If you live in your home or condo as your primary residence in Honolulu County, you need to claim your Home Exemption. This tax break will save you thousands of dollars in property taxes.
Homestead Exemption is a way to minimize property taxes for homeowners and provides an exemption from taxes on the home. It also protects the value of residents' homes from property taxes, creditors, and any circumstances that arise from the death of the homeowner’s spouse. The homestead tax exemption can provide surviving spouses with ongoing property tax relief, which is done on a graduated scale so that homes with lower assessed values benefit the most. The homestead exemption is helpful since it is designed to provide both physical shelter and financial protection, which can block the forced sale of a primary residence.
Highlights // What You Need To Know
September 30th, 2023 is the deadline to file a claim for a home owner tax exemption.
Individuals with Hansen’s Disease, totally disabled veterans and property owners who are deaf, blind or fully disabled may also apply for an exemption or other tax relief program by the same Sept. 30 deadline
Exemptions go into effect in the tax year 2024-2025.
Bill 40, signed into law by Honolulu Mayor, Rick Blangiardi, on July 9th, 2023, increased the exemption amount from $100,000 to $120,000 for homeowners under the age of 65 and from $140,000 to $160,000 for those over the age of 65 (must be 65yrs or older on or before 6/30 preceding the tax year for which the exemption is claimed).
Who Is Eligible for a Homestead Exemption?
There are a few ways to be eligible for a Homestead Exemption, but they differ between each state. You are entitled to the home exemption if:
You own and occupy the property as your principal home ("real property owned and occupied as The owner's principal home" means occupancy of a home in the city with the intent to reside in the city. Intent to reside in the city may be evidenced by, but not limited to, the following indicia: occupancy of a home in the city for more than 270 calendar days of a calendar year; registering to vote in the city; being stationed in the city under military orders of the United States; and filing of an income tax return as a resident of the State of Hawaii, with a reported address in the city;
Your ownership is recorded at the Bureau of Conveyances, State Department of Land and Natural Resources, in Honolulu on or before September 30 preceding the tax year for which you claim the exemption. In the case of a lease, the document must indicate that the lessee has a lease for residential purposes for a term of five years or more and will pay all property taxes;
You file a claim for home exemption online or fill out Form (E-8-10.3) with the Real Property Assessment Division on or before September 30 preceding the tax year for which you claim the exemption.
Property held in a company name, such as an LLC, may not receive a home exemption. Call the Real Property Assessment Division office at (808) 768-3799 for more information.
How Do I Apply for a Homestead Exemption? It’s very simple!
Applications may be submitted by mail, online, or in person at either of the two real property assessment division locations or at any satellite city hall.
You can file online HERE or visit:
Honolulu Office
842 Bethel Street, Basement
Honolulu, HI 96813
PH: (808) 768-3799
Kapolei Office
1000 Uluohia Street, #206
Kapolei, HI 96707
PH: (808) 768-3799
Make sure to file everything before the deadline, September 30th, 2023.
Learn More about Homestead Exemptions:
