On what basis is the conveyance tax calculated in Hawaii?

The conveyance tax in Hawaii is determined based on the selling price of the property. This tax is assessed on the value of the real estate transaction and is typically calculated at the time of closing. The selling price reflects the total amount agreed upon by the buyer and seller for the transfer of ownership, which is why it serves as the critical measure for calculating the conveyance tax.

The other options do not serve as a basis for the conveyance tax. The buyer's mortgage amount may influence the financing of the property but does not affect the calculation of the tax itself. The earnest money amount is a deposit made by the buyer to demonstrate serious intent but is not related to the conveyance tax. The time of purchase, while relevant to certain legal and financial considerations, does not determine the conveyance tax calculation as it is specifically tied to the selling price of the property.