Letter: Proposed Maui STR ban a disaster in the making
Maui Mayor Richard Bissen’s proposal to eliminate short-term rentals is ill-conceived. While his concern regarding more housing options for local families is understandable, this is not the way to achieve it. In fact, if this proposal becomes law it will result in an economic disaster for the county.
A large portion of these properties will certainly not be affordable at market prices and most will have hefty HOA dues in addition to mortgages. The notion that this will help local families is just not true. It also may have a chilling effect on tourism.
Hawaii economist Paul Brewbaker calculates that there will be 33% fewer tourists and 14,000 jobs lost. He even referred to Bissen’s proposal as a “slow motion train wreck.” I don’t think he is overstating the impact this could have on the Maui economy.
Steve Alumbaugh
Wailuku, Maui
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