rental Industry,” prepared by Kloninger & Sims Consulting LLC for the Travel Technology Association, June 12, 2024; and “Hawaii’s Home and Vacation Rental Market: Impact and Outlook,” prepared for the Hawaii Tourism Authority by JLL’s Hotels & Hospitality Group, April 20, 2020.

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