2024-04-15 Bill 121Theresa Henk - Laserfiche WebLink

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From: Theresa Henk To: W PCtesti mono Subject: Voicing opposition to Bill 121 Date: Monday,April 15,2024 5:13:05 PM Subject: The Economic Impact of Short-Term Rentals in Hawaii To whom it may concern, I trust this letter finds you well. I am reaching out to shed light on the intricate economic ecosystem that short-term rental businesses, such as mine, foster within our local community. Beyond the direct benefits to homeowners/residents of Hawaii like myself,the ripple effect of our operations extends far and wide,touching the lives and livelihoods of numerous individuals and businesses across Hawaii. First and foremost, the economic impact of short-term rentals goes beyond simple calculations. If our business were no longer allowed to host STR or was subjected to heavy fees/taxation, the immediate repercussions would be felt by my family and the families of the four individuals we employ. We live in a low income area where the average job pays $19 an hour. We pay our employees $30-$40 an hour. The prospect of losing our source of income or that new legislation would further burden us with fees,regulations, and taxes is extremely stressful because any further economic interference by the state would jeopardize our ability to meet mortgage obligations and also create financial instability for those we employ, ironically leaving us at risk and expose us to the same affordable housing problem you are trying to mitigate. The risk that this bill creates for my business extends far beyond our immediate circle. Local tour guides rely on our business for clientele, and massage practitioners benefit from employment opportunities created by our guests. The restaurants frequented by our visitors, along with a myriad of other local businesses we rely on—from solar companies to gas providers, pest control specialists to woodworkers—all derive a portion of their revenue from servicing our operations. Furthermore, our business also supports workers in other sectors. Whether it's employees at Target, cost you less, gas stations, or hardware stores,the flow of business generated by our short term rental expenditures reverberates throughout the community, sustaining jobs and bolstering the local economy.