Hawaii enacted new legislation that will protect local homebuyers by cracking down on short-term vacation rentals such as Airbnb and Vrbo.
Last week, Gov. Josh Green signed legislation that will make it easier for local governments to reform housing rules in order to limit the amount of short-term vacation rentals in a state. In pledging support for the bill, Green said the rentals are “illegal” and “contribute to skyrocketing housing costs.”
As Green pointed out, vacation rentals such as Airbnb and Vrbo have been a significant contributor to the increase in housing costs, and nowhere has that had more devastating effects than on the island of Maui, where wildfires destroyed more than $5 billion in property and displaced thousands of people last year.
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