HOUSE OF REPRESENTATIVES	H.B. NO.	1711
THIRTY-THIRD LEGISLATURE, 2026		H.D. 1
STATE OF HAWAII		S.D. 2
		C.D. 1

A BILL FOR AN ACT

RELATING TO HOUSING.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

"(b) The sales price shall be established at the beginning of the rental term and shall remain fixed for [the first five years] a period of up to ten years after the rental agreement is executed. During this period, the participant shall have the option of purchasing the unit at the designated sales price. If the participant does not elect to purchase the unit within the [five-year] option period, the renter shall forfeit the right to continue living in the unit and the unit shall be made available to another purchaser or renter."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

Report Title:

Hawaii Housing Finance and Development Corporation; Housing; Rent-to-Own Program; Sales Price

Description:

Amends, for purposes of the Hawaii Housing Finance and Development Corporation's Rent-to-Own Program, the period during which the sales price of a dwelling unit is required to remain fixed from 5 years to a period of up to 10 years. (CD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.