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HomeMy WebLinkAboutCOM 0675.498 2022-202415ill 191 comm. �2 From: Agnes Repasi Sent: Thursday, August 29, 2024 9:04 PM To: Council Testimony Subject: Written testimony for bill 121 Written Testimony to the Hawaii County Policy Committee on the Vital Role of Short -Term Rentals on the Hi,19 Side.of the Island Aloha Chair and members of the Policy Committee, Thank you for the opportunity to present this written testimony. I am writing to express my deep concern about the current taxation and regulation of short-term rentals on the Hilo side of our beloved Island. As you are aware, short-term rentals are subject to a General Excise Tax, Transient Accommodations Tax, and the TAT imposed by the city, all totaling 18%. On top of that, third -party platforms, which are indispensable for securing bookings, take an additional 15-20% in fees. This leaves hosts with as little as 60% of the income generated from their rentals. For many families involved in short-term rentals, this income is not just supplemental —it's essential for their financial survival. The additional fees and potential restrictions pose a real threat to their ability to make ends meet. Without the income from short-term rentals, many families on the Hilo side would face severe financial hardship. Moreover, short-term rentals offer a unique and personal experience that many travelers seek. Unlike crowded hotels with extensive infrastructure, short-term rentals provide guests with an authentic, intimate connection to our island's culture and community. This not only enhances their experience but also encourages repeat visits and word-of-mouth referrals, which are crucial for our local economy. In conclusion, I urge you to consider the significant impact these taxes and regulations have on local families and the unique value that short-term rentals bring to our tourism industry. Further restrictions or increased fees could force many hosts out of business, harming both the community and our local economy. Mahalo for your time and consideration. Love & Peace Volcano Eco Retreat LLC Camm. Na �, Ref. To: Ref. 4ate �" , � .