Oceanside approves cap and new limits on short-term vacation rentals

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• Here are the common occupant mistakes made in real estate
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• Mid-Rise vs. High-Rise Buildings: Which Apartment Is Right for You?
• Berkshire Hathaway to pay $250 million to settle real estate commission lawsuits
• Sold House Prices
• Oceanside approves cap and new limits on short-term vacation rentals
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The Council for Native Hawaiian Advancement, a nonprofit, estimates at least 1,500 households — or a quarter of those who lost their homes — have left since the August wildfire. Most people in Lahaina work for hotels, restaurants and tour companies and can’t afford $5,000 to $10,000 a month in rent, she said. Insurance Commissioner Ricardo Lara says the proposed reforms, which would not need legislative approval or to be signed by the governor, represent the biggest changes to the state’s insurance market since 1988.

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The Democrat was one of 47 House members who co-sponsored one version of legislation that would allow short-term rentals to be phased out. One objective is to give counties more power after a U.S. judge ruled in 2022 that Honolulu violated state law when it attempted to prohibit rentals for less than 90 days. Evslin said that decision left Hawaii’s counties with limited tools, such as property taxes, to control vacation rentals. Oceanside has approved a cap and other restrictions on short-term vacation rentals, primarily for neighborhoods in the coastal zone between the beach and Coast Highway. One housing advocate argues that just because a community allowed vacation rentals decades ago doesn’t mean it still needs to now. Oceanside has issued permits for 833 short-term rentals, both hosted and non-hosted, in its coastal zone and 378 outside it, according to a city staff report.

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The Oceanside City Council voted 4-1 Wednesday for the changes, with Councilmember Eric Joyce opposed. Joyce said the restrictions should be broader and include more areas with apartment buildings and condominiums. We zero in on the advantages and disadvantages of high- and mid-rise apartment buildings.

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In fact, Huntsville is topped only by Phoenix, Dallas and Houston among the metros with the most BTR homes under construction. At the opposite end of the spectrum, Denver, Sacramento, Riverside and Minneapolis bring up the bottom of the top 20, each of them with fewer than 1,000 BTR units under construction. “STRs have played a pivotal part in Oceanside’s economic success,” by offering affordable beach stays that make the area a visitors’ destination, said Susan “Sully” Sullivan, a real estate agent. Several people working for vacation rental management companies said the ordinance goes too far. Hosted rentals are properties where the owner lives on-site and can be more responsive to complaints about noise and other problems.

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Generally, long-term Oceanside residents, many wearing blue T-shirts, were in support, while owners of multiple properties and property managers, in green T-shirts, were opposed. Many of the new regulations are aimed at limiting “non-hosted” short-term rentals, or STRs. Non-hosted rentals are often owned by out-of-town corporations that may operate dozens of properties, some with as many as 10 bedrooms, without on-site supervision.

Approximately 27,500 build-to-rent (BTR) houses were completed last year, a number 75% greater than 2022. Sunbelt metros in the South, Southwest and Southeast saw the greatest construction, and accounted for almost one-third of all units built last year. Based on information from California Regional Multiple Listing Service, Inc. as of 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.

Oceanside approves cap and new limits on short-term vacation rentals

Critics revile them for inflating housing costs, upending neighborhoods and contributing to the forces pushing locals and Native Hawaiians to leave Hawaii for less expensive states. HONOLULU (AP) — Amy Chadwick spent years scrimping and saving as a single mother of two to buy a house in the town of Lahaina on the Hawaiian island of Maui. But after a devastating fire leveled Lahaina in August and reduced Chadwick’s home to white dust, the cheapest rental she and her now-husband could find for their family and dogs cost $10,000 a month. Even more striking, 41% of all BTR homes, or about 68,000 homes, were constructed in just the last half decade.

In 1992, Maui County explicitly allowed owners in these buildings to rent units for less than 180 days at a time even without short-term rental permits. Since November, activists have occupied the beach in front of Lahaina’s biggest hotels to push the mayor or governor to use their emergency powers to revoke this exemption. More than 50 people spoke on the issue at Wednesday’s council meeting, roughly split between support and opposition of the ordinance.

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The new rules will allow for rate increases that the company says will ensure they can pay customers’ claims in the event of a fire, according to the statement. RentCafe reports most of the 45,400 BTR homes currently being constructed will open their doors next year. After that, the pace of new completions is likely to moderate, the nationwide apartment listing service observed.

Chadwick, a fine-dining server, moved to Florida where she could stretch her homeowners insurance dollars. She’s worried Maui’s exorbitant rental prices, driven in part by vacation rentals that hog a limited housing supply, will hollow out her tight-knit town. The Aug. 8 wildfire killed 101 people and destroyed housing for 6,200 families, amplifying Maui’s already acute housing shortage and laying bare the enormous presence of vacation rentals in Lahaina. It reminded lawmakers that short-term rentals are an issue across Hawaii, prompting them to consider bills that would give counties the authority to phase them out. The blaze burned single family homes and apartments in and around downtown, which is the core of Lahaina’s residential housing. An analysis by the University of Hawaii Economic Research Organization found a relatively low 7.5% of units there were vacation rentals as of February 2023.

Courtney Lazo, a real estate agent who is part of Lahaina Strong, the group occupying Kaanapali Beach, said tourists can stay in her hometown now but many locals can’t. “This area in West Maui that is sort of like this resort apartment zone — that’s all north of Lahaina — it was never built to be local living,” Humiston said. Napili is where Chadwick thought she found a place to buy when she first went house hunting in 2016.

The testimony marks the first time a large property insurer has publicly promised a return to the market in the disaster-prone state if the new regulations are implemented. The North Port and Lakeland markets were the new markets with the greatest activity within the Sunshine State. In North Carolina, Raleigh is a fresh new BTR market, while in Georgia it is Savannah and in Michigan, Ann Arbor. Also, when any property with an STR permit in the R-1 zone is sold, the STR permit expires and can’t be renewed.

The largest number of new BTR homes last year were constructed in the Phoenix metro area, where more than 4,000 units were completed. In sizing up the numbers, RentCafe observed that the Covid-19 pandemic’s impact should not be underestimated. In the years before Covid turned our worlds upside down, an average 6,600 BTR houses were constructed annually nationwide. “We are a coalition of longtime residents (trying) to prevent corporate owners from turning family areas into commercial areas,” said Clifton Williams, representing the blue-shirt group Neighborhoods are for Neighbors.

Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

The explosive growth of the market, especially in the last three years, is evident in the following figures. Anyone prepared to argue there’s really nothing new under the sun in the U.S. housing market hasn’t glimpsed RentCafe’s annual Build-to-Rent Construction Report, out just last week. The niche comprised of single-family houses built expressly to be rented has established its fifth straight yearly record, with more residences than ever being constructed.