NEWS FLASH AUG. 25, 2024 This is an update to our June News Flash, with a bit more information on the issues the Board of Directors has been encountering. On our site, if you are a member, you'll find the most recent minutes from our directors meeting (Aug. 9, 2024) along with a detailed analysis of the vacation rental ordinance the county is considering You'll also find, in our Documents section, the 2024 budget that reflect the 100 percent hike in insurance Kahana Reef was hit with earlier this summer. A couple of other notes on the STR (short-term rental) proposal: the Maui County Planning Commission in July recommended to the Maui Council the proposal be adopted, but the council won't be considering it until an economic study is completed some toward year's end. That study should, should, show the disastrous impacts should this policy be adopted. And on another note, KR seems to have gone through the torrid tropical storm Hone this month with no issues. E hana kākou (From June 2024:) If you're wondering what's going on with the (Maui) mayor's proposal to eliminate many short-term vacation rentals (STVRs) on the island, here is the letter sent out to owners earlier this month. Also, read the meeting minutes from the KR BOD last month where this topic is discussed extensively along with the recent insurance rate hikes. The minutes can be found in the Member's Area: Documents, along with the new KR Reserve Study, recent financial reports and updated insurance information, Aloha Kahana Reef Owners, As part of our update process regarding the Maui short term rental ban, the Board wanted to provide some resources and a few suggested talking points for you to help you engage with the Maui County Council regarding the Short-Term Rental discussions. We are continually seeing emotional reactions from the public and the council. It would behoove us to do our best to transition from an emotional plan to a rational plan of action. Continuing to spread information and taking action will be the key to retaining our property rights. The hearing is less than a month away. Our strength will likely come in numbers. Please tell all your family and friends that are supported by STR’s to get involved. There are over 7,000 units at risk of losing their right to be short-term rentals. Many jobs are at risk as will. These include but are not limited to cleaners, maintenance providers, property managers, plumbers, electricians, wedding planners, excursion companies, etc. On June 25th the Maui Planning Commission meetings begin. You can follow progress on the Maui Vacation Rental Association website (linked below). However, the best and most important thing you can do is call in and testify and encourage the job providers above to contribute to the discussion as well. Please spread the word and help get this crippling bill killed. Some of these alliances will also be filing legal action but that isn’t the best way to fight this. Airbnb and VRBO are engaged as well. Proactive testimony on the front end is better, cheaper and faster. Legal action could last for years. Below are a few resources and facts for you. Paul Brewbakers fiscal impact is worth mentioning in this email (the full text is linked in the dropbox below). Brewbaker’s white paper, which was revised in November 2022, he concluded that the “hypothetical economic impacts” to Maui County would be the loss of 14,126 jobs, and annual reductions of $1.67 billion in tourism money, $747.7 million in employee earnings and $137.6 million in tax revenue. Short-term rentals contribute by far the largest chunk of the county’s property tax revenue at 42%, which is estimated to be $246.3 million for fiscal year 2025, which begins July 1. We encourage you to get involved and join in support of these organizations. Mid-Term and Short-Term Rental Alliance Maui Vacation Rental Association Facebook Group: STR’s Aren’t the Problem Below is a link to a Dropbox with two papers. First is Paul Brewbaker’s,(mentioned above) He is a noted economist in Hawaii for many years. The second is a paper from Maui Vacation Rental Association and their discussion with the mayor. Dropbox Link to Resources The board is committed to keeping you informed as this process evolves. Sincerely, Board of Directors NEWS FLASH March 15, 2024 Our new Resident Manager, Danny Maxwell, started Jan. 1, 2024. Danny has been managing other properties in West Maui for the past decade or so and has extensive experience in areas such as construction and landscaping that quickly have been put to use at KR! More from Danny (his complete report on what he's accomplished in his first few months) can be found in the "Documents" Members' Only section on this site. Our property manager, Krista Barresi of JS Property Management, has been keeping us abreast of legislative proposals regarding vacation rentals, including SB SB 2919 which would put a cap or hase out rentals. A great site for news about legislative proposals and housing issues is Grassroot Institute of Hawaii. To get on their mailing list contact them at Grassroot Institute of Hawaii