If you purchased a new home in the past 12 months, you need to apply for a Homeowner's Exemption through the City & County of Honolulu.
The form MUST be turned in by September 30.
What does a Homeowner's Exemption do for you?
1. It reduces the tax-assessed value of your home by $80,000 ($120,000 if you are 65 or over).
2. It ensures you pay property tax at the "Residential" rate ($3.50 for every $1,000 in assessed value), which is the lowest tax rate possible.
If you do NOT have a Homeowner's Exemption on your primary residence, you will be taxed at the "Residential A" tax rate.
"Residential A" properties, which are typically investment properties or second homes, are taxed at a higher rate: $4.50 for every $1,000 of assessed value up to the for the first $1,000,0000 and then $9.00 for every $1,000 in excess of $1,000,000.
As you can see, it pays to have a Homeowner's Exemption! The application form is available here.
For more information on the topic, go to the City & County of Honolulu Real Property Assessment Division website.