HARPTA & FIRPTA
harpta
HARPTA stands for Hawaii Real Property Tax Act. It is a law, not a tax, a common misunderstanding. Sale of Hawaii Real Estate by a Non-Hawaii resident is subject to a Hawaii State Tax. The tax liability belongs to the seller, and 7.25% of the total sales price will be withheld and submitted to the State of Hawaii Department of Taxation.
HARPTA - STATE OF HAWAII DEPARTMENT OF TAXATION:
HTTPS://WWW.HAWAII.GOV/TAX
OAHU (808) 587-4242
MAUI (808) 984-8500
KAUAI: (808) 274-3456
BIG ISLAND (808) 974-632
firpta
FIRPTA stands for Foreign Investment in Real Property Tax Act. It is a law, not a tax, a common misunderstanding. Sale of United States property by a foreign person is subject to a federal withholding. The tax liability belongs to the seller, and 15% of the total sales price will be withheld and remitted to the IRS
Exceptions Apply: please contact a real property tax professional for further advice and guidance.