HI HB309

Exempts high-rise multifamily projects in Honolulu's urban core from height restrictions, allowing structures up to 30 floors instead of being limited by existing ordinances.

Requires that at least 20 percent of units on every floor above the third floor be affordable rental housing units as a condition for the height exemption.

Defines "affordable rental housing unit" as a unit with rental amounts affordable to families earning at or below a specified percentage of area median family income as determined by the U.S. Department of Housing and Urban Development.

Requires rental housing units to remain as rental units for a minimum of 75 years.

Applies only to dwelling buildings located in the Honolulu urban core area bounded by South Beretania Street (north), Kapiolani Boulevard and South King Street intersection (east), Kapiolani Boulevard (south), and Kalakaua Avenue (west).