A new fund to help Maui homeowners manage coastal erosion and address climate change has been approved by the Maui County Council.
A bill to create the Maui Managed Retreat Revolving Fund passed the council on Friday in a sweeping vote.
The fund will specifically support shoreline improvements and the in-land relocation of infrastructure owned by the county and private entities.
The money will come from 20% of the county's transient accommodations tax, which is estimated at $60 million. Some opponents to the measure believe that’s too much to extract from the fund.
If signed by Mayor Mike Victorino, the law will take effect in July 2023.
