HI HB847

Requires arbitration awards involving fair market value, fair market rental, or fair and reasonable rent determinations to include findings of fact, the appraiser's rationale, and information about evidence, data, methodologies, and analysis used in the decision when the arbitrator is a real estate appraiser licensed under chapter 466K.

Amends Hawaii Revised Statutes section 658A-19 to add new subsection (b) with these award documentation requirements for real estate appraisal arbitrations.

Updates cross-references in section 658A-23 to reflect the renumbering of provisions from subsection (b) to (c).

Specifies that in any conflict between arbitration law and the Uniform Standards of Professional Appraisal Practice, the appraisal standards shall prevail.

Effective date: July 1, 2112.