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Bill

Bill

SB 3031

RELATING TO THE CONVEYANCE TAX.

2026 Regular Session

Hawaii SB 3031 proposes modifications to the state's conveyance tax on real property transfers, currently under committee review for potential impacts on housing costs and state revenue.

The committee(s) on WLA has scheduled a public hearing on 02-06-26 1:00PM; CR 224 & Videoconference.
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Bill Summary · SB 3031

Legislative bill overview

SB 3031 addresses Hawaii's conveyance tax, which is a state tax levied on the transfer of real property. The bill is currently in early stages of the legislative process, having just passed first reading and been referred to the Water, Land & Agriculture (WLA) and Ways & Means (WAM) committees. The specific provisions and proposed changes are not detailed in the available action history.

Why this is important

Conveyance taxes directly affect real estate transactions and housing affordability, influencing property sales costs for buyers and sellers throughout Hawaii. Changes to this tax could impact the state's revenue, real estate market dynamics, and housing accessibility in an already expensive state.

Potential points of contention

  • Housing affordability impact: Depending on whether the tax is increased or decreased, it could either strain homebuyers further or reduce state revenue needed for services
  • Market competitiveness: Higher conveyance taxes may discourage property transactions and investment, while lower taxes could increase demand and property values
  • Revenue implications: Modifications to this tax affect state budget allocations and which taxpayers ultimately bear the burden of state funding needs

Compiled from official sources — confirm details with the bill’s official record.

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