Kauai Board of REALTORS® Monthly
February 2021:
February 1, 2021
LETTER FROM KBR EXECUTIVE OFFICER, Karen Ono:
Aloha,
 
We encourage each of you to take the time during this legislative session to be aware of all the issues. A number of proposals are or have been introduced in the Federal, State and Local Government that will impact real estate and homeownership. Issues like the Eviction Moratoriums, Tax Increases, Flood Insurance, Shoreline Setbacks and more.
 
The Kauai Board of REALTORS Government Affairs committee has been actively monitoring the Agriculture Zoning Bill (#2804) and the Flood Plain Management Bill (#2816). The most recent Bills that passed council on January 27th include the Shoreline Setback (#2813, Draft 1) that extends the setback from 40 feet to 60 feet and adds restrictions on construction and renovations; Bill #2814 Residential Investor tax decreased the taxable market value for residential properties with no exemptions from $2 million to $1.3 million.  For more information go to the past County Council Meetings. https://www.kauai.gov/Webcast-Meetings

An update on the Shoreline Setback Ordinance will be presented via Zoom on Friday, February 12, 2020 by Ka'aina Hull.
 
Learn how a bill becomes a law by watching a recent presentation made to the Kauai Board of REALTORS by Deputy County Clerk Scott Sato.
 
NEW FLOOD INSURANCE REQUIREMENTSIf you have a Federally Backed Mortgage (this can include: second mortgages, Home Equity Loans, Reverse Mortgage, etc.) and your structure is encroaching within a Special Flood Hazard Area (any flood zone that begins with the letter A or V), then your lender will require flood insurance as a condition of your loan pursuant to Title 42 U.S.C. 4012a(b)(1). 


LETTER FROM KBR PRESIDENT, Martie Law:

Aloha to all,

I had, what I thought at the time, to be a unique experience last week. As I was driving to meet a new client for property management at their home in Kukuiula, I was on the phone with a homeless coordinator. Just think about that for a second. While driving to one of the wealthiest subdivisions on Kauai to pick up a new account, I was also simultaneously speaking with a homeless coordinator trying to figure out how to place a homeless-in-transition gentleman into one of my rentals. It occurred to me that I was potentially in que to represent the wealthiest and the poorest at the same time. It was surreal.

And then I started thinking…this is not unique at all. This is what our island has become; the most dramatic ends of the spectrum. I thought, no matter what, I will do my best for both.

Remember our Mission and Vision Statements: (Mission) Our mission is to elevate professionalism in our members and to advocate real property rights for all. (Vision) Our vision is to be a trusted source in the real estate industry for our members, our community and those that we serve.

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