STAND. COM. REP. NO. 3721

Honolulu, Hawaii

RE: H.B. No. 1711

H.D. 1

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1711, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose and intent of this measure is to expand affordable housing options by providing the Hawaii Housing Finance and Development Corporation with flexibility to meet the diverse needs of families and to address the State's economic realities.

More specifically, this measure replaces the current five‑year option period for the Corporation's Rent-To-Own Program with an option period to be determined by the Corporation.

Your Committee received written comments in support of this measure from the Hawaii Housing Finance and Development Corporation and Hawaii REALTORS.

Your Committee finds that the Corporation's Rent-To-Own Program is a critical part of the housing ladder for families who aspire to homeownership, but cannot immediately qualify for a mortgage loan. Your Committee acknowledges, however, that the current statutorily mandated five-year option period, during which a home's sales price remains fixed, is insufficient to account for varying financial circumstances and market conditions.

Your Committee has amended this measure by changing the length of the option period during which the sales price remains fixed from a period established by the Corporation to a period of up to ten years.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1711, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1711, H.D. 1, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

DONOVAN M. DELA CRUZ, Chair