HI HB308

Establishes a two-year moratorium on lease to fee conversions of condominiums, effective immediately and lasting until July 1, 2013.

Suspends all lease to fee conversions of condominiums during the moratorium period to preserve affordable rental housing inventory.

Requires the Hawaii Housing Finance and Development Corporation to submit a report to the Legislature no later than twenty days before the 2013 regular session covering the status of affordable rental units scheduled for conversion to fee simple holdings.

Addresses the shortage of affordable rental housing units in Hawaii, particularly in Honolulu's urban core, and the negative impact of converting rental units to fee simple ownership on housing affordability and homelessness.