HI HB1227

Increases reserved housing requirement for major developments on lots of at least one acre in Kakaako mauka area from existing requirements to at least 20% of countable floor area until December 31, 2014, then escalating to 25% (2015-2019), 30% (2020-2024), and 35% (2025 onward).

Establishes 20% reserved housing unit requirement for major developments with multi-family dwelling units on lots between 20,000 and 43,559 square feet within Kakaako mauka area.

Defines "reserved housing units" as dwelling units for purchase by families with income not exceeding 140% of median income or for rent to families with income not exceeding 100% of median income, with specified bedroom and bathroom configurations.

Prohibits developers from making cash payments in lieu of constructing required reserved housing and eliminates previous allowance for developers to fulfill requirements by developing affordable housing outside the community development district.

Requires Hawaii Community Development Authority to adopt implementing rules by January 1, 2010 without public hearing requirements, and prohibits acceptance of major development applications on lots of at least one acre until new rules are effective.