STAND. COM. REP. NO. 567-26

Honolulu, Hawaii

, 2026

RE: H.B. No. 1711

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Housing, to which was referred H.B. No. 1711 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose of this measure is to amend the Hawaii Housing Finance and Development Corporation's Rent-to-Own Program by revising the period during which the sales price of a dwelling unit remains fixed from a five-year period to an option period determined by the Corporation.

Your Committee received testimony in support of this measure from the Hawaii Housing Finance and Development Corporation and Housing Hawaiʻi's Future. Your Committee received comments on this measure from one individual.

Your Committee finds that the existing five-year fixed price period under the Rent-to-Own Program can limit flexibility for participants and the Hawaii Housing Finance and Development Corporation because market conditions, financing timelines, and household circumstances vary considerably across projects. Your Committee further finds that establishing an option period tailored by the Corporation will allow for more accurate alignment of pricing stability with program goals while ensuring that renters have a meaningful opportunity to transition to homeownership. This measure will better support long-term affordability and improve pathways for households seeking to purchase their own homes.

Your Committee has amended this measure by changing the effective date to July 1, 3000, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1711, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1711, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Housing,

____________________________

LUKE A. EVSLIN, Chair