[QUOTE=Idusixtyning;3684168]Chinese investors have found that the real estate and rental market is extremely rewarding in Honolulu. I suspect that they're building these apartment/rooming houses masqueraded as homes to rent out rooms under the table. Then this pays for the mortgage while the property appreciates and accumulate equity. The property tax rate in Honolulu is very low compared to other states. The city should investigate if there are renters at these homes and see if the owners are paying the GET taxes for the rental income. Also increase the property tax if non-resident.[/QUOTE]Listen to Omelette, what he's saying is true. China spent $1 billion in Hawaii in 2017 alone and is scheduled to build two luxury hotels in Ko Olina worth over $1 billion. This is no joke and is happening on a global scale, not only in the US. If that isn't proof enough for you, how about 425 of the 435 Congressional districts in the US have Chinese investments in them. Do you think that's by accident? If you have influence in over half of the districts, you can influence many things, starting with who sits in Congress. Do a simple google search on Chinese political influence and get ready to be alarmed.
