Tiffany Davies
Hawaii
Cell: (808) 387-4140
Email: tiffany.davies@ipx1031.com
Tiffany’s Bio
Tiffany’s Bio
Tiffany brings over two decades of local Hawaii and California based 1031 Exchange, escrow, and real estate experience to IPX1031 Hawaii. Prior to joining Investment Property Exchange Services, Inc., Tiffany excelled as a sales and marketing representative for Fidelity National Title and Escrow of Hawaii and Chicago Title in California.
She has been an active member of many organizations including Honolulu Association of Realtors, the Realtors Association of Maui, CCIM, NAIOP and the Federation of Exchange Accommodators. As IPX1031 Vice President and Regional Account Executive, she offers continuing education classes throughout the state of Hawaii to investors, real estate agents/brokers, attorneys, accountants and financial planners.
Tiffany’s local expertise in 1031 Exchange rules and 1031 regulations for Delayed, Simultaneous, Reverse and Improvement Exchanges coupled with impeccable service allows her to efficiently and easily guide clients through a seamless 1031 tax deferred transaction.
Additional Contact Information
Office
201 Merchant Street, Suite 2100, Honolulu, HI 96813
285 W. Kaahumanu Ave. #103, Kahului, HI 96732
75-1000 Henry Street #202, Kailua-Kona, HI 96740
Regional Office
201 Merchant Street, Suite 2100, Honolulu, HI 96813
Phone: (808) 387-4140
Toll-Free: (866) 577-1031
Fax: (760) 268-0569
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1031 Exchange FAQs
Does Hawaii have any special 1031 rules or 1031 regulations?
HARPTA is the Hawaii Real Estate Tax Act and it sometimes applies to Non-Residents selling property in the State of Hawaii. If you have not resided in the State of Hawaii for the last two years it may apply, unless you can show on a worksheet (that is typically provided by escrow) that you are selling at a loss. If you are a Non-Resident selling real estate and have a gain, you are subject to a 7.25% withholding on the gross sales price of the property being sold. This can come as a real surprise at closing by realizing that 7.25% of the gross sales price will be withheld and sent to the State of Hawaii. It isn’t a tax, it is withholding, and it is a way for the State of Hawaii to make sure its Non-Residents of the State pay their tax. In a 1031 Tax Deferred Exchange the HARPTA withholding will not apply if no cash boot is received by the seller at the closing of the Relinquished Property.
How do I know if a 1031 Tax Deferred Exchange is right for me?
The first step in determining if a 1031 Exchange is right for you is by speaking with your Tax Advisor. If the real estate you plan to sell has been held for business or investment purposes and if you plan to buy another property, (equal to or greater in value to what was sold) that will also be held for investment purposes, an exchange may the best vehicle to help you defer Capital Gains Tax. It’s important to run the numbers to determine if you are selling at a loss, or at a gain. That can be done on our website by plugging your numbers into our Capital Gains Tax Estimator. From there, please reach out to us and we will cover the exchange process and prepare you for what to expect. Please keep in mind that Leasehold Property has certain parameters and may be treated differently than Fee Simple Real Estate.
What are the benefits of doing a Tax Deferred 1031 Exchange?
The benefit of a 1031 Exchange is to defer all of the Capital Gains Taxes that would normally be due. You do this by purchasing property that is considered like kind and that is equal to or greater in value than what was sold. If you are selling Hawaii investment property and are a non-resident of Hawaii you may be able to avoid the HARPTA withholding.
Can I improve property I already own using 1031 Exchange funds?
Unfortunately you cannot build on property you already own through a 1031 Exchange. You have two problems with that. Number one is that you already have control of the land underneath. In a 1031 Exchange you are purchasing the land, or best explained as the dirt as a part of the real estate transaction. This is not occurring when you already own the property. Number two, what you would be building are improvements and improvements are not considered like-kind to real estate in an exchange. The whole idea in a 1031 Exchange is to buy like-kind real estate. Unfortunately, improvements or Goods and Services are not considered like-kind to what you are selling which is real estate.
When do I get my money back if I cannot identify Replacement Property?
Because 1031 Exchange Companies are under specific rules in how we return 1031 funds, it is important to understand that the funds will be held for a certain amount of time, depending on how your exchange unfolds. You have 45 days to identify potential Replacement Property. If you cannot identify anything on day 45, you simply let us know and we can return your funds on day 46. Since your exchange has to fail first we cannot return and portion of your funds until day 45 passes.
Tiffany’s Key 1031 Resources
1031 Brochure
1031 Reference Book
Your IPX1031 Resource
IPX1031 Exchange Industry Partner Tools
IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise, security and key information on 1031 Exchange rules, regulations and strategy.
1031 Exchange expert, Tiffany Davies offers you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
Schedule Seminar with Tiffany Davies
IPX1031 provides seminars for continuing education credits as well as custom and personalized seminars on tax deferred exchange topics for attorneys, CPAs, advisors, brokers, REALTORS®, agents, escrow, investors and taxpayers.
To find out about a seminar nearest you, or to schedule a seminar for your office, please contact us.
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Is There an IPX1031 Office in Hawaii Near Me?
IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all areas throughout Hawaii, including:
Honolulu
East Honolulu
Pearl City
Hilo
Kailua (Oahu)
Waipahu
Kaneohe
Mililani Town
Ewa Gentry
Kihei
Makakilo
Wahiawa
Schofield Barracks
Wailuku
Kailua-Kona
Kapolei
Royal Kunia
Halawa
Waianae
Waimalu
Napili-Honokowai
Hawaiian Paradise Park
Kahului
Ocean Pointe
Aiea
Waipio
Lahaina
Waimea (Big Island)
Pahoa
Hanapepe
Kapa‘a
Lihue
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.
