Any ideas what pest is plaguing my hibiscus?
I kept it outdoors in central New Mexico until about 3--4 months ago when the temperature went below freezing. It's been inside since. I've had it for nearly 2 years.
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It rather looks like spider mite damage. The mites are very tiny and might not be clearly visible to unmagnified vision, so if you have a magnifying lens look very carefully on the underside of the lower leaves. The mites suck juices from the underside causing the cells to collapse and die in spots and leave sunken areas and eventually shot-holes in the leaves.
Consult a local garden centre for the appropriate type of spray for your area, and if you choose to treat this way (an alternate is to junk the plant and get a new uninfected one) make sure to treat the leaf undersides thoroughly.