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Homeowner Tips • August 21, 2023

File your Oahu homeowner exemption by September 30

by Lori Makiya

If you own and live in your home, you are eligible to apply for a homeowner exemption to save on your real property taxes. Starting with the upcoming 2024-2025 tax year, this home exemption increases from $100,000 to $120,000 for homeowners under the age of 65. This means that $120,000 is deducted from the assessed value of your property so you are taxed on the lower balance. For homeowners 65 years and older on or before June 30, 2023, the home exemption is $160,000 (up from $140,000).

I remind my clients to file for the homeowner exemption when they purchase their new home on Oahu, however there are many homeowners who have not filed for this tax saving benefit. If you haven’t taken advantage of this exemption, you have until September 30 to file online or via this form.

If you have already claimed your exemption, you don’t need to do so each year, unless you move. The exemption amounts will automatically increase when you reach the eligible age.

For more details, click here to go to the City & County of Honolulu Real Property Assessment Division.

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